Document:

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                                                                   Exhibit 10.17

                         FINANCIAL CONSULTING AGREEMENT

THIS AGREEMENT is made and entered into as of May 10, 2003, by and between CYTRX
CORPORATION,  located at 11726 San Vicente  Blvd.,  Suite 650, Los  Angeles,  CA
90049 ("CytRx") and JAMES SKALKO,  located 1858 Bridgewater Drive, Lake Mary, FL
32746 ("Consultant").

For further consideration of the mutual promises and covenants contained herein,
the parties hereto agree as follows:

     1. SERVICES.

         (a)      CytRx hereby hires and employs  Consultant  as an  independent
                  contractor;  and Consultant does hereby accept its position as
                  an  independent   contractor  to  CytRx  upon  the  terms  and
                  conditions hereinafter set forth.

         (b)      Consultant  will  perform  financial  advisory  services  on a
                  non-exclusive basis. Such services will be performed on a best
                  efforts basis and will include the following:

                  (1)      Introduction  of CytRx to brokerage  firms to discuss
                           potential investment banking relationships:

                  (2)      Identification   of  and  introduction  to  potential
                           merger or acquisition candidates;

                  (3)      Assistance to CytRx with capital  structuring and the
                           placement of new debt and equity securities;

                  (4)      Any such other activities as the parties may mutually
                           agree to,  all with the  objective  of  accomplishing
                           CytRx's business and financial goals.

         (c)      Consultant  shall devote such time as, in the sole  discretion
                  of the Consultant, to the performance of his duties, is needed
                  to fulfill his duties under all of the terms and conditions of
                  this Agreement.

         (d)      Both parties intend this  Agreement to be a personal  contract
                  and Consultant shall not assign or delegate any rights, duties
                  or obligations  arising under this Agreement without the prior
                  written  consent of CytRx,  which  consent  may be withheld in
                  CytRx's sole discretion.

     2. COMPENSATION.

         Except as  expressly  provided  herein,  neither  CytRx nor any parent,
subsidiary,  or affiliate of CytRx or joint  venture in which CytRx an interest,
shall be liable for any payment to Consultant.

         (a)      CytRx  shall  pay  to  Consultant   upon   execution  of  this
                  Agreement,  a one time  retainer  fee of  100,000  restrictive
                  common shares. During the term of Consultant's  services.  For
                  further compensation of services rendered, Consultant shall be
                  given  200,000  two-year  warrants  exercisable  at $1.00  per
                  shares.  Such shares  shall be fully paid and non  assessable,
                  issued pursuant to a valid board of director's  resolution and
                  plan of compensation, adopted by CytRx, in accordance with the
                  laws of the State of Florida and California and all applicable
                  federal securities laws.

         (b)      Consultant shall be reimbursed by CytRx for all costs incurred
                  by Consultant in the  performance of his duties,  as set forth
                  in Section 1(b). Consultant will agree to obtain prior written
                  approval for any expense item in excess of $200.00.

         (c)      Requests by Consultant for  reimbursement  of expenses must be
                  accompanied  by an itemization of such expenses and reimbursed
                  within thirty (30) days of Consultant submission.

         (d)      All  compensation  and expense  reimbursements  are subject to
                  audit by CytRx upon request by CytRx and Consultant  agrees to
                  cooperate fully with CytRx in the event of such a request.

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         (e)      Piggyback  Registration Rights. If CytRx, during the period of
                  time from May 10, 2003 to May 9, 2004 files a new Registration
                  Statement  on Form S-3 under the  Securities  Act of 1933,  as
                  amended,  covering the sale of any CytRx's Common Stock,  then
                  on  each  such  occasion,  CytRx  shall  include  in any  such
                  Registration  Statement the shares of Common Stock  previously
                  issued to  Consultant,  provided that such shares are eligible
                  for inclusion in the Form S-3 and that  Consultant is eligible
                  under NASD regulations.

     3. TERM AND TERMINATION.

              The term of this  Agreement  shall commence May 10, 2003 and shall
              automatically terminate effective May 9, 2004.

              (a) Consultant  shall  have  the  right  to full  compensation  as
                  defined in Section 2 (a) and may terminated  this Agreement at
                  any  time  without  notice  (i) for  illegal  acts or  willful
                  neglect on the part of Cytrx or CytRx's agents or employees or
                  (ii) in the event any representation,  warranty,  covenant, or
                  agreement of CytRx  contained in this Agreement shall prove to
                  be  inaccurate  in whole or in part or (iii) in the event that
                  CytRx  materially  breaches any of its obligations  under this
                  Agreement.

     4.  In  connection  with  the  performance  of this  Agreement,  CytRx  and
         Consultant  shall  comply  with all  applicable  laws and  regulations,
         including,  without  limitation,  those of the National  Association of
         Securities Dealers, Inc. and the Securities Exchange Commission.

