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Unassociated Document

    
       

      
        	
                 

                
                   

                   

                   

                   

                   

                   

                   

                   

                   

                

              	
                 

                Capitalink,
                  L. C.

                Member
                  NASD|SIPC

                Columbus
                  Center 

                One
                  Alhambra
                  Plaza, Suite 1410

                Coral
                  Gables,
                  Florida 33134

                

                Phone
                  305-446-2026

                Fax
                  305-446-2926

                www.capitalinklc.com

              

      

       

      Exhibit
        10.6

       

      February
        9, 2004

      

      Mr.
        Bruce
        Hollander

      President

      Bio-Lok
        International Inc.

      312
        S.
        Military Trail

      Deerfield
        Beach, FL 33442

      

      Dear
        Bruce:

      

      This
        letter agreement (the “Agreement”) sets forth the terms and conditions under
        which the Board of Directors of Bio-Lok International Inc. (the “Company”) has
        exclusively retained Capitalink, L.C. (“Capitalink”) to render certain financial
        advisory services in assisting the Company to seek strategic alternatives,
        including a potential Transaction or Investment (each as defined below),
        and
        rendering a fairness opinion, if required. 

      

      1.    Term.
        The
        term of this Agreement shall be for a one-year period and shall be renewed
        for
        an additional one-year period upon the agreement of parties (the
“Term”).

      

      2.    Financial
        Advisory Services.
        During
        the Term, Capitalink shall provide the Company with financial advisory services
        with respect to a potential sale of the Company, including its assets,
        operations, or equity, or any type of merger, consolidation, reorganization,
        recapitalization, business combination or other transaction pursuant to which
        the Company is acquired by, combined with, or enters into a joint venture
        with,
        another party (the “Transaction”). In addition, if requested and as an
        alternative to a strategic Transaction, Capitalink shall approach institutional
        equity sources regarding both an investment in the Company, and potentially
        financing a going-private transaction (the “Investment”). Capitalink’s
        activities shall include, but not be limited to:

      

      Assisting
        in the derivation of a range of Company values; 

      

      Providing
        the Company with key financial analyses necessary for decisions to be made
        regarding the Transaction and the Investment;

      

      Guiding
        the Company through the process of communicating with and providing information
        to interested parties; 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
Providing
        advisory services with respect to the structure and terms of the Transaction
        and
        the Investment including without limitation the terms of employment of
        management; 

      

      If
        requested, approaching and negotiating with the applicable parties in a
        Transaction or Investment; and

      

      Taking
        such other steps as may be necessary to assist in the completion of the
        applicable transaction. 

      

      Fairness
        Opinion Services. 
        If
        requested to do so by the Company, Capitalink will render an opinion (whether
        or
        not favorable) to the Board of Directors of the Company as to whether, on
        the
        date of such opinion, the Transaction/Investment is fair, from a financial
        point
        of view, to the shareholders of the Company. 

      

      The
        opinion shall be in such form and substance as are customary to transactions
        of
        a similar nature and shall be rendered on a basis that is consistent with
        Capitalink’s professional responsibilities to the Company, the Board of
        Directors and shareholders and shall be subject to the undertaking of certain
        inquiries concerning the Transaction/Investment and the business and assets
        of
        the Company. In connection therewith, Capitalink shall be entitled to rely
        upon
        all reports of the Company and information supplied to it by or on behalf
        of the
        Company and Capitalink shall not in any respect be responsible for the accuracy
        or completeness of any such report or information or for any obligation to
        verify the same.

      

      The
        written opinion shall be used only (i) by the Board of Directors in evaluating
        the Transaction/Investment, (ii) in filings made by the Company with the
        Securities and Exchange Commission (by reference and/or as an exhibit), (iii)
        by
        reproduction in full in any proxy statement or similar disclosure document
        disseminated to shareholders if required by the rules of the Securities and
        Exchange Commission and (iv) in any litigation pertaining to matters relating
        to
        the Transaction/Investment and covered in the opinion. The opinion will be
        provided to the Board of Directors for its evaluation and analysis of the
        Transaction/Investment at or prior to the time the Company will execute
        definitive transaction documents, and we are not required to update our opinion
        as of a later date.

      

      The
        Company will make available to Capitalink all information concerning the
        Transaction/Investment and the Company, including its business, assets,
        operations, financial condition and other information that is reasonably
        requested. In addition, the Company shall make available its officers,
        directors, professionals and outside consultants as reasonably requested
        by
        Capitalink. The Company understands and agrees that delays in providing data
        or
        information may result in a delay of the completion of the opinion.

      

      Capitalink’s
        services hereunder may be terminated by you without liability or continuing
        obligation except with respect to the mutually approved provisions set forth
        in
        Appendix A. If Capitalink’s services are terminated, other than for
        non-performance, Capitalink will be entitled to receive and retain the balance
        of fees due as if the assignment contemplated herein was completed.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      With
        respect to any opinion delivered prior to the completion of the
        Transaction/Investment, it is understood that Capitalink may reconsider its
        opinion upon review of any new or modified report, document, release or
        communication published or filed on behalf of the Company in connection with
        the
        Transaction/Investment, or otherwise received by Capitalink, after the date
        of
        delivery of the oral or written opinion, as applicable, and upon review of
        such
        other information as may hereafter be disclosed or otherwise becomes
        available.

      

      Recognizing
        that transactions of this nature sometimes result in litigation and that
        the
        role of Capitalink is limited to acting solely pursuant to this engagement,
        the
        Company and Capitalink agree to the indemnification, contribution and
        reimbursement provisions set forth in Exhibit A attached hereto and incorporated
        herein by reference. In the event a principal or employee of Capitalink is
        required to testify in connection with the Transaction/Investment, an hourly
        fee
        of $375 shall be payable by the Company to Capitalink for the time required
        of
        such principal or employee, including testimony, preparation, and any other
        time
        required in connection with such testimony.

      

      Fee
        for Services.

      

      During
        the Term, and in connection with the services provided in Paragraph 2 above,
        Capitalink shall receive a non-refundable monthly retainer of $5,000. The
        initial payment shall be due on the date hereof, and thereafter, on the monthly
        anniversary of the date hereof. One-half of the aggregate payments shall
        be
        credited toward any fee payable pursuant to sub-paragraphs c and d
        below.

      

      b.    The
        fee
        for evaluating the Transaction/Investment and rendering an opinion as to
        its
        fairness, as set forth in Paragraph 3, shall be $60,000, of which, $30,000
        shall
        be forwarded when the Company notifies Capitalink that it will require the
        opinion and $30,000 shall be forwarded when we notify the Board of Directors
        that we are prepared to deliver the opinion. 

