Document:

Exhibit 10.25
                                                                  EXHIBIT C

THESE  SECURITIES  HAVE NOT BEEN  REGISTERED  WITH THE  SECURITIES  AND EXCHANGE
COMMISSION  OR THE  SECURITIES  COMMISSION  OF ANY  STATE  IN  RELIANCE  UPON AN
EXEMPTION  FROM  REGISTRATION  UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT"), AND, ACCORDINGLY,  MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
TO AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
AN  AVAILABLE   EXEMPTION  FROM,  OR  IN  A  TRANSACTION  NOT  SUBJECT  TO,  THE
REGISTRATION   REQUIREMENTS  OF  THE  SECURITIES  ACT  AND  IN  ACCORDANCE  WITH
APPLICABLE  STATE  SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO
THE  TRANSFEROR  TO SUCH  EFFECT,  THE  SUBSTANCE  OF WHICH SHALL BE  REASONABLY
ACCEPTABLE TO THE COMPANY.  THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A
BONA FIDE MARGIN  ACCOUNT WITH A REGISTERED  BROKER-DEALER  OR OTHER LOAN WITH A
FINANCIAL INSTITUTION THAT IS AN "ACCREDITED INVESTOR" AS DEFINED IN RULE 501(a)
UNDER THE SECURITIES ACT.

                          COMMON STOCK PURCHASE WARRANT

                To Purchase __________ Shares of Common Stock of

                           Health Sciences Group, Inc.

                  THIS COMMON STOCK PURCHASE  WARRANT  CERTIFIES that, for value
received,  _____________ (the "HOLDER"), is entitled, upon the terms and subject
to the limitations on exercise and the conditions  hereinafter set forth, at any
time on or after __________,  2003 (the "INITIAL EXERCISE DATE") and on or prior
to the close of business on the third  anniversary of the Initial  Exercise Date
(the "TERMINATION DATE") but not thereafter,  to subscribe for and purchase from
Health Sciences  Group,  Inc., a Colorado  corporation  (the  "COMPANY"),  up to
____________  shares (the "WARRANT SHARES") of Common Stock, par value $.001 per
share, of the Company (the "COMMON  STOCK").  The purchase price of one share of
Common Stock (the "EXERCISE  PRICE") under this Warrant shall be $1.10,  subject
to adjustment hereunder. The Exercise Price and the number of Warrant Shares for
which the  Warrant is  exercisable  shall be subject to  adjustment  as provided
herein.  Capitalized  terms used and not otherwise defined herein shall have the
meanings set forth in that certain  Subscription  Agreement  (the  "SUBSCRIPTION
AGREEMENT"),  dated _______,  2003,  between the Company and the original holder
hereof.

                  1. TITLE TO WARRANT. Prior to the Termination Date and subject
to compliance with  applicable laws and Section 7 of this Warrant,  this Warrant
and all rights hereunder are transferable, in whole or in part, at the office or
agency of the  Company by the Holder in person or by duly  authorized  attorney,
upon surrender of this Warrant  together with the Assignment Form annexed hereto
properly  endorsed.  The transferee shall sign an investment  letter in form and
substance reasonably satisfactory to the Company.

                  2.  AUTHORIZATION  OF SHARES.  The Company  covenants that all
Warrant  Shares  which may be issued upon the  exercise of the  purchase  rights
represented  by  this  Warrant  will,  upon  exercise  of  the  purchase  rights
represented by this Warrant, be duly authorized,  validly issued, fully paid and
nonassessable and free from all taxes, liens and charges in respect of the issue
thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

                  3. EXERCISE OF WARRANT.

                           (a) Except as provided in Section 4 herein,  exercise
         of the purchase  rights  represented by this Warrant may be made at any
         time or times on or after the  Initial  Exercise  Date and on or before
         the Termination Date by the surrender of this Warrant and the Notice of
         Exercise  Form  annexed  hereto  duly  executed,  at the  office of the
         Company  (or such  other  office  or agency  of the  Company  as it may
         designate by notice in writing to the registered  Holder at the address
         of such Holder  appearing on the books of the Company) and upon payment

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         of the Exercise Price of the shares thereby  purchased by wire transfer
         or  cashier's  check  drawn  on a United  States  bank or by means of a
         cashless  exercise  pursuant  to  Section  3(c),  the  Holder  shall be
         entitled to receive a certificate  for the number of Warrant  Shares so
         purchased.   Certificates  for  shares  purchased  hereunder  shall  be
         delivered to the Holder within three (3) Trading Days after the date on
         which this Warrant shall have been exercised as aforesaid. This Warrant
         shall  be  deemed  to have  been  exercised  and  such  certificate  or
         certificates  shall be deemed to have been  issued,  and  Holder or any
         other person so  designated to be named therein shall be deemed to have
         become a holder of record of such  shares for all  purposes,  as of the
         date the  Warrant has been  exercised  by payment to the Company of the
         Exercise Price and all taxes required to be paid by the Holder, if any,
         pursuant to Section 5 prior to the issuance of such  shares,  have been
         paid. If the Company  fails to deliver to the Holder a  certificate  or
         certificates  representing  the Warrant Shares pursuant to this Section
         3(a) by the third  Trading  Day after  the date of  exercise,  then the
         Holder will have the right to rescind such exercise.

                           (b) If this  Warrant  shall  have been  exercised  in
         part, the Company shall,  at the time of delivery of the certificate or
         certificates  representing  Warrant  Shares,  deliver  to  Holder a new
         Warrant  evidencing  the rights of Holder to purchase  the  unpurchased
         Warrant  Shares called for by this Warrant,  which new Warrant shall in
         all other respects be identical with this Warrant.

