Document:

THIS
      NOTE
      AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS NOTE AND THE
      COMMON SHARES ISSUABLE UPON CONVERSION OF THIS NOTE MAY NOT BE SOLD, OFFERED
      FOR
      SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
      STATEMENT AS TO THIS NOTE UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

    

    CONVERTIBLE
      NOTE

    

      FOR
        VALUE
        RECEIVED, bioMETRX, Inc., a Delaware Corporation (hereinafter called
        "Borrower"), hereby promises to pay to Joseph Panico, (the "Holder") or
his
        assigns
        or successors in interest or order, without demand, the sum of Four Hundred
        Thousand Dollars ($400,000) (“Principal Amount”), with simple and unpaid
        interest thereon, 9 months from closing date of August __, 2007 (the "Maturity
        Date"), if not sooner paid.

    ARTICLE
      I

    

    INTEREST;
      AMORTIZATION

       

       1.1.  Interest
        Rate. Subject
        to Section 4.7 hereof, interest payable on this Note shall accrue at a rate
        per
        annum (the "Interest Rate") of ten percent (10%). Interest on the Principal
        Amount shall accrue from the date of this Note and shall be due
        and
payable
        beginning
        at the start of the fourth (4th) month after issuance and be due and payable
        on
        the first of every month thereafter until the Note is paid in full. The
        Holder
        shall
        have the option to accept payment
        of
        interest in shares of the Company’s common stock
        (“Common
        Stock”).
        The
        number of shares will be based on the “market value” of the Common
        Stock.
        The
        Market Value will be determined by averaging the closing price of the Company’s
        common stock for the ten (10) trading days, immediately prior to the
interest
        payment date.

    

    

      1.2
        Default
        Interest Rate.
        Following the occurrence and during the continuance of an Event of Default,
        provided
        that such default is not cured within ten (10) days of notice of default,
        then
        from
        the first date of such occurrence, the annual interest rate on this Note
        shall
        (subject to Section 5.7) automatically be increased to sixteen
        percent
        (16%).
        

    

    

    ARTICLE
      II

    

    CONVERSION
      RIGHTS

    

    2.1. Holder's
      Conversion Rights.
      Subject
      to Section 2.2, the Holder shall have the right, but not the obligation at
      all
      times, to convert all or any portion of the then aggregate outstanding Principal
      Amount of this Note, into shares of Common Stock, subject to the terms and
      conditions set forth in this Article II at the rate of $1.00 per share of Common
      Stock (“Fixed Conversion Price”) as same may be adjusted pursuant to this Note
      and the Subscription Agreement. The Holder may exercise such right by delivery
      to the Borrower of a written Notice of Conversion pursuant to Section 2.3.
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      2.2 Conversion
        Limitation.
        The
        Holder shall not be entitled to convert on a Conversion Date that amount
        of the
        Note in connection with that number of shares of Common Stock which would
        be in
        excess of the sum of (i) the number of shares of Common Stock beneficially
        owned
        by the Holder and its affiliates on a Conversion Date, (ii) any Common Stock
        issuable in connection with the unconverted portion of the Note, and (iii)
        the
        number of shares of Common Stock issuable upon the conversion of the Note
        with
        respect to which the determination of this provision is being made on a
        Conversion Date, which would result in beneficial ownership by the Holder
        and
        its affiliates of more than 4.99% of the outstanding shares of Common Stock
        of
        the Borrower on such Conversion Date. For the purposes of the provision to
        the
        immediately preceding sentence, beneficial ownership shall be determined
        in
        accordance with Section 13(d) of the Securities Exchange Act of 1934, as
        amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Holder
        shall not be limited to aggregate conversions of only 4.99% and aggregate
        conversion by the Holder may exceed 4.99%. The Holder shall have the authority
        and obligation to determine whether the restriction contained in this Section
        2.2 will limit any conversion hereunder and to the extent that the Holder
        determines that the limitation contained in this Section applies, the
        determination of which portion of the Notes are convertible shall be the
        responsibility and obligation of the Holder. The Holder may waive the conversion
        limitation described in this Section 2.2, in whole or in part, upon and
        effective after 61 days prior written notice to the Borrower. The Holder
        may
        decide
        whether to convert a Note or exercise Warrants to achieve an actual 4.99%
        ownership position.

    2.3. Mechanics
      of Holder's Conversion.
      

    

    (a) In
      the
      event that the Holder elects to convert any amounts outstanding under this
      Note
      into Common Stock, the Holder shall give notice of such election by delivering
      an executed and completed notice of conversion (a "Notice of Conversion") to
      the
      Borrower, which Notice of Conversion shall provide a breakdown in reasonable
      detail of the Principal Amount, accrued interest and amounts being converted.
      The original Note is not
      required
      to be surrendered to the Borrower
      until
      all sums due under the Note have been paid. On each Conversion Date (as
      hereinafter defined) and in accordance with its Notice of Conversion, the Holder
      shall make the appropriate reduction to the Principal Amount, accrued interest
      and fees as entered in its records. Each date on which a Notice of Conversion
      is
      delivered or telecopied to the Borrower in accordance with the provisions hereof
      shall be deemed a "Conversion Date." A form of Notice of Conversion to be
      employed by the Holder is annexed hereto as Exhibit A.

