Document:

<PAGE>   1
                                                                   Exhibit 10.86

                          SECURITIES PURCHASE AGREEMENT

         SECURITIES PURCHASE AGREEMENT (the "AGREEMENT"), dated as of June 14,
2000, by and among BioShield Technologies, Inc., a Georgia corporation, with
headquarters located at 5655 Peachtree Parkway, Georgia 30092 (the "COMPANY"),
and the investor listed on the Schedule of Buyers (the "SCHEDULE OF BUYERS")
attached hereto (individually, a "BUYER" or collectively "BUYERS").

         WHEREAS:

         A. The Company and the Buyers are executing and delivering this
Agreement in reliance upon the exemption from securities registration pursuant
to Section 4(2) and/or Regulation D ("REGULATION D") at the sole election of
Buyer in the event that a registration statement filed by the Company pursuant
to Section 2(a) of the Registration Rights Agreement (described below) is not
declared effective by the Registration Deadline (as defined therein) as
promulgated by the U.S. Securities and Exchange Commission (the "SEC") under the
Securities Act of 1933, as amended (the "1933 ACT");

         B. The Company has authorized the following new series of its Preferred
Stock, no par value per share (the "PREFERRED STOCK"): the Company's Series B
Convertible Preferred Stock (the "SERIES B PREFERRED Shares"), which shall be
convertible into shares of the Company's Common Stock, no par value per share
(the "COMMON STOCK") (as converted, the "CONVERSION SHARES"), in accordance with
the terms of the Company's Amendments to its Articles of Incorporation,
substantially in the form attached hereto as Exhibit "A" (the "AMENDMENT");

         C. The Buyer wishes to purchase, upon the terms and conditions stated
in this Agreement, an aggregate of 500 shares of Series B Preferred Shares in
the respective amounts set forth opposite each Buyer's name on the Schedule of
Buyers;

         D. Contemporaneously with the execution and delivery of this Agreement,
the parties hereto are executing and delivering a Registration Rights Agreement
substantially in the form attached hereto as Exhibit "B" (the "REGISTRATION
RIGHTS AGREEMENT") pursuant to which the Company has agreed to provide certain
registration rights under the 1933 Act and the rules and regulations promulgated
thereunder, and applicable state securities laws; and

         E. The holders of Series B Preferred Shares shall receive stock
purchase warrants to acquire shares of Common Stock of the Company at an
exercise price of $18.92 per share the form attached as Exhibit "C" (the
"WARRANTS").

         NOW THEREFORE, the Company and the Buyer hereby agree as follows:

         1. PURCHASE AND SALE OF SERIES B PREFERRED STOCK.

                a. Purchase of Series B Preferred Stock. Subject to the
         satisfaction (or waiver) of the conditions set forth in Sections 6 and
         7 below, the Company shall issue and sell to the

                                       1
<PAGE>   2
         Buyers and the Buyers shall purchase from the Company an aggregate of
         500 shares of Series B Preferred Stock, in the respective amounts set
         forth opposite each Buyer's name on the Schedule of Buyers (the
         "CLOSING").

                  b. Closing Date. The date and time of the Closing (the
         "CLOSING DATE") shall be at a time and place as is mutually agreed to
         by the Company and the Buyer. The Closing shall occur on the Closing
         Date at the offices of Sims Moss Kline & Davis LLP, 400 Northpark Town
         Center, Suite 310, 1000 Abernathy Road, N.E., Atlanta, Georgia 30328.

                  c. Form of Payment. On the Closing Date, (i) each Buyer shall
         pay the purchase price to the Company for the Series B Preferred Shares
         to be issued and sold to such Buyer at the Closing, by wire transfer of
         immediately available funds in accordance with the Escrow Agreement
         between the parties, dated as of June 7, 2000, and (ii) the Company
         shall deliver to each Buyer, certificates representing such Series B
         Preferred Shares which such Buyer is then purchasing (as indicated
         opposite such Buyer's name on the Schedule of Buyers), duly executed on
         behalf of the Company and registered in the name of such Buyer or its
         designee (the "CERTIFICATES") and the Warrants.

         2.       BUYER'S REPRESENTATIONS AND WARRANTEES.

         Each Buyer represents and warrants with respect to only itself that:

                  a. Investment Purpose. Such Buyer (i) is acquiring the Series
         B Preferred Shares, (ii) upon conversion of the Series B Preferred
         Shares, will acquire the Conversion Shares then issuable, (iii) will
         acquire any Warrants issuable, and (iv) upon exercise of the Warrants,
         will acquire the shares of Common Stock upon exercise thereof (the
         "WARRANT SHARES") for its own account for investment only and not with
         a view towards, or for resale in connection with, the public sale or
         distribution thereof, except pursuant to sales registered or exempted
         under the 1933 Act; provided, however, that by making the
         representations herein, such Buyer does not agree to hold any Series B
         Preferred Shares, Conversion Shares, Warrants, or Warrant Shares for
         any minimum or other specific term and reserves the right to dispose of
         Series B Preferred Shares, Conversion Shares, Warrants, or Warrant
         Shares at any time in accordance with or pursuant to a registration
         statement or an exemption under the 1933 Act.

                  b. Accredited Investor Status. Such Buyer is an "accredited
         investor" as that term is defined in Rule 501(a)(3) of Regulation D.

                  c. Reliance on Exemptions. Such Buyer understands that the
         Series B Preferred Shares, the Conversion Shares, the Warrants, and the
         Warrant Shares are being offered and sold to it in reliance on specific
         exemptions from the registration requirements of United States federal
         and state securities laws and that the Company is relying in part upon
         the truth and accuracy of, and such Buyer's compliance with, the
         representations, warranties, agreements, acknowledgments and
         understandings of such Buyer set forth herein in order

                                       2
<PAGE>   3
         to determine the availability of such exemptions and the eligibility of
         such Buyer to acquire such securities.

                  d. Information. Such Buyer and its advisors, if any, have been
         furnished with all materials relating to the business, finances and
         operations of the Company and materials relating to the offer and sale
         of the Series B Preferred Shares, the Conversion Shares, the Warrants,
         and the Warrant Shares, which have been requested by such Buyer. Such
         Buyer and its advisors, if any, have been afforded the opportunity to
         ask questions of the Company. Neither such inquiries nor any other due
         diligence investigations conducted by such Buyer or its advisors, if
         any, or its representatives shall modify, amend or affect such Buyer's
         right to rely on the Company's representations and warranties contained
         in Section 3 below. Such Buyer understands that its investment in the
         Series B Preferred Shares, the Conversion Shares, the Warrants, and the
         Warrant Shares involves a high degree of risk. Such Buyer has sought
         such accounting, legal and tax advice as it has considered necessary to
         make an informed investment decision with respect to its acquisition of
         the Series B Preferred Shares, the Conversion Shares, the Warrants, and
         the Warrant Shares.

                  e. No Governmental Review. Such Buyer understands that no
         United States federal or state agency or any other government or
         governmental agency has passed on or made any recommendation or
         endorsement of the Series B Preferred Shares, the Conversion Shares,
         the Warrants, and the Warrant Shares or the fairness or suitability of
         the investment in the Series B Preferred Shares, the Conversion Shares,
         the Warrants, or the Warrant Shares nor have such authorities passed
         upon or endorsed the merits of the offering of the Series B Preferred
         Shares, the Conversion Shares, the Warrants, or the Warrant Shares.

                  f. Transfer or Resale. Such Buyer understands that except as
         provided in the Registration Rights Agreement: (i) the Series B
         Preferred Shares, the Conversion Shares, the Warrants, and the Warrant
         Shares have not been and are not being registered under the 1933 Act or
         any state securities laws, and may not be offered for sale, sold,
         assigned or transferred unless (a) subsequently registered thereunder,
         (b) such Buyer shall have delivered to the Company an opinion of
         counsel, in a generally acceptable form, to the effect that such
         securities to be sold, assigned or transferred may be sold, assigned or
         transferred pursuant to an exemption from such registration, or (c)
         such Buyer provides the Company with reasonable assurance that such
         securities can be sold, assigned or transferred pursuant to Rule 144
         promulgated under the 1933 Act, (ii) any sale of such securities made
         in reliance on Rule 144 (or a successor rule thereto) ("RULE 144") may
         be made only in accordance with the terms of Rule 144 and further, if
         Rule 144 is not applicable, any resale of such securities under
         circumstances in which the seller (or the person through whom the sale
         is made) may be deemed to be an underwriter (as that term is defined in
         the 1933 Act) may require compliance with some other exemption under
         the 1933 Act or the rules and regulations of the SEC thereunder; and
         (iii) neither the Company nor any other person is under any obligation
         to register such securities under the 1933 Act or any state securities
         laws or to comply with the terms and conditions of any exemption
         thereunder.

                                       3
<PAGE>   4
                  g. Legends. Such Buyer understands that the certificates or
         other instruments representing the Series B Preferred Shares, the
         Warrants and, until such time as the sale of the Conversion Shares have
         been registered under the 1933 Act as contemplated by the Registration
         Rights Agreement, the stock certificates representing the Conversion
         Shares, and the Warrant Shares shall bear a restrictive legend in
         substantially the following form (and a stop transfer order may be
         placed against transfer of such stock certificates):

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
                  APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN
                  ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD,
                  TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
                  REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
                  ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS,
                  OR AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT
                  REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE
                  STATE SECURITIES LAWS OR UNLESS SOLD PURSUANT TO RULE 144
                  UNDER SAID ACT.