      

      c.    In
        the
        event the Company enters into a Transaction with Sybron Dental Specialties
        Inc.,
        or a subsidiary thereof (“SDS”), the cash fee payable to Capitalink at closing
        shall be equal to $80,000 based on the assumed per share cash consideration
        of
        $0.90. With respect to per share aggregate consideration greater than $0.90,
        Capitalink shall receive an additional cash fee based on the formula set
        forth
        below. For example, if the per share consideration is $1.00, the formula
        above
        shall apply to the additional $0.10 per share of consideration (or approximately
        $700,000 in the aggregate).

      

      In
        the
        event the Company enters into a Transaction with Innova LifeSciences or
        BioHorizons, or applicable subsidiaries thereof, the cash fee payable to
        Capitalink at closing shall be equal to 50% of the formula set forth below.
        Further, in the event the Company enters into a Transaction with Curasan,
        or a
        subsidiary thereof, the cash fee payable to Capitalink at closing shall be
        equal
        to 75% of the formula set forth below. 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Other
        than those noted above, if the Company enters into a Transaction during the
        Term
        (or within two years of the end of the Term with respect to parties contacted
        during the Term), the Company hereby agrees that Capitalink shall receive
        a cash
        fee (payable at closing of such Transaction) based on the formula set forth
        below. This section shall also apply to any entities related to the Company
        or
        in which the Company has an interest (i.e., subsidiary companies, joint
        ventures):

      

      5%
        of the
        Consideration (as defined on Exhibit A) from $1 and up to $2,000,000,
        plus

      4%
        of the
        Consideration in excess of $2,000,000 and up to $4,000,000, plus

      3%
        of the
        Consideration in excess of $4,000,000 and up to $6,000,000, plus

      2%
        of the
        Consideration in excess of $6,000,000.

      

      In
        the
        event any potential Transaction is not consummated, but the Company receives
        (i)
        a “break up” fee or any other payment as a result of the termination of such
        potential Transaction, (ii) a judgment for damages or an amount in settlement
        of
        any dispute relating to such potential Transaction, or (iii) any other payment
        in connection with such potential Transaction, then the Company shall pay
        to
        Capitalink a cash fee of 20% of any such fee, payment, judgment or
        amount.

      

      d.    In
        connection with an Investment made during the Term (or within two years of
        the
        end of the Term with respect to parties contacted during the Term), Capitalink
        shall receive a 6% commission, payable in cash, of the gross proceeds of
        the
        Investment. Upon completion of the Investment, Capitalink or its designees
        shall
        be issued five-year warrants to purchase the number of shares of the Company’s
        common stock that is equivalent to 10% of the number of shares of common
        stock
        sold in the Investment (or into which the securities sold in the Investment
        convert), at an exercise price equal to the per share equivalent paid in
        the
        Investment and under the same terms and conditions as the Investment. Such
        warrants shall contain customary anti-dilution provisions and a piggyback
        registration rights provision for the life of such security. 

       

      Reimbursement.    The
        Company
        shall reimburse costs for all reasonable and necessary out of pocket expenses
        in
        connection with Capitalink’s performing its obligations under this Agreement,
        including but not limited to, travel, lodging, and database searches, as
        approved by the company, whether or not the Transaction/Investment is
        consummated.

      

      Additional
        Services and Miscellaneous.
        In the
        event the Company requests Capitalink to provide services other than as set
        forth in this Agreement, the parties agree that a fee arrangement will be
        negotiated and a separate agreement will be entered into documenting such
        agreement. Further, Capitalink shall have the ability to publicize (i.e.,
        use of
        the Company logo in its marketing materials) its role in providing the Company
        with the services noted herein. 

      

      If
        you
        are in agreement with the foregoing, please so indicate by executing and
        returning the enclosed copy of this letter, including the attached Exhibit
        A.

      

      Very
        truly yours,

      

       

      
        
          	
                   CAPITALINK,
                    L.C.

                   

                
	/s/ 
                  James S. Cassel 
	
                  

                
	Name:
                  James S. Cassel
Title: President

        

         

        
          	
                   BIO-LOK
                    INTERNATIONAL INC.

                   

                
	/s/  Bruce
                  L. Hollander
	
                  
                    

                  

                
	Name:
                  Bruce L. Hollander
Title: President &
                  CEO

        

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

         

         

        
          LOGO]

      

      

       

      February
        9, 2005

      

      Mr.
        Bruce
        Hollander

      President

      Bio-Lok
        International Inc.

      368
        S.
        Military Trail

      Deerfield
        Beach, FL 33442

      

      Dear
        Bruce:

      

      Reference
        is made to the letter agreement dated February 9, 2004 by and between Bio-Lok
        International Inc. (the “Company”) and Capitalink, L.C. (“Capitalink”) (the
“Agreement”). Unless otherwise indicated, the defined terms set forth in the
        Agreement are utilized herein. The Company and Capitalink hereby agree as
        follows:

      

      1. Pursuant
        to Paragraph 1 of the Agreement, the Agreement is renewed for a one-year
        period
        and such additional one year is included in the Term.

      

      2. The
        Agreement and all of its terms remain in full force and effect subject, however,
        to the following modifications:

      

      
        	a.  	
                Paragraph
                  2 of the Agreement is hereby amended by the addition
                  of:

              

      

      

      “g.
        If
        requested, attend meetings of the Board of Directors.”

      

      
        	b.  	
                Paragraph
                  4.c is deleted in its entirety and replaced with the
                  following:

              

      

      

      “c. If
        the
        Company enters into a Transaction during the Term (or within two years of
        the
        end of the Term with respect to parties contacted during the Term), the Company
        hereby agrees that Capitalink shall receive a cash fee (payable at closing
        of
        such Transaction) based on the formula set forth below. This section shall
        also
        apply to any entities related to the Company or in which the Company has
        an
        interest (i.e., subsidiary companies, joint venturers):

      

      5%
        of the
        Consideration (as defined on Exhibit A) from $1 and up to $2,000,000,
        plus

      4%
        of the
        Consideration in excess of $2,000,000 and up to $4,000,000, plus

      3%
        of the
        Consideration in excess of $4,000,000 and up to $6,000,000, plus

      2%
        of the
        Consideration in excess of $6,000,000.

      

      In
        the
        event any potential Transaction is not consummated, but the Company receives
        (i)
        a “break-up” fee or any other payment as a result of the termination of such
        potential Transaction, (ii) a judgment for damages or an amount in settlement
        of
        any dispute relating to such potential Transaction, or (iii) any other payment
        in connection with such potential Transaction, then the Company shall pay
        to
        Capitalink a cash fee of 20% of any such fee, payment, judgment or
        amount.”