                           (c) If at any time  after  one year  from the date of
         issuance of this Warrant there is no effective  registration  statement
         permitting the unrestricted  resale to the public of the Warrant Shares
         by the Holder, this Warrant may also be exercised at such time by means
         of a  "cashless  exercise"  in which the Holder  shall be  entitled  to
         receive a  certificate  for the number of Warrant  Shares  equal to the
         quotient obtained by dividing [(A-B) (X)] by (A), where:

                  (A) = the closing bid price on the trading day  preceding  the
         date of such election;

                  (B)     = the Exercise Price of the Warrants, as adjusted; and

                  (X)     = the number of Warrant Shares  issuable upon exercise
                          of the Warrants in  accordance  with the terms of this
                          Warrant.

                  4.      NO FRACTIONAL SHARES OR SCRIP. No fractional shares or
                          scrip  representing  fractional shares shall be issued
                          upon the exercise of this Warrant.  As to any fraction
                          of a share which Holder would otherwise be entitled to
                          purchase upon such  exercise,  the Company shall pay a
                          cash  adjustment in respect of such final  fraction in
                          an amount  equal to such  fraction  multiplied  by the
                          Exercise Price.

                  5.      CHARGES, TAXES AND EXPENSES.  Issuance of certificates
                          for Warrant Shares shall be made without charge to the
                          Holder  for  any  issue  or  transfer   tax  or  other
                          incidental  expense in respect of the issuance of such
                          certificate,  all of which taxes and expenses shall be
                          paid by the Company,  and such  certificates  shall be
                          issued  in the name of the  Holder  or in such name or
                          names  as may be  directed  by the  Holder;  PROVIDED,
                          HOWEVER,  that in the event  certificates  for Warrant
                          Shares  are to be issued in a name other than the name
                          of the  Holder,  this  Warrant  when  surrendered  for
                          exercise shall be  accompanied by the Assignment  Form
                          attached  hereto duly executed by the Holder;  and the
                          Company  may  require,  as a  condition  thereto,  the
                          payment of a sum  sufficient  to  reimburse it for any
                          transfer tax incidental thereto.

                  6.      CLOSING  OF  BOOKS.  The  Company  will not  close its
                          stockholder  books  or  records  in any  manner  which
                          prevents the timely exercise of this Warrant, pursuant
                          to the terms hereof.

                  7.      TRANSFER, DIVISION AND COMBINATION.

                           (a)  Subject  to  compliance   with  any   applicable
         securities  laws and the  conditions  set forth in  Sections 1 and 7(e)
         hereof,  this Warrant and all rights  hereunder  are  transferable,  in
         whole or in part,  upon  surrender  of this  Warrant  at the  principal
         office  of the  Company,  together  with a written  assignment  of this
         Warrant  substantially in the form attached hereto duly executed by the

<PAGE>

         Holder  or its  agent  or  attorney  and  funds  sufficient  to pay any
         transfer  taxes  payable  upon the making of such  transfer.  Upon such
         surrender and, if required, such payment, the Company shall execute and
         deliver  a new  Warrant  or  Warrants  in the name of the  assignee  or
         assignees and in the  denomination or  denominations  specified in such
         instrument of assignment, and shall issue to the assignor a new Warrant
         evidencing  the  portion  of this  Warrant  not so  assigned,  and this
         Warrant shall promptly be cancelled.  A Warrant,  if properly assigned,
         may be  exercised  by a new holder for the  purchase of Warrant  Shares
         without having a new Warrant issued.

                           (b) This  Warrant  may be  divided or  combined  with
         other Warrants upon presentation  hereof at the aforesaid office of the
         Company,  together  with a  written  notice  specifying  the  names and
         denominations  in which new  Warrants  are to be issued,  signed by the
         Holder or its agent or  attorney.  Subject to  compliance  with Section
         7(a),  as to any  transfer  which may be involved  in such  division or
         combination,  the  Company  shall  execute and deliver a new Warrant or
         Warrants  in  exchange  for the  Warrant or  Warrants  to be divided or
         combined in accordance with such notice.

                           (c) The Company shall  prepare,  issue and deliver at
         its own expense (other than transfer taxes) the new Warrant or Warrants
         under this Section 7.

                           (d) The Company agrees to maintain,  at its aforesaid
         office,  books for the registration and the registration of transfer of
         the Warrants.

                           (e) If, at the time of the  surrender of this Warrant
         in connection  with any transfer of this Warrant,  the transfer of this
         Warrant shall not be registered  pursuant to an effective  registration
         statement  under  the  Securities  Act  and  under   applicable   state
         securities or blue sky laws, the Company may require, as a condition of
         allowing  such  transfer  (i) that the  Holder  or  transferee  of this
         Warrant,  as the case may be, furnish to the Company a written  opinion
         of  counsel  (which  opinion  shall be in  form,  substance  and  scope
         customary  for opinions of counsel in comparable  transactions)  to the
         effect that such  transfer may be made without  registration  under the
         Securities Act and under  applicable state securities or blue sky laws,
         (ii) that the holder or  transferee  execute and deliver to the Company
         an investment  letter in form and  substance  acceptable to the Company
         and (iii) that the transferee be an "accredited investor" as defined in
         Rule 501(a) promulgated under the Securities Act.

                  8. NO RIGHTS AS SHAREHOLDER UNTIL EXERCISE.  This Warrant does
not entitle the Holder to any voting rights or other rights as a shareholder  of
the Company prior to the exercise hereof. Upon the surrender of this Warrant and
the  payment  of the  aggregate  Exercise  Price  (or  by  means  of a  cashless
exercise),  the Warrant Shares so purchased  shall be and be deemed to be issued
to such Holder as the record owner of such shares as of the close of business on
the later of the date of such surrender or payment.

