Document:

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                                  EXHIBIT 10.58

THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, NOR QUALIFIED UNDER ANY STATE SECURITIES LAW IN
RELIANCE UPON EXEMPTIONS THEREFROM. THE SECURITIES MAY BE ACQUIRED FOR
INVESTMENT PURPOSES ONLY AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY
NOT BE SOLD, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR
OFFERED TO BE SO TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR
SUCH SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND QUALIFICATION
UNDER APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO
THE COMPANY THAT SUCH TRANSACTION SHALL NOT VIOLATE ANY FEDERAL OR STATE
SECURITIES LAWS.

                            STOCK PURCHASE AGREEMENT

         This STOCK PURCHASE AGREEMENT ("Agreement") is dated _____, 2003
between the purchaser identified on the signature page hereto or any assignee of
such person that is a partner or affiliate of such person ("Purchaser"), and
HiEnergy Technologies, Inc., a Delaware corporation ("Company").

1. PURCHASE AND SALE. Purchaser agrees to buy and the Company agrees to sell and
issue to Purchaser for an aggregate purchase price of $___ (the "Purchase
Price") (a) ___ shares of the Company's authorized and previously unissued
common stock, par value $0.001 per share (the "Shares") and (b) a warrant to
purchase ___ shares of the Company's authorized and previously unissued common
stock, par value $0.001 per share, at a purchase price of $___ per share (the
"Warrant") for a term ending three and one-half years after effectiveness of the
registration statement described in Section 5. The Shares, Warrant, and any
shares of common stock issuable upon exercise of the Warrant, are herein
collectively called the "Securities."

2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company hereby makes the
following representations and warranties to the Purchaser:

         (A) ORGANIZATION AND QUALIFICATION. The Company is a corporation duly
         incorporated, validly existing and in good standing under the laws of
         the State of Delaware with the requisite corporate power and authority
         to own and use its properties and assets and to carry on its business
         as currently conducted. The Company is duly qualified to conduct
         business and is in good standing as a foreign corporation or other
         entity in each jurisdiction in which the nature of the business
         conducted or property owned by it makes such qualification necessary.

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         (B) AUTHORIZATION. The Company has the requisite corporate power and
         authority to enter into and to consummate the transactions contemplated
         by this Agreement and otherwise to carry out its obligations hereunder.
         The execution and delivery of this Agreement by the Company and the
         consummation of the transaction contemplated hereby have been duly
         authorized by all necessary action on the part of the Company, the
         undersigned is duly authorized to execute this Agreement on behalf of
         the Company, and no further action is required by the Company or its
         shareholders for the Company to execute and consummate this Agreement
         and the transactions contemplated hereby. This Agreement has been duly
         executed by the Company and, when delivered in accordance with the
         terms hereof, and assuming the valid execution hereof by the Purchaser,
         will constitute the valid and binding obligation of the Company
         enforceable against the Company in accordance with its terms, except
         (a) as such enforceability may be limited by bankruptcy, insolvency,
         reorganization or similar laws affecting creditors' rights generally,
         (b) as enforceability of any indemnification and contribution
         provisions may be limited under the federal and state securities laws
         and public policy, and (c) that the remedy of specific performance and
         injunctive and other forms of equitable relief may be subject to
         equitable defenses and to the discretion of the court before which any
         proceeding therefor may be brought.

         (C) NO CONFLICTS. The execution, delivery and performance of this
         Agreement by the Company and the consummation by the Company of the
         transactions contemplated hereby does not and will not: (i) conflict
         with or violate any provision of the Company's certificate of
         incorporation or bylaws (each as amended through the date hereof), or
         (ii) conflict with, or constitute a default (or an event which with
         notice or lapse of time or both would become a default) under, or give
         to others any rights of termination, amendment or acceleration (with or
         without notice, lapse of time or both) of, any material agreement or
         indebtedness to which the Company is a party or by which any material
         property or asset of the Company is bound or affected, or (iii) result
         in a violation of any law, rule, regulation, order, judgment, decree or
         other restriction of any court, governmental authority or stock market
         to which the Company or the Common Stock is subject.

         (D) ISSUANCE OF THE SECURITIES. The Shares and the Warrant are duly
         authorized and, when issued and paid for in accordance with the terms
         hereof, will be legally issued, fully paid and nonassessable, free and
         clear of all liens and encumbrances (other than any that are the result
         of any action or inaction of the Purchaser). The shares issuable upon
         exercise of the Warrant, when paid for in accordance with the terms of
         the Warrant, will be legally issued, fully paid and nonassessable, free
         and clear of all liens and encumbrances (other than any that are the
         result of any action or inaction of the Purchaser).

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3. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser hereby
represents and warrants to the Company as follows:

         (A) VALIDITY. Upon the execution and delivery of this Agreement, and
         assuming the valid execution thereof by the Company, this Agreement
         shall constitute the valid and binding obligation of the Purchaser,
         enforceable against the Purchaser in accordance with its terms, except
         (a) as such enforceability may be limited by bankruptcy, insolvency,
         reorganization or similar laws affecting creditors' rights generally,
         (b) as enforceability of any indemnification and contribution
         provisions may be limited under the federal and state securities laws
         and public policy, and (c) that the remedy of specific performance and
         injunctive and other forms of equitable relief may be subject to
         equitable defenses and to the discretion of the court before which any
         proceeding therefor may be brought.

         (B) NO CONFLICTS. The execution, delivery and performance of this
         Agreement by the Purchaser and the consummation by the Purchaser of the
         transactions contemplated hereby does not and will not (i) conflict
         with or violate any provision of the Purchaser's or Company's
         certificate of incorporation or bylaws (each as amended through the
         date hereof), or (ii) conflict with, or constitute a default (or an
         event which with notice or lapse of time or both would become a
         default) under, or give to others any rights of termination, amendment
         or acceleration (with or without notice, lapse of time or both) of, any
         material agreement or indebtedness to which the Purchaser is a party or
         by which any material property or asset of the Purchaser is bound or
         affected, or (iii) result in a violation of any order, judgment or
         decree of any court to which the Purchaser is subject.

         (C) INVESTMENT REPRESENTATIONS.