     5.  This  Agreement  may  not  be  executed  in  counterparts  and  by  fax
         transmission, each counterpart being deemed an original.

IN WITNESS WHEREOF, the Parties have executed this Agreement on the day and year
first above written.

CYTRX CORPORATION                         CONSULTANT

By: /s/ Steve Kriegsman                   By: /s/ James Skalko
    -------------------                       --------------------------------
     Steve Kreigsman                          James Skalko

                                       29EXHIBIT 10.129
                              CONSULTING AGREEMENT

          THIS CONSULTING AGREEMENT ("Consulting  Agreement") is effective as of
April  23,2003  ("Effective  Date"),  and is by and between  CALYPTE  BIOMEDICAL
CORP., a Delaware  corporation,  having its principal  place of business at 1265
Harbor Bay Pkwy, Alameda,  Ca. 94502 (hereinafter  referred to as the "Company")
and JUNEBUG ENTERPRISES, having its principal place of business at 9100 Wilshire
Blvd.  Ste.  700E,  Beverly  Hills,  Ca. 90212  (hereinafter  referred to as the
"Consultant").

                                R E C I T A L S:

          WHEREAS,  the Company  desires to obtain the services of Consultant as
an independent contractor to render consulting services to the Company under the
terms and conditions contained herein; and

          WHEREAS,  the Consultant  desires to provide service as an independent
contractor to the Company under the terms and conditions contained herein;

                  NOW,  THEREFORE,  IN CONSIDERATION OF THE MUTUAL COVENANTS AND
                  PROMISES  AND  OTHER  GOOD  AND  VALUABLE  CONSIDERATION,  THE
                  RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED, IT IS MUTUALLY AGREED
                  AS FOLLOWS:

                               A G R E E M E N T:
                                -----------------
1. GENERAL CONSULTING TERMS.

         1.1 CONSULTING PERIOD.  The Company hereby retains the Consultant,  and
the  Consultant  hereby  agrees  to  serve  the  Company  for  the  period  (the
"Consulting Period") beginning April 23, 2003 and ending on April 22, 2006.

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                  During the term of the within Consulting Agreement, Consultant
agrees to provide the  services of Earvin  "Magic"  Johnson to fulfill all terms
and obligations held within this agreement  beginning with but not limited to as
follows, to be available for eight (8) personal  appearances  annually on behalf
of the  Company,  subject to the  Company's  providing  twenty (20) days written
notice as to the date,  time, and location of the appearance.  Attendance at two
of the board meetings will fulfill two (2) of the eight (8) personal appearances
and the production of one (1) public service announcement (PSA), as described in
Section 1.2 hereinbelow,  will fulfill one (1) appearance.  Appearances shall be
limited to a two (2) hour maximum time limit, per each appearance, not including
travel time to and from the scheduled appearance.  The Company agrees to provide
first class travel arrangements, hotel accommodations, and per diem for meals as
required,  for  each  of  the  personal  appearances  provided  for  herein  for
Consultant, and personal assistant.

         1.2 CONSULTING  OBLIGATION.  During the Consulting  Period,  Consultant
will render such consulting and advising  services as an independent  contractor
to the Company,  primarily in connection  with the marketing (use of likeness in
product and company brochures,  use as spokesperson in PSA program, trade shows,
marketing programs),  distribution,  and sale of the Company's products, as well
as  meet  with  potential  investors  and  government  affairs  support.  It  is
understood  and  agreed  that  the  consulting   services  to  be  rendered  and
appearances will be mutually agreed upon by the Consultant and the Company.  All
uses of Consultant's  name,  likeness or image shall be subject to prior written
consent by consultant, which shall not be unreasonably withheld.

         1.3  COMPENSATION.  The Company  agrees to pay to Consultant the sum of
$1,000,000 per annum payable as follows:  $250,000  within seven (7) days of the
execution of the within  Agreement;  an additional  $250,000 payable thirty (30)
days from the date of the initial  payment;  and the balance of $500,000 payable
in equal  payments  of  $125,000

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quarterly thereafter on the last day of each quarter,  which shall be determined
as of the  Effective  Date.  For each  year  thereafter,  Company  agrees to pay
Consultant $250,000 quarterly, payable on the first day of each quarter.

                  Additionally,  the  Company  further  agrees  to donate to the
Magic  Johnson   Foundation,   Inc.  ("MJF")  2,000,000  shares  of  fully  paid
non-assessable  common stock for the initial  year of the term of the  Agreement
within 30 days of the signing of this agreement and,  thereafter,  an additional
2,000,000  shares of common stock for the second year,  and a further  2,000,000
shares for the third year of the  Agreement,  which also shall be issued  within
30days from the start of each additional year of the contract,  for an aggregate
of  6,000,000  shares,  which shares are  unregistered  shares that will contain
cost-free  best efforts  registration  rights by the Company upon the request of
MJF,  with the  further  understanding  that MJF will fully  cooperate  with the
Company in preparing and filing a Registration Statement for the shares of stock
referred to herein,  if  necessary,  and will  indemnify  the  Company  from any
liabilities  with  respect to  information  provided by MJF to the Company  with
respect to the registration of the shares herein.

