Document:

Exhibit
      4.1

    

    CERTIFICATE
      OF CREATION OF

    

    SERIES
      A PREFERRED STOCK

    

    OF

    

    SPECTRASCIENCE,
      INC.

    

    I,
      James
      Hitchin, Chief Executive Officer of SpectraScience, Inc. a Minnesota corporation
      (the “Company”), do hereby certify that on June 12, 2007, under the authority of
      Article II, Section 2.01 of the Company's Amended and Restated Articles of
      Incorporation, the Board of Directors of the Company unanimously adopted a
      resolution fixing the rights and preferences of 2,250,000 of the Company's
      undesignated shares of capital stock as Series A Preferred Stock, $.01 par
      value, with the preferences, rights and limitations set forth on Exhibit A
      which
      is attached hereto and hereby incorporated herein.

    

    IN
      WITNESS WHEREOF,
      I have
      hereunto subscribed my name as Chief Executive Officer of the Company this
      twelfth day of June, 2007.

    
      	 	 	 
	
            	
            	
            
	 	
              

              James
                Hitchin

              Chief
                Executive Officer

            

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    DESIGNATION
      OF THE RELATIVE RIGHTS

    AND
      PREFERENCES OF THE SERIES A PREFERRED STOCK.

     

    DESIGNATION
      AND RANK

     

    SpectraScience,
      Inc. a Minnesota corporation (the “Company”), hereby designates out of its
      authorized, but unissued, shares of preferred stock, a new series of preferred
      stock entitled Series A Preferred Stock, par value $.01 per share (the “Series A
      Preferred Stock”). The maximum number of shares of Series A Preferred Stock
      shall be two million two hundred and fifty thousand (2,250,000) shares. The
      Series A Preferred Stock shall rank, with respect to dividends and rights upon
      liquidation, winding up and dissolution, senior to the Common Stock of the
      Company.

     

    DIVIDENDS 

     

    Dividends
      are payable on the Series A Preferred Stock only if, when and in the amount
      declared by the Board of Directors in its sole discretion. If the Company
      declares a dividend or a distribution on any Common Stock of the Company, the
      Company shall pay a dividend or make a distribution on all outstanding shares
      of
      Series A Preferred Stock in an amount per share equal to the maximum amount
      paid
      or set aside for all shares of Common Stock into which each such share of Series
      A Preferred Stock could then be converted (the “Preferred Dividend”). The
      Company shall pay the Preferred Dividend prior to paying a dividend or
      distribution to the holders of Common Stock. 

     

    LIQUIDATION
      PREFERENCE

     

    VOTING
      RIGHTS

     

    Each
      holder of Series A Preferred Stock shall be entitled to the number of votes
      equal to the number of shares of Common Stock into which such shares of Series
      A
      Preferred Stock are then convertible and shall have voting rights and powers
      equal to the voting rights and powers of the Common Stock, except as otherwise
      required by Minnesota law or as set forth in this Designation, voting together
      with the Common Stock as a single class. Fractional votes shall not be permitted
      and any fractional voting rights resulting from the conversion of Series A
      Preferred Stock into Common Stock (in the case of each holder, after aggregating
      all fractional shares held by such holder into the maximum number of whole
      shares) shall be rounded to the nearest whole number (with one-half being
      rounded upward). Each holder of Common Stock shall be entitled to one (1) vote
      for each share of Common Stock held. Notwithstanding the foregoing, the holders
      of the Series A Preferred Stock shall vote as a single class to elect one
      director of the Company if on the record date for such election at least five
      hundred thousand (500,000) shares of Series A Preferred Stock are
      outstanding.

     

    CONVERSION

     

    The
      holders of Series A Preferred Stock shall have the following conversion rights
      (the “Conversion Rights”) as defined below:

     

    ANTI-DILUTION
      ADJUSTMENTS

     

    The
      Conversion Price is subject to adjustment as provided in this Section
      6.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    Adjustments
      for Subdivision or Combination of Common Stock.
      In the
      event the outstanding shares of Common Stock shall be subdivided by stock split,
      stock dividend or otherwise into a greater number of shares of Common Stock,
      the
      Conversion Price shall, concurrently within the effectiveness of such
      subdivision, be proportionately decreased. In the event the outstanding shares
      of Common Stock shall be combined or consolidated into a lesser number of shares
      of Common Stock, the Conversion Price shall, concurrently with the effectiveness
      of such combination or consolidation, be proportionately increased.

    

    Stock
      Dividends and Other Distributions.
      In the
      event the Company makes, or fixes a record date for the determination of holders
      of Common Stock entitled to receive, any distribution payable in property,
      in
      securities of other persons or of the Company or evidences of indebtedness
      of
      other persons or of the Company, unless otherwise adjusted for in this Section
      6
      or as provided for in Section 2 in connection with a Preferred Dividend, then,
      and in each such event, the holders of Class A Preferred Stock shall receive,
      at
      the time of such distribution, the amount of any such distribution that they
      would have received had their Class A Preferred Stock been converted into Common
      Stock immediately prior to the date of such event. 

    

    Adjustments
      for Reorganization, Reclassification or Similar Events.
      If the
      Common Stock shall be changed into the same or a different number of shares
      of
      any other class or classes of stock or other securities or property, whether
      by
      capital reorganization, reclassification or otherwise, then each share of Class
      A Preferred Stock shall thereafter be convertible into the number of shares
      of
      stock or other securities or property to which a holder of the number of shares
      of Common Stock of the Company deliverable upon conversion of such shares of
      Class A Preferred Stock shall have been entitled upon such reorganization,
      reclassification or other event. 