                  (i) The Purchaser is capable of bearing the economic risks of
                  this investment, including the possible loss of the entire
                  investment;

                  (ii) The Securities are being acquired for investment only and
                  for the Purchaser's own account and not with a view to, or for
                  sale in connection with, the distribution thereof, nor with
                  any present intention of distributing or selling any of the
                  Securities;

                  (iii) The Purchaser understands that the Securities have not
                  been qualified under the Delaware Securities Act, as amended,
                  (the "Law") or any other applicable state securities laws and
                  that the Securities have not been registered under the
                  Securities Act of 1933, as amended, (the "Act"), and are being
                  offered and sold pursuant to exemptions thereunder, and that
                  in this connection the Company is relying on the Purchaser's
                  representations set forth in this Stock Purchase Agreement;

                  (iv) The Purchaser understands and agrees that the Securities
                  may not be offered or transferred in any manner unless (i) the
                  Securities are subsequently registered under the Act and any
                  applicable state securities laws, or (ii) an opinion of
                  counsel satisfactory to the Company has been rendered stating
                  that such offer or transfer will not violate any applicable
                  federal or state securities laws;

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                  (v) The Purchaser understands and agrees that in addition to
                  any other restrictive legend which may be imposed on the
                  certificates, the certificates evidencing said Securities will
                  bear substantially the following legend or a similar legend:

                  THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER
                  THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD,
                  TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS PURSUANT TO SEC
                  RULE 144 (IF AVAILABLE) OR THERE IS AN EFFECTIVE REGISTRATION
                  STATEMENT UNDER THE 1933 ACT COVERING SUCH SECURITIES OR THE
                  COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE
                  SECURITIES REASONABLY SATISFACTORY TO THE COMPANY, STATING
                  THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS
                  EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
                  REQUIREMENTS OF THE 1933 ACT.

                  (vi) The Purchaser is an Accredited Investor as defined in
                  Regulation D under the Act;

                  (vii) By executing this Stock Purchase Agreement, the
                  Purchaser hereby acknowledges receipt of all such information
                  as the Purchaser deems necessary and appropriate to enable the
                  Purchaser to evaluate the merits and risks in acquiring the
                  Securities. The Purchaser acknowledges receipt of satisfactory
                  and complete information covering the business and financial
                  condition of the Company, including the opportunity to obtain
                  information regarding the Company's financial status, in
                  response to all inquiries in respect thereof. The Purchaser
                  has such knowledge and experience in financial and business
                  matters that he is capable of evaluating the merits and risks
                  of acquiring the Securities and the capacity of protecting its
                  own interests in the transaction;

                  (viii) The Purchaser has been furnished with the materials
                  relating to the Company and the offering of the Securities
                  which he has requested, and has been afforded the opportunity
                  to make inquiries concerning the Company and such matters as
                  the Purchaser has deemed necessary, and has further been
                  afforded the opportunity to obtain any additional information
                  required by the Purchaser to the extent the Company possesses
                  such information or could acquire it without unreasonable
                  effort or expense;

                  (ix) The Purchaser has substantial means of providing for its
                  current needs and contingencies and has no need for liquidity
                  in this investment;

                  (x) The Purchaser has determined that the Securities are a
                  suitable investment for it and that it could bear a complete
                  loss of its entire investment;

                  (xi) The Purchaser has relied on its own tax and legal advisor
                  and its own investment counselor with respect to the income
                  tax and investment considerations of a purchase of the
                  Securities;

                  (xii) The Purchaser did not learn of the offering described
                  herein through any general advertising or other literature,
                  and it has relied only on the information furnished or made
                  available to them by the Company described above;

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                  (xiii) No representations or warranties have been made to the
                  Purchaser by the Company, its officers, directors or
                  shareholders or any persons acting on behalf of the Company,
                  or any affiliates of any of them, other than the
                  representations set forth herein; and

                  (xiv) The foregoing representations, warranties and agreements
                  of the Purchaser shall survive the sale and issuance of the
                  Securities to the Purchaser.

4. PAYMENT. The parties are entering into the Escrow Agreement attached as
Exhibit A (the "Escrow Agreement"), and the Purchaser will wire funds prior to
the Closing Day to the Escrow Agent, as defined in the Escrow Agreement. The
Seller shall notify its transfer agent within one (1) Trading Day thereafter to
deliver the Shares to the Purchaser. On the Closing Day: (x) the Company will
deliver or cause to be delivered to the Purchaser a Warrant and a duly executed
stock certificate representing the number of Shares set forth herein; and (y)
the Escrow Agent will deliver to the Company an amount in United States dollars
equal to the full Purchase Price, via check or wire transfer of immediately
available funds to an account designated in writing by the Company for such
purpose less any out-of-pocket costs.

5. REGISTRATION RIGHTS. The Company shall cause within a reasonable time, in any
case not later than January 15, 2004, the preparation and filing of a
Registration Statement on Form SB-2 that includes the Shares and the shares of
Common Stock issuable upon exercise of the Warrant. If the Holder continues to
hold the Shares, the Company will pay Holder in arrears in like kind a number of
Shares equal to one and one half percent of the Shares continued to be held by
Holder on the 15th day of the first full calendar month occurring after January
15, 2004 if the Company has not caused the shares to become registered by that
day. Thereafter the percentage shall increase by an additional one percent each
month, eg., the second month's percentage shall be 2.5%, so that on the 15th day
the Company will pay Holder in arrears in like kind a number of Shares equal to
two and one half percent of the Shares continued to be held by Holder on the
15th day of the second full calendar month. There shall be no increase if the
increase is exceeds the amount permitted by law. In addition, no such payment is
due to the extent such payment causes the total amount payable for failure to
obtain an effective registration statement to exceed the amount permitted by
law. The Issuer shall use best efforts to cause a Registration Statement on Form
SB-2 that includes the Shares to remain effective to the date all the Shares are
or may be sold at one time under Rule 144. It is the express intention of the
parties that at all times they shall comply with all applicable laws, including
usury laws. This Agreement shall automatically be modified to the extent
necessary to achieve that purpose.

6. COUNTERPARTS. This Agreement may be executed in two or more counterparts, all
of which shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the
other party. This Agreement, once executed by a party, may be delivered to the
other party hereto by facsimile transmission of a copy of this Agreement bearing
the signature of the party so delivering this Agreement, which shall be deemed
fully valid and binding. The parties also agree to forward promptly their
original signature on a copy of this Agreement to the other party.

