Document:

<PAGE>

                                                                   EXHIBIT 10.71

                          SECURITIES PURCHASE AGREEMENT

The undersigned investor (the "INVESTOR") hereby confirms Investor's agreement
with Arcadia Resources, Inc. ("Arcadia" or the "Company") as follows:

1. This Securities Purchase Agreement is made as of the date set forth below
between the Company and the Investor.

2. The Company has authorized the sale and issuance of ________________ shares
(the "SHARES") of the common stock of the Company, $0.001 par value per share
(the "COMMON STOCK"), to the Investor in a private placement (the "OFFERING").

3. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor
_____________________ Shares at a purchase price of $1.19 per Share, for an
aggregate purchase price of $________________________ (the "PURCHASE PRICE"),
subject to the Terms and Conditions for Purchase of Shares attached hereto as
Annex I and incorporated herein by reference as if fully set forth herein.
Unless otherwise requested by the Investor in Exhibit "A", certificates
representing the Shares purchased by the Investor will be registered in the
Investor's name and address as set forth below.

4. The Investor shall receive a warrant (the "WARRANT") to purchase ____________
shares of Common Stock (the "WARRANT SHARES") exercisable for seven (7) years
from the Closing Date (as defined herein) at a price of $1.75 per share. The
Warrant shall be in the form attached as Exhibit "C" hereto.

5. The Investor represents that, except as set forth below, (a) it has had no
position, office or other material relationship within the past three (3) years
with the Company or its affiliates, (b) neither it, nor any group of which it is
a member or to which it is related, beneficially owns (including the right to
acquire or vote) any securities of the Company, (c) neither it, nor any group of
which it is a member or to which it is related, acquired, directly or
indirectly, any securities of the Company in a certain private placement
transaction that closed on December 28, 2006, and (d) it has no direct or
indirect affiliation or association with any National Association of Securities
Dealers, Inc. ("NASD") member. Exceptions:

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
  (If no exceptions, write "none." If left blank, response will be deemed to be
                                    "none.")

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

Dated as of: May ___, 2007

                                        [INVESTOR NAME]

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

                                        Address:
                                                 -------------------------------

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

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

AGREED AND ACCEPTED:

Arcadia Resources, Inc.

By:
    ---------------------------------
Name: John E. Elliott, II
Title: Chairman, President and CEO

                 [SECURITIES PURCHASE AGREEMENT SIGNATURE PAGE]

                                        2

<PAGE>

                                     ANNEX I

                   TERMS AND CONDITIONS FOR PURCHASE OF SHARES

     1. AGREEMENT TO SELL AND PURCHASE THE SHARES; SUBSCRIPTION DATE.

          1.1 PURCHASE AND SALE. At the Closing (as defined in Section 2), the
Company will sell to the Investor, and the Investor will purchase from the
Company, upon the terms and subject to the conditions set forth herein, and at
the Purchase Price, the number of Shares and the Warrant (collectively, with the
Warrant Shares, the "SECURITIES") described in paragraphs 3 and 4 of the
Securities Purchase Agreement attached hereto (collectively with this Annex I
and the other exhibits attached hereto, this "AGREEMENT"). The Registration
Rights Agreement and the Securities Purchase Agreement executed by the Investor
are sometimes collectively referred to herein as the "AGREEMENTS." The Investor
must execute and deliver the Securities Purchase Agreement and the Registration
Rights Agreement and must complete the Stock Certificate Questionnaire (in the
form attached as Exhibit "A" hereto) and the Investor Questionnaire (in the form
attached as Exhibit "B" hereto) in order to purchase the Securities.

          1.2 PLACEMENT AGENT FEE. The Investor acknowledges that the Company
intends to pay to Sandgrain Securities, Inc. (in its capacity as placement agent
for the Shares, the "PLACEMENT AGENT") a fee in respect of the sale of the
Shares and the Warrant to the Investor from the proceeds of the Offering.

     2. DELIVERY OF THE SHARES AT CLOSING. The completion of the purchase and
sale of the Shares (the "CLOSING") shall occur on a date specified by the
Company and the Placement Agent that is anticipated to be May __, 2007 (the
"CLOSING DATE"), but which date shall not be later than May __, 2007 (the
"OUTSIDE DATE"), and of which the Investor will be notified in advance by the
Placement Agent. At the Closing or upon AMEX listing approval of the Shares,
whichever is later, the Company shall deliver to the Investor (i) one or more
stock certificates representing the number of Shares set forth in paragraph 3 of
the Stock Purchase Agreement, and (ii) a Warrant pursuant to which such Investor
shall have the right to acquire the number of Warrant Shares set forth in
paragraph 4 of the Securities Purchase Agreement, each such certificate to be
registered in the name of the Investor or, if so indicated on the Stock
Certificate Questionnaire, in the name of a nominee designated by the Investor,
together with the Warrant. In exchange for the delivery of the subscription
agreements, the Investor shall deliver at Closing the Purchase Price directly to
the Company by wire transfer of immediately available funds pursuant to written
instructions.

     The Company's obligation to issue and sell the Shares and Warrant to the
Investor shall be subject to the following conditions, any one or more of which
may be waived in writing by the Company: (a) prior receipt by the Company of an
executed copy of this Securities Purchase Agreement; (b) the accuracy of the
representations and warranties made by the Investor in this Agreement and the
fulfillment of the obligations of the Investor to be fulfilled by it under this
Agreement on or prior to the Closing; (c) the Company is satisfied that the
issuance of the Securities will not be in violation of applicable AMEX listing
qualification rules; and (d) the absence of any order, writ, injunction,
judgment or decree that questions the validity of the Agreements or the right of
the Company or the Investor to enter into such Agreements or to consummate the
transactions contemplated hereby and thereby.

     The Investor's obligation to purchase the Shares and Warrant shall be
subject to the following conditions, any one or more of which may be waived in
writing by the Investor: (a) the accuracy of the representations and warranties
made by the Company in this Agreement on the Closing Date; (b) the execution and
delivery by the Company of the Registration Rights Agreement; and (c) the
absence of any order, writ, injunction, judgment or decree that questions the
validity of the Agreements or the right of the

                                       I-1

<PAGE>

Company or the Investor to enter into such Agreements or to consummate the
transactions contemplated hereby and thereby.

     In the event that the Closing does not occur on or before the Outside Date
as a result of the Company's failure to satisfy any of the conditions set forth
above (and such condition has not been waived by the Investor), the Company
shall return any and all funds paid hereunder to the Investor no later than one
Business Day following the Outside Date and the Investors shall have no further
obligations hereunder. For purposes of this Agreement, "BUSINESS DAY" shall mean
any day other than a Saturday, Sunday or other day on which the American Stock
Exchange is permitted or required by law to close.

     3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. Except as
otherwise described in the Company's Annual Report on Form 10-K for the year
ended March 31, 2006 (and any amendments thereto filed at least one (1) Business
Day prior to the Closing Date), the Company's S-1 Registration Statement
effective July 18, 2006, the Company's most recent Quarterly Report on Form 10-Q
for the quarter ended December 31, 2006, the Company's Proxy Statement for its
2006 Annual Meeting of Shareholders, and any of the Company's Current Reports on
Form 8-K filed since March 31, 2006 (and any amendments thereto filed at least
one (1) Business Days prior to the Closing Date), together with all other
documents filed by the Company with the U.S. Securities and Exchange Commission
(all collectively, the "SEC REPORTS"), or as otherwise known or available to the
Investor, the Company hereby represents and warrants to, and covenants with, the
Investor as of the date hereof and the Closing Date, as follows:

          3.1 ORGANIZATION. The Company is duly incorporated and validly
existing in good standing under the laws of the State of Nevada. The Company has
full power and authority to own, operate and occupy its properties and to
conduct its business as presently conducted and is registered or qualified to do
business and in good standing in each jurisdiction in which it owns property or
transacts business and where the failure to be so qualified would have a
material adverse effect upon the Company and its subsidiaries as a whole or the
business, financial condition, properties, operations or assets of the Company
and its subsidiaries as a whole or the Company's ability to perform its
obligations under the Agreements in all material respects ("MATERIAL ADVERSE
EFFECT"), and no proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing, or seeking to revoke, limit or curtail, such
power and authority or qualification.