    

    Adjustments
      for Diluting Issues.
      In
      addition to the adjustments to the Conversion Price provided above, the
      Conversion Price shall be further adjusted from time to time as follows (the
      main operative provision hereof is in Section 6(d)(iii) below):

    

    Special
      Definitions:

    

    “Options”
shall
      mean rights, options or warrants (other than as excluded by Section 6(d)(i)(D)
      below) to subscribe for, purchase or otherwise acquire either Common Stock
      or
      Convertible Securities (as defined herein).

    

    “Original
      Issue Date”
shall
      mean the date of the Closing of a transaction or series of transactions in
      which
      the Company issues shares of Series A Preferred Stock for an aggregate
      consideration of at least $1,000,000. 

    

    "Convertible
      Securities”
shall
      mean securities (other than as excluded by Section 6(d)(i)(D) below)
      convertible, either directly or indirectly, into or exchangeable for Common
      Stock.

    

    “Additional
      Shares of Common Stock”
shall
      mean all shares of Common Stock, for which an adjustment under section 6(a)
      has
      already been made, issued (or deemed to be issued) by the Company after the
      Original Issue Date other than the following: 

    

    Shares
      of
      Common Stock issued (or deemed to be issued) upon the conversion of any of
      the
      Series A Preferred Stock, or as a dividend or distribution on the Series A
      Preferred Stock;

    

    Shares
      of
      Common Stock issued (or deemed to be issued) upon the conversion of any
      debenture, warrant, option or other convertible security that is outstanding
      as
      of the Original Issue Date or issued in connection with the issuance of the
      Series A Preferred Stock, unless such exercise or conversion price was adjusted
      downward after the issuance of the Series A Preferred Stock;

    

    Shares
      of
      Common Stock issued (or deemed to be issued) upon a stock split, stock dividend
      or other subdivision of shares of Common Stock;

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    Shares
      of
      Common Stock (or options to purchase such shares) issued (or deemed to be
      issued) to employees, consultants or directors pursuant to stock option, stock
      grant, stock purchase or similar plans or arrangements approved by the Company's
      Board of Directors, including the Series A Director;

    

    Deemed
      Issue of Additional Shares of Common Stock.
      Except
      as otherwise provided in Section 6(d), if the Company at any time or from time
      to time after the Original Issue Date shall issue any Options or Convertible
      Securities or shall fix a record date for the determination of any holders
      of
      any class of securities entitled to receive any such Options or Convertible
      Securities, then the maximum number of shares (as set forth in the instrument
      relating thereto without regard to any provisions contained therein for a
      subsequent adjustment of such number) of Common Stock issuable upon the exercise
      of such Options or, in the case of Convertible Securities and Options therefore,
      the conversion or exchange of such Convertible Securities, shall be deemed
      to be
      Additional Shares of Common Stock issued as of the time of such issue or, in
      case such record date shall have been fixed, as of the close of business on
      such
      record date, provided that in any such case in which Additional Shares of Common
      Stock are deemed to be issued:

    

    No
      further adjustment in the Conversion Price shall be made upon the subsequent
      issue of such Convertible Securities or shares of Common Stock upon the exercise
      of such Options or conversion or exchange of such Convertible Securities at
      the
      same exercise, conversion or exchange price or ratio in effect upon the adoption
      of the applicable plan or grant of such Option or Convertible
      Securities;

    

    If
      such
      Options or Convertible Securities by their terms provide, with the passage
      of
      time or otherwise, for any increase or decrease in the consideration payable
      to
      the Company, or increase or decrease in the number of shares of Common Stock
      issuable upon the exercise, conversion or exchange thereof, the Conversion
      Price
      computed upon the original issue thereof or upon the occurrence of a record
      date
      with respect thereto, and any subsequent adjustments based thereon, shall,
      upon
      any such increase or decrease becoming effective, be recomputed to reflect
      such
      increase or decrease;

    

    Upon
      the
      expiration or termination of any such Option or any rights of conversion or
      exchange under such Convertible Securities which shall not have been exercised,
      the Conversion Price computed upon the original issue thereof or upon occurrence
      of a record date with respect thereto, and any subsequent adjustments based
      thereon, shall, upon such expiration:

    

    In
      the
      case of Convertible Securities or Options for Common Stock, be recomputed as
      though the only Additional Shares of Common Stock issued were shares of Common
      Stock, if any, actually issued upon the exercise of such Options or the
      conversion or exchange of such Convertible Securities, and the consideration
      received therefore was the consideration actually received by the Company for
      the issue of all such Options, whether or not exercised, plus the consideration
      actually received by the Company upon such exercise, or for the issue of all
      such Convertible Securities, whether or not converted or exchanged, plus the
      additional consideration, if any, actually received by the Company upon such
      conversion or exchange; and;

    

    In
      the
      case of Options for Convertible Securities, be recomputed as though only the
      Convertible Securities, if any, actually issued upon the exercise thereof were
      issued at the time of issue of such Options and the consideration received by
      the Company for the Additional Shares of Common Stock deemed to have been then
      issued was the consideration actually received by the Company for the issue
      of
      all such Options, whether or not exercised, plus the consideration deemed to
      have been received by the Company upon the issue of the Convertible Securities
      with respect to which such Options were actually exercised.