                  The legend set forth above shall be removed and the Company
         shall issue a certificate without such legend to the holder of the
         Series B Preferred Shares, the Conversion Shares, the Warrants, or the
         Warrant Shares upon which it is stamped, if, unless otherwise required
         by state securities laws, (i) the sale of the Conversion Shares or the
         Warrant Shares is registered under the 1933 Act, (ii) in connection
         with a sale transaction, such holder provides the Company with an
         opinion of counsel, in a generally acceptable form, to the effect that
         a public sale, assignment or transfer of the Series B Preferred Shares,
         the Conversion Shares, the Warrants, or the Warrant Shares may be made
         without registration under the 1933 Act, or (iii) such holder provides
         the Company with reasonable assurances that the Series B Preferred
         Shares, the Conversion Shares, the Warrants, or the Warrant Shares can
         be sold pursuant to Rule 144 without any restriction as to the number
         of securities acquired as of a particular date that can then be
         immediately sold.

                  h. Authorization, Enforcement. This Agreement has been duly
         and validly authorized, executed and delivered on behalf of such Buyer
         and is a valid and binding agreement of such Buyer enforceable in
         accordance with its terms, subject as enforceability to general
         principles of equity and to applicable bankruptcy, insolvency,
         reorganization, moratorium, liquidation and other similar laws relating
         to, or affecting generally, the enforcement of applicable creditors'
         rights and remedies.

                  i. Residency. Such Buyer is a resident of that country
         specified in its address on the Schedule of Buyers.

                                       4
<PAGE>   5
                  j. No Scheme to Evade Registration. Buyer represents and
         warrants to the Company that the acquisition of the Series B Preferred
         Shares and the Conversion Shares is not a transaction (or any element
         of a series of transactions) that is part of a plan or scheme by the
         Buyer to evade the registration provisions of the 1933 Act.

         3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

         The Company represents and warrants to each of the Buyers that:

                  a. Organization and Qualification. The Company is a
         corporation duly organized and validly existing in good standing under
         the laws of the jurisdiction in which they are incorporated, and have
         the requisite corporate power to own their properties and to carry on
         their business as now being conducted. The Company is duly qualified as
         a foreign corporation to do business and is in good standing in every
         jurisdiction in which the nature of the business conducted by it makes
         such qualification necessary, except to the extent that the failure to
         be so qualified or be in good standing would not have a material
         adverse effect on the Company taken as a whole.

                  b. Authorization, Enforcement, Compliance with Other
         Instruments. (i) The Company has the requisite corporate power and
         authority to enter into and perform this Agreement, the Registration
         Rights Agreement and any related agreements, and to issue the Series B
         Preferred Shares, the Conversion Shares, and cause to be issued the
         Warrants, and the Warrant Shares in accordance with the terms hereof
         and thereof, (ii) the execution and delivery of this Agreement, the
         Registration Rights Agreement and any related agreements by the Company
         and the consummation by it of the transactions contemplated hereby and
         thereby, including without limitation the issuance of the Series B
         Preferred Shares and the Warrants and the reservation for issuance and
         the issuance of the Conversion Shares and the Warrant Shares issuable
         upon conversion or exercise thereof, have been duly authorized by the
         Company's Board of Directors and no further consent or authorization is
         required by the Company, its Board of Directors or its stockholders,
         (iii) this Agreement and the Registration Rights Agreement and any
         related agreements have been duly executed and delivered by the
         Company, (iv) this Agreement, the Registration Rights Agreement and any
         related agreements constitute the valid and binding obligations of the
         Company enforceable against the Company in accordance with their terms,
         except as such enforceability may be limited by general principles of
         equity or applicable bankruptcy, insolvency, reorganization,
         moratorium, liquidation or similar laws relating to, or affecting
         generally, the enforcement of creditors' rights and remedies, and (v)
         prior to the Closing Date, the Certificate of Designations has been
         filed with the Secretary of State of the State of Georgia and will be
         in full force and effect, enforceable against the Company in accordance
         with its terms.

                  c. Capitalization. As of May 15, 2000, the authorized capital
         stock of the Company consists of 50,000,000 shares of Common Stock, of
         which as of the date hereof 7,981,714 shares were issued and
         outstanding, and 10,000,000 shares of Preferred Stock of which 200
         shares of Series A preferred stock were issued and outstanding. All of
         such outstanding shares have been validly issued and are fully paid and
         non-assessable. Except

                                       5
<PAGE>   6
         as disclosed in Schedule 3(c), no shares of Common Stock or preferred
         stock are subject to preemptive rights or any other similar rights or
         any liens or encumbrances suffered or permitted by the Company. Except
         as disclosed in Schedule 3(c), as of the effective date of this
         Agreement (i) there are no outstanding debt securities and (ii) there
         are no agreements or arrangements under which the Company is obligated
         to register the sale of any of their securities under the 1933 Act
         (except the Registration Rights Agreement). There are no securities or
         instruments containing anti-dilution or similar provisions that will be
         triggered by the issuance of the Series B Preferred Shares, the
         Conversion Shares, the Warrants, or the Warrant Shares as described in
         this Agreement. The Company has furnished to the Buyer true and correct
         copies of the Company's Articles of Incorporation, as amended and as in
         effect on the date hereof (the "ARTICLES OF INCORPORATION"), and the
         Company's By-laws, as in effect on the date hereof (the "BY-LAWS"), and
         the terms of all securities convertible into or exercisable for Common
         Stock and the material rights of the holders thereof in respect
         thereto.

                  d. Issuance of Securities. The Series B Preferred Shares are
         duly authorized and, upon issuance in accordance with the terms hereof,
         shall be (i) validly issued, fully paid and non-assessable, are free
         from all taxes, liens and charges with respect to the issue thereof and
         are entitled to the rights and preferences set forth in the Series B
         Preferred Shares. The Conversion Shares issuable upon conversion of the
         Series B Preferred Shares have been duly authorized and reserved for
         issuance. Upon conversion or exercise in accordance with the Series B
         Preferred Shares or the Warrants, the Conversion Shares and the Warrant
         Shares will be validly issued, fully paid and non-assessable and free
         from all taxes, liens and charges with respect to the issue thereof,
         with the holders being entitled to all rights accorded to a holder of
         Common Stock.

                  e. No Conflicts. Except as disclosed in Schedule 3(e), the
         execution, delivery and performance of this Agreement by the Company
         and the consummation by the Company of the transactions contemplated
         hereby will not (i) result in a material violation of the Articles of
         Incorporation, any preferences and rights of any outstanding series of
         preferred stock of the Company or By-laws or (ii) conflict with or
         constitute a default (or an event which with notice or lapse of time or
         both would become a default) under, or give to others any rights of
         termination, amendment, acceleration or cancellation of, any material
         agreement, indenture or instrument to which the Company is a party, or
         result in a violation of any law, rule, regulation, order, judgment or
         decree (including federal and state securities laws and regulations and
         the rules and regulations of the principal market or exchange on which
         the Common Stock is traded or listed) applicable to the Company or by
         which any property or asset of the Company bound or affected. Except as
         disclosed in Schedule 3(e), the Company is in violation of any term of
         or in default under its Articles of Incorporation or Bylaws or their
         organizational charter or by-laws, respectively, or any material
         contract, agreement, mortgage, indebtedness, indenture, instrument,
         judgment, decree or order or any statute, rule or regulation applicable
         to the Company. To the knowledge of the Company, the business of the
         Company are not being conducted, and shall not be conducted in
         violation of any law, ordinance, or regulation of any governmental
         entity. Except as specifically contemplated by this Agreement and as
         required under the 1933 Act and any applicable state

                                       6
<PAGE>   7
         securities laws, the Company is not required to obtain any consent,
         authorization or order of, or make any filing or registration with, any
         court or governmental agency in order for it to execute, deliver or
         perform any of its obligations under or contemplated by this Agreement
         or the Registration Rights Agreement in accordance with the terms
         hereof or thereof except as disclosed in Schedule 3(e). All consents,
         authorizations, orders, filings and registrations which the Company is
         required to obtain pursuant to the preceding sentence have been
         obtained or effected on or prior to the date hereof.

                  f. SEC Documents: Financial Statements. Since January 1, 1999,
         the Company has filed all reports, schedules, forms, statements and
         other documents required to be filed by it with the SEC pursuant to the
         reporting requirements of the Securities Exchange Act of 1934, as
         amended (the "1934 ACT") (all of the foregoing filed prior to the date
         hereof and all exhibits included therein and financial statements and
         schedules thereto and documents incorporated by reference therein,
         being hereinafter referred to as the "SEC DOCUMENTS"). The Company has
         delivered to the Buyer or its representative true and complete copies
         of the SEC Documents. As of their respective dates, the financial
         statements of the Company attached as Schedule 3(f) hereto (the
         "FINANCIAL STATEMENTS") complied as to form in all material respects
         with applicable accounting requirements and the published rules and
         regulations of the SEC with respect thereto. Such financial statements
         have been prepared in accordance with generally accepted accounting
         principles, consistently applied, during the periods involved (except
         (i) as may be otherwise indicated in such financial statements or the
         notes thereto, or (ii) in the case of unaudited interim statements, to
         the extent they may exclude footnotes or may be condensed or summary
         statements) and fairly present in all material respects the financial
         position of the Company as of the dates thereof and the results of its
         operations and cash flows for the periods then ended (subject, in the
         case of unaudited statements, to normal year-end audit adjustments).