                  9. LOSS,  THEFT,  DESTRUCTION  OR MUTILATION  OF WARRANT.  The
Company  covenants  that upon  receipt  by the  Company of  evidence  reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
or any stock  certificate  relating to the Warrant Shares,  and in case of loss,
theft or  destruction,  of indemnity or security  reasonably  satisfactory to it
(which, in the case of the Warrant,  shall not include the posting of any bond),
and upon surrender and  cancellation  of such Warrant or stock  certificate,  if
mutilated,  the Company will make and deliver a new Warrant or stock certificate
of like  tenor and dated as of such  cancellation,  in lieu of such  Warrant  or
stock certificate.

                  10.  SATURDAYS,   SUNDAYS,  HOLIDAYS,  ETC.  If  the  last  or
appointed  day for the  taking  of any  action  or the  expiration  of any right
required or granted herein shall be a Saturday,  Sunday or a legal holiday, then
such action may be taken or such right may be exercised  on the next  succeeding
day not a Saturday, Sunday or legal holiday.

                  11.  ADJUSTMENTS  OF  EXERCISE  PRICE AND  NUMBER  OF  WARRANT
SHARES.

                  (a) The number  and kind of  securities  purchasable  upon the
exercise of this Warrant and the Exercise  Price shall be subject to  adjustment
from  time to time  upon  the  happening  of any of the  following.  In case the
Company  shall  (i)  pay a  dividend  in  shares  of  Common  Stock  or  make  a
distribution  in shares of Common  Stock to  holders of its  outstanding  Common
Stock,  (ii)  subdivide  its  outstanding  shares of Common Stock into a greater

<PAGE>

number of shares,  (iii) combine its  outstanding  shares of Common Stock into a
smaller  number  of  shares of Common  Stock,  or (iv)  issue any  shares of its
capital  stock in a  reclassification  of the Common  Stock,  then the number of
Warrant  Shares  purchasable  upon  exercise of this Warrant  immediately  prior
thereto  shall be adjusted  so that the Holder  shall be entitled to receive the
kind and number of Warrant  Shares or other  securities  of the Company which it
would  have  owned or have  been  entitled  to  receive  had such  Warrant  been
exercised in advance  thereof.  Upon each such adjustment of the kind and number
of Warrant  Shares or other  securities  of the  Company  which are  purchasable
hereunder,  the Holder  shall  thereafter  be entitled to purchase the number of
Warrant Shares or other securities resulting from such adjustment at an Exercise
Price per Warrant Share or other security  obtained by multiplying  the Exercise
Price in effect  immediately  prior to such  adjustment by the number of Warrant
Shares  purchasable  pursuant  hereto  immediately  prior to such adjustment and
dividing  by the number of Warrant  Shares or other  securities  of the  Company
resulting from such  adjustment.  An adjustment  made pursuant to this paragraph
shall  become  effective  immediately  after the  effective  date of such  event
retroactive to the record date, if any, for such event.

                  (b) EXERCISE PRICE ADJUSTMENT.  (i) If the Company at any time
while this  Warrant is  outstanding  shall  issue,  or be deemed to have issued,
Additional Shares of Common Stock (as hereinafter defined) without consideration
or for  consideration  per share of Common  Stock less than the then  applicable
Exercise  Price (the  "Dilutive  Price")  (a  "Triggering  Issuance")  in effect
immediately  prior to such  issuance,  then forthwith upon the occurrence of any
such event (the  "Dilutive  Event") the Exercise  Price shall be reduced so that
the Exercise Price in effect immediately following the Dilutive Event will equal
the Dilutive Price.

                  (c)      As used herein:

                            "Additional  Shares of Common  Stock" shall mean all
                           shares of Common  Stock issued or deemed to be issued
                           by the Company after the date hereof which  represent
                           a  Triggering  Issuance.  If the  Company  issues any
                           Options or  Convertible  Securities  (as  hereinafter
                           defined),  the  maximum  number  of  shares of Common
                           Stock  issuable  thereunder,  shall be  deemed  to be
                           Additional  Shares of Common  Stock  issued as of the
                           time of such issue, if the consideration per share of
                           such   Additional   Shares   of   Common   Stock  (as
                           hereinafter  determined) is less than then-applicable
                           Exercise  Price,  until such time as such  Options or
                           Convertible   Securities   shall   terminate   or  be
                           exercised or converted into Common Stock,  upon which
                           time the  number of shares of Common  Stock  actually
                           thereupon  issued  shall be deemed  to be  Additional
                           Shares of Common  Stock.  The Company shall be deemed
                           to have issued the maximum number of shares of Common
                           Stock   potentially   underlying   any   Options   or
                           Convertible    Securities.     Notwithstanding    the
                           foregoing,  no issuance or deemed issuance nor Common
                           Stock or options or warrants to purchase Common Stock
                           issued to (i) officers,  directors or employees of or
                           consultants   to   the   Company   pursuant   to  any
                           compensation  agreement,  plan or  arrangement or the
                           issuance  of Common  Stock upon the  exercise  of any
                           such options or warrants,  provided  such  securities
                           were issued prior to the date hereof or pursuant to a
                           stock  option plan that was  approved by the board of
                           directors (ii) upon  conversion of the Company Series
                           A  Convertible   Preferred  Stock  or  conversion  of
                           existing convertible securities outstanding as of the
                           date  hereof;  (iii)  upon  exercise  of  outstanding
                           warrants  existing  as of the  date  hereof  or  this
                           warrant;  and  (iv)  in  connection  with a  business
                           acquisition,  where the  stockholders  of the Company
                           prior  to  such  acquisition  own  50% or more of the
                           Common   Stock   of  the   Company   following   such
                           acquisition  or to an  institution  or bank lender in
                           connection  with  a  loan  transaction  or  equipment
                           lease,

                           shall be deemed the issuance of Additional  Shares of
                           Common Stock.

                           "Options"  shall mean rights,  options or warrants to
                           subscribe for,  purchase or otherwise  acquire either
                           Common Stock or Convertible Securities.