    

    No
      readjustment pursuant to Section 6(d) shall have the effect of increasing the
      Conversion Price to an amount which exceeds the Conversion Price existing
      immediately prior to the original adjustment with respect to the issuance of
      such Options or Convertible Securities, as adjusted for any Additional Shares
      of
      Common Stock issued (or deemed to be issued) between such original adjustment
      date and such readjustment date; and in
      the
      case of any Option or Convertible Security with respect to which the maximum
      number of shares of Common Stock issuable upon exercise or conversion or
      exchange thereof is not determinable, no adjustment to the Conversion Price
      shall be made until such number becomes determinable.

     

    
      
        
        

      

      
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    Adjustments
      for Issuance of Additional Shares of Common Stock.
      If the
      Company, at any time after the Original Issue Date, shall issue any Additional
      Shares of Common Stock (otherwise than provided in sections 6(a), 6(b) or 6(c)
      above) at a price per share less than the applicable Conversion Price then
      in
      effect or without consideration, then the applicable Conversion Price upon
      each
      such issuance shall be adjusted to the consideration per share paid for the
      Additional Common Stock.

     

    The
      provisions of Section 6(d)(iii) shall not apply under any of the circumstances
      for which an adjustment is provided in Sections 6(a), 6(b) or 6(c) above. No
      adjustment of the applicable Conversion Price shall be made under this Section
      6(d) upon the issuance of any Additional Shares of Common Stock which are issued
      pursuant to any Options or Convertible Securities if upon the issuance of such
      Options or Convertible Securities (x) any adjustment shall have been made
      pursuant to Section 6(d)(ii) above or (y) no adjustment was required pursuant
      to
      this Section 6(d)(iii). No adjustment of the applicable Conversion Price shall
      be made under this Section 6(d)(iii) in an amount less than $.01 per share,
      but
      any such lesser adjustment shall be carried forward and shall be made at the
      time and together with the next subsequent adjustment, if any, which together
      with any adjustments so carried forward shall amount to $.01 per share or more;
      provided, however, that upon any adjustment of the applicable Conversion Price
      as a result of any dividend or distribution payable in Common Stock or
      Convertible Securities or the reclassification, subdivision or combination
      of
      Common Stock into a greater or smaller number of shares, the foregoing figure
      of
      $.01 per share (or such figure as last adjusted) shall be adjusted (to the
      nearest one-half cent) in proportion to the adjustment in the applicable
      Conversion Price.

    

    Determination
      of Consideration.
      For
      purposes of this Section 6(d), the consideration received by the Company for
      any
      Additional Shares of Common Stock issued (or deemed to be issued) shall be
      computed as follows:

     

    Cash
      and Property.
      Such
      consideration shall:

    

    Insofar
      as it consists of cash, be computed at the aggregate amount of cash received
      by
      the Company;

    

    Insofar
      as it consists of securities and the value of such securities is not
      determinable by reference to a separate agreement, (A) if the securities are
      then traded on a national securities exchange or the Nasdaq Stock Market (or
      a
      similar national quotation system), then the value shall be computed based
      on
      the average of the closing prices of the securities on such exchange or system
      over the thirty (30)-day period ending on the date of receipt by the Company,
      (B) if the securities are actively traded over-the-counter, then the value
      shall
      be computed based on the average of the closing bid prices over the thirty
      (30)
      day ending on the date of receipt by the Company, and (C) if there is no active
      public market, then the value shall be computed based on the fair market value
      thereof on the date of receipt by the Company, as determined in good faith
      by
      the Board of Directors;

    

    Insofar
      as it consists of property other than cash and securities, be computed at the
      fair market value thereof at the time of such issuance, as determined in good
      faith by the Board of Directors; and if
      Additional Shares of Common Stock are issued (or deemed to be issued) together
      with other shares or securities or other assets of the Company for consideration
      which cover both, by the proportion of such consideration so received, computed
      as provided in the immediately preceding Sections 6(d)(iv)(A)(1), 6(d)(iv)(A)(2)
      and 6(d)(iv)(A)(3), as determined in good faith by the Board of
      Directors.

    

    Options
      and Convertible Securities.
      The
      consideration received by the Company for Additional Shares of Common Stock
      deemed to have been issued pursuant to Section 6(d) relating to Option and
      Convertible Securities, shall be the sum of (x) the total amount, if any,
      received or receivable by the Company as consideration for the issue of such
      Options or Convertible Securities, plus (y) the minimum aggregate amount of
      additional consideration (as set forth in the instruments relating thereto,
      without regard to any provision contained therein for a subsequent adjustment
      of
      such consideration) payable to the Company upon the exercise of such Options
      or
      the conversion or exchange of such Convertible Securities, or in the case of
      Options for Convertible Securities, the exercise of such Options for Convertible
      Securities and the conversion or exchange of such Convertible Securities.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    The
      Conversion Price shall also be subject to adjustment on the date of issuance
      of
      the audited financial statements of the Company for the fiscal year ending
      December 31, 2007, in the event that the gross revenues of the Company for
      the
      fiscal year ended December 31, 2007, excluding grants and other development
      funds, interest income, and other non-operating income, and excluding revenues
      from acquired companies or products, is less than the target revenues set forth
      below:

    

    
      	
              Target
                Revenue

            	 	
              Adjusted
                

              Conversion
                Price

            	 
	
              $6
                million or more

            	 	
              $

            	
              .50

            	 
	
              At
                least $5 million, but less than $6 million

            	 	
              $

            	
              .37

            	 
	
              At
                least $4 million, but less than $5 million

            	 	
              $

            	
              .25

            	 
	
              Less
                than $4 million

            	 	
              $

            	
              .125

            	 

    

    

    Certificate
      as to Adjustments.
      Upon
      the occurrence of each adjustment or readjustment of the Conversion Price,
      the
      Company, at its expense, shall promptly compute such adjustment or readjustment
      in accordance with the terms hereof and furnish to each holder of Series A
      Preferred Stock a certificate setting forth such adjustment or readjustment
      and
      showing in detail the facts upon which such adjustment or readjustment is based.
      The Company shall, upon the written request at any time of any holder of Series
      A Preferred Stock, furnish or cause to be furnished to the holder a like
      certificate setting forth (i) such adjustments and readjustments, (ii) the
      Conversion Price at the time in effect, and (iii) the number of shares of Common
      Stock and the amount, if any, of other property which at the time would be
      received upon conversion of the Series A Preferred Stock. 