      

      
        	c.  	
                The
                  following shall be added at the end of Paragraph
                  4:

              

      

      

      “c. Notwithstanding
        anything contained herein to the contrary, in the event the Company incurs
        investment banking fees (for the particular service noted in 4.c above) in
        excess of the amounts noted herein due to fees payable to a third party,
        Capitalink agrees, subject to its prior approval, to reduce its applicable
        fees
        up to 50% in order for such aggregate fee not to be greater than the amount
        calculated herein.”

      

      If
        you
        are in agreement with the foregoing, please so indicate by executing and
        returning the enclosed copy of this letter.

      

      Very
        truly yours,

      
         

        
          
            	
                     CAPITALINK,
                      L.C.

                     

                  
	/s/ 
                    James S. Cassel 
	
                    

                  
	Name:
                    James S. Cassel
Title: President

          

           

          
            	
                     BIO-LOK
                      INTERNATIONAL INC.

                     

                  
	/s/  Bruce
                    L. Hollander
	
                    
                      

                       

                  
	Name: Bruce
                    L. Hollander
Title: President &
                    CEOCapitalink,
                  L. C.

                Member
                  NASD|SIPC

                Columbus
                  Center 

                One
                  Alhambra
                  Plaza, Suite 1410

                Coral
                  Gables,
                  Florida 33134

                

                Phone
                  305-446-2026

                Fax
                  305-446-2926

                www.capitalinklc.com

              

      

      

      

      Exhibit
        10.7

      

      February
        15, 2005

      

      

      Bio-Lok
        International Inc.

      368
        S.
        Military Trail

      Deerfield
        Beach, FL 33442

      Attention:
        Bruce Hollander, President

      

      Dear
        Mr.
        Hollander:

       

      
        	1.	
                Description
                  of Transaction.
                  Bio-Lok International Inc. (the “Company”, and when used in this
                  agreement, includes its subsidiaries) proposes to issue and sell
                  in a
                  transaction exempt from registration under the Securities Act of
                  1933, as
                  amended (the “Offering”), to a limited number of persons meeting certain
                  criteria for “accredited investor” status, equity or equity-related
                  securities of the Company (the “Securities”). It is intended that the
                  Company will issue four million shares to realize gross proceeds
                  of $3
                  million, although such amount may be greater (the “Financing”).
                  

              

      

      
        
          	 	 

        

        
          	
                  2.

                	
                  Appointment
                    of the Placement Agent.
                    The Company hereby appoints Capitalink, L.C. (the “Placement Agent”) as
                    its exclusive agent during the term of this agreement to offer
                    and sell
                    the Securities on a best efforts basis. The Placement Agent,
                    on the basis
                    of the representations, warranties, covenants and agreements
                    of the
                    Company, and subject to the conditions contained herein, accepts
                    such
                    appointment and agrees to use its reasonable best efforts to
                    sell the
                    Securities. It is understood that the Placement Agent has no
                    commitment to
                    sell the Securities other than as set forth
                    herein.

                

        

        
          	 	 

        

        
          	3. 	
                  Purchase,
                    Sale and Delivery of Securities.
                    On the basis of the representations and warranties contained
                    herein, and
                    subject to the terms and conditions set forth herein, the parties
                    agree
                    that:

                

        

        
          	 	 

        

        
          	 	
                      a)    Regulation
                    D Offering.
                    Neither the offer nor the sale of the Securities has been or
                    will be
                    registered with the U.S. Securities and Exchange Commission during
                    the
                    term of this Agreement. The Securities will be offered and sold
                    in
                    reliance upon the exemption from registration provided by Regulation
                    D
                    (“Reg D”) adopted under the Securities Act of 1933, as amended (the
                    “Act”), and will only be offered and sold to “Accredited Investors” as
                    such term is defined under Reg D; the Securities will be offered
                    for sale
                    only in states in which the Securities have been qualified or
                    registered
                    for sale or are exempt from such qualification or registration;
                    and the
                    Company will provide the Placement Agent for delivery to all
                    offerees and
                    purchasers and their representatives, if any, with any information,
                    documents and instruments which the Placement Agent and Company
                    deem
                    necessary to comply with the rules, regulations and judicial
                    and
                    administrative interpretations concerning compliance with applicable
                    state
                    and federal statutes and
                    regulations.

                

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
         

        
          
            
              	 	
                          (b)    Subscription
                        for Securities.
                        Subscription for Securities shall occur by execution and
                        delivery by each
                        subscriber (a “Subscriber”) of a subscription agreement in substantially
                        the terms agreed to by and between the Company and each Subscriber
                        (the
                        “Subscription Agreement”). 

                    

            

            
              
                	 	 

              

              
                	 	
                            (c)    Closing;
                          Termination of Offering.
                          An initial closing (the “Initial Closing”) of the Financing shall occur as
                          soon as practicable and a minimum amount of Securities
                          is not required to
                          be sold in order to undertake a closing. Additional closings
                          (each a
                          “Closing,” and together with the Initial Closing, the “Closings”) may
                          occur in the same manner; however, the Offering shall terminate
                          no later
                          than as set forth in Section
                          12.

                      

              

            

            
              	 	 

            

          

          
            
              
                	4.	
                        Compensation of
                          Placement
                          Agent.
                          As compensation for its services rendered as Placement
                          Agent under this
                          Agreement, the Placement Agent shall receive: a sales commission
                          equal to
                          6% of the Gross Sales Price (as hereinafter defined) of
                          the Securities
                          issued in the Financing, payable at each Closing in an
                          amount determined
                          by the Gross Sales Price of the particular Closing. “Gross Sales Price” is
                          defined as the total price paid by Subscribers for the
                          Securities. Upon
                          completion of a Closing, the Placement Agent or its designees
                          shall be
                          issued warrants (the “Warrants”) to purchase the number of shares of the
                          Company’s common stock equivalent to 10% of the common stock or
                          equivalent
                          securities sold with respect to such Closing, in exchange
                          for $.01 per
                          Warrant. Such warrants shall be exercisable at a price
                          equal to the per
                          share equivalent price paid in the Offering, shall contain
                          piggyback
                          registration rights, and shall be exercisable for a five-year
                          term
                          commencing with their
                          issuance.

                      

              

              
                	 	 

              

              
                	5.	Representations and Warranties
                        of the
                        Company.
                        The Company represents and warrants to, and agrees with,
                        the Placement
                        Agent that: 

              

              
                	 	 

              

              
                	 	
                            (a)     Disclosure
                          Statement.
                          The Company has prepared a disclosure statement, which
                          may be supplemented
                          from time to time (the “Disclosure Statement”), which contains
                          information, accurate as of the date specified therein,
                          of the kind
                          specified by applicable statutes and regulations. The Disclosure
                          Statement, as of its date and at all times subsequent thereto
                          up to and
                          including each Closing date, does not and will not include
                          any untrue
                          statement of a material fact, or omit to state any material
                          fact necessary
                          in order to make the statements made in light of the circumstances
                          in
                          which they were made not
                          misleading.