    

    (b) Pursuant
      to the terms of a Notice of Conversion, the Borrower will issue instructions
      to
      the transfer agent accompanied by an opinion of counsel, if so required by
      the
      Borrower's transfer agent and shall cause the transfer agent to transmit the
      certificates representing the Conversion Shares to the Holder by crediting
      the
      account of the Holder's designated broker with the Depository Trust Corporation
      ("DTC") through its Deposit Withdrawal Agent Commission ("DWAC") system within
      three (3) business days after receipt by the Borrower of the Notice of
      Conversion (the "Delivery Date"). In the case of the exercise of the conversion
      rights set forth herein the conversion privilege shall be deemed to have been
      exercised and the Conversion Shares issuable upon such conversion shall be
      deemed to have been issued upon the date of receipt by the Borrower of the
      Notice of Conversion. The Holder shall be treated for all purposes as the record
      holder of such shares of Common Stock, unless the Holder provides the Borrower
      written instructions to the contrary. Notwithstanding
      the foregoing to the contrary, the Borrower or its transfer agent shall only
      be
      obligated to issue and deliver the shares to the DTC on the Holder’s behalf via
      DWAC (or certificates free of restrictive legends) if the registration statement
      providing for the resale of the shares of Common Stock issuable upon the
      conversion of this Note is effective and the Holder has complied with all
      applicable securities laws in connection with the sale of the Common Stock,
      including, without limitation, the prospectus delivery requirements. In the
      event that Conversion Shares cannot be delivered to the Holder via DWAC, the
      Borrower shall deliver physical certificates representing the Conversion Shares
      by the Delivery Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    2.4. Conversion
      Mechanics.

    

    (a) The
      number of shares of Common Stock to be issued upon each conversion of this
      Note
      pursuant to this Article II shall be determined by dividing that portion of
      the
      Principal Amount and interest and fees to be converted, if any, by the then
      applicable Fixed Conversion Price.

    

    (b) The
      Fixed
      Conversion Price and number and kind of shares or other securities to be issued
      upon conversion shall be subject to adjustment from time to time upon the
      happening of certain events while this conversion right remains outstanding,
      as
      follows:

    

    A. Merger,
      Sale of Assets, etc.
      If the
      Borrower at any time shall consolidate with or merge into or sell or convey
      all
      or substantially all its assets to any other corporation, this Note, as to
      the
      unpaid principal portion thereof and accrued interest thereon, shall thereafter
      be deemed to evidence the right to purchase such number and kind of shares
      or
      other securities and property as would have been issuable or distributable
      on
      account of such consolidation, merger, sale or conveyance, upon or with respect
      to the securities subject to the conversion or purchase right immediately prior
      to such consolidation, merger, sale or conveyance. The foregoing provision
      shall
      similarly apply to successive transactions of a similar nature by any such
      successor or purchaser. Without limiting the generality of the foregoing, the
      anti-dilution provisions of this Section shall apply to such securities of
      such
      successor or purchaser after any such consolidation, merger, sale or
      conveyance.

    

    B. Reclassification,
      etc.
      If the
      Borrower at any time shall, by reclassification or otherwise, change the Common
      Stock into the same or a different number of securities of any class or classes,
      this Note, as to the unpaid principal portion thereof and accrued interest
      thereon, shall thereafter be deemed to evidence the right to purchase an
      adjusted number of such securities and kind of securities as would have been
      issuable as the result of such change with respect to the Common Stock
      immediately prior to such reclassification or other change.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    C. Stock
      Splits, Combinations and Dividends.
      If the
      shares of Common Stock are subdivided or combined into a greater or smaller
      number of shares of Common Stock, or if a dividend is paid on the Common Stock
      in shares of Common Stock, the Conversion Price shall be proportionately reduced
      in case of subdivision of shares or stock dividend or proportionately increased
      in the case of combination of shares, in each such case by the ratio which
      the
      total number of shares of Common Stock outstanding immediately after such event
      bears to the total number of shares of Common Stock outstanding immediately
      prior to such event.

    

    D. Share
      Issuance.
      If the
      Borrower shall issue any Common Stock except for the Excepted Issuances (as
      defined in the Securities Purchase Agreement), prior to the complete conversion
      or payment of this Note, for a consideration less than the Fixed Conversion
      Price that would be in effect at the time of such issue, then, and thereafter
      successively upon each such issuance, the Fixed Conversion Price shall be
      reduced to such other lower issue price. For purposes of this adjustment, the
      issuance of any security or debt instrument of the Borrower carrying the right
      to convert such security or debt instrument into Common Stock or of any warrant,
      right or option to purchase Common Stock shall result in an adjustment to the
      Fixed Conversion Price upon the issuance of the above-described security, debt
      instrument, warrant, right, or option and again upon the issuance of shares
      of
      Common Stock upon exercise of such conversion or purchase rights if such
      issuance is at a price lower than the then applicable Conversion Price. The
      reduction of the Fixed Conversion Price described in this paragraph is in
      addition to the other rights of the Holder described in the Securities Purchase
      Agreement.

    

    (c) Whenever
      the Conversion Price is adjusted pursuant to Section 2.4(b) above, the Borrower
      shall promptly mail to the Holder a notice setting forth the Conversion Price
      after such adjustment and setting forth a statement of the facts requiring
      such
      adjustment.

    

    2.5. Reservation.
      During
      the period the conversion right exists, Borrower will reserve from its
      authorized and unissued Common Stock not less than one
      hundred
      percent
      (100%)
      of the
      number of shares to provide for the issuance of Common Stock upon the full
      conversion of this Note.
      Borrower represents that upon issuance, such shares will be duly and validly
      issued, fully paid and non-assessable. Borrower agrees that its issuance of
      this
      Note shall constitute full authority to its officers, agents, and transfer
      agents who are charged with the duty of executing and issuing stock certificates
      to execute and issue the necessary certificates for shares of Common Stock
      upon
      the conversion of this Note.

    

    2.6. Issuance
      of Replacement Note.
      Upon
      any partial conversion of this Note, a replacement Note containing the same
      date
      and provisions of this Note shall, at the written request of the Holder,
be
      issued
      by the Borrower to the Holder for the outstanding Principal Amount of this
      Note
      and accrued interest which shall not have been converted or paid, provided
      Holder has surrendered an original Note to the Company. In the event that the
      Holder elects not to surrender a Note for reissuance upon partial payment or
      conversion, the Holder hereby indemnifies the Borrower against any and all
      loss
      or damage attributable to a third-party claim in an amount in excess of the
      actual amount then due under the Note.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    ARTICLE
      III

    

    EVENTS
      OF DEFAULT

    

    The
      occurrence of any of the following events of default ("Event of Default") shall,
      at the option of the Holder hereof, make all sums of principal and interest
      then
      remaining unpaid hereon and all other amounts payable hereunder immediately
      due
      and payable, upon demand, without presentment, or grace period, all of which
      hereby are expressly waived, except as set forth below:

    

      3.1 Failure
        to Pay Principal or Interest.
        The
        Borrower fails to pay any installment of Principal Amount, interest or other
        sum
        due under this Note or any Transaction Document when due and such failure
        continues for a period of five ten (10)
        days
        after the due date.