    

    OTHER
      PROVISIONS

    

    The
      consent of the holders of 67% of the Series A Preferred Stock voting as a
      separate class shall be required for the Company to take any action that (i)
      alters or changes the rights, preferences or privileges of the Series A
      Preferred Stock, (ii) increases or decreases the authorized number of shares
      of
      capital stock, (iii) creates (by reclassification or otherwise) any new class
      or
      series of shares having rights, preferences or privileges senior to or in parity
      with the Series A Preferred Stock, (iv) results in the redemption of any shares
      of Common Stock (other than pursuant to equity incentive agreements giving
      the
      Company the right to repurchase shares upon the termination of services), (v)
      results in a Change of Control (as defined herein), (vi) amends or waives any
      provisions of the Company’s Articles of Incorporation or Bylaws relative to the
      Series A Preferred Stock, or (vii) results in the payment or declaration of
      any
      dividend on any shares of equity securities. A “Change in Control” shall mean
      the acquisition of the Company by another entity by means of any transaction
      or
      series of related transactions including, without limitation, any
      reorganization, merger or consolidation or sale of all or substantially all
      of
      the assets or shares of stock of the Company (each a “Change of Control”);
      provided, however, that, in each such case, the applicable transaction shall
      not
      be deemed a Change of Control unless the Company’s shareholders of record as
      constituted immediately prior to such transaction (by virtue of shares of the
      Company owned by such shareholders or securities issued solely with respect
      thereto as consideration for the Company’s acquisition or sale or otherwise)
      hold less than 50% of the voting power of the surviving or acquiring
      entity.

    

    No
      shares
      of Series A Preferred Stock acquired by the Company by reason of redemption,
      repurchase, conversion or otherwise shall be reissued as Series A Preferred
      Stock. All such shares shall be cancelled, retired and eliminated from the
      shares of Series A Preferred Stock which the Company shall be authorized to
      issue and shall once again become undesignated shares of the Company’s preferred
      stock under Section 2.1 of the Company’s amended and Restated Articles of
      Incorporation.

     

    
      
        
        

      

      
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    Upon
      receipt by the Company of evidence satisfactory to the Company of the loss,
      theft, destruction or mutilation of any certificates representing shares of
      Series A Preferred Stock, and, in the case of loss, theft or destruction, of
      a
      satisfactory indemnification undertaking by the holder to the Company and,
      in
      the case of mutilation, upon surrender and cancellation of the Series A
      Preferred Stock certificate(s), the Company shall execute and deliver new
      preferred stock certificate(s) of like tenor and date; provided, however, that
      the Company shall not be obligated to re-issue preferred stock certificates
      if
      the holder contemporaneously requests the Company to convert such shares of
      Series A Preferred Stock into Common Stock.

    

    NO
      CUMULATIVE VOTING RIGHTS

    

    No
      holder
      of the Series A Preferred Stock shall have any cumulative voting
      rights.

    

    NO
      PREEMPTIVE RIGHTS

    

    No
      holder
      of the Series A Preferred Stock shall have any preemptive rights by virtue
      of
      Section 302A.413 of the Minnesota Statutes (or any amendment or restatement
      thereof) to subscribe for, purchase or otherwise acquire any shares of the
      Company of any class, whether unissued or not or hereafter authorized, or any
      obligations or other securities convertible into or exchangeable for any such
      shares.

     

    
      
        
        

      

      
        7Exhibit
      4.2

    

    STOCK
      PURCHASE WARRANT

    To
      Purchase Series A Preferred Stock of

    

    SPECTRASCIENCE,
      INC.

    

    THIS
      WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) NOR
      UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR
      OTHERWISE TRANSFERRED UNTIL (1) A REGISTRATION STATEMENT UNDER THE ACT AND
      ANY
      APPLICABLE STATE SECURITIES LAW HAS BECOME EFFECTIVE WITH RESPECT THERETO,
      OR
      (2) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL TO THE COMPANY TO THE EFFECT
      THAT REGISTRATION UNDER THE ACT OR APPLICABLE STATE SECURITIES LAW IS NOT
      REQUIRED IN CONNECTION WITH THE PROPOSED TRANSFER.

    

    Void
      after 5:00 p.m. Central Standard Time, on June __, 2012.

    

    Warrant
      to Purchase 250,000 Shares of Series A Preferred Stock.

    WARRANT
      TO PURCHASE SERIES A PREFERRED STOCK OF SPECTRASCIENCE,
      INC.