                  g. Absence of Certain Changes. Except as disclosed in Schedule
         3(g), since January 1, 1999, there has been no material adverse change
         and no material adverse development in the business, properties,
         operations, financial condition, results of operations or prospects of
         the Company. The Company has not taken any steps, and does not
         currently expect to take any steps, to seek protection pursuant to any
         bankruptcy law nor does the Company have any knowledge or reason to
         believe that its creditors intend to initiate involuntary bankruptcy
         proceedings.

                  h. Absence of Litigation. There is no action, suit,
         proceeding, inquiry or investigation before or by any court, public
         board, government agency, self-regulatory organization or body pending
         or, to the knowledge of the Company against or affecting the Company or
         the Common Stock , wherein an unfavorable decision, ruling or finding
         would (i) have a material adverse effect on the transactions
         contemplated hereby (ii) adversely affect the validity or
         enforceability of, or the authority or ability of the Company to
         perform its obligations under, this Agreement or any of the documents
         contemplated herein or (iii), except as expressly set forth in Schedule
         3(h), have a material adverse effect on the business, operations,
         properties, financial condition or results of operation of the Company
         taken as a whole.

                                       7
<PAGE>   8
                  i. Acknowledgment Regarding Buyer's Purchase of Series B
         Preferred Shares. The Company acknowledges and agrees that the Buyer is
         acting solely in the capacity of an arm's length purchaser with respect
         to this Agreement and the transactions contemplated hereby.

                  j. No Undisclosed Events, Liabilities, Developments or
         Circumstances. No event, liability, development or circumstance has
         occurred or exists, or is contemplated to occur, with respect to the
         Company's respective business, properties, prospects, operations or
         financial condition, which could be material but which has not been
         publicly announced or disclosed in writing to the Buyer.

                  k. No General Solicitation. Neither the Company, nor any of
         its affiliates, nor any person acting on its or their behalf, has
         engaged in any form of general solicitation or general advertising
         (within the meaning of Regulation D under the 1933 Act) in connection
         with the offer or sale of the Series B Preferred Shares, the Conversion
         Shares, the Warrants, or the Warrant Shares.

                  1. No Integrated Offering. Neither the Company, nor any of its
         affiliates, nor any person acting on its or their behalf has, directly
         or indirectly, made any offers or sales of any security or solicited
         any offers to buy any security, under circumstances that would require
         registration of the Series B Preferred Shares, the Conversion Shares,
         the Warrants, and the Warrant Shares under the 1933 Act or cause this
         offering of Series B Preferred Shares, the Conversion Shares, the
         Warrants, or the Warrant Shares to be integrated with prior offerings
         by the Company for purposes of the 1933 Act or any applicable
         stockholder approval provisions.

                  m. Employee Relations. The Company is involved in any labor
         dispute nor, to the knowledge of the Company in any such dispute
         threatened. The Company is not a member of a union and the Company
         believe that their relations with their employees are good.

                  n. Title. The Company has good and marketable title in fee
         simple to all real property and good and marketable title to all
         personal property owned by them which is material to the business of
         the Company, in each case free and clear of all liens, encumbrances and
         defects except such as are described in Schedule 3(n) or such as do not
         materially affect the value of such property and do not interfere with
         the use made and proposed to be made of such property by the Company .
         Any real property and facilities held under lease by the Company are
         held by them under valid, subsisting and enforceable leases with such
         exceptions as are not material and do not interfere with the use made
         and proposed to be made of such property and buildings by the Company.

                  o. Regulatory Permits. The Company possess all material
         certificates, authorizations and permits issued by the appropriate
         federal, state or foreign regulatory authorities necessary to conduct
         their respective businesses, and neither the Company nor

                                       8
<PAGE>   9
         any such subsidiary has received any notice of proceedings relating to
         the revocation or modification of any such certificate, authorization
         or permit.

                  p. Tax Status. Except as set forth on Schedule 3(p), the
         Company has made or filed all federal and state income and all other
         tax returns, reports and declarations required by any jurisdiction to
         which it is subject (unless and only to the extent that the Company has
         set aside on its books provisions reasonably adequate for the payment
         of all unpaid and unreported taxes) and has paid all taxes and other
         governmental assessments and charges that are material in amount, shown
         or determined to be due on such returns, reports and declarations,
         except those being contested in good faith and has set aside on its
         books provision reasonably adequate for the payment of all taxes for
         periods subsequent to the periods to which such returns, reports or
         declarations apply. There are no unpaid taxes in any material amount
         claimed to be due by the taxing authority of any jurisdiction, and the
         officers of the Company know of no basis for any such claim.

                  q. Fees and Rights of First Refusal. The Company is not
         obligated to offer the securities offered hereunder on a right of first
         refusal basis or otherwise to any third parties including, but not
         limited to, current or former shareholders of the Company,
         underwriters, brokers, agents or other third parties.

                  r. Shareholder Approval. The Company covenants to submit to
         its shareholders at its next shareholder meeting a proposal for
         ratification of the issuance of the Series B Preferred Shares and the
         Conversion Shares, if and as required by the rules of the National
         Association of Securities Dealers, Inc. (the "NASD") applicable to the
         transaction.

                  s. Dilution. The Company acknowledges that issuance of the
         Conversion Shares upon conversion of the Series B Preferred Shares will
         result in dilution of the outstanding shares of Common Stock , which
         dilution may be substantial under certain market conditions. The
         Company further acknowledges that its obligation to issue the
         Conversion Shares upon conversion of the Series B Preferred Shares in
         accordance with the terms of the Amendment is unconditional and
         absolute, subject to the limitations set forth herein and in the
         Amendment, regardless of the effect of any such dilution.

         4. COVENANTS.

                  a. Best Efforts. Each party shall use its best efforts timely
         to satisfy each of the conditions to be satisfied by it as provided in
         Sections 6 and 7 of this Agreement.

                  b. Form D. The Company agrees to file a Form D with respect to
         the Series B Preferred Shares and the Conversion Shares as required
         under Regulation D and to provide a copy thereof to each Buyer promptly
         after such filing. The Company shall, on or before the Closing Date,
         take such action as the Company shall reasonably determine is necessary
         to qualify the Series B Preferred Shares and the Conversion Shares for,
         or obtain exemption for the Series B Preferred Shares and the
         Conversion Shares for, sale to the Buyers at the Closing pursuant to
         this Agreement under applicable securities or "Blue Sky" laws of the

                                       9
<PAGE>   10
         states of the United States, and shall provide evidence of any such
         action so taken to the Buyers on or prior to the Closing Date.

                  c. Reporting Status. Until the earlier of (i) the date as of
         which the Investors (as that term is defined in the Registration Rights
         Agreement) may sell all of the Conversion Shares without restriction
         pursuant to Rule 144(k) promulgated under the 1933 Act (or successor
         thereto), or (ii) the date on which (A) the Investors shall have sold
         all the Conversion Shares and (B) none of the Series B Preferred Shares
         is outstanding (the "REGISTRATION PERIOD"), the Company shall file all
         reports required to be filed with the SEC pursuant to the 1934 Act, and
         the Company shall not terminate its status as an issuer required to
         file reports under the 1934 Act even if the 1934 Act or the rules and
         regulations thereunder would otherwise permit such termination.

                  d. Use of Proceeds. The Company will use the proceeds from the
         sale of the Series B Preferred Shares for substantially the same
         purposes and in substantially the same amounts as indicated in Schedule
         4(d).

                  e. Financial Information. The Company agrees to send the
         following to each Buyer during the Registration Period: (i) within five
         (5) days after the filing thereof with the SEC, a copy of its Annual
         Reports on Form 10-KSB, its Quarterly Reports on Form 10-QSB, any
         Current Reports on Form 8-KSB and any registration statements or
         amendments filed pursuant to the 1933 Act; (ii) within one (1) day
         after release thereof, copies of all press releases issued by the
         Company or any of its subsidiaries and (ii) copies of the same notices
         and other information given to the stockholders of the Company
         generally, contemporaneously with the giving thereof to the
         stockholders.

                  f. Reservation of Shares. The Company shall take all action
         necessary to at all times have authorized, and reserved for the purpose
         of issuance, no less than 100% of the number of shares of Common Stock
         needed to provide for the issuance of the Conversion Shares and Warrant
         Shares; provided that all shares of the Common Stock authorized and not
         otherwise reserved for other purposes as of the date hereof shall be
         reserved for the purpose of issuance of the Conversion Shares.

                  g. Listings. The Company shall promptly secure the listing of
         all Registrable Securities (as defined in the Registration Rights
         Agreement) upon each national securities exchange or automated
         quotation system, if any, upon which shares of Common Stock are then
         listed (subject to official notice of issuance) and shall maintain, so
         long as any other shares of Common Stock shall be so listed, such
         listing of all Conversion Shares from time to time issuable under the
         terms of this Agreement and the Registration Rights Agreement. The
         Company shall maintain the Common Stock's authorization for quotation
         in the over-the counter market. The Company shall promptly provide to
         each Buyer copies of any notices it receives regarding the continued
         eligibility of the Common Stock for trading on the Nasdaq SmallCap
         Market.