    

    

      3.2 Breach
        of Covenant.
        The
        Borrower breaches any material covenant or other term or condition of this
        Note
        or Transaction Documents in any material respect and such breach, if subject
        to
        cure, continues for a period of ten (10) days
        after written notice to the Borrower from the Holder.

    

    

    3.3 Breach
      of Representations and Warranties.
      Any
      material representation or warranty of the Borrower made herein, in the
      Securities Purchase Agreement, Transaction Document or in any agreement,
      statement or certificate given in writing pursuant hereto or in connection
      herewith or therewith shall be false or misleading in any material respect
      as of
      the date made and the Closing Date.

    

    3.4 Receiver
      or Trustee.
      The
      Borrower or any Subsidiary of Borrower shall make an assignment for the benefit
      of creditors, or apply for or consent to the appointment of a receiver or
      trustee for them or for a substantial part of their property or business; or
      such a receiver or trustee shall otherwise be appointed.

    

      3.5 Judgments.
        Any
        money judgment, writ or similar final process shall be entered or filed against
        Borrower or any subsidiary of Borrower or any of their property or other
        assets
        for more than $50,000 and shall remain unvacated, unbonded or unstayed for
        a
        period of forty-five (45) days
        or in
        any event later than five (5) days prior to the date of any proposed sale
        thereunder.

    

    
      3.6 Non-Payment.
        The
        Borrower shall have received a notice of default, which remains uncured for
        a
        period of more than twenty (20)
        days, on
        the payment of any one or more debts or obligations aggregating in excess
        of
        $50,000 beyond any applicable grace period;

    

    

    3.7 Bankruptcy.
      Bankruptcy, insolvency, reorganization or liquidation proceedings or other
      proceedings or relief under any bankruptcy law or any law, or the issuance
      of
      any notice in relation to such event, for the relief of debtors shall be
      instituted by or against the Borrower or any Subsidiary of Borrower and if
      instituted against them are not dismissed within sixty (60) days
      of
      initiation.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    3.8 Delisting.
      Failure
      of the Common Stock to be quoted or listed on the Principal Market; failure
      to
      comply with the requirements for continued listing on the Bulletin Board for
      a
      period of seven consecutive trading days; or notification from the Bulletin
      Board or any Principal Market that the Borrower is not in compliance with the
      conditions for such continued listing on the Principal Market.

    

    3.9 Stop
      Trade.
      An SEC
      or judicial stop trade order or Principal Market trading suspension with respect
      to Borrower’s Common Stock that lasts for five or more consecutive trading
      days.

    

    
      	
            	3.10	
              Failure
                to Deliver Common Stock or Replacement Note.
                Borrower's failure to timely deliver Common Stock to the Holder pursuant
                to and in the form required by this Note if requested by Borrower,
                a
                replacement Note, and such failure continues for a period of five
                (5)
                business days after the due date.

            

    

    

    
      	
            	3.11	
              Cross
                Default.
                An
                Event of Default (as defined herein and in the Holder’s Warrants and
                Registration Rights Agreement respectively) in any other Note or
                Warrant
                issued by the Company to the Holder pursuant to any other agreement
                between the parties currently existing or in the future shall constitute
                an Event of Default, where a ‘Cross Default’ means a default by the
                Company of a material term, covenant, warranty or undertaking of
                any of
                the documents or other agreement to which the Company and Holder
                are
                parties, including but not limited to the Notes, the Common Stock
                Purchase
                Warrants, Warrant Amendments, Registration of Rights Agreement and
                Royalty
                Agreement or the occurrence of a material event of default under
                any such
                other agreement which is not cured after any required notice and/or
                cure
                period

            

    

     

    ARTICLE
      IV

    

    ADDITIONAL
      CONSIDERATION

    

    4.1 Common
      Stock. As consideration for providing the loan evidenced by this Note the
      Company shall issue to the Holder within five (5) business days from the date
      of
      closing 87,500 shares of its common stock.

    

    4.2
      Warrants. In addition to the common stock discussed in Section 4.1 the Company
      shall issue the Holder 87,500 Common Stock Purchase Warrants (“Warrants”),
      within seven (7) days of closing of this Agreement. The Warrants shall have
      a
      term of four (4) years and shall be exercisable of a price of $1.00 per share.
      The Company shall also amend any and all warrants currently held by the holder,
      within 15 days of closing so as to extend the exercise date by an additional
      four (4) years and reset the exercise price of these warrants to $1.00 per
      share.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    4.3
      Collateral.
      The
      Company or an affiliate/subsidiary of the Company shall pledge 500,000 shares
      of
      the Company’s common stock as collateral for the loan within five (5) business
      days from the date of closing 87,500 shares of its common stock.

    

    .
      The
      shares will be deposited and held in escrow by the Holder’s
      counsel.

    

    ARTICLE
      V

    

    MISCELLANEOUS

    

    5.1 Failure
      or Indulgence Not Waiver.
      No
      failure or delay on the part of Holder hereof in the exercise of any power,
      right or privilege hereunder shall operate as a waiver thereof, nor shall any
      single or partial exercise of any such power, right or privilege preclude other
      or further exercise thereof or of any other right, power or privilege. All
      rights and remedies existing hereunder are cumulative to, and not exclusive
      of,
      any rights or remedies otherwise available.

    

      5.2 Notices.
        All
        notices, demands, requests, consents, approvals, and other communications
        required or permitted hereunder shall be in writing and, unless otherwise
        specified herein, shall be (i) personally served, (ii) deposited in the mail,
        registered or certified, return receipt requested, postage prepaid, (iii)
        delivered by reputable air courier service with charges prepaid, or (iv)
        transmitted by hand delivery, telegram, or facsimile, addressed as set forth
        below or to such other address as such party shall have specified most recently
        by written notice. Any notice or other communication required or permitted
        to be
        given hereunder shall be deemed effective upon
        receipt. 