          3.2 DUE AUTHORIZATION. The Agreements have been validly executed and
delivered by the Company and constitute legal, valid and binding agreements of
the Company enforceable against the Company in accordance with their terms,
except to the extent (i) rights to indemnity and contribution may be limited by
state or federal securities laws or the public policy underlying such laws, (ii)
such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors' and contracting
parties' rights generally and (iii) such enforceability may be subject to
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law).

          3.3 NO CONFLICT OR DEFAULT. The execution and delivery of the
Agreements, the issuance and sale of the Shares to be sold by the Company under
the Agreements, the fulfillment of the terms of the Agreements and the
consummation of the transactions contemplated thereby will not: (A) result in a
conflict with or constitute a material violation of, or material default (with
the passage of time or otherwise) under, (i) any bond, debenture, note, loan
agreement or other evidence of indebtedness, or any material lease, or contract
to which the Company is a party or by which the Company or their respective
properties are bound, (ii) the Certificate of Incorporation, by-laws or other
organizational documents of the Company, as amended, or (iii) any law,
administrative regulation, or existing order of

                                       I-2

<PAGE>

any court or governmental agency, or other authority binding upon the Company or
the Company's respective properties; or, (B) result in the creation or
imposition of any lien, encumbrance, claim, or security interest upon any of the
material assets of the Company or an acceleration of indebtedness pursuant to
any obligation, agreement or condition contained in any material bond,
debenture, note or any other evidence of indebtedness or any material indenture,
mortgage, deed of trust or any other agreement or instrument to which the
Company is a party or by which it is bound or to which any of the property or
assets of the Company is subject, that would have a Material Adverse Effect.
Except for AMEX listing approval of the Shares, no consent, approval,
authorization or other order of, or registration, qualification or filing with,
any regulatory body, administrative agency, or other governmental body is
required for the execution and delivery of the Agreements by the Company and the
valid issuance or sale of the Shares by the Company pursuant to the Agreements,
other than such as have been made or obtained, and except for any filings
required to be made under federal or state securities laws.

          3.4 CAPITALIZATION. The outstanding capital stock of the Company is as
described in the Company's Quarterly Report on Form 10-Q for the three month
period ending December 31, 2006. Except as described in the SEC Reports, since
December 31, 2006, the Company has not issued any capital stock, other than
pursuant to the purchase of shares under the Company's employee stock option
plan, the exercise of outstanding warrants or stock options, or pursuant to
other agreements. The Shares, the Warrant and the Warrant Shares to be sold
pursuant to the Agreements have been duly authorized, and when issued and paid
for in accordance with the terms of the Agreements, will be duly and validly
issued, fully paid and nonassessable, subject to no lien, claim or encumbrance
(except for any such lien, claim or encumbrance created, directly or indirectly,
by the Investor). The outstanding shares of capital stock of the Company have
been duly and validly issued, are fully paid and nonassessable, and have been
issued in compliance with the registration requirements of federal and state
securities laws. Except as otherwise stated in the SEC Reports, the Company owns
one hundred percent of all of the outstanding capital stock of each of its
subsidiaries, free and clear of all liens, claims and encumbrances, except for
Care Clinic, Inc. as to which the Company owns 85% of the outstanding capital
stock. There are not (i) any outstanding preemptive rights except as described
in the SEC Reports, or (ii) any rights, warrants or options to acquire, or
instruments convertible into or exchangeable for, any unissued shares of capital
stock or other equity interest in the Company not disclosed in the SEC Reports,
or (iii) any contract or agreement to which the Company is a party that would
provide for the issuance or sale of any capital stock of the Company, any such
convertible or exchangeable securities or any such rights, warrants or options
not disclosed in the SEC Reports. There are no shareholders agreements, voting
agreements or other similar agreements with respect to the Common Stock to which
the Company is a party, other than as described in SEC Reports.

          3.5 LEGAL PROCEEDINGS. There is no material legal or governmental
proceeding pending, or to the actual knowledge of the Company, threatened, to
which the Company is a party or of which the business or property of the Company
is subject that is required to be disclosed and that is not so disclosed in the
SEC Reports. Other than the information disclosed in the SEC Reports, the
Company is not subject to any injunction, judgment, decree or order of any
court, regulatory body, administrative agency or other government body.

          3.6 NO VIOLATIONS. The Company is not in violation of its Certificate
of Incorporation, bylaws or other organizational documents, as amended, that is
reasonably likely to have a Material Adverse Effect. The Company is not in
violation of any law, administrative regulation, ordinance or order of any court
or governmental agency, arbitration panel or authority applicable to the
Company, which violation, individually or in the aggregate, is reasonably likely
to have a Material Adverse Effect. The Company is not in default (and there
exists no condition which, with the passage of time or otherwise, would
constitute a default) in the performance of any bond, debenture, note or any
other evidence of indebtedness or any indenture, mortgage, deed of trust or any
other material agreement

                                       I-3

<PAGE>

or instrument to which the Company is a party or by which the Company is bound,
which such default is reasonably likely to have a Material Adverse Effect upon
the Company.

          3.7 GOVERNMENTAL PERMITS, ETC. The Company has all necessary
franchises, licenses, certificates and other authorizations from any foreign,
federal, state or local government or governmental agency, department or body
that are currently necessary for the operation of the business of the Company as
currently conducted, except where the failure to currently possess such
franchises, licenses, certificates and other authorizations is not reasonably
likely to have a Material Adverse Effect.

          3.8 INTELLECTUAL PROPERTY.

               (A) Except for matters which are not reasonably likely to have a
Material Adverse Effect, (i) each of the Company has ownership of, or a license
or other legal right to use, all patents, copyrights, trade secrets, trademarks,
customer lists, designs, manufacturing or other processes, computer software,
systems, data compilation, research results or other proprietary rights used in
the business of the Company (collectively, "INTELLECTUAL PROPERTY") and (ii) all
of the Intellectual Property owned by the Company consisting of patents,
registered trademarks and registered copyrights have been duly registered in,
filed in or issued by the United States Patent and Trademark Office, the United
States Register of Copyrights or the corresponding offices of other
jurisdictions and have been maintained and renewed in accordance with all
applicable provisions of law and administrative regulations in the United States
and/or such other jurisdictions.

               (B) Except for matters which are not reasonably likely to have a
Material Adverse Effect, all material licenses or other material agreements
under which (i) the Company employs rights in Intellectual Property, or (ii) the
Company has granted rights to others in Intellectual Property owned or licensed
by the Company are in full force and effect, and there is no default by the
Company with respect thereto.

               (C) The Company believes that it has taken all steps reasonably
required in accordance with sound business practice and business judgment to
establish and preserve the ownership of the Company's material Intellectual
Property.

               (D) Except for matters which are not reasonably likely to have a
Material Adverse Effect, to the actual knowledge of the Company, (i) the present
business, activities and products of the Company do not infringe any
intellectual property of any other person; (ii) neither the Company is making
unauthorized use of any confidential information or trade secrets of any person;
and (iii) the activities of any of the employees of the Company, acting on
behalf of the Company, do not materially violate any agreements or arrangements
related to confidential information or trade secrets of third parties.

               (E) Except for matters which are not reasonably likely to have a
Material Adverse Effect, and except as disclosed in the SEC Reports, no
proceedings are pending, or to the knowledge of the Company, threatened, which
challenge the rights of the Company to the use the Company's Intellectual
Property.

          3.9 FINANCIAL STATEMENTS. The financial statements of the Company and
the related notes contained in the SEC Reports present fairly in all material
respects the financial position of the Company as of the dates therein
indicated, and the results of its operations, cash flows and the changes in
shareholders' equity for the periods therein specified, subject, in the case of
unaudited financial statements for interim periods, to normal year-end audit
adjustments. Such financial statements (including the related notes) have been
prepared in accordance with generally accepted accounting

                                       I-4

<PAGE>

principles applied on a consistent basis at the times and throughout the periods
therein specified, except that unaudited financial statements may not contain
all footnotes required by generally accepted accounting principles.