    

    This
      is
      to Certify That, FOR VALUE RECEIVED, ___________________ (“Holder”) is entitled
      to purchase, subject to the provisions of this Warrant, from SpectraScience,
      Inc., a Minnesota corporation (“Company”), 250,000 fully paid, validly issued
      and nonassessable shares of Series A Preferred Stock, no par value per share,
      of
      the Company (“Preferred Stock”) at an initial price of $0.50 per share at any
      time or from time to time during the period from the date hereof to 5:00 p.m.
      Central Standard Time, on June __, 2012. The number of shares of Preferred
      Stock
      to be received upon the exercise of this Warrant and the price to be paid for
      each share of Preferred Stock may be adjusted from time to time as hereinafter
      set forth. The exercise price and the number of shares issuable upon exercise
      of
      the Warrants will be proportionately adjusted for stock splits, stock dividends,
      recapitalizations and similar transactions. The shares of Preferred Stock
      deliverable upon such exercise, and as adjusted from time to time, are
      hereinafter sometimes referred to as “Warrant Shares” and the exercise price of
      a share of Preferred Stock in effect at any time and as adjusted from time
      to
      time is hereinafter sometimes referred to as the “Exercise Price”.

    

    (a) EXERCISE
      OF WARRANT.

    

    (1) This
      Warrant may be exercised in whole or in part at any time or from time to time
      on
      or after the date hereof and until 5:00 p.m. Central Standard Time on June
      __,
      2012; provided, however, that if either such day is a day on which banking
      institutions in the State of Iowa are authorized by law to close, then on the
      next succeeding day which shall not be such a day. This Warrant may be exercised
      by presentation and surrender hereof to the Company at its principal office
      with
      the Purchase Form annexed hereto duly executed and accompanied by payment of
      the
      Exercise Price for the number of Warrant Shares specified in such form. As
      soon
      as practicable after each such exercise of the warrants, but not later than
      seven (7) days from the date of such exercise, the Company shall issue and
      deliver to the Holder a certificate or certificate for the Warrant Shares
      issuable upon such exercise, registered in the name of the Holder or its
      designee. If this Warrant should be exercised in part only, the Company shall,
      upon surrender of this Warrant for cancellation, execute and deliver a new
      Warrant evidencing the rights of the Holder thereof to purchase the balance
      of
      the Warrant Shares purchasable thereunder. Upon receipt by the Company of this
      Warrant at its office in proper form for exercise, the Holder shall be deemed
      to
      be the holder of record of the shares of Preferred Stock issuable upon such
      exercise, notwithstanding that the stock transfer books of the Company shall
      then be closed or that certificates representing such shares of Preferred Stock
      shall not then be physically delivered to the Holder. In
      lieu
      of delivering the Exercise Price in cash or check the Holder may elect to
      receive shares equal to the value of the Warrant or portion thereof being
      exercised (“Net Issue Exercise”). If the Holder wishes to elect the Net Issue
      Exercise, the Holder shall notify the Company of its election in writing at
      the
      time it delivers to the Company the Purchase Form. In the event the Holder
      shall
      elect Net Issue Exercise, the Holder shall receive the number of shares of
      Preferred Stock equal to the product of (a) the number of shares of Preferred
      Stock purchasable under the Warrant, or portion thereof being exercised, and
      (b)
      the current market value, as defined in paragraph (c), of one share of Preferred
      Stock (or the common stock of the Company that would be received upon the
      conversion of the Preferred Stock) minus the Exercise Price, divided by (c)
      the
      current market value, as defined below, of one share of Preferred Stock (or
      the
      common stock of the Company that would be received upon conversion of the
      preferred stock).

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    (b) RESERVATION
      OF SHARES.
      The
      Company shall at all times reserve for issuance and/or delivery upon exercise
      of
      this Warrant such number of shares of its Preferred Stock as shall be required
      for issuance and delivery upon exercise of the Warrants.

    

    (c) FRACTIONAL
      SHARES.
      No
      fractional shares or scrip representing fractional shares shall be issued upon
      the exercise of this Warrant. With respect to any fraction of a share called
      for
      upon any exercise hereof, the Company shall pay to the Holder an amount in
      cash
      equal to such fraction multiplied by the current market value of a share,
      determined as follows: 

     

    If
      the
      Preferred Stock (or the common stock of the Company that would be received
      upon
      the conversion of the Preferred Stock) is listed on a national securities
      exchange or admitted to unlisted trading privileges on such exchange or listed
      for trading on the NASDAQ system, the current market value shall be the last
      reported sale price of the Preferred Stock (or common stock) on such exchange
      or
      system on the last business day prior to the date of exercise of this Warrant
      or
      if no such sale is made on such day, the average closing bid and asked prices
      for such day on such exchange or system; or

    

    If
      the
      Preferred Stock (or the common stock of the Company that would be received
      upon
      the conversion of the Preferred Stock) is not so listed or admitted to unlisted
      trading privileges, the current market value shall be the mean of the last
      reported bid and asked prices reported by the National Quotation Bureau, Inc.
      on
      the last business day prior to the date of the exercise of this Warrant;
      or

    

    If
      the
      Preferred Stock (or the common stock of the Company that would be received
      upon
      the conversion of the Preferred Stock) is not so listed or admitted to unlisted
      trading privileges and bid and asked prices are not so reported, the current
      market value shall be an amount, not less than the book value thereof as at
      the
      end of the most recent fiscal year of the Company ending prior to the date
      of
      the exercise of the Warrant, determined in such reasonable manner as may be
      prescribed by the Board of Directors of the Company.