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7. ENTIRE AGREEMENT. This Agreement contains the entire understanding of the
parties with respect to the matters covered herein and, except as specifically
set forth herein, neither the Company nor the Purchaser make any representation,
warranty, covenant or undertaking with respect to such matters. No provision of
this Agreement may be amended other than by an instrument in writing signed by
the Company and Purchaser.

8. SEVERABILITY. In the event that any provision of this Agreement shall be
determined to be invalid or unenforceable by any court of competent
jurisdiction, the remainder of this agreement shall not be affected thereby, and
any invalid or unenforceable provision shall be reformed so as to be valid and
enforceable to the full extent permitted by law.

9. NOTICES. Any and all notices or other communications or deliveries required
or permitted to be provided hereunder shall be in writing and shall be deemed
given and effective on the earlier of (i) the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile telephone
number specified for notice prior to 5:00 p.m., eastern time, on a Trading Day,
(ii) the Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile telephone number
specified for notice later than 5:00 p.m., eastern time, on any date and earlier
than 11:59 p.m., eastern time, on such date, (iii) the Trading Day following the
date of mailing, if sent by nationally recognized overnight courier service or
(iv) actual receipt by the party to whom such notice is required to be given.
The addresses for such communications shall be with respect to the Purchaser,
addressed to such Purchaser at his last known address or facsimile number
appearing on the books of the Issuer maintained for such purposes, with a copy
to the Purchaser's legal counsel, if designated by Purchaser, or with respect to
the Issuer, addressed to:

                           HiEnergy Technologies, Inc.
                           1601 Alton Parkway, Unit B
                           Irvine, California 92606
                           Attention: President
                           Tel. No.: (949) 757-0855
                           Fax No.: (949) 757-1477
with a copy to:
                           Yocca Patch & Yocca, LLP
                           19900 MacArthur Blvd, Suite 650
                           Irvine, CA 92612
                           Attention: Nicholas J. Yocca, Esq.
                           Tel No.: (949) 253-0800
                           Fax No.: (949) 203-8627

Any party hereto may from time to time change its and its counsel's address for
notices by giving at least ten (10) days written notice of such changed address
to the other party hereto.

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         IN WITNESS WHEREOF, the parties hereto have caused this Stock Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

                              COMPANY:

                              HIENERGY TECHNOLOGIES, INC.

                              By:
                                 -----------------------------------------
                              Name:  Bogdan C. Maglich
                              Title: Chairman, Chief Executive Officer and
                                     Treasurer

                              PURCHASER:

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

                                       7<PAGE>

                                  EXHIBIT 10.59

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER
APPLICABLE STATE SECURITIES LAWS OR HIENERGY TECHNOLOGIES, INC. SHALL HAVE
RECEIVED AN OPINION OF ITS COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER
THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS
IS NOT REQUIRED.

                               WARRANT TO PURCHASE
                             SHARES OF COMMON STOCK
                                       OF
                           HIENERGY TECHNOLOGIES, INC.

       Expires: 3 1/2 years after effectiveness of registration statemeNT

No.: W-___

         FOR VALUE RECEIVED, subject to the provisions hereinafter set forth,
the undersigned, HiEnergy Technologies, Inc., a Delaware corporation (together
with its successors and assigns, the "Issuer"), hereby certifies that _____, or
their registered assigns ("Holder") is entitled to subscribe for and purchase,
during the period specified in this Warrant, up to ______ (_____) shares
(subject to adjustment as hereinafter provided) of the duly authorized, validly
issued, fully paid and non-assessable Common Stock of the Issuer, at an exercise
price per share equal to the Warrant Price then in effect, subject, however, to
the provisions and upon the terms and conditions hereinafter set forth.
Capitalized terms used in this Warrant and not otherwise defined herein shall
have the respective meanings specified in Section 9 hereof. The original
execution of this Warrant along with delivery of a photocopy, telecopy or
facsimile copy thereof shall be binding and fully enforceable to the same extent
as an originally executed document.

         1. Term. The right to subscribe for and purchase shares of Warrant
Stock represented hereby shall commence on _____, 2003 and shall expire at 5:00
p.m., eastern time, on the date that is three and one-half years after the date
the registration statement described in paragraph 7 below becomes effective
(such period being the "Term").

         2. Method of Exercise Payment; Issuance of New Warrant; Transfer and
Exchange.

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         (a) Time of Exercise. The purchase rights represented by this Warrant
may be exercised in whole or in part at any time and from time to time during
the Term commencing on ______, 2003.

         (b) Method of Exercise. The Holder hereof may exercise this Warrant, in
whole or in part, by the surrender of this Warrant (with the exercise form
attached hereto duly executed) at the principal office of the Issuer, and by the
payment to the Issuer of an amount of consideration therefor equal to the
Warrant Price in effect on the date of such exercise multiplied by the number of
shares of Warrant Stock with respect to which this Warrant is then being
exercised, payable at such Holder's election by certified or official bank check
or by wire transfer to an account designated by the Issuer.

         (c) Issuance of Stock Certificates. In the event of any exercise of the
rights represented by this Warrant in accordance with and subject to the terms
and conditions hereof, (i) certificates for the shares of Warrant Stock so
purchased shall be dated the date of such exercise and delivered within a
reasonable time, not exceeding three (3) Trading Days after such exercise or, to
the Holder hereof at the request of the Holder and the Holder hereof shall be
deemed for all purposes to be the Holder of the shares of Warrant Stock so
purchased as of the date of such exercise and (ii) unless this Warrant has
expired, a new Warrant representing the number of shares of Warrant Stock, if
any, with respect to which this Warrant shall not then have been exercised (less
any amount thereof which shall have been canceled in payment or partial payment
of the Warrant Price as hereinabove provided) shall also be issued to the Holder
hereof at the Issuer's expense within such time.