                  Consultant  (Earvin Magic Johnson) will serve as a Director of
the  Company for as long as the within  Agreement  is in effect and that he will
accept his election  and/or  appointment to the Board of the Company and attend,
in person,  a minimum of two (2) Board  Meetings per year,  one of which will be
the Annual  Meeting of  Stockholders  of the  Company.  Additionally  consultant
agrees to make his best  efforts to attend at least one of the  remaining  board
meetings by telephone.  Additionally,  Consultant  understands  that the Company
will be  required  to file  the  appropriate  disclosure  information  with  the
Securities and Exchange Commission and issue a Press Release with respect to the
material terms of the within Agreement.  Consultant  further agrees that he will
not at any time  during the  entire  length of this  agreement  seek any form of
compensation for the above position.

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2. NOTICES.

          All notices,  requests,  consents and other communications required or
permitted to be given hereunder, shall be in writing and shall be deemed to have
been duly given if delivered  personally or sent by prepaid telegram,  or mailed
first-class,  postage prepaid,  by registered or certified mail (notices sent by
telegram or mailed shall be deemed to have been given on the date sent),  to the
address  stated in the within  Consulting  Agreement or to such other address as
either  party shall  designate  by notice in writing to the other in  accordance
herewith.

3. TERMINATION.

          The  Consulting  Period  shall  commence  on  April23,  2003 and shall
terminate on April 22, 2006. The parties agree that the within  Agreement may be
terminated  at the  option  of both  parties,  thirty  (30)  days  prior  to the
expiration  date of April 22, 2006 by either party  providing  written notice to
terminate the Agreement.  In the event that Company terminates this agreement in
absence of an event of breach by Consultant, the Company's obligation to pay the
Compensation,  as described in Sec. 1.3, shall survive such termination.  In the
event that  Consultant  can no longer  perform his duties or  obligations to the
Company for reasons specified below, then Consultant agrees to return a Pro Rata
portion  of both his  salary  and  stock  compensation  personally,  or thru his
estate,  to reimburse  Company for that portion of his contract that  Consultant
was paid for but not able to  continue  the  performance  of his  duties,  to be
calculated on a per day annual basis.

          It  is  expressly  understood  and  agreed  that  the  terms  of  this
Agreement,  may be  terminated  by the Company  prior to April 22, 2006 upon the
occurrence of any of the following events:

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         (a)  Automatically and without notice upon the death of the Consultant;
it is also  understood  that  Consultant will be entitled to pro rata Consulting
Fee which will be payable to his estate;

         (b) Persistent absenteeism on the part of the Consultant,  which in the
reasonable  judgment of the Board of  Directors of the Company is having or will
have a material  adverse effect on the  performance of the  Consultant's  duties
under this Agreement;

         (c)  Deliberate  and  willful  failure  to  perform  normal  Consulting
services and duties required of Consultant pursuant to this Agreement, except if
the  performance  of such duties or  services  would  result in a  violation  of
Consultant's  fiduciary  responsibility to the Company and its shareholders as a
Director or is in a violation of applicable laws;

         (d) Any  material  and  willful  act or  failure  to act,  which in the
reasonable  opinion of the Board, is in bad faith and to the material  detriment
of the  Company;  (e)  Conviction  of a  felony  involving  moral  turpitude  or
dishonesty; and (f) Fraudulent misconduct of the Consultant.

4. PROPRIETARY INFORMATION.

         Consultant shall keep confidential, except as the Company may otherwise
consent in writing,  and not  disclose or make any use of except for the benefit
of the  Company,  at any time  either  during or  subsequent  to the  Consulting
Period,  any Proprietary  Information  (defined  hereinafter) which it or he may
produce,  obtain or otherwise acquire during the course of providing  consulting
services.  As used herein,  "Proprietary  Information"  shall  include any trade
secrets,  confidential information,  knowledge, data or other information of the
Company  relating to products,  processes,  know-how,  designs,  formulas,  test
products,  procedures,  and results,  customer lists, business plans,  marketing
plans and strategies, and pricing strategies, or other subject matter pertaining
to any business of the Company for any of its clients,  customers,  consultants,
licensees  or  affiliates.  In the  event  of the  termination  of

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Consultant's  services  for any reason  whatsoever,  Consultant  shall  promptly
return all records,  materials,  equipment,  drawings and the like pertaining to
any  Proprietary  Information  within its possession of the possession of any of
its employees.