                                       10
<PAGE>   11
                  h. Expenses. Each of the Company and the Buyer shall pay all
         costs and expenses incurred by such party in connection with the
         negotiation, investigation, preparation, execution and delivery of this
         Agreement and the Registration Rights Agreement.

                  i. Warrant Issuances. [INTENTIONALLY LEFT BLANK]

                  j. No Short Sales of the Common Stock. So long as (i) a Buyer
         or any of its affiliates beneficially owns any of Series B Preferred
         Shares, (ii) the Company has not issued any publicly traded convertible
         securities and (iii) the Issuer is not in material default under the
         terms of the Series B Preferred Shares, each Buyer and its affiliates
         shall not directly or indirectly engage in any short sales or third
         party short sales of the Company's Common Stock or hold a "put
         equivalent position" with respect to the Common Stock (as defined in
         Rule 16a-1 under the 1934 Act). A short sale "or put equivalent
         position" shall not be deemed to have occurred if there is an
         offsetting long position in the Common Stock by way of conversion of
         any convertible securities of the Company or any Put Notice pursuant to
         any private equity credit agreement with the Buyer. Notwithstanding the
         foregoing restrictions on short sales, the foregoing restrictions shall
         not apply in the event that there is a material adverse change with
         respect to the Company which is likely to lead to the liquidation or
         bankruptcy of the Company.

                  k. Right of First Refusal. The Company agrees to provide the
         Buyer with a right of first refusal with respect to subsequent
         financings, as follows: The Company shall not, without the prior
         written consent of the Buyer (which consent shall not be unreasonably
         withheld) sell any of its equity securities in a transaction intended
         to be exempt or not subject to registration under the Securities Act (a
         "Subsequent Placement") until June ___, 2001 other than (v) the
         granting of options or warrants to employees, consultants, officers and
         directors, and the issuance of shares upon exercise of options granted,
         under any stock option plan heretofore or hereinafter duly adopted by
         the Company, (w) shares of Common Stock issuable upon exercise of
         currently outstanding options and warrants and upon conversion of any
         currently outstanding convertible securities of the Company, (x) shares
         of Common Stock issuable upon conversion of the Series A or B Preferred
         Shares or any warrants issued in connection therewith, (y) any
         transaction for the primary benefit of any person or entity other than
         the Company such as Electronic Medical Distribution, Inc. or any other
         subsidiary or affiliate of the Company and (z) shares of Common Stock
         and other securities issued (i) in connection with mergers and
         acquisitions and (ii) to strategic investors, unless (A) the Company
         delivers to the Buyer a written notice (the "Subsequent Placement
         Notice") of its intention to effect such Subsequent Placement, which
         Subsequent Placement Notice shall describe in reasonable detail the
         proposed terms of such Subsequent Placement, the amount of proceeds
         intended to be raised thereunder, the entity with which such Subsequent
         Placement shall be effected, and attached to which shall be a term
         sheet or similar document relating thereto and (B) the Buyer shall not
         have notified the Company by 5:30 p.m. (New York City time) on the
         third business day after the delivery of the Subsequent Placement
         Notice of its willingness to provide financing to the Company on the
         same terms set forth in the Subsequent Placement Notice. If the Buyer
         shall notify the Company of its

                                       11
<PAGE>   12
         willingness to so provide financing on such terms, the Buyer shall
         provide such financing, but the Company shall not be required in any
         event to accept financing from the Buyer in an amount less than or in
         excess of the amount set forth in the Subsequent Placement Notice. If
         the Buyer shall fail to notify the Company of its intention to provide
         such financing, the Company may effect the Subsequent Placement
         substantially upon the terms and to the entity or entities (or
         affiliates thereof) set forth in the Subsequent Placement Notice;
         provided, that the Company shall provide the Buyer with a second
         Subsequent Placement Notice, and the Buyer shall again have the right
         of first refusal as herein set forth, if the Subsequent Placement
         subject to the initial Subsequent Placement Notice shall not have been
         consummated for any reason on the terms set forth in such Subsequent
         Placement Notice within sixty business days after the date of the
         initial Subsequent Placement Notice].

         5. TRANSFER AGENT INSTRUCTIONS.

         The Company shall issue irrevocable instructions to its transfer agent
to issue certificates, registered in the name of the Buyer or its respective
nominee(s), for the Conversion Shares and Warrant Shares in such amounts as
specified from time to time by the Buyer to the Company upon conversion of the
Series B Preferred Shares or exercise of the Warrants (the "IRREVOCABLE TRANSFER
AGENT INSTRUCTIONS"). Prior to registration of the Conversion Shares and Warrant
Shares under the 1933 Act, all such certificates shall bear the restrictive
legend specified in Section 2(g) of this Agreement. The Company warrants that no
instruction other than the Irrevocable Transfer Agent Instructions referred to
in this Section 5, and stop transfer instructions to give effect to Section 2(g)
hereof (in the case of the Conversion Shares and Warrant Shares, prior to
registration of such shares under the 1933 Act) will be given by the Company to
its transfer agent and that the Series B Preferred Shares, the Conversion
Shares, the Warrants, and the Warrant Shares shall otherwise be freely
transferable on the books and records of the Company as and to the extent
provided in this Agreement and the Registration Rights Agreement. Nothing in
this Section 5 shall affect in any way the Buyer's obligations and agreement to
comply with all applicable securities laws upon resale of the Series B Preferred
Shares, the Conversion Shares, the Warrants, and the Warrant Shares. If the
Buyer provides the Company with an opinion of counsel, satisfactory in form and
substance to the Company, that registration of a resale by the Buyer of any of
the Series B Preferred Shares, the Conversion Shares, the Warrants, or the
Warrant Shares is not required under the 1933 Act, the Company shall permit the
transfer, and, in the case of the Conversion Shares or the Warrant Shares,
promptly instruct its transfer agent to issue one or more certificates in such
name and in such denominations as specified by the Buyer.

         6. CONDITIONS TO THE COMPANY'S OBLIGATION TO SELL.

         The obligation of the Company hereunder to issue and sell the Series B
Preferred Shares to the Buyer at the Closing is subject to the satisfaction, at
or before the Closing Date, of each of the following conditions, provided that
these conditions are for the Company's sole benefit and may be waived by the
Company at any time in its sole discretion:

                  a. The Buyer shall have executed this Agreement and the
         Registration Rights Agreement and delivered the same to the Company.

                                       12
<PAGE>   13
                  b. The Amendment shall have been filed with the Secretary of
         State of the State of Georgia.

                  c. The Buyer shall have delivered to the Company the Purchase
         Price for the Series B Preferred Shares being purchased by the Buyer at
         the Closing by wire transfer of immediately available funds pursuant to
         the wire instructions provided by the Company.

                  d. The representations and warranties of the Buyer shall be
         true and correct in all material respects as of the date when made and
         as of the Closing Date as though made at that time (except for
         representations and warranties that speak as of a specific date), and
         the Buyer shall have performed, satisfied and complied in all material
         respects with the covenants, agreements and conditions required by this
         Agreement to be performed, satisfied or complied with by the Buyer at
         or prior to the Closing Date.

         7. CONDITIONS TO THE BUYER'S OBLIGATION TO PURCHASE.

         The obligation of the Buyer hereunder to purchase the Series B
Preferred Shares at the Closing is subject to the satisfaction, at or before the
Closing Date, of each of the following conditions, provided that these
conditions are for the Buyer's sole benefit and may be waived by the Buyer at
any time in its sole discretion:

                  a. The Company shall have executed this Agreement and the
         Registration Rights Agreement, and delivered the same to the Buyer.

                  b. The Common Stock shall be authorized for quotation on the
         Nasdaq SmallCap Market and trading in the Common Stock shall not have
         been suspended for any reason and all of the Conversion Shares issuable
         upon conversion of the Series B Preferred Shares shall be approved for
         listing.

                  c. The representations and warranties of the Company shall be
         true and correct in all material respects (except to the extent that
         any of such representations and warranties is already qualified as to
         materiality in Section 3 above, in which case, such representations and
         warranties shall be true and correct without further qualification) as
         of the date when made and as of the Closing Date as though made at that
         time (except for representations and warranties that speak as of a
         specific date) and the Company shall have performed, satisfied and
         complied in all material respects with the covenants, agreements and
         conditions required by this Agreement to be performed, satisfied or
         complied with by the Company at or prior to the Closing Date. The Buyer
         shall have received a certificate, executed by the Chief Executive
         Officer of the Company, dated as of the Closing Date, to the foregoing
         effect and as to such other matters as may be reasonably requested by
         the Buyer including, without limitation an update as of the Closing
         Date regarding the representation contained in Section 3(c) above.