    5.3 Amendment
      Provision.
      The
      term "Note" and all reference thereto, as used throughout this instrument,
      shall
      mean this instrument as originally executed, or if later amended or
      supplemented, then as so amended or supplemented.

    

    5.4 Assignability.
      This
      Note shall be binding upon the Borrower and its successors and assigns, and
      shall inure to the benefit of the Holder and its successors and
      assigns.

    

    5.5 Cost
      of Collection.
      If
      default is made in the payment of this Note, Borrower shall pay the Holder
      hereof reasonable costs of collection, including reasonable attorneys'
      fees.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      5.6 Governing
        Law.
        This
        Note shall be governed by and construed in accordance with the laws of the
        State
        of New York, without regard to conflicts
        of laws
        principles that would result in the application of the substantive laws of
        another jurisdiction. Any
        action brought by either party against the other concerning the transactions
        contemplated by this Agreement shall be brought only in the state courts
        of New
        York or in the federal courts located in the State
        of New
        York, each located in the County
        of New
        York. The prevailing party shall be entitled to recover from the other party
        its
        reasonable attorney's fees and costs. In the event that any provision of
        this
        Note is invalid or unenforceable under any applicable statute or rule of
        law,
        then such provision shall be deemed inoperative to the extent that it may
        conflict therewith and shall be deemed modified to conform with such statute
        or
        rule of law. Any such provision which may prove invalid or unenforceable
        under
        any law shall not affect the validity or unenforceability of any other provision
        of this Note. Nothing contained herein shall be deemed or operate to preclude
        the Holder from bringing suit or taking other legal action against the Borrower
        in any other jurisdiction to collect on the Borrower's obligations to Holder,
        to
        realize on any collateral or any other security for such obligations, or
        to
        enforce a judgment or other court in favor of the Holder.

    5.7 Maximum
      Payments.
      Nothing
      contained herein shall be deemed to establish or require the payment of a rate
      of interest or other charges in excess of the maximum permitted by applicable
      law. In the event that the rate of interest required to be paid or other charges
      hereunder exceed the maximum permitted by such law, any payments in excess
      of
      such maximum shall be credited against amounts owed by the Borrower to the
      Holder and thus refunded to the Borrower.

    

    5.8. Construction.
      Each
      party acknowledges that its legal counsel participated in the preparation of
      this Note and, therefore, stipulates that the rule of construction that
      ambiguities are to be resolved against the drafting party shall not be applied
      in the interpretation of this Note to favor any party

    against
      the other.

    

    5.9 Redemption.
      This
      Note may not be redeemed or called without the consent of the Holder except
      as
      described in this Note.

    

    5.10 Shareholder
      Status.
      The
      Holder shall not have rights as a shareholder of the Borrower with respect
      to
      unconverted portions of this Note. However, the Holder will have the rights
      of a
      shareholder of the Borrower with respect to the Shares of Common Stock to be
      received after delivery by the Holder of a Conversion Notice to the
      Borrower.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      Borrower has caused this Note to be signed in its name by an authorized officer
      as of the ____ day of August, 2007.

    

    
      	 	 	 
	 	bioMETRX,
              Inc.
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              
Name:
	 	Title:

 

    WITNESS:

    

    ______________________________________

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    NOTICE
      OF CONVERSION

    

    (To
      be
      executed by the Registered Holder in order to convert the Note)

    

    

    The
      undersigned hereby elects to convert $_________ of the principal and $_________
      of the interest due on the Note issued by bioMETRX, Inc. (the "Borrower") on
      August ____, 2007 into Shares of Common Stock of the Borrower according to
      the
      conditions set forth in such Note, as of the date written
      below.

    

    

    Date
      of
      Conversion:_________________________________________________________________

    

    

    Conversion
      Price:___________________________________________________________________

    

    

    Number
      of
      Shares of Common Stock Beneficially Owned on the Conversion Date: Less than
      5%
      of the outstanding Common Stock of Borrower

    

    Shares
      To
      Be
      Delivered:______________________________________________________________

    

    Signature:________________________________________________________________________

    

    Print
      Name:________________________________________________________________________

    

    Address:_________________________________________________________________________

    

    _________________________________________________________________________Unassociated Document

     

    NEITHER
      THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE
      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. THIS SECURITY
      AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN
      CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
      SECURITIES.

    

    COMMON
      STOCK PURCHASE WARRANT

    

    To
      Purchase 87,500 Shares of Common Stock of

     

    BIOMETRX,
      INC.

     

    THIS
      COMMON STOCK PURCHASE WARRANT (the “Warrant”)
      certifies that, for value received, Joseph Panico (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 the date hereof (the
      “Initial
      Issue Date”)
      and on
      or prior to the close of business on the four year anniversary of the Initial
      Issue Date (the “Termination
      Date”)
      but
      not thereafter, to subscribe for and purchase from bioMETRX, Inc., a Delaware
      corporation (the “Company”),
      up to
      87,500 shares (the “Warrant
      Shares”)
      of
      Common Stock, par value $0.001 per share, of the Company (the “Common
      Stock”).
      The
      purchase price of one share of Common Stock under this Warrant shall be equal
      to
      the Exercise Price, as defined in Section 1(b). 

     

    Section
      1. Exercise.