         (d) Transferability of Warrant. Subject to Section 2(f), this Warrant
may be transferred by a Holder with the consent of the Issuer or within the
Holder's affiliated group of partners or shareholders without the consent of the
Issuer. If transferred pursuant to this paragraph and according to the
provisions of subsection (f) of this Section 2, this Warrant may be transferred
on the books of the Issuer by the Holder hereof in person or by duly authorized
attorney, upon surrender of this Warrant at the principal office of the Issuer,
properly endorsed (by the Holder executing an assignment in the form attached
hereto) and upon payment of any necessary transfer tax or other governmental
charge imposed upon such transfer. This Warrant is exchangeable at the principal
office of the Issuer for new replacement Warrants for the purchase of the same
aggregate number of shares of Warrant Stock, in all denominations of shares of
Warrant Stock as the Holder hereof shall reasonably designate at the time of
such exchange. All Warrants issued on transfers or exchanges shall be dated the
Original Issue Date and shall be identical with this Warrant except as to the
number of shares of Warrant Stock issuable pursuant hereto.

         (e) Continuing Rights of Holder. The Issuer will, at the time of or at
any time after each exercise of this Warrant, upon the request of the Holder
hereof, acknowledge in writing the extent, if any, of its continuing obligation
to afford to such Holder all rights to which such Holder shall continue to be
entitled after such exercise in accordance with the terms of this Warrant,
provided that if any such Holder shall fail to make any such request, the
failure shall not affect the continuing obligation, if any, of the Issuer to
afford such rights to such Holder.

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         (f) Compliance with Securities Laws.

                  (i) The Holder of this Warrant, by acceptance hereof,
acknowledges that this Warrant or the shares of Warrant Stock to be issued upon
exercise hereof are being acquired solely for the Holder's own account and not
as a nominee for any other party, and for investment, and that the Holder will
not offer, sell or otherwise dispose of this Warrant or any shares of Warrant
Stock to be issued upon exercise hereof except pursuant to an effective
registration statement, or an exemption from registration, under the Securities
Act and any applicable state securities laws.

                  (ii) Except as provided in paragraph (iii) below, this Warrant
and all certificates representing shares of Warrant Stock issued upon exercise
hereof shall be stamped or imprinted with a legend in the following form:

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND ANY CERTIFICATES
         RECEIVED IN EXCHANGE FOR THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR
         ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED,
         HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
         SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE ISSUER
         OF THIS CERTIFICATE SHALL HAVE RECEIVED AN OPINION OF ITS COUNSEL THAT
         REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE
         PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

                  (iii) The restrictions imposed by this subsection (f) upon the
transfer of this Warrant or the shares of Warrant Stock to be purchased upon
exercise hereof shall terminate (A) when such securities shall have been resold
pursuant to an effective registration statement under the Securities Act, (B)
upon the Issuer's receipt of an opinion of counsel, in form and substance
reasonably satisfactory to the Issuer, addressed to the Issuer to the effect
that such restrictions are no longer required to ensure compliance with the
Securities Act and state securities laws or (C) upon the Issuer's receipt of
other evidence reasonably satisfactory to the Issuer that such registration and
qualification under the Securities Act and state securities laws are not
required. Whenever such restrictions shall cease and terminate as to any such
securities, the Holder thereof shall be entitled to receive from the Issuer (or
its transfer agent and registrar), without expense (other than applicable
transfer taxes, if any), new Warrants (or, in the case of shares of Warrant
Stock, new stock certificates) of like tenor not bearing the applicable legend
required by paragraph (ii) above relating to the Securities Act and state
securities laws.

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         3. Stock Fully Paid; Reservation and Listing of Shares; Covenants.

         (a) Stock Fully Paid. The Issuer represents, warrants, covenants and
agrees that all shares of Warrant Stock which may be issued upon the exercise of
this Warrant or otherwise hereunder will, upon issuance, be duly authorized,
validly issued, fully paid and non-assessable and free from all taxes, liens and
charges created by or through Issuer. The Issuer further covenants and agrees
that during the period within which this Warrant may be exercised, the Issuer
will at all times have authorized and reserved for the purpose of the issue upon
exercise of this Warrant a sufficient number of shares of Common Stock to
provide for the exercise of this Warrant.

         (b) Reservation. If any shares of Common Stock required to be reserved
for issuance upon exercise of this Warrant or as otherwise provided hereunder
require registration or qualification with any governmental authority under any
federal or state law before such shares may be so issued, the Issuer will, upon
notice from the Holder of such requirement, in good faith use its best efforts
as expeditiously as possible at its expense to cause such shares to be duly
registered or qualified. If the Issuer shall list any shares of Common Stock on
any securities exchange or market it will, at its expense, list thereon,
maintain and increase when necessary such listing, of, all shares of Warrant
Stock from time to time issued upon exercise of this Warrant or as otherwise
provided hereunder, and, to the extent permissible under the applicable
securities exchange rules, all unissued shares of Warrant Stock which are at any
time issuable hereunder, so long as any shares of Common Stock shall be so
listed. The Issuer will also so list on each securities exchange or market, and
will maintain such listing of, any other securities which the Holder of this
Warrant shall be entitled to receive upon the exercise of this Warrant if at the
time any securities of the same class shall be listed on such securities
exchange or market by the Issuer.

         (c) Covenants. The Issuer shall not by any action including, without
limitation, amending the Certificate of Incorporation or the bylaws of the
Issuer, or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other 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 the Holder hereof against dilution (to the extent
specifically provided herein) or impairment. Without limiting the generality of
the foregoing, the Issuer will (i) not permit the par value, if any, of its
Common Stock to exceed the then effective Warrant Price, (ii) not amend or
modify any provision of the Certificate of Incorporation or by-laws of the
Issuer in any manner that would adversely affect the rights of the Holders of
the Warrants, (iii) take all such action as may be reasonably necessary in order
that the Issuer may validly and legally issue fully paid and nonassessable
shares of Common Stock, free and clear of any liens, claims, encumbrances and
restrictions (other than as provided herein) upon the exercise of this Warrant,
and (iv) use its best efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof as may be
reasonably necessary to enable the Issuer to perform its obligations under this
Warrant.

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<PAGE>

         (d) Loss, Theft, Destruction of Warrants. Upon receipt of evidence
satisfactory to the Issuer of the ownership of and the loss, theft, destruction
or mutilation of any Warrant and, in the case of any such loss, theft or
destruction, upon receipt of indemnity or security satisfactory to the Issuer
or, in the case of any such mutilation, upon surrender and cancellation of such
Warrant, the Issuer will make and deliver, in lieu of such lost, stolen,
destroyed or mutilated Warrant, a new Warrant of like tenor and representing the
right to purchase the same number of shares of Common Stock.