          3.10 NO MATERIAL ADVERSE CHANGE. Except as disclosed in the SEC
Reports or in any press releases issued by the Company at least one (1) Business
Day prior to the Closing Date, there has not been (i) an event, circumstance or
change that has had or is reasonably likely to have a Material Adverse Effect
upon the Company, (ii) any obligation incurred by the Company that is material
to the Company, (iii) any dividend or distribution of any kind declared, paid or
made on the capital stock of the Company, or (iv) any loss or damage (whether or
not insured) to the physical property of the Company which has had a Material
Adverse Effect.

          3.11 AMEX COMPLIANCE. The Company's Common Stock is registered
pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended
(the "EXCHANGE ACT"), and is listed on the American Stock Exchange ("AMEX"), and
the Company has taken no action intended to, or which to its actual knowledge
could have the effect of, terminating the registration of the Common Stock under
the Exchange Act or delisting the Common Stock from AMEX. The Company shall
comply with all requirements with respect to the issuance of the Shares and
Warrant Shares, and the listing thereof on AMEX. No later than one (1) business
day after the Closing Date, the Company shall file with AMEX an application to
list the Shares and the Warrant Shares on AMEX.

          3.12 REPORTING STATUS. The Company has timely made all filings
required under the Exchange Act during the twelve (12) months preceding the date
of this Agreement, and all of those documents complied in all material respects
with the SEC's requirements as of their respective filing dates, and the
information contained therein as of the respective dates thereof did not contain
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein in light of the
circumstances under which they were made not misleading. The Company is
currently eligible to register the resale of the Securities by the Investor
pursuant to a registration statement on Form S-3 under the Securities Act or on
such other form as may be available to the Company (the "REGISTRATION
STATEMENT").

          3.13 CONTRACTS. Except for matters which are not reasonably likely to
have a Material Adverse Effect and those contracts that are substantially or
fully performed or expired by their terms, the contracts listed as exhibits to
or described in the SEC Reports that are material to the Company and all
amendments thereto, are in full force and effect on the date hereof, and neither
the Company nor, to the Company's actual knowledge, any other party to such
contracts is in material breach of or default under any of such contracts.

          3.14 TAXES. Except for tax matters which are not reasonably likely to
have a Material Adverse Effect, each of the Company and each of its Subsidiaries
has filed all necessary federal, state and foreign income and franchise tax
returns and has paid or accrued all taxes shown as due thereon.

          3.15 TRANSFER TAXES. On the Closing Date, all stock transfer or other
taxes (other than income taxes) which are required to be paid in connection with
the sale and transfer of the Shares hereunder will be, or will have been, fully
paid or provided for by the Company and the Company will have complied with all
laws imposing such taxes.

          3.16 INVESTMENT COMPANY. The Company is not an "investment company" or
an "affiliated person" of, or "promoter" or "principal underwriter" for an
investment company, within the meaning of the Investment Company Act of 1940, as
amended, and will not be deemed an "investment company" as a result of the
transactions contemplated by this Agreement.

                                       I-5

<PAGE>

          3.17 INSURANCE. The Company maintains insurance of the types and in
the amounts that the Company reasonably believes is adequate for its businesses,
including, but not limited to, insurance covering real and personal property
owned or leased by the Company against theft, damage, destruction, acts of
vandalism and all other risks customarily insured against by similarly situated
companies, all of which insurance is in full force and effect.

          3.18 BOOKS AND RECORDS. The books, records and accounts of the Company
accurately and fairly reflect, in reasonable detail, the transactions in, and
dispositions of, the assets of, and the operations of, the Company.

          3.19 SECURITIES LAW REPRESENTATION PRIVATE PLACEMENT. Assuming the
accuracy of the representations of the Investor, no consent, authorization,
approval, permit or order of or filing with any governmental or regulatory
authority is required under current laws and regulations in connection with the
execution and delivery of this Agreement or the offer, issuance, sale or
delivery of the Shares, the Warrant and the Warrant Shares, other than the
qualification thereof, if required, under applicable AMEX rules and state
securities law, which qualification has been or will be effected as a condition
of these sales and the filing of a Form D with the Securities and Exchange
Commission (the "SEC") in connection with the transaction contemplated by this
Agreement. Under the circumstances contemplated by this Agreement, the offer,
issuance, sale and delivery of the Shares will not, under current laws and
regulations, require compliance with the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act").

     4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR.

          4.1 INVESTOR KNOWLEDGE AND STATUS. The Investor represents and
warrants to, and covenants with, the Company that: (i) the Investor is an
"accredited investor" as defined in Regulation D under the Securities Act, is
knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in securities presenting an investment
decision similar to that involved in the purchase of the Securities, and has
requested, received, reviewed and considered all information it deemed relevant
in making an informed decision to purchase the Securities; (ii) the Investor
understands that the Securities are "restricted securities" and have not been
registered under the Securities Act and is acquiring the number of Securities
set forth in paragraph 3 of the Securities Purchase Agreement in the ordinary
course of its business and for its own account for investment only, has no
present intention of distributing any of such Securities and has no arrangement
or understanding with any other persons regarding the distribution of such
Securities (this representation and warranty not limiting the Investor's right
to sell Securities pursuant to a Registration Statement filed under the
Registration Rights Agreement or otherwise, or other than with respect to any
claim arising out of a breach of this representation and warranty, the
Investor's right to indemnification under Section 3 of the Registration Rights
Agreement); (iii) the Investor will not, directly or indirectly, offer, sell,
pledge, transfer or otherwise dispose of (or solicit any offers to buy, purchase
or otherwise acquire or take a pledge of) any of the Securities except in
compliance with the Securities Act, applicable state securities laws and the
respective rules and regulations promulgated thereunder; (iv) the Investor has
answered all questions in paragraph 4 of the Securities Purchase Agreement and
the Investor Questionnaire attached hereto as Exhibit B for use in preparation
of the Registration Statement and the answers thereto are true and correct as of
the date hereof and will be true and correct as of the Closing Date; (v) the
Investor will notify the Company promptly of any change in any of such
information until such time as the Investor has sold all of its Securities or
until the Company is no longer required to keep the Registration Statement
effective; and (vi) the Investor has, in connection with its decision to
purchase the number of Securities set forth in paragraph 3 of the Securities
Purchase Agreement, relied upon the representations and warranties of the
Company contained herein and the information contained in the SEC Reports. The
Investor understands that the issuance of the Securities to the Investor has not
been registered under the Securities Act, or

                                       I-6

<PAGE>

registered or qualified under any state securities law, in reliance on specific
exemptions therefrom, which exemptions may depend upon, among other things, the
representations made by the Investor in this Agreement. No person (including
without limitation the Placement Agent) is authorized by the Company to provide
any representation that is inconsistent with or in addition to those contained
herein or in the SEC Reports, and the Investor acknowledges that it has not
received or relied on any such representations.

          4.2 TRANSFER OF SECURITIES. The Investor agrees that it will not make
any sale, transfer or other disposition of the Securities (a "DISPOSITION")
other than Dispositions that are made pursuant to the Registration Statement in
compliance with any applicable prospectus delivery requirements or that are
exempt from registration under the Securities Act. Investor has not taken and
will not take any action designed to or that might reasonably be expected to
cause or result in manipulation of the price of the Common Stock to facilitate
the subscription to, or the sale or resale of the Securities.