                      

              

            

          

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
         

          
            	 	
                        (b)    Additional
                      Information.
                      The Company has provided, and shall provide to the Placement
                      Agent, such
                      information, documents and instruments as may be required under
                      Section
                      4(2) of the Act and Reg D for an offer made to accredited
                      investors.

                  

          

          
            	 	 

          

          
            	 	
                        (c)    Organization;
                      Good Standing.
                      The Company is a corporation duly organized, validly existing
                      and in good
                      standing under the laws of the State of Delaware, with full
                      power and
                      authority, corporate and otherwise, and with all licenses,
                      permits,
                      certifications, registrations, approvals, consents and franchises
                      to own
                      or lease and operate its properties and to conduct its business
                      as
                      described in the Disclosure Statement. The Company is duly
                      qualified to do
                      business as a foreign corporation and is in good standing in
                      all
                      jurisdictions wherein such qualification is necessary and where
                      failure so
                      to qualify could have a material adverse effect on the financial
                      condition, results of operations, business or properties of
                      the
                      Company.

                  

          

          
            	 	 

          

          
            	 	
                        (d)    Corporate
                      Authorization.
                      The Company has full power and authority, corporate and other,
                      to execute,
                      deliver and perform this Agreement and to consummate the transactions
                      contemplated hereby and thereby. The execution, delivery and
                      performance
                      of this Agreement by the Company, the consummation by the Company
                      of the
                      transactions herein and therein contemplated and the compliance
                      by the
                      Company with the terms of this Agreement, have been duly authorized
                      by all
                      necessary corporate action. This Agreement is, and the Securities,
                      when
                      executed and delivered by the Company at a Closing, will be,
                      valid and
                      binding obligations of the Company, enforceable in accordance
                      with their
                      respective terms, subject, as to enforcement of remedies, to
                      applicable
                      bankruptcy, insolvency, reorganization, moratorium and other
                      laws
                      affecting the rights of creditors generally and the discretion
                      of courts
                      in granting equitable remedies and except that enforceability
                      of the
                      indemnification provisions and the contribution provisions
                      set forth
                      herein may be limited by the federal securities laws of the
                      United States or public policy underlying such laws.
                      All corporate
                      action required to be taken for the authorization, issuance
                      and sale of
                      the Securities will have been duly, validly and sufficiently
                      taken.
                      

                  

          

          
            
              	 	 

            

            
              	 	
                          (e)    Capitalization.
                        The Company has a duly authorized and outstanding capitalization
                        of
                        20,000,000 shares of Common Stock. The outstanding shares
                        of Common Stock,
                        and outstanding options, warrants and other securities to
                        purchase Common
                        Stock have been duly authorized and validly issued. All such
                        outstanding
                        shares of Common Stock are fully paid and nonassessable.
                        None of such
                        outstanding shares of Common Stock, options or warrants to
                        purchase Common
                        Stock has been issued in violation of the preemptive rights
                        of any
                        securityholder of the Company. 

                    

            

            
              	 	 

            

          

          
            	 	
                        (f)    Noncontravention.
                      The Company is not in violation of, and the sale of the securities
                      offered
                      hereby will not result in a violation of, or in default under,
                      (i) any
                      term or provision of its Certificate of Incorporation or By-Laws,
                      as
                      amended, (ii) any material term or provision of any financial
                      covenants of
                      any indenture, mortgage, contract, commitment or other agreement
                      or
                      instrument to which it is a party or by which it or any of
                      its properties
                      or business is or may be bound or affected, or (iii) any
                      existing
                      applicable law, rule, regulation, judgment, order or decree
                      of any
                      governmental agency or court, domestic or foreign, having jurisdiction
                      over the Company or any of its properties or business. The
                      Company owns,
                      posses or has obtained all governmental and other licenses,
                      permits,
                      certifications, registrations, approvals or consents and other
                      authorizations necessary to own or lease, as the case may be,
                      and to
                      operate its properties and to conduct its business or operations
                      as
                      currently conducted and all such governmental and other licenses,
                      permits,
                      certifications, registrations, approvals, consents and other
                      authorizations are outstanding and in good standing, and there
                      are no
                      proceedings pending or, to the best of the Company’s knowledge,
                      threatened, nor is there any basis therefor, seeking to cancel,
                      terminate
                      or limit such licenses, permits, certifications, registrations,
                      approvals
                      or consents or authorizations.

                  

          

           

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

           

          
            	 	
                        (g)    Litigation.
                      To the best of the Company’s knowledge, there are no claims, actions,
                      suits, proceedings, arbitrations, investigations or inquiries
                      before any
                      governmental agency, court or tribunal, domestic or foreign,
                      or before any
                      private arbitration tribunal, pending or threatened, against
                      the Company
                      or involving its properties or business which, if determined
                      adversely to
                      the company, would, individually or in the aggregate, result
                      in any
                      material adverse change in the financial position, shareholders’ equity,
                      results of operations, properties, business, management or
                      affairs of the
                      Company or which question the validity of the capital stock
                      of the Company
                      or this Agreement or of any action taken or to be taken by
                      the Company
                      pursuant to, or in connection with, this Agreement; nor is
                      there any basis
                      for any such claim, action, suit, proceeding, arbitration,
                      investigation
                      or inquiry. There are no outstanding orders, judgments or decrees
                      of any
                      court, governmental agency or other tribunal specifically naming
                      the
                      Company and enjoining the Company from taking, or requiring
                      the Company to
                      take, any action, or to which the Company, its properties or
                      business is
                      bound or subject.

                  

          

          
            	 	 

          

          
            	 	
                        (h)    Liabilities.
                      The Company has not incurred liabilities or debts or obligations
                      of any
                      nature whatsoever other than those incurred in the ordinary
                      course of its
                      business.