     

    a) Exercise
      of Warrant.
      Exercise of the purchase rights represented by this Warrant may be made, in
      whole or in part, at any time or times on or after the Initial Exercise Date
      and
      on or before the Termination Date by delivery to the Company of a duly executed
      facsimile copy of the Notice of Exercise Form annexed hereto (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, within 3 Trading Days of the date said Notice of Exercise is
      delivered to the Company, the Company shall have received payment
      of the aggregate Exercise Price of the shares thereby purchased by wire transfer
      or cashier’s check drawn on a United States bank. Notwithstanding anything
      herein to the contrary, the Holder shall not be required to physically surrender
      this Warrant to the Company until the Holder has purchased all of the Warrant
      Shares available hereunder and the Warrant has been exercised in full, in which
      case, the Holder shall surrender this Warrant to the Company for cancellation
      within 3 Trading Days of the date the final Notice of Exercise is delivered
      to
      the Company. Partial exercises of this Warrant resulting in purchases of a
      portion of the total number of Warrant Shares available hereunder shall have
      the
      effect of lowering the outstanding number of Warrant Shares purchasable
      hereunder in an amount equal to the applicable number of Warrant Shares
      purchased. The Holder and the Company shall maintain records showing the number
      of Warrant Shares purchased and the date of such purchases. The Company shall
      deliver any objection to any Notice of Exercise Form within 1 Business Day
      of
      receipt of such notice. In the event of any dispute or discrepancy, the records
      of the Holder shall be controlling and determinative in the absence of manifest
      error. The
      Holder and any assignee, by acceptance of this Warrant, acknowledge and agree
      that, by reason of the provisions of this paragraph, following the purchase
      of a
      portion of the Warrant Shares hereunder, the number of Warrant Shares available
      for purchase hereunder at any given time may be less than the amount stated
      on
      the face hereof.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    b) Exercise
      Price.
      The
      exercise price per share of the Common Stock under this Warrant shall be
$1.00,
      subject to adjustment hereunder (the “Exercise
      Price”).

     

    c) Call
      Option of the Company.
       The
      Company shall have the option to call all or a portion of this Warrant at a
      call
      premium equal to 120% of the Exercise Price in effect on such call date;
provided,
      however,
      that
      the Company shall provide the Holder with ten (10) days prior written notice
      of
      the Company’s election to call all or a portion of this Warrant. 

     

    d) Exercise
      Limitations.
      

     

    
      	 	
              i.

            	
              Holder’s
                Restrictions.
                The Company shall not effect any exercise of this Warrant, and a
                Holder
                shall not have the right to exercise any portion of this Warrant,
                pursuant
                to Section 1(c) or otherwise, to the extent that after giving effect
                to
                such issuance after exercise as set forth on the applicable Notice
                of
                Exercise, such Holder (together with such Holder’s Affiliates, and any
                other person or entity acting as a group together with such Holder
                or any
                of such Holder’s Affiliates), as set forth on the applicable Notice of
                Exercise, would beneficially own in excess of the Beneficial Ownership
                Limitation (as defined below). For purposes of the foregoing sentence,
                the
                number of shares of Common Stock beneficially owned by such Holder
                and its
                Affiliates shall include the number of shares of Common Stock issuable
                upon exercise of this Warrant with respect to which such determination
                is
                being made, but shall exclude the number of shares of Common Stock
                which
                would be issuable upon (A) exercise of the remaining, nonexercised
                portion
                of this Warrant beneficially owned by such Holder or any of its Affiliates
                and (B) exercise or conversion of the unexercised or nonconverted
                portion
                of any other securities of the Company (including, without limitation,
                any
                other Debenture or Warrants) subject to a limitation on conversion
                or
                exercise analogous to the limitation contained herein beneficially
                owned
                by such Holder or any of its affiliates. Except as set forth in the
                preceding sentence, for purposes of this Section 1(d)(i), beneficial
                ownership shall be calculated in accordance with Section 13(d) of
                the
                Exchange Act and the rules and regulations promulgated thereunder,
                it
                being acknowledged by a Holder that the Company is not representing
                to
                such Holder that such calculation is in compliance with Section 13(d)
                of
                the Exchange Act and such Holder is solely responsible for any schedules
                required to be filed in accordance therewith. To the extent that
                the
                limitation contained in this Section 1(d) applies, the determination
                of
                whether this Warrant is exercisable (in relation to other securities
                owned
                by such Holder together with any Affiliates) and of which a portion
                of
                this Warrant is exercisable shall be in the sole discretion of a
                Holder,
                and the submission of a Notice of Exercise shall be deemed to be
                each
                Holder’s determination of whether this Warrant is exercisable (in relation
                to other securities owned by such Holder together with any Affiliates)
                and
                of which portion of this Warrant is exercisable, in each case subject
                to
                such aggregate percentage limitation, and the Company shall have
                no
                obligation to verify or confirm the accuracy of such determination.
                In
                addition, a determination as to any group status as contemplated
                above
                shall be determined in accordance with Section 13(d) of the Exchange
                Act
                and the rules and regulations promulgated thereunder. For purposes
                of this
                Section 1(d), in determining the number of outstanding shares of
                Common
                Stock, a Holder may rely on the number of outstanding shares of Common
                Stock as reflected in (x) the Company’s most recent Form 10-QSB or Form
                10-KSB, as the case may be, (y) a more recent public announcement
                by the
                Company or (z) any other notice by the Company or the Company’s Transfer
                Agent setting forth the number of shares of Common Stock outstanding.
                Upon
                the written or oral request of a Holder, the Company shall within
                two
                Trading Days confirm orally and in writing to such Holder the number
                of
                shares of Common Stock then outstanding. In any case, the number
                of
                outstanding shares of Common Stock shall be determined after giving
                effect
                to the conversion or exercise of securities of the Company, including
                this
                Warrant, by such Holder or its Affiliates since the date as of which
                such
                number of outstanding shares of Common Stock was reported. The “Beneficial
                Ownership Limitation” shall be 9.99% of the number of shares of the Common
                Stock outstanding immediately after giving effect to the issuance
                of
                shares of Common Stock issuable upon exercise of this Warrant. The
                Beneficial Ownership Limitation may not be waived by such Holder.
                The
                provisions of this paragraph shall be construed and implemented in
                a
                manner otherwise than in strict conformity with the terms of this
                Section
                1(d)(i) to correct this paragraph (or any portion hereof) which may
                be
                defective or inconsistent with the intended Beneficial Ownership
                Limitation herein contained or to make changes or supplements necessary
                or
                desirable to properly give effect to such limitation. The limitations
                contained in this paragraph shall apply to a successor holder of
                this
                Warrant.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    ii. [RESERVED]
      

     

    e) Mechanics
      of Exercise.
      