                                       13
<PAGE>   14
                  d. The Buyer shall have received the opinion of the Company's
         counsel dated as of the Closing Date, in form, scope and substance
         reasonably satisfactory to the Buyer and in substantially the form of
         Exhibit "D" attached hereto.

                  e. The Company shall have executed and delivered to the Buyer
         the Certificates (in such denominations as the Buyer shall request) for
         the Series B Preferred Shares being purchased by the Buyer at the
         Closing.

                  f. The Board of Directors of the Company shall have adopted
         the resolutions in substantially the form of Exhibit "E" attached
         hereto.

                  g. As of the Closing Date, the Company shall as of the Closing
         Date have reserved out of its authorized and unissued Common Stock,
         solely for the purpose of effecting the conversion of the Series B
         Preferred Shares, such number of shares of Common Stock equal to or
         greater than 100% of the number of shares of Common Stock for which are
         issuable upon conversion of all of the Series B Preferred Shares, and
         the Warrant Shares could be issued at any time under this Agreement.

                  h. The Irrevocable Transfer Agent Instructions, in form and
         substance satisfactory to the Buyer, shall have been delivered to and
         acknowledged in writing by the Company's transfer agent.

         8. INDEMNIFICATION.

         In consideration of the Buyer's execution and delivery of this
Agreement and acquiring the Series B Preferred Shares, the Conversion Shares,
and the Warrants, and the Warrant Shares hereunder and in addition to all of the
Company's other obligations under this Agreement, the Company shall defend,
protect, indemnify and hold harmless the Buyer and each other holder of the
Series B Preferred Shares, the Conversion Shares, and the Warrants, and the
Warrant Shares and all of their officers, directors, employees and agents
(including, without limitation, those retained in connection with the
transactions contemplated by this Agreement) (collectively, the "INDEMNITEES")
from and against any and all actions, causes of action, suits, claims, losses,
costs, penalties, fees, liabilities and damages, and expenses in connection
therewith (irrespective of whether any such Indemnitee is a party to the action
for which indemnification hereunder is sought), and including reasonable
attorneys' fees and disbursements (the "INDEMNIFIED LIABILITIES"), incurred by
the Indemnitees or any of them as a result of, or arising out of, or relating to
(a) any misrepresentation or breach of any representation or warranty made by
the Company in this Agreement, the Series B Preferred Shares, the Warrants, or
the Registration Rights Agreement or any other certificate, instrument or
document contemplated hereby or thereby, (b) any breach of any covenant,
agreement or obligation of the Company contained in this Agreement, the
Certificate of Designations, the Warrants, or the Registration Rights Agreement
or any other certificate, instrument or document contemplated hereby or thereby,
or (c) any cause of action, suit or claim brought or made against such
Indemnitee and arising out of or resulting from the execution, delivery,
performance or enforcement of this Agreement or any other instrument, document
or agreement executed pursuant hereto by any of the Indemnities, any transaction
financed or to be financed in whole or in part,

                                       14
<PAGE>   15
         directly or indirectly, with the proceeds of the issuance of the Series
         B Preferred Shares or the status of the Buyer or holder of the Series B
         Preferred Shares, the Warrants, or the Conversion Shares or the Warrant
         Shares, as an investor in the Company, except for any Indemnified
         Liability which directly or primarily results from the particular
         Indemnitee's gross negligence or willful misconduct for which such
         holder shall indemnify the Company in the same manner as provided in
         this Section 8. To the extent that the foregoing undertaking by the
         Company may be unenforceable for any reason, the Company shall make the
         maximum contribution to the payment and satisfaction of each of the
         Indemnified Liabilities which is permissible under applicable law.

         9. GOVERNING LAW: MISCELLANEOUS.

                  a. Governing Law. This Agreement shall be governed by and
         interpreted in accordance with the laws of the State of Georgia without
         regard to the principles of conflict of laws. Any dispute or
         controversy between the parties arising in connection with this
         agreement or the subject matter contemplated by this agreement shall be
         resolved by arbitration before a three-member panel of the American
         Arbitration Association in accordance with the commercial arbitration
         rules of said forum and the Federal Arbitration Act, 9 U.S.C. 1 et
         seq., with the resulting award being final and conclusive. Said
         arbitrators shall be empowered to award all forms of relief and damages
         claimed, including, but not limited to, attorney's fees, expenses of
         litigation and arbitration, exemplary damages, and prejudgment
         interest. Notwithstanding the foregoing, Buyer may at any time and at
         its option, whether or not an arbitration action is then pending,
         initiate a civil action for temporary and permanent injunctive and
         other equitable relief against Company. Company acknowledges that upon
         any breach of Buyer's conversion rights hereunder, Buyer's resulting
         injury may not be adequately compensated by a remedy at law.
         Accordingly, upon such breach, Buyer, at its election and without
         limitation of its other remedies, shall be entitled to pursue a claim
         for specific performance of this Agreement, and Company hereby waives
         the right to assert any defense thereto that Purchaser has an adequate
         remedy at law. The parties further agree that any arbitration action
         between them shall be heard in Atlanta, Georgia, and expressly consent
         to the jurisdiction and venue of the Superior Court of Fulton County,
         Georgia, and the United States District Court for the Northern District
         of Georgia, Atlanta Division for the adjudication of any civil action
         asserted pursuant to this Paragraph.

                  b. Counterparts. This Agreement may be executed in two or more
         identical counterparts, all of which shall be considered one and the
         same agreement and shall become effective when counterparts have been
         signed by each party and delivered to the other party. In the event any
         signature page is delivered by facsimile transmission, the party using
         such means of delivery shall cause four (4) additional original
         executed signature pages to be physically delivered to the other party
         within five (5) days of the execution and delivery hereof.

                  c. Headings. The headings of this Agreement are for
         convenience of reference and shall not form part of, or affect the
         interpretation of, this Agreement.

                                       15
<PAGE>   16
                  d. Severability. If any provision of this Agreement shall be
         invalid or unenforceable in any jurisdiction, such invalidity or
         unenforceability shall not affect the validity or enforceability of the
         remainder of this Agreement in that jurisdiction or the validity or
         enforceability of any provision of this Agreement in any other
         jurisdiction.

                  e. Entire Agreement, Amendments. This Agreement supersedes all
         other prior oral or written agreements between the Buyer, the Company,
         their affiliates and persons acting on their behalf with respect to the
         matters discussed herein, and this Agreement and the instruments
         referenced herein contain the entire understanding of the parties with
         respect to the matters covered herein and therein and, except as
         specifically set forth herein or therein, neither the Company nor any
         Buyer makes any representation, warranty, covenant or undertaking with
         respect to such matters. No provision of this Agreement may be waived
         or amended other than by an instrument in writing signed by the party
         to be charged with enforcement.

                  f. Notices. Any notices, consents, waivers, or other
         communications required or permitted to be given under the terms of
         this Agreement must be in writing and will be deemed to have been
         delivered (i) upon receipt, when delivered personally; (ii) upon
         receipt, when sent by facsimile, provided a copy is mailed by U.S.
         certified mail, return receipt requested; (iii) three (3) days after
         being sent by U.S. certified mail, return receipt requested, or (iv)
         one (1) day after deposit with a nationally recognized overnight
         delivery service, in each case properly addressed to the party to
         receive the same. The addresses and facsimile numbers for such
         communications shall be:

                  If to the Company:

                  5655 Peachtree Parkway
                  Atlanta, Georgia 30092
                  Attn: Chief Financial Officer

                  Telephone:    (770) 246-2000
                  Facsimile:    (770) 368-0784

                  With a copy to (which shall not constitute notice):

                  Raymond L. Moss, Esq.
                  Sims Moss Kline & Davis LLP
                  400 Northpark Town Center, Suite 310
                  1000 Abernathy Road, N.E.
                  Atlanta, Georgia 30328

                  Telephone:    (770) 481-7201
                  Facsimile:    (770) 481-7210

                  If to the Transfer Agent:

                                       16
<PAGE>   17
                  American Stock Transfer
                  40 Wall Street
                  New York, New York  10005
                  Attn: Wallace Chun

                  Telephone:    (718) 921-8206
                  Facsimile:    (718) 921-8336

         If to the Buyer, to its address and facsimile number on the Schedule of
         Buyers, with copies to the Buyer's counsel as set forth on the Schedule
         of Buyers. Each party shall provide five (5) days' prior written notice
         to the other party of any change in address or facsimile number.

                g. Successors and Assigns. This Agreement shall be binding upon
         and inure to the benefit of the parties and their respective successors
         and assigns. The Company shall not assign this Agreement or any rights
         or obligations hereunder without the prior written consent of the
         Buyer. The Buyer may assign its rights hereunder without the consent of
         the Company, provided, however, that the Company is given written
         notice by such holder at the time of such transfer, stating the name
         and address of such transferee and any such assignment shall not
         release the Buyer from its obligations hereunder unless such
         obligations are assumed by such assignee and the Company has consented
         to such assignment and assumption.

                h. No Third Party Beneficiaries. This Agreement is intended for
         the benefit of the parties hereto and their respective permitted
         successors and assigns, and is not for the benefit of, nor may any
         provision hereof be enforced by, any other person.

                i. Survival. The representations and warranties of the Company
         and the Buyer contained in Sections 2 and 3, the agreements and
         covenants set forth in Sections 4, 5 and 9, and the indemnification
         provisions set forth in Section 8 shall survive for a period of one
         year following the Closing. The Buyer shall be responsible only for its
         own representations, warranties, agreements and covenants hereunder.

                j. Publicity. The Company and the Buyer shall have the right to
         approve before issuance any press releases or any other public
         statements with respect to the transactions contemplated hereby;
         provided, however, that the Company shall be entitled, without the
         prior approval of the Buyer, to make any press release or other public
         disclosure with respect to such transactions as is required by
         applicable law and regulations (although the Buyer shall be consulted
         by the Company in connection with any such press release or other
         public disclosure prior to its release and shall be provided with a
         copy thereof).

                k. Further Assurances. Each party shall do and perform, or cause
         to be done and performed, all such further acts and things, and shall
         execute and deliver all such other agreements, certificates,
         instruments and documents, as the other party may reasonably

                                       17
<PAGE>   18
         request in order to carry out the intent and accomplish the purposes of
         this Agreement and the consummation of the transactions contemplated
         hereby.