                  

          

          
            	 	 

          

          
            	 	
                        (i)    Conduct
                      of Business.
                      Since the respective dates as of which information is given
                      in the
                      Disclosure Statement, the Company has not: (a) incurred any
                      obligation or
                      liability (absolute or contingent) except obligations and liabilities
                      incurred in the ordinary course of the operation of business
                      of the
                      Company as carried on at and prior to such date; (b) canceled,
                      without
                      payment in full, any notes, loans or other obligations receivable
                      or other
                      debts or claims held by it other than in the ordinary course
                      of business;
                      (c) sold, assigned, transferred, abandoned, mortgaged, pledged
                      or
                      subjected to lien any of its properties, tangible or intangible,
                      or rights
                      under any contract, permit, license, franchise or other agreement
                      other
                      than sales or other dispositions of goods or services in the
                      ordinary
                      course of business at customary terms and prices; (d) increased
                      compensation payable to any of its officers, directors or other
                      employees
                      (including in the term “compensation,” salaries, fringe benefits,
                      pensions, profit participations and payments or benefits of
                      any kind
                      whatsoever) other than in the ordinary course of business;
                      (e) entered
                      into any line of business other than that conducted by it on
                      such date or
                      entered into any transaction not in the ordinary course of
                      its business;
                      (f) conducted any line of business in any manner except by
                      transactions
                      customary in the operation of its business as conducted on
                      such date; or
                      (g) declared, made or paid or set aside for payment any cash
                      or non-cash
                      distribution on any shares of its capital
                      stock.

                  

          

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
         

        
          	 	
                      (j)    Reg
                    D Qualification.
                    The offer and sale of the Securities by the Company has satisfied
                    and on
                    the Closing Date will have satisfied, all of the requirements
                    of Reg D and
                    the Company is not disqualified from the exemption under Rule
                    505 or Rule
                    506 contained in Reg D.

                

        

        
          	 	 

        

        
          	 	
                      (k)    Finder’s
                    Fee.
                    Except as set forth in this Agreement, the Company has not incurred
                    any
                    liability for any finder’s fees or similar payments in connection with the
                    Offering.

                

        

        
          	 	 

        

        
          	 	
                      (l)    Intangibles.
                    To the best of its knowledge, the Company owns or possesses adequate
                    and
                    enforceable rights to use all patents, patent applications, trademarks,
                    service marks, copyrights, rights, trade secrets, confidential
                    information, processes and formulations used or proposed to be
                    used.

                

        

        
          	 	 

        

        
          	 	
                      (m)    No
                    Integrable Securities Sales.
                    Neither the Company, nor any of its predecessors or affiliates
                    have,
                    within the six (6) calendar months preceding the date of this
                    Agreement
                    offered, offered to sell, offered for sale, or sold any Common
                    Stock or
                    Preferred Stock or any notes, warrants, stock or other securities
                    of or
                    interest in the Company, which can or would be “integrated” by the
                    Commission of the courts under the standards of existing judicial
                    interpretations or rules or regulations under the Securities
                    Act, with
                    offers to sell or sales of the Shares proposed to be made in
                    the Offering,
                    for the purpose of determining whether a public offering of the
                    Shares has
                    been made or for the purpose of determining the aggregate amount
                    of the
                    securities offered in the Offering or, if any such offering were
                    integrated, such offering would not affect the availability of
                    the
                    exemption from registration under the Securities Act of the
                    Offering.

                

        

        
          	 	 

        

        
          	6.	
                  Covenants
                    of the Company. 

                

        

        
          	 	 

        

        
          	 	
                      (a)    Disclosure
                    Statement.
                    If during the Offering any event occurs as a result of which
                    the
                    Disclosure Statement, as then amended or supplemented, would
                    include an
                    untrue statement of a material fact, or omit to state a material
                    fact
                    necessary in order to make the statements made in light of the
                    circumstances in which they were made not misleading, or if it
                    otherwise
                    shall be necessary to amend or supplement the Disclosure Statement
                    to
                    comply with applicable law, the Company will forthwith notify
                    the
                    Placement Agent thereof. 

                

        

        
          	 	 

        

        
          	 	
                      (b)    State
                    Securities Registration.
                    The Company will take all necessary action and file all necessary
                    forms
                    and documents in order to qualify or register the Securities
                    for sale
                    under the securities laws of the states in which offers or sales
                    will be
                    made or to take any necessary action and file any necessary forms
                    which
                    are required to obtain an exemption from such qualification or
                    registration in such jurisdictions.

                

        

        
          	 	 

        

        
          	 	
                      (c)    Use
                    of Proceeds.
                    The Company will apply the net proceeds from this offering in
                    the manner
                    set forth in the Disclosure
                    Statement.

                

        

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        
          
            	7.	
                    Representations,
                      Warranties and Covenants of the Placement Agent.
                      The Placement Agent represents and warrants to the Company
                      that:

                  

          

          
            	 	 

          

          
            	 	
                        (a)    Duly
                      Registered.
                      The Placement Agent is duly registered, pursuant to the applicable
                      provisions of the Securities Exchange Act of 1934, as amended
                      (the
                      “Exchange Act”), as a dealer, and as a member in good standing of the
                      National Association of Securities Dealers, Inc., and is duly
                      registered
                      as a broker-dealer in such states as the Placement Agent is
                      required to be
                      registered in order to carry out the Offering contemplated
                      by this
                      Agreement and the Disclosure Statement. The execution and delivery
                      of this
                      Agreement and the performance by the Placement Agent of its
                      obligations
                      hereunder has been duly and validly authorized by the Placement
                      Agent, and
                      the Agreement ahs been duly executed and delivered by the Placement
                      Agent
                      and constitutes the valid and legally binding agreement of
                      the Placement
                      Agent, enforceable against the Placement Agent in accordance
                      with its
                      terms. The Placement Agent is a duly organized and validly
                      existing entity
                      under the laws of the State of
                      Florida.

                  

          

          
            	 	 

          

          
            	 	
                        (b)    No
                      General Solicitation or Advertising.
                      The Placement Agent will not offer or sell the Securities by
                      means of
                      general solicitation or general
                      advertising.

                  

          

          
            	 	
                  

          

          
            	 	
                        (c)    Furnish
                      Disclosure Statements.
                      The Placement Agent will furnish to each offeree of the Securities
                      a copy
                      of the Disclosure Statement and each supplement or amendment
                      thereto.

                  

          

          
            	 	 

          

          
            	 	
                        (d)    Reg
                      D Compliance.
                      The Placement Agent will use its best efforts to comply in
                      all respects
                      with Reg D and corresponding state statutes and regulations
                      regarding
                      qualifications of prospective and actual
                      investors.

                  

          

          
            	 	 

          

          
            	 	
                        (e)    Notification.
                      The Placement Agent will notify the Company immediately (and
                      confirm any
                      verbal notice in writing) of the issuance by the Commission
                      or by any
                      state securities administrator of any stop order suspending
                      the
                      effectiveness of any registration or qualification of the Shares
                      or
                      enjoining the use of the Subscription Agreement in connection
                      with the
                      offer, sale, or offer for sale of the Shares, or of the initiation
                      of any
                      proceedings for that
                      purpose.