    

    (d) EXCHANGE,
      TRANSFER, ASSIGNMENT OR LOSS OF WARRANT.
      This
      Warrant is exchangeable, without expense, at the option of the Holder, upon
      presentation and surrender hereof to the Company for other warrants of different
      denominations entitling the holder thereof to purchase in the aggregate the
      same
      number of shares of Preferred Stock purchasable hereunder. Upon surrender of
      this Warrant to the Company at its principal office with the Assignment Form
      annexed hereto duly executed and funds sufficient to pay any transfer tax,
      the
      Company shall, without charge, execute and deliver a new Warrant in the name
      of
      the assignee named in such instrument of assignment and this Warrant shall
      promptly be cancelled. This Warrant may be divided or combined with other
      warrants which carry the same rights upon presentation hereof at the principal
      office of the Company together with a written notice specifying the names and
      denominations in which new Warrants are to be issued and signed by the Holder
      hereof. The term “Warrant” as used herein includes any Warrants into which this
      Warrant may be divided or exchanged. Upon receipt by the Company of evidence
      satisfactory to it of the loss, theft, destruction or mutilation of this
      Warrant, and (in the case of loss, theft or destruction) of reasonably
      satisfactory indemnification, and upon surrender and cancellation of this
      Warrant, if mutilated, the Company will execute and deliver a new Warrant of
      like tenor and date. Any such new Warrant executed and delivered shall
      constitute an additional contractual obligation on the part of the Company,
      whether or not this Warrant so lost, stolen, destroyed, or mutilated shall
      be at
      any time enforceable by anyone. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    (e) RIGHTS
      OF THE HOLDER.
      The
      Holder shall not, by virtue hereof, be entitled to any rights of a shareholder
      in the Company, either at law or equity, and the rights of the Holder are
      limited to those expressed in the Warrant and are not enforceable against the
      Company except to the extent set forth herein. 

    

    (f) ANTI-DILUTION
      PROVISIONS.
      The
      Exercise Price in effect at any time and the number and kind of securities
      purchasable upon the exercise of the Warrants shall be subject to adjustment
      from time to time upon the happening of certain events as follows: 

    

    (1)
       In
      case
      the Company shall (i) declare a dividend or make a distribution on its
      outstanding shares of Common Stock in shares of Common Stock, (ii) subdivide
      or
      reclassify its outstanding shares of Common Stock into a greater number of
      shares, or (iii) combine or reclassify its outstanding shares of Common Stock
      into a smaller number of shares, the Exercise Price in effect at the time of
      the
      record date for such dividend or distribution or of the effective date of such
      subdivision, combination or reclassification shall be adjusted so that the
      Exercise Price shall be proportionately increased (as in the case of (iii),
      above) or decreased (as in the case of (i) or (ii), above). Such adjustment
      shall be made successively whenever any event listed above shall
      occur.

    

    (2)
       In
      case
      the Company shall fix a record date for the issuance of rights or warrants
      to
      all holders of its Common Stock entitling them to subscribe for or purchase
      shares of Common Stock (or securities convertible into Common Stock) at a price
      (the “Subscription Price”) (or having a conversion price per share) less than
      the Exercise Price on such record date, the Exercise Price shall be adjusted
      so
      that the same shall equal such lower price. Such adjustment shall be made
      successively whenever such rights or warrants are issued and shall become
      effective immediately after the record date for the determination of
      shareholders entitled to receive such rights or warrants; and to the extent
      that
      shares of Common Stock are not delivered (or securities convertible into Common
      Stock are not delivered) after the expiration of such rights or warrants, the
      Exercise Price shall be readjusted to the Exercise Price which would then be
      in
      effect had the adjustments made upon the issuance of such rights or warrants
      been made upon the basis of delivery of only the number of shares of Common
      Stock (or securities convertible into Common Stock) actually delivered.

    

    (3)
       In
      case
      the Company shall hereafter distribute to the holders of its Common Stock
      evidences of its indebtedness or assets (excluding cash dividends or
      distributions and dividends or distributions referred to in Subsection (1)
      above) or subscription rights or warrants (excluding those referred to in
      Subsection (2) above), the Company shall reserve and the holder of this warrant
      shall thereafter, upon exercise hereof, be entitled to receive with respect
      to
      each share of Preferred Stock purchased hereunder, without any change in, or
      payment in addition to Exercise Price, the amount of any property or other
      securities which would have been distributed to such holder had such holder
      been
      a holder of one share of Preferred Stock on the record date of such distribution
      (or, if no record date was established by the Company, the date such
      distribution was paid).

    

    (4)
       In
      case
      the Company shall issue shares of its Common Stock excluding shares issued
      (i)
      in any of the transactions described in Subsection (1) above, (ii) upon exercise
      of options granted to the Company’s employees under a plan or plans adopted by
      the Company’s Board of Directors and approved by its shareholders, if such
      shares would otherwise be included in this Subsection (4), (iii) upon exercise
      of this Warrant and (iv) to shareholders of any corporation which merges into
      the Company in proportion to their stock holdings of such corporation
      immediately prior to such merger, upon such merger, or issued in a bona fide
      public offering pursuant to a firm commitment underwriting, but only if no
      adjustment is required pursuant to any other specific subsection of this Section
      (f) (without regard to Subsection (8) below) with respect to the transaction
      giving rise to such rights for a consideration per share (the “Offering Price”)
      less than the Exercise Price, the Exercise Price shall be adjusted immediately
      thereafter so that it shall equal such Offering Price. 

     

    Such
      adjustment shall be made successively whenever such an issuance is
      made.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    (5)
       In
      case
      the Company shall issue any securities convertible into or exchangeable for
      its
      Preferred Stock, excluding securities issued in transactions described in
      Subsections (2) and (3) above, for a consideration per share of Preferred Stock
      (the “Conversion Price”) initially deliverable upon conversion or exchange of
      such securities, determined as provided in Subsection (7) below, less than
      the
      Exercise Price, the Exercise Price shall be adjusted immediately thereafter
      so
      that it shall equal such Conversion Price. Such adjustment shall be made
      successively whenever such an issuance is made.