                1. Termination. In the event that the Closing shall not have
         occurred with respect to the Buyer on or before five (5) business days
         from the date hereof due to the Company's or the Buyer's failure to
         satisfy the conditions set forth in Sections 6 and 7 above (and the
         nonbreaching party's failure to waive such unsatisfied condition(s)),
         the nonbreaching party shall have the option to terminate this
         Agreement with respect to such breaching party at the close of business
         on such date without liability of any party to any other party.

                m. Placement Agent. The Company acknowledges that it has engaged
         J.P. Carey Securities, Inc. and Greenfield Capital Partners, LLC as
         agents in connection with the sale of the Series B Preferred Shares
         (the "Placement Agents"). The Company shall be responsible for the
         payment of any finder's fees (which includes cash and warrants to
         purchase Common Stock) relating to or arising out of the transactions
         contemplated hereby.

                n. No Strict Construction. The language used in this Agreement
         will be deemed to be the language chosen by the parties to express
         their mutual intent, and no rules of strict construction will be
         applied against any party.

                o. Independent Counsel. The parties to this Agreement
         acknowledge that the Company has received independent counsel form the
         law firm of Sims Moss Kline & Davis LLP which is acting as its counsel.
         Buyers and the Placement Agents have been advised by Sims Moss Kline &
         Davis LLP to seek independent advice with respect to the terms and
         conditions of this Agreement and any related agreements before signing
         them.

         10. PUBLICITY.

         The Company agrees that it will not issue any press release or other
public announcement of the transactions contemplated by this Agreement without
the prior consent of the Buyer, which shall not be unreasonably withheld nor
delayed by more than two trading days from its receipt of such proposed release;
provided, however, that if the Company is advised by its outside counsel that it
is required by law or the applicable rules of any Principal Market to issue any
such press release or public announcement, then, it may do so without the prior
consent of the Buyer, although it shall be required to provide prior notice
(which may be by telephone) to the Buyer that it intends to issue such press
release or public announcement. No release shall name the Buyer without its
express consent.

                      REMAINDER OF PAGE INTENTIONALLY BLANK

                                       18
<PAGE>   19
         IN WITNESS WHEREOF, the Buyer and the Company have caused this
Securities Purchase Agreement to be duly executed as of the date first written
above.

                                    "COMPANY"
                                    BIOSHIELD TECHNOLOGIES, INC.

                                    By: ______________________________________
                                    Name: Timothy C. Moses
                                    Its:  Chairman of the Board and Chief
                                          Executive Officer

                                    "BUYER"
                                    WILSON LLC

                                     By: ______________________________________
                                     Name: ____________________________________
                                     Title:____________________________________

                                       19
<PAGE>   20
                               SCHEDULE OF BUYERS
<TABLE>
<CAPTION>

                                                                  NUMBER OF SERIES B
BUYER'S NAME          ADDRESS/FACSIMILE NUMBER OF BUYER            PREFERRED SHARES
------------          ---------------------------------           ------------------
<S>                   <C>                                         <C>
WILSON LLC            c/o Citco Trustees (Cayman) Ltd.                  500
                      Attn: David Sims
                      Corporate Centre, Windwood One
                      West Bay Road
                      P.O. Box 31106 SMB
                      Grand Cayman, Cayman Islands
                      284-494-4771
</TABLE>
<PAGE>   21
                                  SCHEDULE 3(c)

                                 Capitalization
<PAGE>   22
                                  SCHEDULE 3(e)

                                    Conflicts

         None.
<PAGE>   23
                                  SCHEDULE 3(f)

                              Financial Statements

     Reference is made to all public filings made by the Company with the SEC
available at http://www.sec.gov/.
<PAGE>   24
                                  SCHEDULE 3(h)

                                   Litigation

          None.
<PAGE>   25
                                  SCHEDULE 3(n)

                              Intellectual Property

None.
<PAGE>   26
                                  SCHEDULE 3(n)

                                      Liens

None.
<PAGE>   27
                                  SCHEDULE 3(p)

                                   Tax Status

None.
<PAGE>   28
                                  SCHEDULE 4(d)

                                 Use of Proceeds

Working capital.
<PAGE>   29
                                    EXHIBIT A

                     Amendment to Articles of Incorporation

See Tab 2.
<PAGE>   30
                                    EXHIBIT B

                          Registration Rights Agreement

See Tab 3.
<PAGE>   31
                                    EXHIBIT C

                                Warrant Agreement

See Tab 4.
<PAGE>   32
                                    EXHIBIT D

                                  Legal Opinion

See Tab 6.
<PAGE>   33
                                    EXHIBIT E

                                Board Resolutions

See attached.<PAGE>   1
                                                                   Exhibit 10.87

                          REGISTRATION RIGHTS AGREEMENT

         REGISTRATION RIGHTS AGREEMENT (this "AGREEMENT"), dated as of June 14,
2000, by and among BioShield Technologies, Inc., a Georgia corporation, with
headquarters at 5655 Peachtree Parkway, Atlanta, Georgia 30092 (the "COMPANY"),
and the undersigned buyer (the "BUYER" OR "BUYERS").

         WHEREAS:

         A. In connection with the Securities Purchase Agreement by and among
the parties of even date herewith (the "SECURITIES PURCHASE AGREEMENT"), the
Company has agreed, upon the terms and subject to the conditions of the
Securities Purchase Agreement, to issue and sell to the Buyer (i) 500 shares of
the Company's Series B Convertible Preferred Stock (the "PREFERRED STOCK"),
which will be convertible into shares of the Company's common stock, no par
value per share (the "COMMON STOCK") (as converted, the "CONVERSION SHARES") in
accordance with the terms of (i) the Company's Amendments to its Articles of
Incorporation (the "ARTICLES") and (ii) warrants (the "Warrants") to purchase
79,281 shares of Common Stock (as converted the "Warrant Shares"); and

         B. To induce the Buyers to execute and deliver the Securities Purchase
Agreement, the Company has agreed to provide certain registration rights under
the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute (collectively, the "1933 ACT"), and
applicable state securities laws:

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Buyers hereby agree as follows:

         1. DEFINITIONS.

         As used in this Agreement, the following terms shall have the following
meanings:

                  a. "INVESTOR" means the Buyer and any transferee or assignee
         thereof to whom the Buyer assigns its rights under this Agreement and
         who agrees to become bound by the provisions of this Agreement in
         accordance with Section 9.

                  b. "PERSON" means a corporation, a limited liability company,
         an association, a partnership, an organization, a business, an
         individual, a governmental or political subdivision thereof or a
         governmental agency.

                  c. "REGISTER," "REGISTERED," and "REGISTRATION" refer to a
         registration effected by preparing and filing one or more Registration
         Statements in compliance with the 1933 Act and pursuant to Rule 415
         under the 1933 Act or any successor rule providing for offering
         securities on a continuous basis ("RULE 415"), and the declaration or
         ordering of
<PAGE>   2
         effectiveness of such Registration Statement(s) by the United States
         Securities and Exchange Commission (the "SEC").

                  d. REGISTRABLE SECURITIES" means the Conversion Shares and the
         Warrant Shares issued or issuable upon conversion of the Preferred
         Stock and exercise of the Warrants, respectively, and any shares of
         capital stock issued or issuable with respect to the Conversion Shares,
         the Preferred Stock or the Warrant Shares as a result of any stock
         split, stock dividend, recapitalization, exchange or similar event,
         excluding any dividend or distribution of the securities of Electronic
         Medical Distribution, Inc. or any other subsidiary or affiliate of the
         Company.

                  e. "REGISTRATION STATEMENT" means a registration statement of
         the Company filed under the 1933 Act.

         Capitalized terms used herein and not otherwise defined herein shall
have the respective meanings set for-the in the Securities Purchase Agreement.

         2. REGISTRATION.

                  a. Mandatory Registration. The Company shall prepare, and, on
         or prior to July 31, 2000 file (the "FILING DEADLINE") with the SEC a
         Registration Statement or Registration Statements (as is necessary) on
         Form S-3 (or, if such form is unavailable for such a registration, on
         such other form as is available for such a registration, subject to the
         consent of each Buyer and the provisions of Section 2(e), which consent
         will not be unreasonably withheld), covering the resale of all of the
         Registrable Securities, which Registration Statement(s) shall state
         that, in accordance with Rule 416 promulgated under the 1933 Act, such
         Registration Statement(s) also covers such indeterminate number of
         additional shares of Common Stock as may become issuable upon
         conversion of the Preferred Stock to prevent dilution resulting from
         stock splits, stock dividends or similar transactions. Such
         Registration Statement shall initially register for resale at least
         1,500,000 shares of Common Stock, subject to adjustment as provided in
         Section 3(b), and such registered shares of Common Stock shall be
         allocated among the Investors pro rata based on the total number of
         Registrable Securities issued or issuable as of each date that a
         Registration Statement, as amended, relating to the resale of the
         Registrable Securities is declared effective by the SEC. The Company
         shall use its best efforts to have the Registration Statement declared
         effective by the SEC within ninety (90) days after the issuance of the
         Preferred Stock (the "REGISTRATION DEADLINE"). The Company shall permit
         the registration statement to become effective within five (5) business
         days after receipt of a "no review" notice from the SEC. If the
         Registration Statement has not been filed by the Filing Deadline or the
         Registration Statement is not declared effective by the Registration
         Deadline, then the Company will be required to pay the Buyers upon
         demand in cash an amount equal to (i) 1.5% of the face amount of the
         unredeemed Preferred Stock for the first thirty (30) days and (ii) 3.0%
         of the face amount of the unredeemed Preferred Stock for every thirty
         days thereafter that the Filing Deadline or Registration Deadline is
         late.