                  

          

        

      

       

      
        
          
            
              
                	8.	 	
                        (a)    Conditions
                          to Placement Agent’s Obligations. The obligations of the Placement
                          Agent hereunder will be subject to the accuracy of the
                          representations and
                          warranties of the Company herein contained as of the date
                          hereof and as of
                          the Closing Date, to the performance by the Company of
                          its obligations
                          hereunder and to the following additional
                          conditions:

                      

              

            

          

        

      

      
      

      
        
              (i)    Due
            Qualification or Exemption.
            (A) The
            offering contemplated by this Agreement will become qualified or be exempt
            from
            qualification under the securities laws of the several states no later
            than the
            first Closing, and (B) at each Closing no stop order suspending the sale
            of the
            Securities shall have been issued, and no proceeding for that purpose
            shall have
            been initiated or threatened;

        

      

      
      

      
        
              (ii)    No
            Material Misstatements.
            The
            Placement Agent will not have notified the Company that the Blue Sky
            qualification materials or the Disclosure Statement, or any supplement
            thereto,
            contains an untrue statement of a fact which in its opinion is material,
            or
            omits to state a fact, which in its opinion is material and is required
            to be
            stated therein, or is necessary to make the statements therein not
            misleading;

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
      

      
        
          
            
              (iii)    Compliance
                with Agreements.
                The
                Company will have complied with all agreements and satisfied all
                conditions on
                its part to be performed or satisfied hereunder at or prior to the
                Closing
                Date;

            

          

        

      

       

      
        
          
                (iv)    Corporate
              Action.
              The
              Company will have taken all necessary corporate action, including,
              without
              limitation, obtaining the approval of the Company’s board of directors, for the
              execution and delivery of this Agreement, the Securities and the performance
              by
              the Company of its obligations hereunder and thereunder and the commencement
              of
              the offering contemplated hereby;

          

        

         

        
          
            (v)    Certificate
              of President.
              At the
              Closing Date, the Company will have delivered a certificate of its
              President to
              the effect set forth in this paragraph (a);

          

           

          (vi)    Opinion
            of Counsel.
            On the
            Closing Date, the Placement Agent will have received from the Company’s counsel
            (“Company Counsel”), a signed opinion, reasonably satisfactory to the Placement
            Agent, substantially to the effect that:

           

        

      

      
        
          
                (A) The
              Company is a corporation duly organized and validly existing under
              the laws of
              the State of Delaware, will full power and authority, corporate and
              other, and
              will all licenses, permits, certifications, registrations, approvals,
              consents
              and franchises to own or lease and operate its properties and to conduct
              its
              business as described in the Disclosure Statement.

          

        

      

       

      (B) The
        Company is duly qualified to do business as a foreign corporation and is
        in good
        standing in all jurisdictions wherein such qualification is necessary and
        the
        failure to so qualify could have a material adverse effect on the financial
        condition, results of operations, business or properties of the
        Company.

       

      (C) The
        Company has full power and authority, corporate and other, to execute, deliver
        and perform this Agreement, and to consummate the transactions contemplated
        hereby and thereby. The execution, delivery and performance of this Agreement
        by
        the Company, the consummation by the Company of the transactions herein and
        therein contemplated, the compliance by the Company with the terms of this
        Agreement, and the issuance and sale of the Securities have been duly authorized
        by all necessary corporate action. 

       

      (D) The
        execution, delivery and performance of this Agreement, the consummation by
        the
        Company of the transactions herein and therein contemplated and the compliance
        by the Company with the terms of this Agreement, do not, and will not, with
        or
        without the giving of notice or the lapse of time, or both: (1) result in
        a
        violation of the Certificate of Incorporation or By-Laws of the Company;
        or (2)
        violate any existing applicable law, rule, regulation, judgment, order or
        decree
        of any governmental agency or court, domestic or foreign, having jurisdiction
        over the Company or any of its properties or businesses. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (E) To
        the
        best of Company Counsel’s knowledge, no authorization, approval, consent, order,
        registration, license or permit of any court or governmental agency or body
        (other than under the Act, the regulations promulgated thereunder and applicable
        state securities or Blue Sky laws) is required for the valid authorization,
        issuance, sale and delivery of the Securities to the Subscribers therefor
        and
        the consummation by the Company of the transactions contemplated by this
        Agreement.

       

      (F) To
        the
        best of Company Counsel’s knowledge, no proceeding relating to the offering
        contemplated by the Disclosure Statement and no proceedings for that purpose
        have been instituted or are pending, threatened or contemplated under applicable
        securities laws.

       

      (G) The
        outstanding shares of Common Stock, and outstanding options, warrants and
        other
        securities to purchase Common Stock have been duly authorized and validly
        issued. All such outstanding shares of Common Stock are fully paid and
        nonassessable. All such outstanding options, warrants and other securities
        to
        purchase Common Stock constitute the valid and binding obligations of the
        Company, enforceable in accordance with their terms. None of such outstanding
        shares of Common Stock, options, warrants or other securities to purchase
        Common
        Stock has been issued in violation of the preemptive rights of any security
        holder of the Company

       

      (H) Upon
        delivery of the securities constituting the Securities to the Subscribers
        against full payment therefor as provided in this Agreement, the Subscribers
        will acquire good title to the Securities, free and clear of all liens,
        encumbrances, equities, security interests and claims, other than such liens,
        encumbrances, equities, security interests or claims placed on the securities
        by
        the subscriber therefor.

       

      (I) To
        the
        best of Company Counsel’s knowledge, there are no claims, actions, suits,
        proceedings, arbitrations, investigations or inquiries before any governmental
        agency, court or tribunal, foreign or domestic, or before any private
        arbitration tribunal, pending or threatened against the Company, or involving
        its properties or business, other than as described in the Disclosure
        Statement.

       

      (K) Company
        Counsel has inspected the questionnaires delivered to and completed by
        Subscribers in connection with their proposed investment in the Securities.
        The
        Offering contemplated by this Agreement is being made in compliance with
        Reg D
        adopted under the Act. No consent, approval, authorization or order of any
        court
        or governmental agency or body of the United States or any state of the United
        States or any political subdivision of the foregoing is required for the
        consummation of the offering contemplated by this Agreement, except such
        as may
        be required under the Blue Sky or other securities laws of any state
        of the
        United States in connection with the purchase of Securities by the Subscribers
        and the distribution of the Securities by the Placement Agent.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      In
        rendering its opinion, Company Counsel may rely upon (1) opinions of counsel
        acceptable to Placement Agent’s counsel with respect to matters relating to the
        laws of any jurisdiction other than Delaware and federal law, (2) the
        certificates of government officials and officers of the Company as to matters
        of fact, (3) the genuineness of all signatures, (4) the authenticity of the
        books and records of the Company, and (5) such other certificates, instruments
        and documents as Company Counsel considers necessary; provided that Company
        Counsel shall state that they have no reason to believe, and do not believe,
        that they are not justified in relying upon any of the foregoing.