                           "Convertible  Securities" shall mean any evidences of
                           indebtedness,  shares  (other than  Common  Stock) or
                           other securities  directly or indirectly  convertible
                           into or exchangeable for Common Stock.

<PAGE>

                           With respect to Options and  Convertible  Securities,
                           "Consideration"  per  share of  Additional  Shares of
                           Common  Stock shall be  determined  by adding (x) the
                           aggregate consideration received upon issuance of the
                           Options  or  Convertible  Securities  divided  by the
                           number  of shares  receivable  upon the  exercise  or
                           conversion  thereof  and  (y)  the  minimum  possible
                           consideration  per share  received per share upon the
                           exercise,  conversion  or exchange of such Options or
                           Convertible Securities for shares of Common Stock.

                  12. REORGANIZATION, RECLASSIFICATION, MERGER, CONSOLIDATION OR
DISPOSITION  OF  ASSETS.  In case the  Company  shall  reorganize  its  capital,
reclassify  its  capital  stock,  consolidate  or  merge  with or  into  another
corporation  (where the Company is not the surviving  corporation or where there
is a change in or distribution with respect to the Common Stock of the Company),
or sell, transfer or otherwise dispose of all or substantially all its property,
assets or business  to another  corporation  and,  pursuant to the terms of such
reorganization,   reclassification,  merger,  consolidation  or  disposition  of
assets, shares of common stock of the successor or acquiring corporation, or any
cash,  shares of stock or other securities or property of any nature  whatsoever
(including  warrants or other subscription or purchase rights) in addition to or
in lieu of  common  stock of the  successor  or  acquiring  corporation  ("OTHER
PROPERTY"),  are to be received by or distributed to the holders of Common Stock
of the Company,  then the Holder shall have the right thereafter to receive,  at
the option of the Holder, upon exercise of this Warrant, the number of shares of
Common Stock of the successor or acquiring  corporation or of the Company, if it
is the surviving corporation,  and Other Property receivable upon or as a result
of such reorganization,  reclassification,  merger, consolidation or disposition
of  assets by a Holder of the  number of shares of Common  Stock for which  this
Warrant is  exercisable  immediately  prior to such  event.  In case of any such
reorganization,   reclassification,  merger,  consolidation  or  disposition  of
assets, the successor or acquiring corporation (if other than the Company) shall
expressly  assume the due and punctual  observance  and  performance of each and
every covenant and condition of this Warrant to be performed and observed by the
Company  and all the  obligations  and  liabilities  hereunder,  subject to such
modifications  as may be deemed  appropriate  (as  determined  in good  faith by
resolution  of the Board of  Directors  of the  Company) in order to provide for
adjustments of Warrant Shares for which this Warrant is exercisable  which shall
be as nearly  equivalent as practicable to the adjustments  provided for in this
Section 12. For purposes of this Section 12,  "common  stock of the successor or
acquiring  corporation"  shall  include stock of such  corporation  of any class
which is not  preferred  as to dividends or assets over any other class of stock
of such  corporation  and which is not  subject  to  redemption  and shall  also
include any evidences of indebtedness, shares of stock or other securities which
are convertible into or exchangeable for any such stock,  either  immediately or
upon the arrival of a specified  date or the happening of a specified  event and
any warrants or other rights to  subscribe  for or purchase any such stock.  The
foregoing  provisions  of this Section 12 shall  similarly  apply to  successive
reorganizations,  reclassifications,  mergers,  consolidations or disposition of
assets.

                  13.  VOLUNTARY  ADJUSTMENT BY THE COMPANY.  The Company may at
any time during the term of this Warrant reduce the then current  Exercise Price
to any  amount  and for any period of time  deemed  appropriate  by the Board of
Directors of the Company.

                  14.  NOTICE OF  ADJUSTMENT.  Whenever  the  number of  Warrant
Shares or number or kind of securities or other  property  purchasable  upon the
exercise of this Warrant or the Exercise Price is adjusted,  as herein provided,
the Company  shall give notice  thereof to the Holder,  which notice shall state
the number of Warrant Shares (and other securities or property) purchasable upon
the exercise of this Warrant and the Exercise  Price of such Warrant Shares (and
other  securities  or property)  after such  adjustment,  setting  forth a brief
statement  of  the  facts  requiring  such  adjustment  and  setting  forth  the
computation by which such adjustment was made.

                  15. NOTICE OF CORPORATE ACTION. If at any time:

                           (a) the Company shall take a record of the holders of
         its  Common  Stock  for the  purpose  of  entitling  them to  receive a
         dividend  or  other  distribution,  or any  right to  subscribe  for or
         purchase any evidences of its indebtedness,  any shares of stock of any
         class or any other  securities  or  property,  or to receive  any other
         right, or

                           (b) there shall be any capital  reorganization of the
         Company,  any reclassification or recapitalization of the capital stock
         of the Company or any  consolidation  or merger of the Company with, or

<PAGE>

         any sale, transfer or other disposition of all or substantially all the
         property, assets or business of the Company to, another corporation or,