          4.3 POWER AND AUTHORITY. The Investor represents and warrants to the
Company that (i) the Investor has full right, power, authority and capacity to
enter into this Agreement and to consummate the transactions contemplated hereby
and has taken all necessary action to authorize the execution, delivery and
performance of this Agreement, and (ii) this Agreement constitutes a valid and
binding obligation of the Investor enforceable against the Investor in
accordance with its terms, except to the extent (i) rights to indemnity and
contribution may be limited by state or federal securities laws or the public
policy underlying such laws, (ii) such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

          4.4 NO SHORT POSITION. During the last thirty (30) days prior to the
date hereof, Investor nor any affiliate of Investor, foreign or domestic, has,
directly or indirectly, effected or agreed to effect any "short sale" (as
defined in Rule 200 under Regulation SHO), whether or not against the box,
established any "put equivalent position" (as defined in Rule 16a-1(h) under the
1934 Act) with respect to the Company's common stock, borrowed or pre-borrowed
any shares of the Company's common stock, or granted any other right (including,
without limitation, any put or call option) with respect to the Company's common
stock or with respect to any security that includes, relates to or derived any
significant part of its value from the Company's common stock or otherwise
sought to hedge its position in the Shares, Warrants and Warrant Shares (each, a
"Prohibited Transaction"). Prior to the earliest to occur of (i) the termination
of the Offering, (ii) the date the Registration Statement (defined below) is
declared effective by the Securities and Exchange Commission (the "SEC") or
(iii) the Required Effective Date defined in the Registration Rights Agreement,
Investor shall not, and shall cause its affiliates not to, engage, directly or
indirectly, in (a) a Prohibited Transaction nor (b) any sale, assignment,
pledge, hypothecation, put, call, or other transfer of any of the Shares, or
Warrants or other securities of the Company acquired hereunder.

          4.5 NO INVESTMENT, TAX OR LEGAL ADVICE. The Investor understands that
nothing in the SEC Reports, this Agreement, or any other materials presented to
the Investor in connection with the purchase and sale of the Securities
constitutes legal, tax or investment advice. The Investor has consulted such
legal, tax and investment advisors as it, in its sole discretion, has deemed
necessary or appropriate in connection with its purchase of Securities.

          4.6 CONFIDENTIAL INFORMATION. The Investor covenants that from the
date hereof it will maintain in confidence all material non-public information
regarding the Company received by the Investor from the Company, including the
receipt and content of any Suspension Notice (as defined in the Registration
Rights Agreement) until such information (a) becomes generally publicly
available other

                                       I-7

<PAGE>

than through a violation of this provision by the Investor or its agents or (b)
is required to be disclosed in legal proceedings (such as by deposition,
interrogatory, request for documents, subpoena, civil investigation demand,
filing with any governmental authority or similar process); provided, however,
that before making any disclosure in reliance on this Section 4.6, the Investor
will give the Company at least fifteen (15) days prior written notice (or such
shorter period as required by law) specifying the circumstances giving rise
thereto and will furnish only that portion of the non-public information which
is legally required and will exercise its commercially reasonable efforts to
ensure that confidential treatment will be accorded any non-public information
so furnished.

          4.7 ADDITIONAL ACKNOWLEDGEMENT. Investor has thoroughly reviewed the
SEC Reports, together with such additional information concerning the Company
known to or available to Investor, prior to making this investment. Investor has
been granted a reasonable time prior to the date hereof during which Investor
have had the opportunity to obtain such additional information as Investor deems
necessary to permit Investor to make an informed decision with respect to the
purchase of the Common Stock. After examination of the SEC Reports and other
information available, Investor is fully aware of the business prospects,
financial condition, risks associated with investment and the operating history
relating to the Company, and therefore in subscribing for the purchase of the
Securities, Investor is not relying upon any information other than information
contained in the SEC Reports or available to Investor. Investor acknowledges
that it has independently evaluated the merits of the transactions contemplated
by this Agreement, that it has independently determined to enter into the
transactions contemplated hereby. Investor acknowledges that the issuance of the
Shares is contingent on AMEX listing approval.

          4.8 ACKNOWLEDGMENTS REGARDING PLACEMENT AGENT. The Investor
acknowledges that the Placement Agent has acted solely as placement agent for
the Company in connection with the Offering of the Securities by the Company,
and that the Placement Agent has made no representation or warranty whatsoever
with respect to the accuracy or completeness of information, data or other
related disclosure material that has been provided to the Investor. The Investor
further acknowledges that in making its decision to enter into this Agreement
and purchase the Securities, it has relied on its own examination of the Company
and the terms of, and consequences of holding, the Securities. The Investor
further acknowledges that the provisions of this Section 4.7 are for the benefit
of, and may be enforced by, the Placement Agent.

          4.9 NO GENERAL SOLICITATION. Investor is not purchasing the Securities
as a result of any advertisement, article, notice or other communication
regarding the Securities published in any newspaper, magazine or similar media
or broadcast over television or radio or presented at any seminar or any other
general solicitation or general advertisement.

          4.10 RELIANCE ON EXEMPTIONS. Investor acknowledges that the Securities
are being offered and sold to it by the Company in reliance on specific
exemptions from the registration requirements of the Securities Act of 1933, as
amended, and applicable state securities laws and that the Company is relying on
the truth and accuracy of, and Investor's compliance with, the representations,
covenants, warranties, agreements, acknowledgments and understandings of
Investor set forth herein in order to determine the availability of such
exemptions and the eligibility of Investor to acquire the Securities.

          4.11 OTHER. Purchaser agrees to the imprinting, subject to the terms
of this Agreement, of a legend on each certificate evidencing the Securities in
substantially the following form:

          THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
     REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE LAW.
     THE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT

                                       I-8

<PAGE>

     AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
     REGISTRATION STATEMENT FOR THESE SHARES UNDER THE SECURITIES ACT OF 1933
     AND APPLICABLE STATE LAW OR AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO
     THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER THE ACT.

     The legend set forth above shall be removed and the Company shall issue a
certificate without such legend to the holder of the Shares upon which it is
stamped or issue to such holder by electronic delivery at the applicable balance
account at DTC, if (i) such Shares are sold or transferred pursuant to an
effective Registration Statement or Rule 144 (assuming the transferor is not an
Affiliate of the Company), or (ii) such Shares are eligible for sale under Rule
144(k). Any fees associated with the removal of such legend, including the
Company's reasonable processing fee and any expenses incurred by Investor to
acquire an opinion of counsel, shall be borne by the Investor. If, following the
Effective Date, a legend is no longer required hereunder for certain Shares, the
Company will no later than three (3) Trading Days following the delivery by
Investor to the Company or the Transfer Agent (with notice to the Company) of a
legended certificate representing such Shares (endorsed or with stock powers
attached, signatures guaranteed, and otherwise in form necessary to affect the
reissuance and/or transfer and an opinion of counsel), deliver or cause to be
delivered to such Purchaser a certificate representing such Shares that is free
from all restrictive and other legends.

     5. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS. Notwithstanding
any investigation made by any party to this Agreement or by the Placement Agent,
all covenants, agreements, representations and warranties made by the Company
and the Investor herein shall survive the execution of this Agreement, the
delivery to the Investor of the Securities being purchased and the payment
therefor, and a party's reliance on such representations and warranties shall
not be affected by any investigation made by such party or any information
developed thereby.

     6. REGISTRATION OF SHARES; PUBLIC STATEMENTS.

          6.1 In connection with the purchase and sale of the Shares by the
Investor contemplated hereby, the Company has entered into a Registration Rights
Agreement with the Investor providing for the filing by the Company of a
Registration Statement on Form S-3 or such other form available to the Company
to enable the resale of the Shares, the Warrants, and the Warrant Shares by the
Investors from time to time.

          6.2 The Company agrees to disclose on a Current Report on Form 8-K the
existence of the Offering and the material terms, thereof, including pricing,
within four (4) Business Days after the Closing.