     

    i. Authorization
      of Warrant Shares.
      Subject
      to Shareholder Approval, 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 created by the Company in respect of the issue thereof
      (other than taxes in respect of any transfer occurring contemporaneously with
      such issue). 

     

    ii. Delivery
      of Certificates Upon Exercise.
      Certificates for shares purchased hereunder shall be transmitted by the transfer
      agent of the Company to the Holder by crediting the account of the Holder’s
      prime broker with the Depository Trust Company through its Deposit Withdrawal
      Agent Commission (“DWAC”)
      system
      if the Company is a participant in such system, and otherwise by physical
      delivery to the address specified by the Holder in the Notice of Exercise within
      5 Trading Days from the delivery to the Company of the Notice of Exercise Form,
      surrender of this Warrant (if required) and payment of the aggregate Exercise
      Price as set forth above (“Warrant
      Share Delivery Date”).
      This
      Warrant shall be deemed to have been exercised on the date the Exercise Price
      is
      received by the Company. The Warrant Shares 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 1(e)(vii) prior to the issuance of such shares, have been paid.

     

    iii. Delivery
      of New Warrants Upon Exercise.
      If this
      Warrant shall have been exercised in part, the Company shall, at the request
      of
      a Holder and upon surrender of this Warrant certificate, 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.

     

    iv. Rescission
      Rights.
      If the
      Company fails to cause its transfer agent to transmit to the Holder a
      certificate or certificates representing the Warrant Shares pursuant to this
      Section 1(e)(iv) by the Warrant Share Delivery Date, then the Holder will have
      the right to rescind such exercise.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    v. Compensation
      for Buy-In on Failure to Timely Deliver Certificates Upon
      Exercise.
      In
      addition to any other rights available to the Holder, if the Company fails
      to
      cause its transfer agent to transmit to the Holder a certificate or certificates
      representing the Warrant Shares pursuant to an exercise on or before the Warrant
      Share Delivery Date, and if after such date the Holder is required by its broker
      to purchase (in an open market transaction or otherwise) shares of Common Stock
      to deliver in satisfaction of a sale by the Holder of the Warrant Shares which
      the Holder anticipated receiving upon such exercise (a “Buy-In”),
      then
      the Company shall (1) pay in cash to the Holder the amount by which (x) the
      Holder’s total purchase price (including brokerage commissions, if any) for the
      shares of Common Stock so purchased exceeds (y) the amount obtained by
      multiplying (A) the number of Warrant Shares that the Company was required
      to
      deliver to the Holder in connection with the exercise at issue times (B) the
      price at which the sell order giving rise to such purchase obligation was
      executed, and (2) at the option of the Holder, either reinstate the portion
      of
      the Warrant and equivalent number of Warrant Shares for which such exercise
      was
      not honored or deliver to the Holder the number of shares of Common Stock that
      would have been issued had the Company timely complied with its exercise and
      delivery obligations hereunder. For example, if the Holder purchases Common
      Stock having a total purchase price of $11,000 to cover a Buy-In with respect
      to
      an attempted exercise of shares of Common Stock with an aggregate sale price
      giving rise to such purchase obligation of $10,000, under clause (1) of the
      immediately preceding sentence the Company shall be required to pay the Holder
      $1,000. The Holder shall provide the Company written notice indicating the
      amounts payable to the Holder in respect of the Buy-In and, upon request of
      the
      Company, evidence of the amount of such loss. Nothing herein shall limit a
      Holder’s right to pursue any other remedies available to it hereunder, at law or
      in equity including, without limitation, a decree of specific performance and/or
      injunctive relief with respect to the Company’s failure to timely deliver
      certificates representing shares of Common Stock upon exercise of the Warrant
      as
      required pursuant to the terms hereof.

     

    vi. 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 at
      its
      election, either pay a cash adjustment in respect of such final fraction in
      an
      amount equal to such fraction multiplied by the Exercise Price or round up
      to
      the next whole share.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    vii. 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.

     

    viii. 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.

     

    f) Automatic
      Exercise. Pursuant to the terms hereof, if immediately prior to the
      Termination Date, to the extent this Warrant is not previously exercised, and
      at
      such time the fair market value of one share of the Company's Common Stock
      subject to this Warrant is greater than the Exercise Price, then in effect
      as
      adjusted pursuant to this Warrant, this Warrant shall be deemed automatically
      exercised pursuant to Section 1(a) above, even if not surrendered. For purposes
      of such automatic exercise, the fair market value of the Company's Common Stock
      immediately prior to the Termination Date shall be determined taking the
      averaging of the closing price of the Company’s Common Stock on the 3 Trading
      Days immediately prior to the Termination Date. To the extent this Warrant
      or
      any portion thereof is deemed automatically exercised pursuant to this Section
      1(f), the Company agrees to promptly notify the Holder of the number of shares
      of Common Stock, if any, the Holder hereof is to receive by reason of such
      automatic exercise and the Holder shall tender the Exercise Price to the Company
      within 10 days of receipt of such notice or forfeit the right to the Common
      Stock in connection with such automatic exercise.

     

    Section
      2. Certain Adjustments.

     