         4. Adjustment of Warrant Price and Warrant Share Number. The number of
shares of Common Stock for which this Warrant is exercisable, and the price at
which such shares may be purchased upon exercise of this Warrant, shall be
subject to adjustment from time to time as set forth in this Section 4. The
Issuer shall give the Holder notice of any event described below which requires
an adjustment pursuant to this Section 4 in accordance with Section 5.

         (a) Recapitalization, Reorganization, Reclassification, Consolidation,
Merger or Sale.

                  (i) In case the Issuer after the Original Issue Date shall do
any of the following (each, a "Triggering Event"): (a) consolidate with or merge
into any other Person and the Issuer shall not be the continuing or surviving
corporation of such consolidation or merger, or (b) permit any other Person to
consolidate with or merge into the Issuer and the Issuer shall be the continuing
or surviving Person but, in connection with such consolidation or merger, any
Capital Stock of the Issuer shall be changed into or exchanged for Securities of
any other Person or cash or any other property, or (c) transfer all or
substantially all of its properties or assets to any other Person, or (d) effect
a capital reorganization or reclassification of its Capital Stock, then, and in
the case of each such Triggering Event, proper provision shall be made so that,
upon the basis and the terms and in the manner provided in this Warrant, the
Holder of this Warrant shall be entitled upon the exercise hereof at any time
after the consummation of such Triggering Event, to the extent this Warrant is
not exercised prior to such Triggering Event, to receive at the Warrant Price in
effect at the time immediately prior to the consummation of such Triggering
Event in lieu of the Common Stock issuable upon such exercise of this Warrant
prior to such Triggering Event, the Securities, cash and property to which such
Holder would have been entitled upon the consummation of such Triggering Event
if such Holder had exercised the rights represented by this Warrant immediately
prior thereto, subject to adjustments (subsequent to such corporate action) as
nearly equivalent as possible to the adjustments provided for elsewhere in this
Section 4.

                  (ii) Notwithstanding anything contained in this Warrant to the
contrary, the Issuer will not effect any Triggering Event unless, prior to the
consummation thereof, each Person (other than the Issuer) which may be required
to deliver any Securities, cash or property upon the exercise of this Warrant as
provided herein shall assume, by written instrument delivered to, and reasonably
satisfactory to, the Holder of this Warrant, (A) the obligations of the Issuer
under this Warrant (and if the Issuer shall survive the consummation of such
Triggering Event, such assumption shall be in addition to, and shall not release
the Issuer from, any continuing obligations of the Issuer under this Warrant)
and (B) the obligation to deliver to such Holder such shares of Securities, cash
or property as, in accordance with the foregoing provisions of this subsection
(a), such Holder shall be entitled to receive, and such Person shall have
similarly delivered to such Holder an opinion of counsel for such Person, which
counsel shall be reasonably satisfactory to such Holder, stating that this
Warrant shall thereafter continue in full force and effect and the terms hereof
(including, without limitation, all of the provisions of this subsection (a))
shall be applicable to the Securities, cash or property which such Person may be
required to deliver upon any exercise of this Warrant or the exercise of any
rights pursuant hereto.

                                       5
<PAGE>

         (b) Stock Dividends, Subdivisions and Combinations. If at any time the
Issuer shall:

                  (i) take a record of the holders of its Common Stock for the
purpose of entitling them to receive a dividend payable in, or other
distribution of, shares of Common Stock,

                  (ii) subdivide its outstanding shares of Common Stock into a
larger number of shares of Common Stock, or

                  (iii) combine its outstanding shares of Common Stock into a
smaller number of shares of Common Stock,

then (1) the number of shares of Common Stock for which this Warrant is
exercisable immediately after the occurrence of any such event shall be adjusted
to equal the number of shares of Common Stock which a record holder of the same
number of shares of Common Stock for which this Warrant is exercisable
immediately prior to the occurrence of such event would own or be entitled to
receive after the happening of such event, and (2) the Warrant Price then in
effect shall be adjusted to equal (A) the Warrant Price then in effect
multiplied by the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to the adjustment divided by (B) the number of
shares of Common Stock for which this Warrant is exercisable immediately after
such adjustment.

         (c) Form of Warrant after Adjustments. The form of this Warrant need
not be changed because of any adjustments in the Warrant Price or the number and
kind of Securities purchasable upon the exercise of this Warrant.

         (d) Escrow of Warrant Stock. If after any property becomes
distributable pursuant to this Section 4 by reason of the taking of any record
of the holders of Common Stock, but prior to the occurrence of the event for
which such record is taken, and the Holder exercises this Warrant, any shares of
Common Stock issuable upon exercise by reason of such adjustment shall be deemed
the last shares of Common Stock for which this Warrant is exercised
(notwithstanding any other provision to the contrary herein) and such shares or
other property shall be held in escrow for the Holder by the Issuer to be issued
to the Holder upon and to the extent that the event actually takes place, upon
payment of the current Warrant Price. Notwithstanding any other provision to the
contrary herein, if the event for which such record was taken fails to occur or
is rescinded, then such escrowed shares shall be cancelled by the Issuer and
escrowed property returned.

                                       6
<PAGE>

         5. Notice of Adjustments. Whenever the Warrant Price or Warrant Share
Number shall be adjusted pursuant to Section 4 hereof (for purposes of this
Section 5, each an "adjustment"), the Issuer shall cause its Chief Financial
Officer to prepare and execute a certificate setting forth, in reasonable
detail, the event requiring the adjustment, the amount of the adjustment, the
method by which such adjustment was calculated (including a description of the
basis on which the Board made any determination hereunder), and the Warrant
Price and Warrant Share Number after giving effect to such adjustment, and shall
cause copies of such certificate to be delivered to the Holder of this Warrant
promptly after each adjustment. Any dispute between the Issuer and the Holder of
this Warrant with respect to the matters set forth in such certificate may at
the option of the Holder of this Warrant be submitted to one of the national
accounting firms currently known as the "final four" selected by the Holder,
provided that the Issuer shall have ten (10) days after receipt of notice from
such Holder of his selection of such firm to object thereto, in which case such
Holder shall select another such firm and the Issuer shall have no right of
objection. The firm selected by the Holder of this Warrant as provided in the
preceding sentence shall be instructed to deliver a written opinion as to such
matters to the Issuer and such Holder within thirty (30) days after submission
to it of such dispute. Such opinion shall be final and binding on the parties
hereto.