     7. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to
such carrier, (iv) if delivered by facsimile, upon electric confirmation of
receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                                       I-9

<PAGE>

               (A) if to the Company, to:

                   Arcadia Resources, Inc.
                   405 5th Avenue South, Suite 6
                   Naples, FL 34102
                   Attention: Chairman and CEO
                   Telephone: (239) 434-8884
                   Fax: (239) 434-5858

                   with a copy to:

                   Kerr, Russell and Weber, PLC
                   Attention: Patrick J. Haddad, Esq.
                   500 Woodward Ave., Suite 2500
                   Detroit, MI 48226-3427
                   Telephone: (313) 961-0200
                   Fax: (313) 961-0388

               (B) if to the Investor, at its address on the signature page to
the Securities Purchase Agreement.

     8. AMENDMENTS; WAIVER. This Agreement may not be modified or amended except
pursuant to an instrument in writing signed by the Company and the Investor. Any
waiver of a provision of this Agreement must be in writing and executed by the
party against whom enforcement of such waiver is sought.

     9. HEADINGS. The headings of the various sections of this Agreement have
been inserted for convenience of reference only and shall not be deemed to be
part of this Agreement.

     10. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the entire
agreement and understanding of the parties relating to the subject matter hereof
and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

     11. GOVERNING LAW. This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of Michigan, without giving
effect to the principles of conflicts of law. Any dispute, controversy or claim
arising out of or relating to this Agreement, whether arising in contract, tort
or otherwise shall be resolved in accordance with the rules of the American
Arbitration Association, except for any equitable or injunctive relief sought
under this Agreement. The arbitration shall be held at a location within Oakland
County, Michigan. The Parties agree that any arbitration award rendered on any
claim submitted to arbitration shall be final and binding upon the Parties and
not subject to appeal and that judgment may be entered upon any arbitration
award by any circuit court located in Michigan.

     12. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

                                      I-10

<PAGE>

                                    EXHIBIT A

                         STOCK CERTIFICATE QUESTIONNAIRE

     Please provide us with the following information:

<TABLE>
<S>  <C>                                       <C>
1.   The exact name in which your Securities
     are to be registered (this is the name
     that will appear on your stock
     certificate(s)). You may use a nominee
     name if appropriate:                      _____________________

2.   If a nominee name is listed in response
     to item 1 above, the relationship
     between the Investor and such nominee:    _____________________

3.   The mailing address of the registered
     holder listed in response to item 1
     above:                                    _____________________

4.   The Social Security Number or Tax
     Identification Number of the registered
     holder listed in the response to item 1
     above:                                    _____________________
</TABLE>

                                       A-1

<PAGE>

                                    EXHIBIT B

                             INVESTOR QUESTIONNAIRE

To:  Arcadia Resources, Inc.

     The undersigned hereby acknowledges the following:

     This Investor Questionnaire ("QUESTIONNAIRE") must be completed by the
Investor in connection with the offer and sale of the shares of the common
stock, par value $0.001 per share (the "SHARES"), of Arcadia Resources, Inc.
(the "COMPANY"). The Shares are being offered and sold by the Company without
registration under the Securities Act of 1933, as amended (the "SECURITIES
ACT"), and the securities laws of certain states, in reliance on the exemptions
contained in Section 4 of the Securities Act and on Regulation D promulgated
thereunder and in reliance on similar exemptions under applicable state laws.
The Company must determine that the Investor meets certain suitability
requirements before offering or selling Shares to the Investor. The purpose of
this Questionnaire is to assure the Company that the Investor will meet the
applicable suitability requirements. The information supplied by the undersigned
will be used in determining whether the undersigned meets such criteria, and
reliance upon the private offering exemption from registration is based in part
on the information herein supplied.

     This Questionnaire does not constitute an offer to sell or a solicitation
of an offer to buy any security. The undersigned's answers will be kept strictly
confidential. However, by signing this Questionnaire the undersigned will be
authorizing the Company to provide a completed copy of this Questionnaire to
such parties as the Company deems appropriate in order to ensure that the offer
and sale of the Shares will not result in a violation of the Securities Act or
the securities laws of any state and that the undersigned otherwise satisfies
the suitability standards applicable to purchasers of the Shares. The Investors
must answer all applicable questions and complete, date and sign this
Questionnaire. The undersigned shall print or type its responses and attach
additional sheets of paper if necessary to complete its answers to any item.

A.   BACKGROUND INFORMATION

Name: __________________________________________________________________________

Business Address: ______________________________________________________________
                                         (Number and Street)
________________________________________________________________________________
(City)                          (State)                          (Zip Code)

Telephone Number: (______)______________________________________________________

Residence Address: _____________________________________________________________
                                          (Number and Street)

________________________________________________________________________________
(City)                           (State)                          (Zip Code)

Telephone Number: (______)______________________________________________________

If an individual:

Age: ______   Citizenship: __________   Where registered to vote: ______________

                                       B-1

<PAGE>

If a corporation, partnership, limited liability company, trust or other entity:

Type of entity: ________________________________________________________________

State of formation: ______________      Date of formation: _____________________

Social Security or Taxpayer Identification No. _________________________________

Send all correspondence to (check one): ______ Residence Address  ______
Business Address

B.   STATUS AS ACCREDITED INVESTOR

The undersigned is an "accredited investor" as such term is defined in
Regulation D under the Securities Act, because at the time of the sale of the
Shares the undersigned falls within one or more of the following categories
(Please initial one or more, as applicable):

_____ (1) a bank as defined in Section 3(a)(2) of the Securities Act, or a
savings and loan association or other institution as defined in Section
3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary
capacity; a broker or dealer registered pursuant to Section 15 of the Securities
Exchange Act of 1934; an insurance company as defined in Section 2(13) of the
Securities Act; an investment company registered under the Investment Company
Act of 1940 or a business development company as defined in Section 2(a)(48) of
that act; a Small Business Investment Company licensed by the U.S. Small
Business Administration under Section 301(c) or (d) of the Small Business
Investment Act of 1958; a plan established and maintained by a state, its
political subdivisions, or any agency or instrumentality of a state or its
political subdivisions for the benefit of its employees, if such plan has total
assets in excess of $5,000,000; an employee benefit plan within the meaning of
the Employee Retirement Income Security Act of 1974 if the investment decision
is made by a plan fiduciary, as defined in Section 3(21) of such act, which is
either a bank, savings and loan association, insurance company, or registered
investment adviser, or if the employee benefit plan has total assets in excess
of $5,000,000 or, if a self-directed plan, with the investment decisions made
solely by persons that are accredited investors;(1)

_____ (2) a private business development company as defined in Section
202(a)(22) of the Investment Advisers Act of 1940;

_____ (3) an organization described in Section 501(c)(3) of the Internal Revenue
Code of 1986, corporation, Massachusetts or similar business trust, or
partnership, not formed for the specific purpose of acquiring the Shares
offered, with total assets in excess of $5,000,000;

_____ (4) a natural person whose individual net worth, or joint net worth with
that person's spouse, at the time of such person's purchase of the Shares
exceeds $1,000,000;

_____ (5) a natural person who had an individual income in excess of $200,000 in
each of the two most recent years or joint income with that person's spouse in
excess of $300,000 in each of those years and has a reasonable expectation of
reaching the same income level in the current year;

----------
(1)  As used in this Questionnaire, the term "net worth" means the excess of
     total assets over total liabilities. In computing net worth for the purpose
     of subsection (4), the principal residence of the investor must be valued
     at cost, including cost of improvements, or at recently appraised value by
     a professional appraiser. In determining income, the investor should add to
     the investor's adjusted gross income any amounts attributable to tax exempt
     income received, losses claimed as a limited partner in any limited
     partnership, deductions claimed for depreciation, contributions to an IRA
     or KEOGH retirement plan, alimony payments, and any amount by which income
     from long-term capital gains has been reduced in arriving at adjusted gross
     income.

                                       B-2

<PAGE>

_____ (6) a trust, with total assets in excess of $5,000,000, not formed for the
specific purpose of acquiring the Shares offered, whose purchase is directed by
a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D; and

_____ (7) an entity in which all of the equity owners are accredited investors
(as defined above).

C.   REPRESENTATIONS

The undersigned hereby represents and warrants to the Company as follows:

     1. Any purchase of the Shares would be solely for the account of the
undersigned and not for the account of any other person or with a view to any
resale, fractionalization, division, or distribution thereof.