       

      (b)    Conditions
        of the Company’s Obligations.
        The
        obligations of the Company hereunder will be subject to the accuracy of the
        representations and warranties of the Placement Agent contained herein as
        of the
        date hereof and as of the Closing Date, to the performance by the Placement
        Agent of its obligations hereunder and to the following additional
        conditions:

       

      (i) Absence
        of Certain Events.
        No stop
        order suspending the sale of the Securities will have been issued, and no
        proceeding for that purpose will have been initiated or threatened;
        and

       

      (ii)  No
        Material Misstatements.
        The
        Company will not have notified the Placement Agent that the Blue Sky
        qualification materials, or the Disclosure Statement, or any amendment or
        supplement thereto, contains an untrue statement of a fact, which in its
        opinion
        is material, or omits to state a fact, which in its opinion is material and
        is
        required to be stated therein or is necessary to make the statements therein
        not
        misleading, in each case only with respect to information contained therein
        concerning the Placement Agent.

       

      
        	9.	
                Expenses
                  of Sale.
                  The Company will pay all expenses incident to the proposed sale
                  of
                  Securities, whether or not the Offering is consummated, including,
                  without
                  limitation, the reasonable fees, disbursements and expenses of
                  (a) its
                  counsel and accountants, (b) all fees and expenses of registering
                  or
                  qualifying the Securities for offer and sale in the applicable
                  states, or
                  obtaining exemptions therefrom, and (c) all other expenses relating
                  to the
                  Offering.

              

      

       

      
        	10.	
                Indemnification.
                  The Company agrees to indemnify and hold harmless the Placement
                  Agent and
                  each person, if any, who controls the Placement Agent within the
                  meaning
                  of the Act or the Exchange Act against any losses, claims, damages
                  or
                  liabilities, joint or several, to which the Placement Agent or
                  such
                  controlling person may become subject, under the Act or otherwise,
                  insofar
                  as such losses, claims, damages or liabilities (or actions in respect
                  thereof) arise out of or are based upon (i) any untrue statement
                  or
                  alleged untrue statement of a material fact contained (A) in the
                  Disclosure Statement, or (B) in any Blue Sky Application
                  (as
                  hereinafter defined) or other document executed by the Company
                  specifically for that purpose or based upon written information
                  furnished
                  by the Company filed in any state or other jurisdiction in order
                  to
                  qualify any or all of the Securities under the securities laws
                  thereof
                  (any such application, document or information being hereinafter
                  called a
                  “Blue Sky Application”), (ii) the omission or alleged omission to state in
                  the Disclosure Statement or in any Blue Sky Application a material
                  fact
                  required to be stated therein or necessary to make the statements
                  therein
                  not misleading, or (iii) any untrue statement or alleged untrue
                  statement
                  of a material fact contained in the Disclosure Statement or the
                  omission
                  or alleged omission to state therein a material fact required to
                  be stated
                  therein or necessary in order to make the statements therein, in
                  the light
                  of the circumstances under which they were made, not misleading;
                  and will
                  reimburse the Placement Agent and each such controlling person
                  for any
                  legal or other expenses reasonably incurred by the Placement Agent
                  or such
                  controlling person in connection with investigating or defending
                  any such
                  loss, claim, damage, liability or action; provided, however, that
                  the
                  Company will not be liable in any such case to the extent that
                  any such
                  loss, claim, damage or liability arises out of or is based upon
                  an untrue
                  statement or alleged untrue statement or omission or alleged omission
                  made
                  in reliance upon and in conformity with written information furnished
                  to
                  the Company by the Placement Agent specifically for use in the
                  preparation
                  of the Disclosure Statement or any such Blue Sky
                  Application.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      If
        for
        any reason (other than as specifically provided herein) the foregoing indemnity
        for an indemnified claim is unavailable to an indemnified party or insufficient
        to fully hold any indemnified party harmless, then the Company shall contribute
        to the amount paid or payable by such Indemnified Party as a result of such
        indemnified claim in such proportion as is appropriate to reflect the relative
        benefits received by and fault of the Company on the one hand, and the relative
        benefits received by and fault of the indemnified party on the other hand,
        as
        well as any relevant equitable considerations. Notwithstanding any provisions
        herein to the contrary, the aggregate contribution of all of the Indemnified
        Parties for all indemnified claims shall not exceed the amount of fees annually
        received by the Placement Agent pursuant to this Agreement. It is hereby
        further
        agreed that the relative fault of the Company on the one hand and an indemnified
        party on the other hand, as well as the parties’ relative intent, knowledge,
        access to information and opportunity to correct or prevent such statement,
        opinion, conclusion, or omission. No indemnified party shall have any liability
        to the Company or any other person in connection with the services rendered
        pursuant to the letter except for any liability for losses, claims, damages
        or
        liabilities finally judicially determined to have resulted principally from
        actions taken as a direct result of such indemnified party’s gross negligence or
        willful misconduct. The indemnity, contribution and expense reimbursement
        agreements and obligations set for the herein shall be in addition to any
        other
        rights, remedies or indemnification which any indemnified party may have
        or be
        entitled to at common law or otherwise, and shall remain operative and in
        full
        force and effect regardless of any investigation made by or on behalf of
        any
        indemnified party. In addition, the Company shall offer such indemnification
        and
        expense advance and reimbursement as it may be permitted to offer or extend
        pursuant to its Bylaws, Charter, Articles of Incorporation or insurance.
        The
        Company further agrees that the indemnification and expense advance and
        reimbursement obligations set forth herein shall apply whether or not the
        Placement Agent or any other indemnified party is a formal party in such
        indemnified claim. The Company will not be permitted to settle any indemnified
        claim without the prior consent of the Placement Agent or any indemnified
        party
        involved therein if any admission of wrong doing, negligence or improper
        activity of any kind of the Placement Agent or such indemnified party is
        a part
        of such settlement. 