                                       2
<PAGE>   3
                  b. Underwritten Offering. If any offering pursuant to a
         Registration Statement pursuant to Section 2(a) involves an
         underwritten offering, the Buyers shall have the right to select one
         legal counsel and an investment banker or bankers and manager or
         managers to administer their interest in the offering, which investment
         banker or bankers or manager or managers shall be reasonably
         satisfactory to the Company.

                  c. Piggy-Back Registrations. If at any time prior to the
         expiration of the Registration Period (as hereinafter defined) the
         Company proposes to file with the SEC a Registration Statement relating
         to an offering for its own account or the account of others under the
         1933 Act of any of its securities (other than on Form S-4 or Form S-8
         or their then equivalents relating to securities to be issued solely in
         connection with any acquisition of any entity or business or equity
         securities issuable in connection with stock option or other employee
         benefit plans) the Company shall promptly send to each Investor who is
         entitled to registration rights under this Section 2(c) written notice
         of the Company's intention to file a Registration Statement and of such
         Investor's rights under this Section 2(c) and, if within twenty (20)
         days after receipt of such notice, such Investor shall so request in
         writing, the Company shall include in such Registration Statement all
         or any part of the Registrable Securities such Investor requests to be
         registered, subject to the priorities set forth in Section 2(d) below.
         No right to registration of Registrable Securities under this Section
         2(c) shall be construed to limit any registration required under
         Section 2(a). The obligations of the Company under this Section 2(c)
         may be waived by Investors holding a majority of the Registrable
         Securities. If an offering in connection with which an Investor is
         entitled to registration under this Section 2(c) is an underwritten
         offering, then each Investor whose Registrable Securities are included
         in such Registration Statement shall, unless otherwise agreed by the
         Company, offer and sell such Registrable Securities in an underwritten
         offering using the same underwriter or underwriters and, subject to the
         provisions of this Agreement, on the same terms and conditions as other
         shares of Common Stock included in such underwritten offering.

                  d. Priority in Piggy-Back Registration Rights in connection
         with Registrations or Company Account. If the registration referred to
         in Section 2(c) is to be an underwritten public offering for the
         account of the Company and the managing underwriter(s) advise the
         Company in writing, that in their reasonable good faith opinion,
         marketing or other factors dictate that a limitation on the number of
         shares of Common Stock which may be included in the Registration
         Statement is necessary to facilitate and not adversely affect the
         proposed offering, then the Company shall include in such registration:
         (1) first, all securities the Company proposes to sell for its own
         account, (2) second, up to the full number of securities proposed to be
         registered for the account of the holders of securities entitled to
         inclusion of their securities in the Registration Statement by reason
         of demand registration rights, and (3) third, the securities requested
         to be registered by the Investors and other holders of securities
         entitled to participate in the registration, drawn from them pro rata
         based on the number each has requested to be included in such
         registration.

         3. RELATED OBLIGATIONS.

                                       3
<PAGE>   4
         Whenever an Investor has requested that any Registrable Securities be
registered pursuant to Section 2(c) or at such time as the Company is obligated
to file a Registration Statement with the SEC pursuant to Section 2(a), the
Company will use its best efforts to effect the registration of the Registrable
Securities in accordance with the intended method of disposition thereof and,
pursuant thereto, the Company shall have the following obligations:

                  a. The Company shall promptly prepare and file with the SEC a
         Registration Statement with respect to the Registrable Securities (on
         or prior to July 31. 2000, for the registration of Registrable
         Securities pursuant to Section 2(a)) and use its best efforts to cause
         such Registration Statement(s) relating to Registrable Securities to
         become effective as soon as possible after such filing (by the
         ninetieth (90th) day following the issuance of the relevant Preferred
         Stock for the registration of Registrable Securities pursuant to
         Section 2(a), and keep the Registration Statement(s) effective pursuant
         to Rule 415 at all times until the earlier of (i) the date as of which
         the Investors may sell all of the Registrable Securities without
         restriction pursuant to Rule 144(k) promulgated under the 1933 Act (or
         successor thereto) or (ii) the date on which (A) the Investors shall
         have sold all the Registrable Securities and (B) none of the Preferred
         Stock is outstanding the period ending on such earlier date being
         referred to herein as (the "REGISTRATION PERIOD"), which Registration
         Statement(s) (including any amendments or supplements thereto and
         prospectuses contained therein) shall 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 light
         of the circumstances in which they were made, not misleading.

                  b. The Company shall prepare and file with the SEC such
         amendments (including post-effective amendments) and supplements to the
         Registration Statement(s) and the prospectus(es) used in connection
         with the Registration Statement(s), which prospectus(es) are to be
         filed pursuant to Rule 424 promulgated under the 1933 Act, as may be
         necessary to keep the Registration Statement(s) effective at all times
         during the Registration Period, and, during such period, comply with
         the provisions of the 1933 Act with respect to the disposition of all
         Registrable Securities of the Company covered by the Registration
         Statement(s) until such time as all of such Registrable Securities
         shall have been disposed of in accordance with the intended methods of
         disposition by the seller or sellers thereof as set forth in the
         Registration Statement(s). In the event the number of shares available
         under a Registration Statement filed pursuant to this Agreement is
         insufficient to cover all of the Registrable Securities, the Company
         shall amend the Registration Statement, or file a new Registration
         Statement (on the short form available therefor, if applicable), or
         both, so as to cover all of the Registrable Securities, in each case,
         as soon as practicable, but in any event within fifteen (15) days after
         the necessity therefor arises (based on the market price of the Common
         Stock and other relevant factors on which the Company reasonably elects
         to rely). The Company shall use its best efforts to cause such
         amendment and/or new Registration Statement to become effective as soon
         as practicable following the filing thereof. For purposes of the
         foregoing provision, the number of shares available under a
         Registration Statement shall be deemed "insufficient to cover all of
         the Registrable Securities" if at any time the number of Registrable
         Securities issued or issuable upon conversion of the Preferred Stock is
         greater than the quotient determined by dividing (i) the

                                       4
<PAGE>   5
         number of shares of Common Stock available for resale under such
         Registration Statement by (ii) 1.0. For purposes of the calculation set
         forth in the foregoing sentence, any restrictions on the convertibility
         of the Preferred Stock shall be disregarded and such calculation shall
         assume that the Preferred Stock are then convertible into shares of
         Common Stock at the then prevailing Conversion Rate (as defined in the
         Preferred Stock).

                  c. The Company shall furnish to each Investor whose
         Registrable Securities are included in the Registration Statement(s)
         and its legal counsel without charge (i) promptly after the same is
         prepared and filed with the SEC at least one copy of the Registration
         Statement and any amendment thereto, including financial statements and
         schedules, all documents incorporated therein by reference and all
         exhibits, the prospectus(es) included in such Registration Statement(s)
         (including each preliminary prospectus ) and, with regards to the
         Registration Statement, any correspondence by or on behalf of the
         Company to the SEC or the staff of the SEC and any correspondence from
         the SEC or the staff of the SEC to the Company or its representatives,
         (ii) upon the effectiveness of any Registration Statement, ten (10)
         copies of the prospectus included in such Registration Statement and
         all amendments and supplements thereto (or such other number of copies
         as such Investor may reasonably request) and (iii) such other
         documents, including any preliminary prospectus, as such Investor may
         reasonably request in order to facilitate the disposition of the
         Registrable Securities owned by such Investor.

                  d. The Company shall use reasonable efforts to (i) register
         and qualify the Registrable Securities covered by the Registration
         Statement(s) under such other securities or "blue sky" laws of such
         jurisdictions in the United States as any Investor reasonably requests,
         (ii) prepare and file in those jurisdictions, such amendments
         (including post-effective amendments) and supplements to such
         registrations and qualifications as may be necessary to maintain the
         effectiveness thereof during the Registration Period, (iii) take such
         other actions as may be necessary to maintain such registrations and
         qualifications in effect at all times during the Registration Period,
         and (iv) take all other actions reasonably necessary or advisable to
         quality the Registrable Securities for sale in such jurisdictions;
         provided, however, that the Company shall not be required in connection
         therewith or as a condition thereto to (a) qualify to do business in
         any jurisdiction where it would not otherwise be required to qualify
         but for this Section 3(d), (b) subject itself to general taxation in
         any such jurisdiction, or (c) file a general consent to service of
         process in any such jurisdiction. The Company shall promptly notify
         each Investor who holds Registrable Securities of the receipt by the
         Company of any notification with respect to the suspension of the
         registration or qualification of any of the Registrable Securities for
         sale under the securities or "blue sky" laws of any jurisdiction in the
         United States or its receipt of actual notice of the initiation or
         threatening of any proceeding for such purpose.

                  e. In the event Investors who hold a majority of the
         Registrable Securities being offered in the offering select
         underwriters for the offering, the Company shall enter into and perform
         its obligations under an underwriting agreement, in usual and customary
         form, including, without limitation, customary indemnification and
         contribution obligations, with the underwriters of such offering.