     2. The information contained herein is complete and accurate and may be
relied upon by the Company, and the undersigned will notify the Company
immediately of any material change in any of such information occurring prior to
the closing, if any, with respect to the purchase of Shares by the undersigned
or any co-purchaser.

     3. The undersigned acknowledges that there may occasionally be times when
the Company, based on the advice of its counsel, determines that it must suspend
the use of the Prospectus forming a part of the Registration Statement (as such
terms are defined in the Stock Purchase Agreement to which this Questionnaire is
attached) until such time as an amendment to the Registration Statement has been
filed by the Company and declared effective by the Securities and Exchange
Commission or until the Company has amended or supplemented such Prospectus. The
undersigned is aware that, in such event, the Shares will not be subject to
ready liquidation, and that any Shares purchased by the undersigned would have
to be held during such suspension. The overall commitment of the undersigned to
investments which are not readily marketable is not excessive in view of the
undersigned's net worth and financial circumstances, and any purchase of the
Shares will not cause such commitment to become excessive. The undersigned is
able to bear the economic risk of an investment in the Shares.

     4. The following is a list of all states and other jurisdictions in which
blue sky or similar clearance will be required in connection with the
undersigned's purchase of the Shares:

___________________________________________

___________________________________________

___________________________________________

The undersigned agrees to notify the Company in writing of any additional states
or other jurisdictions in which blue sky or similar clearance will be required
in connection with the undersigned's purchase of the Shares.

                                       B-3

<PAGE>

IN WITNESS WHEREOF, the undersigned has executed this Questionnaire on
________________, 20__, and declares under oath that it is truthful and correct.

                                        Print Name

                                        By:
                                            ------------------------------------
                                        Signature

                                        Title:
                                               ---------------------------------
                                        (required for any purchaser that is a
                                        corporation, partnership, trust or other
                                        entity)

                                       B-4

<PAGE>

                                    EXHIBIT C

                      FORM OF COMMON STOCK PURCHASE WARRANT<PAGE>

                                                                   EXHIBIT 10.72

                          REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the "Agreement") is made as of the date set
forth below between Arcadia Resources, Inc., a Nevada corporation (the
"COMPANY"), and ________________________________________ (the "INVESTOR"), in
conjunction with a Securities Purchase Agreement dated as of the date hereof.
Capitalized terms used and not defined herein shall have the respective meanings
ascribed to them in the Securities Purchase Agreement.

                                    RECITALS

     WHEREAS, the Company has sold to up to shares (the "SHARES") of its common
stock, $0.001 par value per share, (the "COMMON STOCK"), to the Investor in a
private placement (the "OFFERING"); and

     WHEREAS, pursuant to the terms of the Offering, the Investor has received a
warrant (the "WARRANT") to purchase shares of Common Stock (the "WARRANT
SHARES").

     WHEREAS, the execution and delivery of this Agreement by the Company is a
condition to the completion of the Offering.

          NOW, THEREFORE, the parties hereto agree as follows:

     1.   REGISTRATION PROCEDURES AND EXPENSES. The Company shall:

               (A) subject to receipt of necessary information from the
Investors, prepare and file with the Securities and Exchange Commission ("SEC"),
within sixty (60) Calendar Days after the Closing Date (the "REQUIRED FILING
DATE"), a Registration Statement on Form S-3 or such other form as is available
to the Company to enable the resale by the Investors from time to time of (i)
the Shares, (ii) the Warrant, and (iii) the Warrant Shares (collectively, the
"REGISTRABLE SECURITIES");

               (B) use its best efforts, subject to receipt of necessary
information from the Investors, to cause the Registration Statement to become
effective no later than one hundred twenty (120) Calendar Days after the
Registration Statement was filed with the SEC (the "REQUIRED EFFECTIVE DATE").
If the Registration Statement has not been filed on or before the Required
Filing Date, or has not been declared effective by the SEC on or before the
Required Effective Date because of the Company's breach of this provision, or
does not remain effective (any such failure being referred to as an "Event"),
then the Investor shall be entitled to receive from the Company, as payment in
full satisfaction for such Event, warrants to purchase an aggregate number of
shares of Common Stock equal to 1% of the number of Shares upon the same terms
as the Warrants (i) at the time of such Event, and (ii) upon each monthly
anniversary of such Event until the Event is cured, up to a maximum aggregate
amount of 10% of the Shares (the "LATE REGISTRATION WARRANTS"). In the event of
changes in the outstanding Common Stock of the Company by reason of a stock
dividend, stock split, reverse stock split, reorganization, recapitalization,
merger, consolidation, liquidation, separation, combination or exchange of
stock, change in the Company's business structure or sale or transfer of all or
any part of the Company's business or assets (referred to as a "Capital
Adjustment"), the number of Late Registration Warrants shall be adjusted
consistent with such Capital Adjustment;

                                        1

<PAGE>

               (C) use its commercially reasonable best efforts to prepare and
file with the SEC such amendments and supplements to the Registration Statement
and the Prospectus as may be necessary to keep the Registration Statement
current and effective for a period ending on the earlier of (i) the date on
which the Investor may sell Registrable Securities pursuant to paragraph (k) of
Rule 144 under the Securities Act or any successor rule ("RULE 144") or (ii)
such time as all Registrable Securities purchased by such Investor in this
Offering have been sold pursuant to a registration statement or Rule 144, and to
notify each Investor promptly upon the Registration Statement and each
post-effective amendment thereto, being declared effective by the SEC;

               (D) furnish to the Investor such number of copies (in paper or
electronic version) of the Registration Statement and the Prospectus (including
supplemental prospectuses), as the Investor may reasonably request, in order to
facilitate the public sale or other disposition of all or any of the Registrable
Securities by the Investor.

     It shall be a condition precedent to the obligations of the Company to take
any action pursuant to this Section 1 that the Investor shall furnish to the
Company, within two (2) business days of the Company's written request, such
information and representations regarding the Investor, the Registrable
Securities to be sold by Investor, and the intended method of disposition of
such securities as shall be required to effect the registration of the
Registrable Securities and/or sale under Rule 144. The Company understands that
the Investor disclaims being an underwriter, but acknowledges that a
determination by the SEC that the Investor is deemed an underwriter shall not
relieve the Company of any obligations it has hereunder.

     2.   TRANSFER OF SECURITIES AFTER REGISTRATION; SUSPENSION.

               (A) The Investor agrees that it will not effect any disposition
or other transfer of the Securities or its right to purchase the Securities that
would constitute a sale within the meaning of the Securities Act other than
transactions exempt from the registration requirements of the Securities Act, as
contemplated in the Registration Statement and as described below, and that it
will promptly notify the Company of any material changes in the information set
forth in the Registration Statement regarding the Investor or its plan of
distribution.

               (B) Except in the event that paragraph (c) below applies, the
Company shall: (i) if deemed necessary by the Company, prepare and file from
time to time with the SEC a post-effective amendment to the Registration
Statement or a supplement to the related Prospectus or a supplement or amendment
to any document incorporated therein by reference or file any other required
document so that such Registration Statement will not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
so that, as thereafter delivered to purchasers of the Registrable Securities
being sold thereunder, such Prospectus will not contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading; (ii) provide the Investor with either
copies of any documents filed pursuant to Section 2(b)(i) or access to such
documents electronically; and (iii) upon request, inform each Investor who so
requests that the Company has complied with its obligations in Section 2(b)(i)
(or that, if the Company has filed a post-effective amendment to the
Registration Statement which has not yet been declared effective, the Company
will notify the Investor to that effect, will use its best efforts to secure the
effectiveness of such post-effective amendment as promptly as possible and will
promptly notify the Investor pursuant to Section 2(b)(i) hereof when the
amendment has become effective).