       

      the
        Placement Agent, agrees to indemnify and hold harmless the Company, each
        person,
        if any, who controls the Company within the meaning of the Acts, and each
        of
        their partners, managing directors, officers, employees, professional advisors
        and agents (each being herein called a "Company Indemnified Party") against
        any
        losses, claims, damages, expenses or liabilities (or actions in respect
        thereof), joint or several, to which such Company Indemnified Party may be
        subject, under the Acts (including Regulation D) or otherwise, or based upon
        the
        breach of any representation, warranty or covenant of the Placement Agent,
        set
        forth in this Agreement, and so far as such losses, claims, expenses, damages
        or
        liabilities (or actions in respect thereof) arise out of or are based upon
        the
        gross negligence, willful misconduct or bad faith of the Placement Agent,
        or any
        Participating Broker-Dealer; and will reimburse any Company Indemnified Party
        for any legal or other expenses reasonably incurred by the Company Indemnified
        Party in connection with the investigation of or defending against any such
        loss, claim, expense, damage or liability (or actions in respect thereof);
        provided, however, that the Placement Agent, shall not be required to indemnify
        a Company Indemnified Party for any payment made to any claimant in settlement
        of any suit or claim unless such payment is agreed to by the Placement Agent
        (which agreement shall not be unreasonably withheld) or by a court having
        jurisdiction of the controversy. This indemnity agreement shall survive
        consummation of the sale of the Shares hereunder and shall be in addition
        to any
        liability which the Placement Agent, may otherwise have. Notwithstanding
        the
        foregoing, the Company Indemnified Party shall not be entitled to an
        indemnification amount greater than the sales commission pursuant to paragraph
        four (4) herein.

      

      
        	
                11.

              	
                Representations
                  and Agreements to Survive Delivery.
                  All representations, warranties and agreements of the Company and
                  of the
                  Placement Agent herein will survive the delivery and execution
                  hereof and
                  the closings hereunder, and shall remain operative and in full
                  force and
                  effect regardless of any investigation made by or on behalf of
                  the
                  Placement Agent or any person who controls the Placement Agent
                  within the
                  meaning of the Act, or by the Company or any person who controls
                  the
                  Company within the meaning of the Act, and will survive delivery
                  of the
                  Securities constituting the Securities hereunder and any termination
                  of
                  this Agreement.

              

      

      

      
        	
                12.

              	
                Termination
                  by Placement Agent.
                  The Placement Agent will have the right to terminate this Agreement
                  by
                  giving written notice as herein specified, at any time, at or prior
                  to the
                  Closing Date:

              

      

       

      
        
          	 	
                      (a)    If
                    the Company shall have failed, refused, or been unable at or
                    prior to the
                    date of termination of this Agreement, to perform any of its
                    obligations
                    hereunder;

                

        

        
          	 	 

        

        
          	 	
                      (b)    Prior
                    to any Closing Date, the Congress of the United States or any
                    state
                    legislative body passes any act or measure, or any order, rule
                    or
                    regulation is adopted by any governmental body or any authoritative
                    accounting institute or board, or any governmental executive,
                    which is
                    believed in good faith by the Placement Agent to have a material
                    impact on
                    the markets for securities in general or if a banking moratorium
                    should
                    have been declared by the United States of Florida
                    authorities;

                

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          
            	 	
                        (c)    If
                      any other condition of the Placement Agent’s obligations hereunder is not
                      fulfilled; or

                  

          

          
            	 	 

          

          
            	 	
                        (d)    There
                      has occurred an event materially or adversely affecting the
                      Company.

                  

          

           

        

      

      If
        the
        Placement Agent elects to terminate this Agreement pursuant to subsection
        12(a),
        (b), (c) or (d) hereof, the Company will be notified promptly by telephone,
        and
        such notification will be confirmed by notice as provided for in Section
        13
        hereof.

       

      This
        Agreement and the Offering shall terminate automatically on April 30, 2005,
        unless extended by mutual agreement.

       

      
        	13.	
                Notices.
                  Any notice hereunder shall be in writing and shall be effective
                  when
                  delivered, or mailed by certified or registered mail, postage prepaid,
                  return receipt requested, to the appropriate party or parties,
                  at the
                  following addresses:

              

      

       

      If
        to the
        Placement Agent, to:

       

      Capitalink,
        L.C.

      One
        Alhambra Plaza

      Suite
        1410

      Coral
        Gables, FL 33134

      Attention:
        James S. Cassel, President

      

       

      If
        to the
        Company, to:

       

      Bio-Lok
        International Inc.

      368
        S.
        Military Trail

      Deerfield
        Beach, FL 33442

      Attention:
        Bruce L. Hollander, President

      

      
        	
                14.

              	
                Amendment
                  and/or Modification.
                  Neither this Agreement, nor any term of provision hereof, may be
                  changed,
                  waived, discharged, amended, modified or terminated orally, or
                  in any
                  manner other than by an instrument in writing signed by each of
                  the
                  parties hereto.

              

      

       

      
        	
                15.

              	
                Further
                  Assurances.
                  Each party to this Agreement will perform any and all acts and
                  execute any
                  and all documents as may be necessary and proper under the circumstances
                  in order to accomplish the intents and purposes of this Agreement
                  and to
                  carry out its provisions.

              

      

       

      
        	
                16.

              	
                Validity.
                  In case any term of this Agreement will be held invalid, illegal
                  or
                  unenforceable, in whole or in part, the validity of any of the
                  other terms
                  of this Agreement will not in any way be affected
                  thereby.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                17.

              	
                Waiver
                  of Breach.
                  The failure of any party hereto to insist upon strict performance
                  of any
                  of the covenants and agreements herein contained, or to exercise
                  any
                  option or right herein conferred in any one or more instances,
                  will not be
                  construed to be a waiver or relinquishment of any such option or
                  right, or
                  of any other covenants or agreements, and the same will be and
                  remain in
                  full force and effect.

              

      

       

      
        	
                18.

              	
                Entire
                  Agreement.
                  This Agreement contains the entire agreement and understanding
                  of the
                  parties with respect to the entire subject matter hereof, and there
                  are no
                  representations, inducements, promises or agreements, oral or otherwise,
                  not embodied herein. Any and all prior discussions, negotiations,
                  commitments and understanding relating thereto are superseded hereby.
                  There are no conditions precedent to the effectiveness of this
                  Agreement
                  other than as stated herein, and there are no related collateral
                  agreements existing between the parties that are not referred to
                  herein.

              

      

       

      
        	
                19.

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

              

      

       

      
        	
                20.

              	
                Law.
                  This Agreement will be deemed to have been made and delivered in
                  Florida
                  and will be governed as to validity, interpretation, construction,
                  effect
                  and in all other respects by the internal laws of the State of
                  Florida.
                  

              

      

       

      If
        the
        foregoing correctly sets forth our understanding, please so indicate in the
        space provided below for that purpose, whereupon this letter will constitute
        a
        binding agreement between us.

       

      

       

      
        	
                 CAPITALINK,
                  L.C.

                 

              
	/s/ James
                S. Cassel
	
                

              
	Name:
                James S. Cassel
Title: President

      

       

      
         

        
          	
                  BIO-LOK
                    INTERNATIONAL INC.

                   

                
	/s/ Bruce
                  L. Hollander  
	
                  

                
	
                  Name:
                    Bruce L. Hollander

                  Title:
                    President& CEO

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