                           (c)  there  shall  be  a  voluntary  or   involuntary
         dissolution, liquidation or winding up of the Company;

then,  in any one or more of such  cases (but not in such cases if the rights of
the Holder or holders of Common Stock will not be materially  affected  thereby,
as for  example  in the case of a merger to effect a change  of  domicile),  the
Company shall give to Holder (i) at least 20 days' prior  written  notice of the
date on which a record date shall be selected for such dividend, distribution or
right or for determining  rights to vote in respect of any such  reorganization,
reclassification,    merger,   consolidation,   sale,   transfer,   disposition,
liquidation  or  winding  up,  and (ii) in the case of any such  reorganization,
reclassification,    merger,   consolidation,   sale,   transfer,   disposition,
dissolution,  liquidation  or winding up, at least 20 days' prior written notice
of the date when the same shall take place.  Such notice in accordance  with the
foregoing  clause also shall specify (i) the date on which any such record is to
be taken for the purpose of such dividend,  distribution  or right,  the date on
which the  holders  of Common  Stock  shall be  entitled  to any such  dividend,
distribution or right, and the amount and character  thereof,  and (ii) the date
on which any such reorganization, reclassification, merger, consolidation, sale,
transfer, disposition,  dissolution,  liquidation or winding up is to take place
and the time, if any such time is to be fixed, as of which the holders of Common
Stock shall be entitled to exchange their Warrant Shares for securities or other
property deliverable upon such disposition,  dissolution, liquidation or winding
up. Each such written notice shall be sufficiently  given if addressed to Holder
at the  last  address  of  Holder  appearing  on the  books of the  Company  and
delivered in accordance with Section 18(d).

                  16. AUTHORIZED  SHARES.  The Company covenants that during the
period the Warrant is  outstanding,  it will  reserve  from its  authorized  and
unissued Common Stock a sufficient  number of shares to provide for the issuance
of the  Warrant  Shares  upon the  exercise of any  purchase  rights  under this
Warrant.  The Company further  covenants that its issuance of this Warrant shall
constitute  full  authority  to its  officers  who are charged  with the duty of
executing stock certificates to execute and issue the necessary certificates for
the Warrant Shares upon the exercise of the purchase  rights under this Warrant.
The Company will take all such  reasonable  action as may be necessary to assure
that such Warrant Shares may be issued as provided  herein without  violation of
any applicable law or regulation,  or of any  requirements of the trading market
upon which the Common Stock may be listed.

                           Except and to the extent as waived or consented to by
the Holder, the Company shall not by any action, including,  without limitation,
amending  its  certificate  of  incorporation  or  through  any  reorganization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or  performance  of any of the terms of this  Warrant,  but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or  appropriate to protect the rights of Holder
as set forth in this Warrant against impairment. Without limiting the generality
of the foregoing, the Company will (a) not increase the par value of any Warrant
Shares above the amount payable therefor upon such exercise immediately prior to
such  increase  in par value,  (b) take all such action as may be  necessary  or
appropriate  in order that the Company may validly and legally  issue fully paid
and nonassessable  Warrant Shares upon the exercise of this Warrant, and (c) use
commercially reasonable efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having  jurisdiction  thereof as may be
necessary to enable the Company to perform its obligations under this Warrant.

                           Before  taking any action  which  would  result in an
adjustment in the number of Warrant Shares for which this Warrant is exercisable
or in the Exercise Price,  the Company shall obtain all such  authorizations  or
exemptions  thereof,  or consents  thereto,  as may be necessary from any public
regulatory body or bodies having jurisdiction thereof.

                  17.  REDEMPTION.  The  Company  shall have the right,  upon 30
days' written notice to the Holder ("Redemption  Notice"),  to redeem all or any
portion of this Warrant at a price equal to $.05 per Warrant,  provided that (i)
the Warrant Shares have been  registered  for resale  pursuant to the Securities
Act, and are freely tradable without  restriction or legend and have been for at
least the  20-trading  day period  preceding  such notice,  (ii) the Closing Bid
Price (as  hereinafter  defined) for the Common Stock has been at least $300% of
the Exercise  Price  (subject to adjustment to reflect  forward or reverse stock
splits, stock dividends,  recapitalizations and the like) for the 20-trading day
period  immediately  preceding  the date (the "Notice  Date") of the  Redemption
Notice  from the  Company to the Holder and (iii) the Common  Stock is listed or

<PAGE>

quoted for trading  during  such  20-trading  day period on either the  American
Stock Exchange,  the New York Stock Exchange,  the Nasdaq National Market or the
Nasdaq  SmallCap  Market as of the Notice  Date,  as well as the 20 trading  day
period immediately prior to the Notice Date. As used herein, "Closing Bid Price"
shall mean the  closing bid price of the Common  Stock as reported by  Bloomberg
Financial L.P. on the date in question (based on a trading day from 9:30 a.m. ET
to 4:02 p.m.  Eastern  Time)  (and,  if no closing  bid price is  reported,  the
closing  price as so  reported,  and if neither  the  closing  bid price nor the
closing  price is so reported,  the last  reported  price of the Common Stock as
determined by an independent  evaluator mutually agreed to by the Holder and the
Company).

                  18.      MISCELLANEOUS.

                           (a)  JURISDICTION.  This Warrant  shall  constitute a
contract  under the laws of New York,  without  regard to its  conflict  of law,
principles or rules.

                           (b)  RESTRICTIONS.  The Holder  acknowledges that the
Warrant Shares  acquired upon the exercise of this Warrant,  if not  registered,
will have restrictions upon resale imposed by state and federal securities laws.

                           (c) NONWAIVER  AND EXPENSES.  No course of dealing or
any delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice Holder's rights, powers
or remedies,  notwithstanding  all rights hereunder terminate on the Termination
Date. If the Company  willfully and knowingly fails to comply with any provision
of this  Warrant,  which  results in any  material  damages to the  Holder,  the
Company  shall pay to Holder such  amounts as shall be  sufficient  to cover any
costs and expenses  including,  but not limited to, reasonable  attorneys' fees,
including those of appellate  proceedings,  incurred by Holder in collecting any
amounts due pursuant hereto or in otherwise enforcing any of its rights,  powers
or remedies hereunder.

                           (d) NOTICES.  Any notice,  request or other  document
required  or  permitted  to be given or  delivered  to the Holder by the Company
shall be delivered in accordance with the notice  provisions of the Subscription
Agreement.