                                        2

<PAGE>

               (C) Subject to paragraph (d) below, in the event: (i) of any
request by the SEC or any other federal or state governmental authority during
the period of effectiveness of the Registration Statement for amendments or
supplements to the Registration Statement or related Prospectus or for
additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of
the Registration Statement or the initiation of any proceedings for that
purpose; (iii) of the receipt by the Company of any notification with respect to
the suspension of the qualification or exemption from qualification of any of
the Registrable Securities for sale in any jurisdiction or the initiation of any
proceeding for such purpose; or (iv) of any event or circumstance which
necessitates the making of any material changes in the Registration Statement or
Prospectus, or any document incorporated or deemed to be incorporated therein by
reference, so that, in the case of the Registration Statement, it will not
contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading, and that in the case of the Prospectus, it will not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading; then the Company
shall promptly deliver a certificate in writing or electronically to the
Investor (the "SUSPENSION NOTICE") to the effect of the foregoing and, upon
receipt of such Suspension Notice, the Investor will refrain from selling any
Registrable Securities pursuant to the Registration Statement (a "SUSPENSION")
until the Investor is advised in writing by the Company that the current
Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference
in any such Prospectus. In the event of any Suspension, the Company will use its
reasonable best efforts to cause the use of the Prospectus so suspended to be
resumed as soon as reasonably practicable after delivery of a Suspension Notice
to the Investor. As its sole remedy for any breach of this Agreement, including
this Section 2(c), the Investor shall be entitled to specific performance. The
Investor covenants that from the date hereof it will maintain in confidence the
receipt and content of any Suspension Notice provided in accordance with this
paragraph (c) in accordance with and subject to Section 4.6 of Annex I to the
Securities Purchase Agreement.

               (D) If a Suspension is not then in effect, the Investor may sell
Registrable Securities under the Registration Statement, provided that it
complies with any applicable prospectus delivery requirements. Upon receipt of a
request therefor, the Company will provide an adequate number of current
Prospectuses to the Investor and to any other parties requiring such
Prospectuses.

               (E) In the event of a sale of Shares or Warrant Shares by the
Investor, unless such requirement is waived by the Company in writing, the
Investor must also deliver to the Company's transfer agent, with a copy to the
Company, such documentation reasonably requested by the transfer agent
including, without limitation, a Certificate of Subsequent Sale substantially in
the form attached hereto as Exhibit A, so that the Shares or Warrant Shares may
be properly transferred.

               (F) The Company agrees that it shall, immediately prior to the
Registration Statement being declared effective, deliver to its transfer agent
an opinion letter of counsel, opining that at any time the Registration
Statement is effective, the transfer agent shall issue, in connection with the
sale of the Shares or Warrant Shares, certificates representing such Shares
without restrictive legend, provided the Shares are to be sold pursuant to the
Prospectus contained in the Registration Statement and the transfer agent
receives all of the documentation required by the transfer agent including the
Certificate of Subsequent Sale in the form attached hereto as Exhibit "A."

The Company shall cause its transfer agent to issue a certificate without any
restrictive legend to a purchaser of any Shares or Warrant Shares from the
Investor at Investor's expense and upon request of Investor, if (a) the sale of
such Shares is registered under the Registration Statement (including

                                        3

<PAGE>

registration pursuant to Rule 415 under the Securities Act) and the Investor has
delivered a Certificate of Subsequent Sale to the Transfer Agent; (b) the holder
has provided the Company with an opinion of counsel, in form, substance and
scope reasonably acceptable to the Company, to the effect that a public sale or
transfer of such Shares may be made without registration under the Securities
Act; or (c) such Shares are sold in compliance with Rule 144 under the
Securities Act. In addition, the Company shall, at the Investor's expense and
upon request of the Investor, remove the restrictive legend from any Shares or
Warrant Shares held by the Investor following the expiration of the holding
period required by Rule 144(k) under the Securities Act (or any successor rule).

     3.   INDEMNIFICATION. For the purpose of this Section 3:

               (A) the term "SELLING SHAREHOLDER" shall mean the Investor and
each person, if any, who controls the Investor within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act;

               (B) the term "REGISTRATION STATEMENT" shall mean the final
Prospectus, supplement or amendment thereto (or deemed to be a part thereof)
referred to in Section 1; and

               (C) the term "UNTRUE STATEMENT" shall mean any material untrue
statement, or any material omission of a statement of a material fact required
to be made in the Registration Statement or necessary to make the statements
therein, in the light of the circumstances under which they were made, not
materially misleading.

               (D) (i) The Company agrees to indemnify and hold harmless each
Selling Shareholder from and against any losses, or damages to which such
Selling Shareholder may incur (under the Securities Act or otherwise) insofar as
such losses or damages arise out of (i) any untrue statement of a material fact
contained in the Registration Statement, or (ii) any inaccuracy in the
representations of the Company contained in this Agreement. The Company will
reimburse such Selling Shareholder for any reasonable legal expense incurred or
any out of pocket expenses reasonably incurred in defending any such claim or
action; provided, however, that the Company shall not be liable in any such case
to the extent that such loss or damage arises out of, or is based upon, an
untrue statement made in such Registration Statement in reliance upon and in
conformity with written information furnished to the Company by or on behalf of
such Selling Shareholder for use in preparation of the Registration Statement,
or any inaccuracy in representations made by such Selling Shareholder in the
Investor Questionnaire or the failure of such Selling Shareholder to comply with
its covenants and agreements contained in Sections in this Agreement or
contained in the Securities Purchase Agreement or any statement or omission in
any Prospectus that is corrected in any subsequent Prospectus that was delivered
to the Selling Shareholder prior to the pertinent sale or sales by the Selling
Shareholder. The obligation to indemnify shall be limited to the net amount of
the proceeds received by the Company from the Investor as a result of the
Offering.

                    (II) The Investor agrees to indemnify and hold harmless the
Company (and each person, if any, who controls the Company within the meaning of
Section 15 of the Securities Act, each officer of the Company who signs the
Registration Statement and each director of the Company) from and against any
losses or damage to which the Company (or any such officer, director or
controlling person) may become subject (under the Securities Act or otherwise),
insofar as such loss or damage (or actions or proceedings in respect thereof)
arise out of, or are based upon, (i) any failure to comply with the covenants
and agreements contained in this Agreement or of the Securities Purchase
Agreement or (ii) any untrue statement of a material fact contained in the
Registration Statement if, and only if, such untrue statement was made in
reliance upon and in conformity with written information furnished by or on
behalf of the Investor specifically for use in preparation of the Registration
Statement.

                                        4

<PAGE>

The Investor will reimburse the Company (or such officer, director or
controlling person), as the case may be, for any reasonable legal expense or
other actual accountable out-of-pocket expenses reasonably incurred in defending
any such claim, action or proceeding. The obligation to indemnify shall be
limited to the net amount of the proceeds received by the Investor from the sale
of the Registrable Securities pursuant to the Registration Statement.

                    (III) Promptly after receipt by any indemnified person of a
notice of a claim or the beginning of any action in respect of which indemnity
is to be sought against an indemnifying person pursuant to this Section 3, such
indemnified person shall notify the indemnifying person in writing of such claim
or of the commencement of such action, but the omission to so notify the
indemnifying party will not relieve it from any liability which it may have to
any indemnified party under this Section 3 (except to the extent that such
omission materially and adversely affects the indemnifying party's ability to
defend such action) or from any liability otherwise than under this Section 3.
Subject to the provisions hereinafter stated, in case any such action shall be
brought against an indemnified person, the indemnifying person shall be entitled
to participate therein, and, to the extent that it shall elect by written notice
delivered to the indemnified party promptly after receiving the aforesaid notice
from such indemnified party, shall be entitled to assume the defense thereof,
with counsel reasonably satisfactory to such indemnified person. After notice
from the indemnifying person to such indemnified person of its election to
assume the defense thereof (unless it has failed to assume the defense thereof
and appoint counsel reasonably satisfactory to the indemnified party), such
indemnifying person shall not be liable to such indemnified person for any legal
expenses subsequently incurred by such indemnified person in connection with the
defense thereof; provided, however, that if there exists or shall exist a
conflict of interest that would make it inappropriate, in the reasonable opinion
of counsel to the indemnified person, for the same counsel to represent both the
indemnified person and such indemnifying person or any affiliate or associate
thereof, the indemnified person shall be entitled to retain its own counsel at
the expense of such indemnifying person; provided, however, that no indemnifying
person shall be responsible for the fees and expenses of more than one separate
counsel (together with appropriate local counsel) for all indemnified parties.
In no event shall any indemnifying person be liable in respect of any amounts
paid in settlement of any action unless the indemnifying person shall have
approved the terms of such settlement; provided that such consent shall not be
unreasonably withheld. No indemnifying person shall, without the prior written
consent of the indemnified person, effect any settlement of any pending or
threatened proceeding in respect of which any indemnified person is or could
reasonably have been a party and indemnification could have been sought
hereunder by such indemnified person, unless such settlement includes an
unconditional release of such indemnified person from all liability on claims
that are the subject matter of such proceeding.