         6. Fractional Shares. No fractional shares of Warrant Stock will be
issued in connection with and exercise hereof, but in lieu of such fractional
shares, the Issuer shall make a cash payment therefor equal in amount to the
product of the applicable fraction multiplied by the Per Share Market Value then
in effect.

         7. Registration of Warrant Stock. The Issuer shall cause a Registration
Statement on Form SB-2 that includes the Warrant Stock to be filed with the
Securities and Exchange Commission. If the Holder continues to hold the Shares,
the Company will pay Holder in arrears in like kind a number of Warrants equal
to one and one half percent of the Warrants continued to be held by Holder on
the 15th day of the first full calendar month occurring after January 15, 2004
if the Company has not caused the shares to become registered by that day.
Thereafter the percentage shall increase by an additional one percent each
month, eg., the second month's percentage shall be 2.5%, so that on the 15th day
the Company will pay Holder in arrears in like kind a number of Shares equal to
two and one half percent of the Warrants continued to be held by Holder on the
15th day of the second full calendar month. There shall be no increase if the
increase is exceeds the amount permitted by law. In addition, no such payment is
due to the extent such payment causes the total amount payable for failure to
obtain an effective registration statement to exceed the amount permitted by
law. The Issuer shall use its reasonable best efforts to cause a Registration
Statement on Form SB-2 that includes the Warrant Shares to remain effective to
the date all the Warrant Shares may be sold at one time under Rule 144. It is
the express intention of the parties that at all times they shall comply with
all applicable laws, including usury laws. This Agreement shall automatically be
modified to the extent necessary to achieve that purpose.

                                       7
<PAGE>

         8. Ownership Cap and Certain Exercise Restrictions. (a) Notwithstanding
anything to the contrary set forth in this Warrant, at no time may a Holder of
this Warrant exercise this Warrant if the number of shares of Common Stock to be
issued pursuant to such exercise would exceed, when aggregated with all other
shares of Common Stock owned by such Holder at such time, the number of shares
of Common Stock which would result in such Holder owning more than 4.999% of all
of the Common Stock outstanding at such time; provided, however, that upon a
Holder of this Warrant providing the Issuer with sixty-one (61) days notice
(pursuant to Section 13 hereof) (the "Waiver Notice") that such Holder would
like to waive this Section 8(a) with regard to any or all shares of Common Stock
issuable upon exercise of this Warrant, this Section 8(a) will be of no force or
effect with regard to all or a portion of the Warrant referenced in the Waiver
Notice; provided, further, that this provision shall be of no further force or
effect during the sixty-one (61) days immediately preceding the expiration of
the term of this Warrant; provided, further, that the Holder shall be entitled
to waive this provision immediately in connection with the exercise of this
Warrant with respect to Called Warrant Stock.

         (b) The Holder may not exercise the Warrant hereunder to the extent
such exercise would result in the Holder beneficially owning (as determined in
accordance with Section 13(d) of the Exchange Act and the rules thereunder) in
excess of 9.999% of the then issued and outstanding shares of Common Stock,
including shares issuable upon exercise of the Warrant held by the Holder after
application of this Section; provided, however, that upon a Holder of this
Warrant providing the Company with a Waiver Notice that such Holder would like
to waive this Section 8(b) with regard to any or all shares of Common Stock
issuable upon exercise of this Warrant, this Section 8(b) shall be of no force
or effect with regard to those shares of Warrant Stock referenced in the Waiver
Notice; provided, further, that this provision shall be of no further force or
effect during the sixty-one (61) days immediately preceding the expiration of
the term of this Warrant; provided, further, that the Holder shall be entitled
to waive this provision immediately in connection with the exercise of this
Warrant with respect to Called Warrant Stock.

         9. Definitions. For the purposes of this Warrant, the following terms
have the following meanings:

         "Board" shall mean the Board of Directors of the Issuer.

         "Capital Stock" means and includes (i) any and all shares, interests,
participations or other equivalents of or interests in (however designated)
corporate stock, including, without limitation, shares of preferred or
preference stock, (ii) all partnership interests (whether general or limited) in
any Person which is a partnership, (iii) all membership interests or limited
liability company interests in any limited liability company, and (iv) all
equity or ownership interests in any Person of any other type.

                                       8
<PAGE>

         "Certificate of Incorporation" means the Certificate of Incorporation
of the Issuer as in effect on the Original Issue Date, and as hereafter from
time to time amended, modified, supplemented or restated pursuant to applicable
law.

         "Common Stock" means the Common Stock, par value $0.001 per share, of
the Issuer and any other Capital Stock into which such stock may then be changed
or exchanged.

         "Governmental Authority" means any governmental, regulatory or
self-regulatory entity, department, body, official, authority, commission,
board, agency or instrumentality, whether federal, state or local, and whether
domestic or foreign.

         "Holders" means the Persons who from time to time shall then own the
Warrants.

         The term "Holder" means one of the Holders.

         "Independent Appraiser" means a nationally recognized or major regional
investment banking firm or firm of independent certified public accountants of
recognized standing (which may be the firm that regularly examines the financial
statements of the Issuer) that is regularly engaged in the business of
appraising the Capital Stock or assets of corporations or other entities as
going concerns, and which is not affiliated with either the Issuer or the Holder
of any Warrant.

         "Issuer" means HiEnergy Technologies, Inc., a Delaware corporation, and
its successors.

         "Majority Holders" means at any time the Holders of Warrants
exercisable for a majority of the shares of Warrant Stock issuable under the
Warrants at the time outstanding.

         "Original Issue Date" means _______, 2003.

         "OTC Bulletin Board" means the over-the-counter electronic bulletin
board.

         "Other Common" means any other Capital Stock of the Issuer of any class
which shall be authorized at any time after the date of this Warrant (other than
Common Stock) and which shall have the right to participate in the distribution
of earnings and assets of the Issuer without limitation as to amount.