 5. INDEPENDENT CONTRACTOR.

         In all work covered by this Consulting Agreement,  Consultant shall act
as and be an  independent  contractor  (and not an employee of the Company) and,
except as otherwise provided for herein, shall be solely liable for all expenses
and labor in connection with providing  consulting  services.  Consultant  shall
control any and all of his/her  employees,  and Consultant  shall be responsible
for insuring that any and all of his/her employees comply with the provisions of
Section  4 above in the same  manner as if they  were  bound by this  Consulting
Agreement.

6. GENERAL PROVISIONS.

          6.1 GOVERNING LAW. This Consulting  Agreement shall be governed by and
construed and enforced in accordance with the

laws of the State of California .

          6.2 ENTIRE AGREEMENT.  This Consulting Agreement sets forth the entire
agreement  and  understanding  of the parties  relating  to the  subject  matter
hereof. No representation,  promise or inducements has been made by either party
that is not embodied in this  Consulting  Agreement,  and neither party shall be
bound by or liable for any alleged representation,  promise or inducement not so
set forth.

          6.3 MODIFICATION.  This Consulting Agreement may be amended, modified,
superseded,  cancelled,  renewed or extended,  and the terms or covenants hereof
may be waived,  only by a written  instrument  executed  by both of the  parties
hereto or, in the case of a waiver, by the party waiving compliance.

          6.4  SEVERANCE.  If any provision of this  Consulting  Agreement is or
becomes invalid, illegal or unenforceable, the remaining provisions shall remain
in full  force  and

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effect,  and for the  invalid,  illegal  or  unenforceable  provision  shall  be
substituted a valid, legal or enforceable provision which shall be as similar as
possible in economic and business objectives as intended by the parties.

          6.5 RELATIONSHIP  BETWEEN THE COMPANY AND CONSULTANT.  Nothing in this
Consulting  Agreement  shall be construed to place the parties in a relationship
whereby  either shall be considered to be the agent of the other for any purpose
whatsoever. Neither party is authorized to enter into any contract or assume any
obligation for the other,  provided,  however,  the statements made  hereinabove
shall not interfere or limit  Consultant's  duties,  rights, or obligations as a
director of the Company. Nothing in this Consulting Agreement shall be construed
to establish a  relationship  between the Company and  Consultant as partners or
joint ventures.

          6.6 COMPETING  PRODUCTS.  During the term of this  Agreement,  neither
directly nor through any third party,  Consultant shall not promote,  market, or
advertise,  without prior written consent  permission from Company,  which shall
not be unreasonably  withheld, any in vitro diagnostic test for the detection of
HIV antibodies.

          6.7  Company  will  exert  its  best  efforts  to  assist  MJF  in its
promotion,  marketing, and fundraising campaigns,  including but not limited to;
print MJF  contact  information  on HIV  testing  brochures,  complimentary  HIV
testing kits at Health fairs,  complimentary  HIV testing kits to health clinics
affiliated with consultant,  PSA programs shall mention MJF,  including  contact
information,  and  opportunities  for Company and/or its investors to co-sponsor
and/or  donate  funds to MJF and its  programs,  within  reason,  as long as the
Company  is  not  in  any  violation  of  Foreign  and/or  Domestic   regulatory
requirements,  limitations,  and/or  restrictions,  nor hinders the Company from
entering  into  any  future   agreements,   or   partnerships,   with  potential
Pharmaceutical partners.

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          6.8  Consultant  warrants  and  represents  that  Consultant  has been
represented by counsel, and that Consultant is aware that the shares of stock in
the  Company  for  services  rendered  or  to be  rendered  are  required  to be
registered,  and  that  Consultant  is  subject  to  all  applicable  rules  and
regulations  that  govern  the  purchase  or sale of stock in the  Company by an
insider and that, as the within  Agreement is a material event, the Company will
be required to issue a Press Release and file a Form 8-K disclosure  report with
the SEC.

          6.9 In the event that notice is required under the within Agreement:

                  If to Company, at:
                  CALYPTE BIOMEDICAL CORP.
                  1265 Harbor Bay Parkway
                  Alameda, CA 94502
                  Attn:  President

                  If to Consultant, at

                  JUNEBUG ENTERPRISES
                  9100 Wilshire Blvd. Ste. 700E
                  Beverly Hills, Ca. 90212

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          IN WITNESS  WHEREOF,  the parties hereto have executed this Consulting
Agreement on the day and year first above written.

                                           CALYPTE BIOMEDICAL CORP.

                                            By:   /s/ ANTHONY J. CATALDO
                                            ------------------------------------
                                                      ANTHONY J. CATALDO

                                                  /s/ EARVIN JOHNSON JR.
                                           -------------------------------------
                                                    JUNEBUG ENTERPRISES
                                                    Consultant

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