                           (e) LIMITATION OF LIABILITY.  No provision hereof, in
the  absence of any  affirmative  action by Holder to exercise  this  Warrant or
purchase Warrant Shares,  and no enumeration  herein of the rights or privileges
of Holder,  shall give rise to any liability of Holder for the purchase price of
any Common Stock or as a stockholder  of the Company,  whether such liability is
asserted by the Company or by creditors of the Company.

                           (f) REMEDIES.  Holder,  in addition to being entitled
to exercise all rights granted by law,  including  recovery of damages,  will be
entitled to specific  performance of its rights under this Warrant.  The Company
agrees that  monetary  damages would not be adequate  compensation  for any loss
incurred  by reason  of a breach by it of the  provisions  of this  Warrant  and
hereby agrees to waive the defense in any action for specific performance that a
remedy at law would be adequate.

                           (g)  SUCCESSORS  AND ASSIGNS.  Subject to  applicable
securities  laws, this Warrant and the rights and obligations  evidenced  hereby
shall inure to the benefit of and be binding upon the  successors of the Company
and the  successors  and  permitted  assigns of Holder.  The  provisions of this
Warrant are  intended to be for the benefit of all Holders  from time to time of
this  Warrant and shall be  enforceable  by any such Holder or holder of Warrant
Shares.

                           (h)  AMENDMENT.  This  Warrant  may  be  modified  or
amended or the provisions  hereof waived with the written consent of the Company
and the Holder.

                           (i) SEVERABILITY.  Wherever possible,  each provision
of this Warrant shall be interpreted in such manner as to be effective and valid
under  applicable  law, but if any provision of this Warrant shall be prohibited
by or invalid under  applicable  law, such provision shall be ineffective to the
extent of such prohibition or invalidity,  without invalidating the remainder of
such provisions or the remaining provisions of this Warrant.

<PAGE>

                           (j)  HEADINGS.  The headings used in this Warrant are
for the convenience of reference only and shall not, for any purpose,  be deemed
a part of this Warrant.

                              ********************

<PAGE>

                  IN WITNESS WHEREOF,  the Company has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated:  _____________, 2003
                                             HEALTH SCIENCES GROUP, INC.

                                            By:_______________________________
                                                  Name:
                                                  Title:

<PAGE>

                               NOTICE OF EXERCISE

To:      Health Sciences Group, Inc.

                           (7)  The   undersigned   hereby  elects  to  purchase
                  ________  Warrant  Shares  of  Health  Sciences  Group,   Inc.
                  pursuant  to  the  terms  of the  attached  Warrant  (only  if
                  exercised  in  full),  and  tenders  herewith  payment  of the
                  exercise price in full,  together with all applicable transfer
                  taxes, if any.

                           (8) Payment shall take the form of (check  applicable
                  box):

                  [ ] in lawful money of the United States; or

                  [ ] the cancellation of such number of Warrant Shares
                  as is necessary,  in accordance  with the formula set forth in
                  subsection  3(c), to exercise this Warrant with respect to the
                  maximum number of Warrant Shares  purchasable  pursuant to the
                  cashless exercise procedure set forth in subsection 3(c).

                           (9)  Please  issue  a  certificate  or   certificates
                  representing   said   Warrant   Shares  in  the  name  of  the
                  undersigned or in such other name as is specified below:

Name:                       ____________________________________
Address:                    ____________________________________
SS or Tax ID number:        ____________________________________

The Warrant Shares shall be delivered to the following:

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

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

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

                                         WARRANT HOLDER
                                         By: __________________________________

                                                  Name:

                                                  Title:

                                         Dated: ________________________________

<PAGE>

                                 ASSIGNMENT FORM

                        (To assign the foregoing warrant,
                      execute this form and supply required
                                  information.
                 Do not use this form to exercise the warrant.)

         FOR VALUE  RECEIVED,  the  foregoing  Warrant and all rights  evidenced
thereby are hereby assigned to

_______________________________________________ whose address is

---------------------------------------------------------------.

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

                                              Dated:  ______________, _______

                           Holder's Signature: _____________________________

                           Holder's Address:_____________________________

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

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this  Assignment Form must correspond with the name as it
appears on the face of the Warrant,  without  alteration or  enlargement  or any
change whatsoever,  and must be guaranteed by a bank or trust company.  Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.Exhibit 10.26

                               INDEMNITY AGREEMENT

         This Indemnity Agreement, dated effective as of August 1, 2003, is made
by and  between  Health  Sciences  Group,  Inc.,  a  Colorado  corporation  (the
"Company"),  and Jacob Engel, Fred Tannous, Bill Glaser,  William T. Walker (the
"Indemnitees").

                                    RECITALS

         A. The Company is a corporation  organized  under the laws of the State
of Colorado;

         B. Company has the power,  to the maximum extent  permitted by Colorado
law in effect from time to time, to obligate  itself to indemnify the directors,
officers and employees of the Company; and

         C. The bylaws of the Company (the  "Bylaws")  provide that each officer
and director of the Company  shall be  indemnified  by the Company to the extent
permitted by Article VII of the bylaws.

         D. Indemnitees are either directors or officers or may become directors
or officers of the Company and the Company desires to fulfill its obligations to
indemnify  the officers and  directors  to the maximum  extent  permitted by the
Bylaws;

         NOW,   THEREFORE,   the   parties   hereto  are   entering   into  this
Indemnification  Agreement (the  "Agreement")  as of the date hereof to evidence
the obligation of the Company to indemnify the Indemnitees.

         SECTION 1

         DEFINITIONS.  In this  Agreement the following  words have the meanings
indicated.

                                       1
<PAGE>

         (1) "Company"  includes any domestic or foreign  predecessor  entity of
the  Company  in a  merger,  consolidation  or other  transaction  in which  the
predecessor's existence ceased upon consummation of the transaction.