         "Person" means an individual, corporation, limited liability company,
partnership, joint stock company, trust, unincorporated organization, joint
venture, Governmental Authority or other entity of whatever nature.

                                       9
<PAGE>

         "Per Share Market Value" means on any particular date (a) the closing
bid price for a share of Common Stock in the over-the-counter market, as
reported by the OTC Bulletin Board or in the National Quotation Bureau
Incorporated (or similar organization or agency succeeding to its functions of
reporting prices), or as reported by such other senior United States trading
facility as the Issuer may elect, at the close of business on such date, or (b)
if the Common Stock is not then reported by the OTC Bulletin Board or the
National Quotation Bureau Incorporated (or similar organization or agency
succeeding to its functions of reporting prices) or by such other senior United
States trading facility as the Issuer may elect, then the average of the "Pink
Sheet" quotes for the relevant conversion period, as determined in good faith by
the Board, or (c) if the Common Stock is not then publicly traded the fair
market value of a share of Common Stock as determined by the Board in good
faith; provided, however, that the Majority Holders, after receipt of the
determination by the Board, shall have the right to select, jointly with the
Issuer, an Independent Appraiser, in which case, the fair market value shall be
the determination by such Independent Appraiser; and provided, further that all
determinations of the Per Share Market Value shall be appropriately adjusted for
any stock dividends, stock splits or other similar transactions during such
period. The determination of fair market value shall be based upon the fair
market value of the Issuer determined on a going concern basis as between a
willing buyer and a willing seller and taking into account all relevant factors
determinative of value, and shall be final and binding on all parties. In
determining the fair market value of any shares of Common Stock, no
consideration shall be given to any restrictions on transfer of the Common Stock
imposed by agreement or by federal or state securities laws, or to the existence
or absence of, or any limitations on, voting rights.

         "Registration Statement" means a registration statement on Form SB-2
registering the Warrant Stock.

         "Securities" means any debt or equity securities of the Issuer, whether
now or hereafter authorized, any instrument convertible into or exchangeable for
Securities or a Security, and any option, warrant or other right to purchase or
acquire any Security. "Security" means one of the Securities.

         "Securities Act" means the Securities Act of 1933, as amended, or any
similar federal statute then in effect.

         "Subsidiary" means any corporation at least 50% of whose outstanding
Voting Stock shall at the time be owned directly or indirectly by the Issuer or
by one or more of its Subsidiaries, or by the Issuer and one or more of its
Subsidiaries.

         "Term" has the meaning specified in Section 1 hereof.

         "Trading Day" means (a) a day on which the Common Stock is traded on
the OTC Bulletin Board, or (b) if the Common Stock is not traded on the OTC
Bulletin Board, a day on which the Common Stock is quoted in the
over-the-counter market as reported by the National Quotation Bureau
Incorporated (or any similar organization or agency succeeding its functions of
reporting prices) or such other senior United States trading facility as in the
issuer may elect; provided, however, that in the event that the Common Stock is
not listed or quoted as set forth in (a) or (b) hereof, then Trading Day shall
mean any day except Saturday, Sunday and any day which shall be a legal holiday
or a day on which banking institutions in the State of Colorado are authorized
or required by law or other government action to close.

                                       10
<PAGE>

         "Voting Stock" means, as applied to the Capital Stock of any
corporation, Capital Stock of any class or classes (however designated) having
ordinary voting power for the election of a majority of the members of the Board
of Directors (or other governing body) of such corporation, other than Capital
Stock having such power only by reason of the happening of a contingency.

         "Warrants" means this Warrant, and any other warrants of like tenor
issued in substitution or exchange for this Warrant pursuant to the provisions
of Section 2(c), 2(d) or 2(e) hereof.

         "Warrant Price" initially means U.S. $______, in cash, per each one (1)
share of Common Stock, par value $0.001 and subsequently means from time to time
the Warrant Price as shall result from the adjustments specified in this
Warrant, including Section 4 hereto.

         "Warrant Stock" means Common Stock issuable upon exercise of any
Warrant or Warrants or otherwise issuable pursuant to any Warrant or Warrants.

         10. Other Notices. In case at any time:

                  (A) the Issuer shall make any distributions to the holders of
Common Stock; or

                  (B) the Issuer shall authorize the granting to all holders of
its Common Stock of rights to subscribe for or purchase any shares of Capital
Stock of any class or other rights; or

                  (C) there shall be any reclassification of the Capital Stock
of the Issuer; or

                  (D) there shall be any capital reorganization by the Issuer;
or

                  (E) there shall be any (i) consolidation or merger involving
the Issuer or (ii) sale, transfer or other disposition of all or substantially
all of the Issuer's property, assets or business (except a merger or other
reorganization in which the Issuer shall be the surviving corporation and its
shares of Capital Stock shall continue to be outstanding and unchanged and
except a consolidation, merger, sale, transfer or other disposition involving a
wholly-owned Subsidiary); or

                                       11
<PAGE>

                  (F) there shall be a voluntary or involuntary dissolution,
liquidation or winding-up of the Issuer or any partial liquidation of the Issuer
or distribution to holders of Common Stock;

then, in each of such cases, the Issuer shall give written notice to the Holder
of the date on which (i) the books of the Issuer shall close or a record shall
be taken for such dividend, distribution or subscription rights or (ii) such
reorganization, reclassification, consolidation, merger, disposition,
dissolution, liquidation or winding-up, as the case may be, shall take place.
Such notice also shall specify the date as of which the holders of Common Stock
of record shall participate in such dividend, distribution or subscription
rights, or shall be entitled to exchange their certificates for Common Stock for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, disposition, dissolution, liquidation
or winding-up, as the case may be. Such notice shall be given at least twenty
(20) days prior to the action in question and not less than twenty (20) days
prior to the record date or the date on which the Issuer's transfer books are
closed in respect thereto. The Holder shall have the right to send two (2)
representatives selected by him to each meeting, who shall be permitted to
attend, but not vote at, such meeting and any adjournments thereof. This Warrant
entitles the Holder to receive copies of all financial and other information
distributed or required to be distributed to the holders of the Common Stock.