    

    (6)
       Whenever
      the Exercise Price payable upon exercise of each Warrant is adjusted pursuant
      to
      Subsections (1), (2), (3), (4) and (5) above, the number of Shares purchasable
      upon exercise of this Warrant shall simultaneously be adjusted by multiplying
      the number of Shares initially issuable upon exercise of this Warrant by the
      Exercise Price in effect on the date hereof and dividing the product so obtained
      by the Exercise Price, as adjusted.

    

    (7) For
      purposes of any computation respecting consideration received pursuant to
      Subsections (4) and (5) above, the following shall apply:

    

    (A)
       In
      the
      case of the issuance of shares of Common Stock for cash, the consideration
      shall
      be the amount of such cash, provided that in no case shall any deduction be
      made
      for any commissions, discounts or other expenses incurred by the Company for
      any
      underwriting of the issue or otherwise in connection therewith;

    

    (B) In
      the
      case of the issuance of shares of Common Stock for a consideration in whole
      or
      in part other than cash, the consideration other than cash shall be deemed
      to be
      the fair market value thereof as determined in good faith by the Board of
      Directors of the Company (irrespective of the accounting treatment thereof),
      whose determination shall be conclusive; and

    

    (C) In
      the
      case of the issuance of securities convertible into or exchangeable for shares
      of Common Stock, the aggregate consideration received therefore shall be deemed
      to be the consideration received by the Company for the issuance of such
      securities plus the additional minimum consideration, if any, to be received
      by
      the Company upon the conversion or exchange thereof, the consideration in each
      case to be determined in the same manner as provided in clauses (A) and (B)
      of
      this Subsection (7).

    

    (8) No
      adjustment in the Exercise Price shall be required unless such adjustment would
      require an increase or decrease of at least two cents ($0.02) in such price;
      provided, however, that any adjustments which by reason of this Subsection
      (8)
      are not required to be made shall be carried forward and taken into account
      in
      any subsequent adjustment required to be made hereunder. All calculations under
      this Section (f) shall be made to the nearest cent or to the nearest
      one-hundredth of a share, as the case may be. Anything in this Section (f)
      to
      the contrary notwithstanding, the Company shall be entitled, but shall not
      be
      required, to make such changes in the Exercise Price, in addition to those
      required by this Section (f), as it shall determine, in its sole discretion,
      to
      be advisable in order that any dividend or distribution in shares of Common
      Stock, or any subdivision, reclassification or combination of Common Stock,
      hereafter made by the Company shall not result in any Federal income tax
      liability to the holders of Common Stock or securities convertible into Common
      or Preferred Stock (including Warrants).

    

    (9) Whenever
      the Exercise Price is adjusted, as herein provided, the Company shall promptly
      but no later than 20 days after any request for such an adjustment by the
      Holder, cause a notice setting forth the adjusted Exercise Price and adjusted
      number of Shares issuable upon exercise of each Warrant, and, if requested,
      information describing the transactions giving rise to such adjustments, to
      be
      mailed to the Holder at his last address appearing in the Warrant Register,
      and
      shall cause a certified copy thereof to be mailed to its transfer agent, if
      any.
      The Company may retain a firm of independent certified public accountants
      selected by the Board of Directors (who may be the regular accountants employed
      by the Company) to make any computation required by this Section (f), and a
      certificate signed by such firm shall be conclusive evidence of the correctness
      of such adjustment.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    (10) In
      the
      event that at any time, as a result of an adjustment made pursuant to Subsection
      (1) above, the Holder of this Warrant thereafter shall become entitled to
      receive any shares of the Company, other than Preferred Stock, thereafter the
      number of such other shares so receivable upon exercise of this Warrant shall
      be
      subject to adjustment from time to time in a manner and on terms as nearly
      equivalent as practicable to the provisions with respect to the Preferred Stock
      contained in Subsections (1) to (8), inclusive above.

    

    (11) Irrespective
      of any adjustments in the Exercise Price or the number or kind of shares
      purchasable upon exercise of this Warrant, Warrants theretofore or thereafter
      issued may continue to express the same price and number and kind of shares
      as
      are stated in the similar Warrants initially issuable pursuant to this
      Agreement.

    

    (g) OFFICER’S
      CERTIFICATE.
      Whenever the Exercise Price shall be adjusted as required by the provisions
      of
      the foregoing Section, the Company shall forthwith file in the custody of its
      Secretary or an Assistant Secretary at its principal office an officer’s
      certificate showing the adjusted Exercise Price determined as herein provided,
      setting forth in reasonable detail the facts requiring such adjustment,
      including a statement of the number of additional shares of Preferred Stock,
      if
      any, and such other facts as shall be necessary to show the reason for and
      the
      manner of computing such adjustment. Each such officer’s certificate shall be
      made available at all reasonable times for inspection by the Holder or any
      holder of a Warrant executed and delivered pursuant to Section (a) and the
      Company shall, forthwith after each such adjustment, mail a copy by certified
      mail of such certificate to the Holder or any such holder. 