    a) Stock
      Dividends and Splits.
      If the
      Company, at any time while this Warrant is outstanding: (A) pays a stock
      dividend or otherwise make a distribution or distributions on shares of its
      Common Stock or any other equity or equity equivalent securities payable in
      shares of Common Stock (which, for avoidance of doubt, shall not include any
      shares of Common Stock issued by the Company upon exercise of this Warrant),
      (B)
      subdivides outstanding shares of Common Stock into a larger number of shares,
      (C) combines (including by way of reverse stock split) outstanding shares of
      Common Stock into a smaller number of shares, or (D) issues by reclassification
      of shares of the Common Stock any shares of capital stock of the Company, then
      in each case the Exercise Price shall be multiplied by a fraction of which
      the
      numerator shall be the number of shares of Common Stock (excluding treasury
      shares, if any) outstanding immediately before such event and of which the
      denominator shall be the number of shares of Common Stock outstanding
      immediately after such event and the number of shares issuable upon exercise
      of
      this Warrant shall be proportionately adjusted. Any adjustment made pursuant
      to
      this Section 2(a) shall become effective immediately after the record date
      for
      the determination of stockholders entitled to receive such dividend or
      distribution and shall become effective immediately after the effective date
      in
      the case of a subdivision, combination or re-classification.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    b) Pro
      Rata Distributions.
      If the
      Company, at any time while this Warrant is outstanding, shall distribute to
      all
      holders of Common Stock (and not to Holders of the Warrants) evidences of its
      indebtedness or assets (including cash and cash dividends) or rights or warrants
      to subscribe for or purchase any security other than the Common Stock, then
      in
      each such case the Exercise Price shall be adjusted by multiplying the Exercise
      Price in effect immediately prior to the record date fixed for determination
      of
      stockholders entitled to receive such distribution by a fraction of which the
      denominator shall be the VWAP determined as of the record date mentioned above,
      and of which the numerator shall be such VWAP on such record date less the
      then
      per share fair market value at such record date of the portion of such assets
      or
      evidence of indebtedness so distributed applicable to one outstanding share
      of
      the Common Stock as determined by the Board of Directors in good faith. In
      either case the adjustments shall be described in a statement provided to the
      Holder of the portion of assets or evidences of indebtedness so distributed
      or
      such subscription rights applicable to one share of Common Stock. Such
      adjustment shall be made whenever any such distribution is made and shall become
      effective immediately after the record date mentioned above.

     

    c) Fundamental
      Transaction.
      If, at
      any time while this Warrant is outstanding, (A) the Company effects any merger
      or consolidation of the Company with or into another Person, (B) the Company
      effects any sale of all or substantially all of its assets in one or a series
      of
      related transactions, (C) any tender offer or exchange offer (whether by the
      Company or another Person) is completed pursuant to which holders of Common
      Stock are permitted to tender or exchange their shares for other securities,
      cash or property, or (D) the Company effects any reclassification of the Common
      Stock or any compulsory share exchange pursuant to which the Common Stock is
      effectively converted into or exchanged for other securities, cash or property
      (in any such case, a “Fundamental
      Transaction”),
      then,
      upon any subsequent exercise of this Warrant, the Holder shall have the right
      to
      receive, for each Warrant Share that would have been issuable upon such exercise
      immediately prior to the occurrence of such Fundamental Transaction, at the
      option of the Holder, (a) 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 any additional consideration (the
“Alternate
      Consideration”)
      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 or (b) if the Company is acquired in an all cash transaction, cash equal
      to the value of this Warrant as determined in accordance with the Black-Scholes
      option pricing formula. For purposes of any such exercise, the determination
      of
      the Exercise Price shall be appropriately adjusted to apply to such Alternate
      Consideration based on the amount of Alternate Consideration issuable in respect
      of one share of Common Stock in such Fundamental Transaction, and the Company
      shall apportion the Exercise Price among the Alternate Consideration in a
      reasonable manner reflecting the relative value of any different components
      of
      the Alternate Consideration. If holders of Common Stock are given any choice
      as
      to the securities, cash or property to be received in a Fundamental Transaction,
      then the Holder shall be given the same choice as to the Alternate Consideration
      it receives upon any exercise of this Warrant following such Fundamental
      Transaction. To the extent necessary to effectuate the foregoing provisions,
      any
      successor to the Company or surviving entity in such Fundamental Transaction
      shall issue to the Holder a new warrant consistent with the foregoing provisions
      and evidencing the Holder’s right to exercise such warrant into Alternate
      Consideration. The terms of any agreement pursuant to which a Fundamental
      Transaction is effected shall include terms requiring any such successor or
      surviving entity to comply with the provisions of this Section 2(b) and insuring
      that this Warrant (or any such replacement security) will be similarly adjusted
      upon any subsequent transaction analogous to a Fundamental
      Transaction.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    d) Calculations.
      All
      calculations under this Section 2 shall be made to the nearest cent or the
      nearest 1/100th of a share, as the case may be. For purposes of this Section
      3,
      the number of shares of Common Stock deemed to be issued and outstanding as
      of a
      given date shall be the sum of the number of shares of Common Stock (excluding
      treasury shares, if any) issued and outstanding.

     

    e) Voluntary
      Adjustment By 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.

     

    f) Notice
      to Holders.
      

     

    i. Adjustment
      to Exercise Price.
      Whenever the Exercise Price is adjusted pursuant to any provision of this
      Section 2, the Company shall promptly mail to each Holder a notice setting
      forth
      the Exercise Price after such adjustment and setting forth a brief statement
      of
      the facts requiring such adjustment. [If the Company issues a variable rate
      security, despite the prohibition thereon in the Purchase Agreement, the Company
      shall be deemed to have issued Common Stock or Common Stock Equivalents at
      the
      lowest possible conversion or exercise price at which such securities may be
      converted or exercised in the case of a Variable Rate Transaction (as defined
      in
      the Purchase Agreement).

     

    ii. Notice
      to Allow Exercise by Holder.
      If (A)
      the Company shall declare a dividend (or any other distribution in whatever
      form) on the Common Stock; (B) the Company shall declare a special nonrecurring
      cash dividend on or a redemption of the Common Stock; (C) the Company shall
      authorize the granting to all holders of the Common Stock rights or warrants
      to
      subscribe for or purchase any shares of capital stock of any class or of any
      rights; (D) the approval of any stockholders of the Company shall be required
      in
      connection with any reclassification of the Common Stock, any consolidation
      or
      merger to which the Company is a party, any sale or transfer of all or
      substantially all of the assets of the Company, of any compulsory share exchange
      whereby the Common Stock is converted into other securities, cash or property;
      (E) the Company shall authorize the voluntary or involuntary dissolution,
      liquidation or winding up of the affairs of the Company; then, in each case,
      the
      Company shall cause to be mailed to the Holder at its last address as it shall
      appear upon the Warrant Register of the Company, at least 20 calendar days
      prior
      to the applicable record or effective date hereinafter specified, a notice
      stating (x) the date on which a record is to be taken for the purpose of such
      dividend, distribution, redemption, rights or warrants, or if a record is not
      to
      be taken, the date as of which the holders of the Common Stock of record to
      be
      entitled to such dividend, distributions, redemption, rights or warrants are
      to
      be determined or (y) the date on which such reclassification, consolidation,
      merger, sale, transfer or share exchange is expected to become effective or
      close, and the date as of which it is expected that holders of the Common Stock
      of record shall be entitled to exchange their shares of the Common Stock for
      securities, cash or other property deliverable upon such reclassification,
      consolidation, merger, sale, transfer or share exchange; provided that the
      failure to mail such notice or any defect therein or in the mailing thereof
      shall not affect the validity of the corporate action required to be specified
      in such notice. The Holder is entitled to exercise this Warrant during the
      20-day period commencing on the date of such notice to the effective date of
      the
      event triggering such notice.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Section
      3. Transfer
      of Warrant.