         11. Amendment and Waiver. Any term, covenant, agreement or condition in
this Warrant may be amended, or compliance therewith may be waived (either
generally or in a particular instance and either retroactively or
prospectively), by a written instrument or written instruments executed by the
Issuer and the Majority Holders; provided, however, that such amendment or
waiver shall never at any time increase the Warrant Price, shorten the period
during which this Warrant may be exercised, reduce the aggregate number of
shares of Warrant Stock which may at such time be purchased upon exercise of
this Warrant, after giving effect to all prior adjustments to such number
required to be made under the terms hereof, or modify any provision of this
Section 11 without the consent of the Holder of this Warrant Certificate.

         12. Governing Law. THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO
PRINCIPLES OF CONFLICTS OF LAW.

         13. Notices. Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earlier of (i) the date of transmission, if
such notice or communication is delivered via facsimile at the facsimile
telephone number specified for notice prior to 5:00 p.m., eastern time, on a
Trading Day, (ii) the Trading Day after the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile telephone number
specified for notice later than 5:00 p.m., eastern time, on any date and earlier
than 11:59 p.m., eastern time, on such date, (iii) the Trading Day following the
date of mailing, if sent by nationally recognized overnight courier service or
(iv) actual receipt by the party to whom such notice is required to be given.
The addresses for such communications shall be with respect to the Holder of
this Warrant or of Warrant Stock issued pursuant hereto, addressed to such
Holder at his last known address or facsimile number appearing on the books of
the Issuer maintained for such purposes, with a copy to Holder's legal counsel
as Holder may designate from time to time, or with respect to the Issuer,
addressed to:

                                       12
<PAGE>

                                    HiEnergy Technologies, Inc.
                                    1601 Alton Parkway, Unit B
                                    Irvine, California 92606
                                    Attention: President
                                    Tel. No.: (949) 757-0855
                                    Fax No.: (949) 757-1477

with a copy to:                     Yocca Patch & Yocca, LLP
                                    19900 MacArthur Blvd, Suite 650
                                    Irvine, CA 92612
                                    Attention: Nicholas J. Yocca, Esq.
                                    Tel No.: (949) 253-0800
                                    Fax No.: (949) 253-0870

Any party hereto may from time to time change its or its counsel's address for
notices by giving at least ten (10) days written notice of such changed address
to the other party hereto.

         14. Warrant Agent. The Issuer may, by written notice to each Holder of
this Warrant, appoint an agent having an office in Colorado for the purpose of
issuing shares of Warrant Stock on the exercise of this Warrant pursuant to
subsection (b) of Section 2 hereof, exchanging this Warrant pursuant to
subsection (d) of Section 2 hereof or replacing this Warrant pursuant to
subsection (d) of Section 3 hereof, or any of the foregoing, and thereafter any
such issuance, exchange or replacement, as the case may be, shall be made at
such office by such agent.

         15. Remedies. The Issuer stipulates that the remedies at law of the
Holder of this Warrant in the event of any default or threatened default by the
Issuer in the performance of or compliance with any of the terms of this Warrant
are not and will not be adequate and that, to the fullest extent permitted by
law, such terms may be specifically enforced by a decree for the specific
performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise.

         16. Successors and Assigns. This Warrant and the rights evidenced
hereby shall inure to the benefit of and be binding upon the successors and
assigns of the Issuer, the Holder hereof and (to the extent provided herein) the
Holders of Warrant Stock issued pursuant hereto, and shall be enforceable by any
such Holder or Holder of Warrant Stock.

                                       13
<PAGE>

         17. Modification and Severability. If, in any action before any court
or agency legally empowered to enforce any provision contained herein, any
provision hereof is found to be unenforceable, then such provision shall be
deemed modified to the extent necessary to make it enforceable by such court or
agency. If any such provision is not enforceable as set forth in the preceding
sentence, the unenforceability of such provision shall not affect the other
provisions of this Warrant, but this Warrant shall be construed as if such
unenforceable provision had never been contained herein.

         18. Headings. The headings of the Sections of this Warrant are for
convenience of reference only and shall not, for any purpose, be deemed a part
of this Warrant.

         IN WITNESS WHEREOF, the Issuer has executed this Warrant as of the day
and year first above written.

                                  HIENERGY TECHNOLOGIES, INC.

                                  By:
                                     -----------------------------------------
                                     Name: Bogdan C. Maglich
                                     Title: Chief Executive Officer

                             FOR USE BY ISSUER ONLY

                               Warrant No.: W-___

                          Registered Holder: __________

                                       14
<PAGE>

                                  EXERCISE FORM

The undersigned, _______________________, pursuant to the provisions of the
within Warrant, hereby elects to purchase _______ shares covered by the within
Warrant to Purchase of Common Stock.

Dated: _________________            Signature
                                             -----------------------------------
Warrant No. W-___
                                    Address
                                            ------------------------------------

                                   ASSIGNMENT

FOR VALUE RECEIVED, the undersigned, _________________, pursuant to the
provisions of the within Warrant hereby sells, assigns and transfers unto
__________________ the within Warrant and all rights evidenced thereby and does
irrevocably constitute and appoint _____________, attorney, to transfer the said
Warrant on the books of the within named corporation.

Dated: _________________            Signature
                                             -----------------------------------
Warrant No. W-___
                                    Address
                                            ------------------------------------

                               PARTIAL ASSIGNMENT

FOR VALUE RECEIVED, the undersigned, _________________, hereby sells, assigns
and transfers unto __________________ the right to purchase _________ shares of
Warrant Stock evidenced by the within Warrant together with all rights therein,
and does irrevocably constitute and appoint ___________________, attorney, to
transfer that part and reissue the remainder of the within Warrant to the
undersigned on the books of the Issuer.

Dated: _________________            Signature
                                             -----------------------------------
Warrant No. W-___
                                    Address
                                            ------------------------------------

                             FOR USE BY ISSUER ONLY:

This Warrant No. W-___ was issued on _______, 2003.

This Warrant is (canceled or transferred or exchanged or exercised) on
________,______ for the following:

<TABLE>
<CAPTION>
<S>                        <C>                         <C>
Stock Certificate No.      #shares of Common Stock     Name of Registered Holder/Address and Tax ID No.

Warrant Certificate No.    #shares of Common Stock     Name of Registered Holder/Address and Tax ID No.
</TABLE>

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