                    (IV) If the indemnification provided for in this Section 3
is unavailable to or insufficient to hold harmless an indemnified party under
paragraphs 3(d)(i) or 3(d)(ii) above in respect of any loss or damage (or
actions or proceedings in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such loss or damage (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative fault of
the Company on the one hand and the Investor on the other in connection with the
statements or omissions or other matters which resulted in such loss or damage
(or actions in respect thereof), as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among
other things, in the case of an untrue statement, whether the untrue statement
relates to information supplied by the Company on the one hand or the Investor
on the other and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such untrue statement. The Company and the
Investor agree that it would not be just and equitable if contribution pursuant
to this subsection (d) were determined by pro rata allocation (even if the
Investors were treated as one entity for such purpose) or by any other method of
allocation which does not take into account the equitable considerations
referred to above in this subsection (d). The amount paid or payable by an

                                        5

<PAGE>

indemnified party as a result of the loss or damage (or actions in respect
thereof) referred to above in this subsection (d) shall be deemed to include any
reasonable legal fees incurred by such indemnified party in connection with
defending any such action or claim. Notwithstanding the provisions of this
subsection (d), the Investor shall not be required to contribute any amount in
excess of the amount by which the gross amount received by the Investor from the
sale of the Registrable Securities to which such loss relates exceeds the amount
of any damages which the Investor has otherwise been required to pay by reason
of such untrue statement. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation. The Investors' obligations in this subsection to contribute
are several in proportion to their sales of Registrable Securities to which such
loss relates and not joint.

               (E) The parties to this Agreement hereby acknowledge that they
are sophisticated business persons who were represented by counsel during the
negotiations regarding the provisions hereof including, without limitation, the
provisions of this Section 3, and are fully informed regarding said provisions.
They further acknowledge that the provisions of this Section 3 fairly allocate
the risks in light of the ability of the parties to investigate the Company and
its business in order to assure that adequate disclosure is made in the
Registration Statement as required by the Securities Act and the Exchange Act.

     4. TERMINATION OF CONDITIONS AND OBLIGATIONS. The conditions precedent
imposed by Section 4 of the Securities Purchase Agreement or this Agreement upon
the transferability of the Securities shall cease and terminate as to any
particular number of the Securities when such Securities shall have been
effectively registered under the Securities Act and sold or otherwise disposed
of in accordance with the intended method of disposition set forth in the
Registration Statement covering such Securities or at such time as an opinion of
counsel satisfactory to the Company shall have been rendered to the effect that
such conditions are not necessary in order to comply with the Securities Act.

     5. INFORMATION AVAILABLE. So long as the Registration Statement is
effective covering the resale of Securities owned by the Investor, the Company
will furnish (or, to the extent such information is available electronically
through the Company's filings with the SEC, the Company will make available) to
the Investor, upon the reasonable request of the Investor:

               (A) as soon as practicable after it is available, one copy of (i)
its Annual Report to Shareholders (which Annual Report shall contain financial
statements audited in accordance with generally accepted accounting principles
by a national firm of certified public accountants) and (ii) if not included in
substance in the Annual Report to Shareholders, its Annual Report on Form 10-K
(the foregoing, in each case, excluding exhibits); and,

               (B) an adequate number of copies of the Prospectuses to supply to
any other party requiring such Prospectuses either in printed or electronic
form.

     6. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to
such carrier, (iv) if delivered by facsimile, upon electric confirmation of
receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                                        6

<PAGE>

               (A) if to the Company, to:

                   Arcadia Resources, Inc.
                   405 5th Avenue South, Suite 6
                   Naples, FL 34102
                   Attention: Chairman and CEO
                   Telephone: (239) 434-8884
                   Fax: (239) 434-5858

                   with a copy to:

                   Kerr, Russell and Weber, PLC
                   Attention: Patrick Haddad
                   500 Woodward Ave., Suite 2500
                   Detroit, MI 48226-3427
                   Telephone: (313) 961-0200
                   Fax: (313) 961-0388

               (B) if to the Investor, at its address on the signature page to
the Securities Purchase Agreement.

     7. AMENDMENTS; WAIVER. This Agreement may not be modified or amended except
pursuant to an instrument in writing signed by the Company and the Investor. Any
waiver of a provision of this Agreement must be in writing and executed by the
party against whom enforcement of such waiver is sought.

     8. HEADINGS. The headings of the various sections of this Agreement have
been inserted for convenience of reference only and shall not be deemed to be
part of this Agreement.

     9. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the entire
agreement and understanding of the parties relating to the subject matter hereof
and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

     10. GOVERNING LAW. This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of Michigan, without giving
effect to the principles of conflicts of law. Any dispute, controversy or claim
arising out of or relating to this Agreement, whether arising in contract, tort
or otherwise shall be resolved in accordance with the rules of the American
Arbitration Association, except for any equitable or injunctive relief sought
under this Agreement. The arbitration shall be held at a location within Oakland
County, Michigan. The Parties agree that any arbitration award rendered on any
claim submitted to arbitration shall be final and binding upon the Parties and
not subject to appeal and that judgment may be entered upon any arbitration
award by any circuit court located in Michigan.

     11. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

                                        7

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                        Dated as of: May __, 2007

                                        [INVESTOR NAME]

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

                                        Address:
                                                 -------------------------------

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

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

AGREED AND ACCEPTED:

Arcadia Resources, Inc.

By:
    ---------------------------------
Name: John E. Elliott, II
Title: Chairman, President and CEO

                 [REGISTRATION RIGHTS AGREEMENT SIGNATURE PAGE]

                                        8

<PAGE>

                                    EXHIBIT A

                             ARCADIA RESOURCES, INC.
                         CERTIFICATE OF SUBSEQUENT SALE

National City Bank
_____________________

_____________________

     RE: Sale of Shares of Common Stock of Arcadia Resources, Inc. (the
         "Company") pursuant to the Company's Prospectus dated _______________,
         20__ (the "Prospectus")

Dear Sir/Madam:

     The undersigned hereby certifies, in connection with the sale of shares of
Common Stock of the Company included in the table of Selling Shareholders in the
Prospectus, that the undersigned has sold the Shares pursuant to the Prospectus
and in a manner described under the caption "Plan of Distribution" in the
Prospectus and that such sale complies with all applicable securities laws,
including, without limitation, the Prospectus delivery requirements of the
Securities Act of 1933, as amended.

     Selling Shareholder (the beneficial owner): _______________________________

     Record Holder (e.g., if held in name of nominee): _________________________

     Restricted Stock Certificate No.(s): ______________________________________

     Number of Shares Sold: ____________________________________________________

     Date of Sale: _____________________________________________________________

     In the event that you receive a stock certificate(s) representing more
shares of Common Stock than have been sold by the undersigned, then you should
return to the undersigned a newly issued certificate for such excess shares in
the name of the Record Holder and BEARING A RESTRICTIVE LEGEND. Further, you
should place a stop transfer on your records with regard to such certificate.

Dated:                                  Very truly yours,
       ---------------------

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

                                       A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]