     

    a) Transferability.
      Subject
      to compliance with any applicable securities laws and the conditions set forth
      in Section 4(d) hereof, this Warrant and all rights hereunder (including,
      without limitation, any registration rights) are transferable, in whole or
      in
      part, upon surrender of this Warrant at the principal office of the Company
      or
      its designated agent, together with a written assignment of this Warrant
      substantially in the form attached hereto duly executed by the 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) New
      Warrants.
      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 3(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.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    c) Warrant
      Register.
      The
      Company shall register this Warrant, upon records to be maintained by the
      Company for that purpose (the “Warrant
      Register”),
      in
      the name of the record Holder hereof from time to time. The Company may deem
      and
      treat the registered Holder of this Warrant as the absolute owner hereof for
      the
      purpose of any exercise hereof or any distribution to the Holder, and for all
      other purposes, absent actual notice to the contrary.

     

    d) Transfer
      Restrictions.
      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)(1), (a)(2), (a)(3), (a)(7), or (a)(8)
      promulgated under the Securities Act or a “qualified institutional buyer” as
      defined in Rule 144A(a) under the Securities Act.

     

    Section
      4. Miscellaneous.

     

    a) 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 as set forth in Section
      1(e)(ii). 

     

    b) 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.

     

    c) 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 not be a Business Day, then such action
      may be taken or such right may be exercised on the next succeeding Business
      Day.

     

    d) 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. This
      Warrant constitutes a valid and binding obligation of the Company enforceable
      in
      accordance with its terms, subject, as to enforcement of remedies, to applicable
      bankruptcy, insolvency, moratorium, reorganization and similar laws affecting
      creditors’ rights generally and to general equitable principles.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    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.

     

    e) Governing
      Law. This Warrant will be governed by and construed in accordance with and
      governed by the laws of the State of New York, without giving effect to the
      conflict of law principles thereof.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    f) Consent
      to Jurisdiction. Each party hereto hereby irrevocably and unconditionally
      submits to the jurisdiction of any federal or state court sitting in the County
      of New York in the State of New York and irrevocably agrees that all actions
      or
      proceedings arising out of or relating to this Note shall be litigated
      exclusively in such court. Each party hereto agrees not to commence any legal
      proceeding related hereto or thereto except in such courts. Each party hereto
      irrevocably waives any objection which it may now or hereafter have to the
      laying of the venue of any such proceeding in any such court and hereby further
      irrevocably and unconditionally waives and agrees not to plead or claim in
      any
      such court that any such action, suit or proceeding brought in any such court
      has been brought in an inconvenient forum. Each party hereto consents to process
      being served in any such action or proceeding by mailing a copy thereof by
      registered or certified mail.

     

    g) Waiver
      of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
      PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
      OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION
      WITH THIS WARRANT. EACH PARTY HERETO (1) CERTIFIES THAT NO REPRESENTATIVE,
      AGENT
      OR ATTORNEY OF ANY OF THE OTHER PARTIES HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
      THAT ANY OF THE OTHER PARTIES WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
      ENFORCE THE FOREGOING WAIVER AND (2) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
      HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER THINGS,
      THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 17..

     

    h) 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.

     

    i) 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 the fact that 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.

     

    j) 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 Purchase Agreement.

     

    k) Limitation
      of Liability.
      No
      provision hereof, in the absence of any affirmative action by Holder to exercise
      this Warrant to 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.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    l) 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 and not to assert the
      defense in any action for specific performance that a remedy at law would be
      adequate.

     

    m) 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.

     

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

     

    o) 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.

     

    p) 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.

    

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

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

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

    
      	 	 	 
	
              Dated:
                August __, 2007

            	 	 
	 	 	 
	 	
              BIOMETRX,
                INC.

            
	 
 	 
 	 
 
	 	By:  	
            
	 	
              

              Name:

              Title:

            

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    NOTICE
      OF EXERCISE

    

    TO: BIOMETRX,
      INC.

    

    (1) The
      undersigned hereby elects to purchase ________ Warrant Shares of the Company
      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.

     

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

     

    o
      in lawful money of the
      United States; or

     

    o
      if permitted] the
      cancellation of such number of Warrant Shares as is necessary, in accordance
      with the formula set forth in subsection 1(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 1(c).

     

    (3) 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:

    _______________________________

    

    The
      Warrant Shares shall be delivered to the following DWAC Account Number or by
      physical delivery of a certificate to:

    _______________________________

     

    _______________________________

     

    _______________________________

    

    (4)
      Accredited
      Investor.
      The
      undersigned is an “accredited investor” as defined in Regulation D promulgated
      under the Securities Act of 1933, as amended.

    

    [SIGNATURE
      OF HOLDER]

     

    Name
      of
      Investing Entity:
      ________________________________________________________________________

    Signature
      of Authorized Signatory of Investing Entity:
      _________________________________________________

    Name
      of
      Authorized Signatory:
      ___________________________________________________________________

    Title
      of
      Authorized Signatory:
      ____________________________________________________________________

    Date:
      ________________________________________________________________________________________

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    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,  [____] all of or [_______] shares of 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.

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