         (2) "Director" means any person who is or was a director of the Company
and any person who,  while a director of the  Company,  is or was serving at the
request of the Company as a director,  officer, partner,  trustee,  employee, or
agent of another foreign or domestic  corporation,  partnership,  joint venture,
trust, other enterprise, or employee benefit plan.

         (3) "Expenses" include attorneys' fees.

         (4) "Official Capacity" means the following:

                  (i) When  used  with  respect  to a  director,  the  office of
director in the Company; and

             (ii) When used with  respect to a person  other than a director  as
contemplated in Section 9, the elective or appointive office in the Company held
by the officer,  or the  employment  or agency  relationship  undertaken  by the
employee or agent in behalf of the Company.

            (iii)  "Official  Capacity"  does not include  service for any other
foreign or domestic corporation or any partnership,  joint venture, trust, other
enterprise, or employee benefit plan.

         (5) "Party" includes a person who was, is or is threatened to be made a
named defendant or respondent in a proceeding.

         (6)  "Proceeding"  means any threatened,  pending or completed  action,
suit or proceeding, whether civil, criminal, administrative, or investigative.

<PAGE>

         SECTION 2

         INDEMNIFICATION OF DIRECTOR.

         (1) Provided the determination  required under Section 5 has been made,
the Company shall  indemnify any Director (or officer,  employee or agent as set
forth below in Section 9) made a Party to any Proceeding by reason of service in
that Director's Official Capacity unless it is established that:

                  (i) The act or omission of the  Director  was  material to the
matter giving rise to the proceeding; and

                           1. Was committed in bad faith; or

                           2.  Was  the   result   of  active   and   deliberate
                           dishonesty; or

             (ii) The Director actually received an improper personal benefit in
money, property, or services; or

                  (iii) In the case of any criminal proceeding, the Director had
reasonable cause to believe that the act or omission was unlawful.

         (2) (i) Indemnification shall be against judgments,  penalties,  fines,
settlements,  and  reasonable  Expenses  actually  incurred  by the  Director in
connection with the Proceeding.

             (ii) However,  if the  Proceeding was one by or in the right of the
Company,  indemnification shall be made only against reasonable Expenses and may
not be made in respect of any  Proceeding in which the Director  shall have been
adjudged to be liable to the Company.

<PAGE>

         (3) (i) The  termination  of any  Proceeding  by  judgment,  order,  or
settlement  does not create a  presumption  that the  Director  did not meet the
requisite standard of conduct set forth in this Section.

             (ii) The termination of any Proceeding by conviction,  or a plea of
nolo contendere or its equivalent, or an entry of an order of probation prior to
judgment,  creates a rebuttable  presumption  that the Director did not meet the
requisite standard of conduct set forth in this Section.

         SECTION 3

         NO INDEMNIFICATION OF DIRECTOR LIABILITY FOR IMPROPER PERSONAL BENEFIT.
A Director shall not be indemnified under Section 1 in respect of any Proceeding
charging  improper  personal  benefit to the Director,  whether or not involving
action in the Director's  Official Capacity,  in which the Director was adjudged
to be liable on the basis that personal benefit was improperly received.

         SECTION 4

         REQUIRED   INDEMNIFICATION  AGAINST  EXPENSES  INCURRED  IN  SUCCESSFUL
DEFENSE.

         (1) A Director who has been successful,  on the merits or otherwise, in
the  defense of any  Proceeding  referred  to in Section 1 shall be  indemnified
against  reasonable  Expenses  incurred by the Director in  connection  with the
Proceeding.

         (2)  Nothing  in this  Agreement  shall  limit  the power of a court of
appropriate  jurisdiction to order  indemnification of a Director to the maximum
extent  permitted  by Colorado  law in effect from time to time,  including  the
right to recover the Expenses of securing such reimbursement.

<PAGE>

         SECTION 5

         DETERMINATION THAT INDEMNIFICATION IS PROPER.

         (1)  Indemnification  under  Section 1 shall not be made by the Company
unless  authorized for the specific  Proceeding  after a determination  has been
made that  indemnification  of the Director is permissible in the  circumstances
because the Director has met the standard of conduct set forth in Section 1.

         (2) Such determination shall be made:

                  (i) By the Board of Directors  by a majority  vote of a quorum
consisting of Directors not, at the time, Parties to the Proceeding, or, if such
a quorum cannot be obtained, then by a majority vote of a committee of the Board
consisting  solely of two or more  Directors  not, at the time,  Parties to such
Proceeding and who were duly  designated to act in the matter by a majority vote
of the  full  Board  in which  the  designated  Directors  who are  Parties  may
participate;

             (ii) By special legal counsel selected by the Board of Directors or
a  committee  of the  Board  by vote as set  forth in  subparagraph  (i) of this
paragraph,  or, if the  requisite  quorum of the full Board  cannot be  obtained
therefor and the committee cannot be established, by a majority vote of the full
Board in which Directors who are Parties may participate; or

            (iii) By the stockholders.

         (3)   Authorization  of   indemnification   and   determination  as  to
reasonableness of Expenses shall be made in the same manner as the determination
that  indemnification  is  permissible.   However,  if  the  determination  that
indemnification  is permissible is made by special legal counsel,  authorization
of indemnification  and determination as to the reasonableness of Expenses shall
be made in the manner  specified in  subparagraph  (ii) of paragraph (2) of this
Section for selection of such counsel.

<PAGE>

         (4) Shares held by Directors  who are Parties to the  Proceeding  shall
not be voted on the subject matter under this Section.

         SECTION 6

         PAYMENT OF EXPENSES IN ADVANCE OF FINAL DISPOSITION OF ACTION.