    

    NOTICES
      TO WARRANT HOLDERS.
      So long
      as this Warrant shall be outstanding, (i) if the Company shall pay any dividend
      or make any distribution upon the Common Stock or the Preferred Stock or (ii)
      if
      the Company shall offer to the holders of Common Stock or the Preferred Stock
      for subscription or purchase by them any share of any class or any other rights
      or (iii) if any capital reorganization of the Company, reclassification of
      the
      capital stock of the Company, consolidation or merger of the Company with or
      into another corporation, sale, lease or transfer of all or substantially all
      of
      the property and assets of the Company to another corporation, or voluntary
      or
      involuntary dissolution, liquidation or winding up of the Company shall be
      effected, then in any such case, the Company shall cause to be mailed by
      certified mail to the Holder, at least fifteen days prior to the date specified
      in (x) or (y) below, as the case may be, a notice containing a brief description
      of the proposed action and stating the date on which (x) a record is to be
      taken
      for the purpose of such dividend, distribution or rights, or (y) such
      reclassification, reorganization, consolidation, merger, conveyance, lease,
      dissolution, liquidation or winding up is to take place and the date, if any
      is
      to be fixed, as of which the holders of Common Stock or the Preferred Stock
      or
      other securities shall receive cash or other property deliverable upon such
      reclassification, reorganization, consolidation, merger, conveyance,
      dissolution, liquidation or winding up. 

    

    (i) RECLASSIFICATION,
      REORGANIZATION OR MERGER.
      In case
      of any reclassification, capital reorganization or other change of outstanding
      shares of Preferred Stock of the Company, or in case of any consolidation or
      merger of the Company with or into another corporation (other than a merger
      with
      a subsidiary in which merger the Company is the continuing corporation and
      which
      does not result in any reclassification, capital reorganization or other change
      of outstanding shares of Preferred Stock of the class issuable upon exercise
      of
      this Warrant) or in case of any sale, lease or conveyance to another corporation
      of the property of the Company as an entirety, the Company shall, as a condition
      precedent to such transaction, cause effective provisions to be made so that
      the
      Holder shall have the right thereafter by exercising this Warrant at any time
      prior to the expiration of the Warrant, to purchase the kind and amount of
      shares of stock and other securities and property receivable upon such
      reclassification, capital reorganization and other change, consolidation,
      merger, sale or conveyance by a holder of the number of shares of Preferred
      Stock which might have been purchased upon exercise of this Warrant immediately
      prior to such reclassification, change, consolidation, merger, sale or
      conveyance. Any such provision shall include provision for adjustments which
      shall be as nearly equivalent as may be practicable to the adjustments provided
      for in this Warrant. The foregoing provisions of this Section (i) shall
      similarly apply to successive reclassifications, capital reorganizations and
      changes of shares of Preferred Stock and to successive consolidations, mergers,
      sales or conveyances. In the event that in connection with any such capital
      reorganization or reclassification, consolidation, merger, sale or conveyance,
      additional shares of Preferred Stock shall be issued in exchange, conversion,
      substitution or payment, in whole or in part, for a security of the Company
      other than Preferred Stock, any such issue shall be treated as an issue of
      Preferred Stock covered by the provisions of Subsection (1) of Section (f)
      hereof. 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    (j) REGISTRATION
      UNDER THE SECURITIES ACT OF 1933.
      Until
      the expiry date of this Warrant, the provisions of the Registration Rights
      Agreement dated as of even date herewith between the Holder of the Warrants
      and
      the Company shall apply to registration of the Warrant Shares. The Company’s
      agreements with respect to Warrants or Warrant Shares in such Registration
      Rights Agreement shall continue in effect regardless of the exercise and
      surrender of this Warrant.

    

    RESTRICTIVE
      LEGEND.
      Each
      Warrant Share, when issued, shall include a legend in substantially the
      following form: THESE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT
      OF 1933 (THE “ACT”) NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED,
      SOLD, ASSIGNED OR OTHERWISE TRANSFERRED UNTIL A (1) REGISTRATION STATEMENT
      UNDER
      THE ACT AND ANY APPLICABLE STATE SECURITIES LAW HAS BECOME EFFECTIVE WITH
      RESPECT THERETO, OR (2) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL TO
      THE
      COMPANY TO THE EFFECT THAT REGISTRATION UNDER THE ACT OR APPLICABLE STATE
      SECURITIES LAW IS NOT REQUIRED IN CONNECTION WITH THE PROPOSED
      TRANSFER.

    

    The
      Company will not, by amendment of its charter or through reorganization,
      consolidation, merger, dissolution, sale of assets 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 action as may be necessary
      or
      appropriate in order to protect the rights of the Holder of this Warrant against
      impairment.

    Dated:
      June __2007

    

    SPECTRASCIENCE,
      INC.

    

    Attest:

    
      	 	 	 	 	 
	
              By:
                Name:

            	 	
              Name:
                Title: Secretary

            	 	
              Title:
                Chairman and
                CEO

            

    

           

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    PURCHASE
      FORM

     

    Dated
      _____________ 20__

    

    The
      undersigned hereby irrevocably elects to exercise the within Warrant to the
      extent of purchasing ___________ shares of Preferred Stock and hereby
      makes payment of ___________ in payment of the actual exercise price
      thereof.

    

    INSTRUCTIONS
      FOR REGISTRATION OF STOCK

    

    Name
      ___________________________________________________________

    (Please
      typewrite or print in block letters)

    Address
      _________________________________________________________

    Signature
      __________________________________________________

    

    ASSIGNMENT
      FORM

     

    FOR
      VALUE
      RECEIVED, ________________________________ hereby sells, assigns and transfers
      unto

    

    Name
      ____________________________________________________________

    (Please
      typewrite or print in block letters)

    

    Address
      __________________________________________________________

    

    the
      right
      to purchase Preferred Stock represented by this Warrant to the extent of _______
      shares as to which such right is exercisable and does hereby irrevocably
      constitute and appoint ________________ Attorney, to transfer the same on the
      books of the Company with full power of substitution in the
      premises.

     

    Date
      ______________, 20__

    

    Signature
      __________________________

     

    
      
        
        

      

      
        7

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