         (1)  Reasonable  Expenses  incurred  by a Director  who is a Party to a
Proceeding  shall be paid or  reimbursed  by the Company in advance of the final
disposition of the Proceeding, upon receipt by the Company of:

                  (i) A written  affirmation  by the Director of the  Director's
good faith belief that the standard of conduct necessary for  indemnification by
the Company as authorized in this Agreement has been met; and

             (ii) A written undertaking by or on behalf of the Director to repay
the amount if it shall ultimately be determined that the standard of conduct has
not been met.

         (2) The undertaking  required by subparagraph  (ii) of paragraph (1) of
this Section shall be an unlimited  general  obligation of the Director but need
not be secured and may be accepted  without  reference to  financial  ability to
make the repayment.

         SECTION 7

         REIMBURSEMENT  OF  DIRECTOR'S  EXPENSES  INCURRED  WHILE  APPEARING  AS
WITNESS.  The Company shall pay or reimburse  Expenses incurred by a Director in
connection  with an  appearance  as a witness in a Proceeding at a time when the
Director has not been made a named defendant or respondent in the Proceeding.

<PAGE>

         SECTION 8

         DIRECTOR'S  SERVICE TO  EMPLOYEE  BENEFIT  PLAN.  For  purposes of this
Agreement:

         (1) The Company  shall be deemed to have  requested a Director to serve
an employee  benefit plan where the performance of the Director's  duties to the
Company also imposes duties on, or otherwise  involves services by, the Director
to the plan or participants or beneficiaries of the plan;

         (2) Excise  taxes  assessed on a Director  with  respect to an employee
benefit plan pursuant to applicable law shall be deemed fines; and

         (3) Action taken or omitted by the Director with respect to an employee
benefit  plan  in  the  performance  of  the  Director's  duties  for a  purpose
reasonably  believed by the Director to be in the  interest of the  participants
and  beneficiaries  of the plan shall be deemed to be for a purpose which is not
opposed to the best interests of the Company.

         SECTION 9

         OFFICER, EMPLOYEE OR AGENT.
         --------------------------

         (1) The Company  shall  indemnify  and advance  Expenses to an officer,
employee,  or agent of the Company to the same  extent  that it shall  indemnify
Directors under this Agreement.

         SECTION 10

         The  indemnification and advancement of Expenses provided or authorized
by  this  Agreement  may  not be  deemed  exclusive  of  any  other  rights,  by
indemnification  or  otherwise,  to which a Director  may be entitled  under the
Charter, the Bylaws, a resolution of stockholders or directors,  an agreement or
otherwise, both as to action in an Official Capacity and as to action in another
capacity while holding office.

<PAGE>

         SECTION 11

         INSURANCE. The Company may purchase and maintain insurance on behalf of
any person who is or was a Director, officer, employee, or agent of the Company,
or who, while a Director,  officer, employee, or agent of the Company, is or was
serving at the request of the Company as a director,  officer, partner, trustee,
employee,  or agent of another  foreign or  domestic  corporation,  partnership,
joint venture,  trust,  other  enterprise,  or employee benefit plan against any
liability  asserted  against and incurred by such person in any such capacity or
arising out of such person's position, whether or not the Company would have the
power to indemnify  against  liability under the provisions of this Agreement or
under Maryland law in effect from time to time.

         SECTION 12

         GOVERNING  LAW.  This  Agreement  shall be governed by and construed in
accordance with the Laws of the State of Colorado applicable to agreements to be
made and to be performed  entirely  within such State,  however in the event the
reincorporation  of the Company into another  state,  all references to Colorado
law shall be deemed references to the law of such other state.

<PAGE>

         SECTION 13

         CAPTIONS. The captions assigned to provisions of this Agreement are for
convenience only and shall be disregarded in construing this Agreement.

         SECTION 14

         NUMBER AND GENDER.  Use of the singular in this Agreement  includes the
plural,  use of the plural includes the singular,  and use of one gender include
both genders, as the context may require.

         SECTION 15

         CROSS  REFERENCES  AND EXHIBITS.  Any reference in this  Agreement to a
"Section" or  "paragraph"  shall be construed,  respectively,  as referring to a
section of this  Agreement,  or a paragraph of the Section of this  Agreement in
which the reference appears.

         SECTION 16

         SUCCESSORS.  This  Agreement  shall be  binding  upon and  inure to the
benefit  of  the   successors  of  the  Company  and  to  the  heirs,   personal
representatives and estates of the Indemnitees.

         SECTION 17

         SEVERABILITY.  The invalidity or  unenforceability  of any provision of
this  Agreement  shall not affect the validity of any other  provision,  and all
other provisions shall remain in full force and effect.

<PAGE>

         SECTION 18

         ENTIRE  AGREEMENT.  This  Agreement  and the Bylaws  contain the entire
agreement  between  the  parties as to the rights  granted  and the  obligations
assumed in this  instrument.  This Agreement may be amended only by a subsequent
written  instrument  signed by both parties.  To the extent if any inconsistency
between this Agreement and the bylaws, the bylaws shall govern.

         SECTION 19

         NON-ASSIGNABILITY.  This  Agreement may not be assigned by either party
hereto, and any purported assignment of this Agreement shall be null and void.

         SECTION 20

         WAIVER.  Any forbearance by a party to this Agreement in exercising any
right or remedy under this  Agreement or otherwise  afforded by  applicable  law
shall not be a waiver of or preclude  the exercise of that or any other right or
remedy.

         The parties  hereto have  entered into this  Indemnification  Agreement
effective as of the date first above written. This Agreement may be entered into
in counterparts or independently  with anyone or all of Indemnitees.  Failure of
anyone of the  Indemnitees  to enter  into this  Agreement  shall not affect the
enforceability  of this  Agreement  as to any other one of the  Indemnitees  who
signs below.

<PAGE>

                                  "Company"

                                  HEALTH SCIENCES GROUP, INC.

                                  By:______________________________

                                     Name:

                                     Title:

                                  "Indemnitees"

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

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

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

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

                                  (Print Name)

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