                                       5
<PAGE>   6
                  f. As promptly as practicable after becoming aware of such
         event, the Company shall notify each Investor in writing of the
         happening of any event, of which the Company has knowledge, as a result
         of which the prospectus included in a Registration Statement, as then
         in effect, includes an untrue statement of a material fact or omission
         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, and promptly prepare a supplement or
         amendment to the Registration Statement to correct such untrue
         statement or omission, and deliver ten (10) copies of such supplement
         or amendment to each Investor (or such other number of copies as such
         Investor may reasonably request). The Company shall also promptly
         notify each Investor in writing (i) when a prospectus or any prospectus
         supplement or post-effective amendment has been filed, and when a
         Registration Statement or any post-effective amendment has become
         effective (notification of such effectiveness shall be delivered to
         each Investor by facsimile on the same day of such effectiveness and by
         overnight mail) (ii) of any request by the SEC for amendments or
         supplements to a Registration Statement or related prospectus or
         related information, (iii) of the Company's reasonable determination
         that a post-effective amendment to a Registration Statement would be
         appropriate.

                  g. The Company shall use its best efforts to prevent the
         issuance of any stop order or other suspension of effectiveness of a
         Registration Statement, or the suspension of the qualification of any
         of the Registrable Securities for sale in any jurisdiction and, if such
         an order or suspension is issued, to obtain the withdrawal of such
         order or suspension at the earliest possible moment and to notify each
         Investor who holds Registrable Securities being sold (and, in the event
         of an underwritten offering, the managing underwriters) of the issuance
         of such order and the resolution thereof or its receipt of actual
         notice of the initiation or threat of any proceeding for such purpose.

                  h. The Company shall permit each Investor a single firm of
         counsel or such other counsel as thereafter designated as selling
         stockholders' counsel by the Investors who hold a majority of the
         Registrable Securities being sold, to review and comment upon the
         Registration Statement(s) and all amendments and supplements thereto at
         least five (5) days prior to their filing with the SEC, and not file
         any document in a form to which such counsel reasonably objects. The
         Company shall not submit a request for acceleration of the
         effectiveness of a Registration Statement(s) or any amendment or
         supplement thereto without the prior approval of such counsel, which
         consent shall not be unreasonably withheld.

                  i. At the request of the Investors who hold a majority of the
         Registrable Securities being sold, the Company shall furnish, on the
         date that Registrable Securities are delivered to an underwriter, if
         any, for sale in connection with the Registration Statement (i) if
         required by an underwriter, a letter, dated such date, from the
         Company's independent certified public accountants in form and
         substance as is customarily given by independent certified public
         accountants to underwriters in an underwritten public offering,
         addressed to the underwriters, and (ii) an opinion, dated as of such
         date, of counsel representing the Company for purposes of such
         Registration Statement, in form, scope and substance as is

                                       6
<PAGE>   7
         customarily given in an underwritten public offering, addressed to the
         underwriters and the Investors.

                  j. The Company shall make available for inspection by (i) any
         Investor, (ii) any underwriter participating in any disposition
         pursuant to a Registration Statement, (iii) one firm of attorneys and
         one firm of accountants or other agents retained by the Investors, and
         (iv) one firm of attorneys retained by all such underwriters
         (collectively, the "INSPECTORS") all pertinent financial and other
         records, and pertinent corporate documents and properties of the
         Company (collectively, the "RECORDS"), as shall be reasonably deemed
         necessary by each Inspector to enable each Inspector to exercise its
         due diligence responsibility, and cause the Company's officers,
         directors and employees to supply all information which any Inspector
         may reasonably request for purposes of such due diligence provided,
         however, that each Inspector shall hold in strict confidence and shall
         not make any disclosure (except to an Investor) or use of any Record or
         other information which the Company determines in good faith to be
         confidential, and of which determination the Inspectors are so
         notified, unless (a) the disclosure of such Records is necessary to
         avoid or correct a misstatement or omission in any Registration
         Statement or is otherwise required under the 1933 Act, (b) the release
         of such Records is ordered pursuant to a final, non-appealable subpoena
         or order from a court or government body of competent jurisdiction, or
         (c) the information in such Records has been made generally available
         to the public other than by disclosure in violation of this or any
         other agreement. Each Investor agrees that it shall, upon learning that
         disclosure of such Records is sought in or by a court or governmental
         body of competent jurisdiction or through other means, give prompt
         notice to the Company and allow the Company, at its expense, to
         undertake appropriate action to prevent disclosure of, or to obtain a
         protective order for, the Records deemed confidential.

                  k. The Company shall hold in confidence and not make any
         disclosure of information concerning an Investor provided to the
         Company unless (i) disclosure of such information is necessary to
         comply with federal or state securities laws, (ii) the disclosure of
         such information is necessary to avoid or correct a misstatement or
         omission in any Registration Statement, (iii) the release of such
         information is ordered pursuant to a subpoena or other final,
         non-appealable order from a court or governmental body of competent
         jurisdiction, or (iv) such information has been made generally
         available to the public other than by disclosure in violation of this
         or any other agreement. The Company agrees that it shall, upon learning
         that disclosure of such information concerning an Investor is sought in
         or by a court or governmental body of competent jurisdiction or through
         other means, give prompt written notice to such Investor and allow such
         Investor, at the Investor's expense, to undertake appropriate action to
         prevent disclosure of, or to obtain a protective order for, such
         information.

                  l. The Company shall use its best efforts either to (i) cause
         all the Registrable Securities covered by a Registration Statement to
         be listed on each national securities exchange on which securities of
         the same class or series issued by the Company are then listed, if any,
         if the listing of such Registrable Securities is then permitted under
         the rules of such exchange, (ii) to secure designation and quotation of
         all the Registrable Securities

                                       7
<PAGE>   8
         covered by the Registration Statement on the Nasdaq Small Cap System,
         or, (iii) if, despite the Company's best efforts to satisfy the
         preceding clause (iii), the Company is unsuccessful in satisfying the
         preceding clause (iv), to secure the inclusion for quotation on the
         over-the-counter market for such Registrable Securities, and, without
         limiting the generality of the foregoing, in the case of clause (iii)
         or (iv), to arrange for at least two market makers to register with the
         National Association of Securities Dealers, Inc. ("NASD") as such with
         respect to such Registrable Securities. The Company shall pay all fees
         and expenses in connection with satisfying its obligation under this
         Section 3(l).

                  m. The Company shall cooperate with the Investors who hold
         Registrable Securities being offered and, to the extent applicable, any
         managing underwriter or underwriters, to facilitate the timely
         preparation and delivery of certificates (not bearing any restrictive
         legend) representing the Registrable Securities to be offered pursuant
         to a Registration Statement and enable such certificates to be in such
         denominations or amounts, as the case may be, as the managing
         underwriter or underwriters, if any, or, if there is no managing
         underwriter or underwriters, the Investors may reasonably request and
         registered in such names as the managing underwriter or underwriters,
         if any, or the Investors may request. Not later than the date on which
         any Registration Statement registering the resale of Registrable
         Securities is declared effective, the Company shall deliver to its
         transfer agent instructions, accompanied by any reasonably required
         opinion of counsel, that permit sales of unlegended securities in a
         timely fashion that complies with then mandated securities settlement
         procedures for regular way market transactions.

                  n. The Company shall take all other reasonable actions
         necessary to expedite and facilitate disposition by the Investors of
         Registrable Securities pursuant to a Registration Statement.

                  o. The Company shall provide a transfer agent and registrar of
         all such Registrable Securities not later than the effective date of
         such Registration Statement.

                  p. If requested by the managing underwriters or an Investor,
         the Company shall immediately incorporate in a prospectus supplement or
         post-effective amendment such information as the managing underwriters
         and the Investors agree should be included therein relating to the sale
         and distribution of Registrable Securities, including, without
         limitation, information with respect to the number of Registrable
         Securities being sold to such underwriters, the purchase price being
         paid therefor by such underwriters and with respect to any other terms
         of the underwritten (or best efforts underwritten) offering of the
         Registrable Securities to be sold in such offering; make all required
         filings of such prospectus supplement or post-effective amendment as
         soon as notified of the matters to be incorporated in such prospectus
         supplement or post-effective amendment; and supplement or make
         amendments to any Registration Statement if requested by a shareholder
         or any underwriter of such Registrable Securities.

                  q. The Company shall use its best efforts to cause the
         Registrable Securities covered by the applicable Registration Statement
         to be registered with or approved by such

                                       8
<PAGE>   9
         other governmental agencies or authorities as may be necessary to
         consummate the disposition of such Registrable Securities.

                  r. The Company shall otherwise use its best efforts to comply
         with all applicable rules and regulations of the SEC in connection with
         any registration hereunder.

         4. OBLIGATIONS OF THE INVESTORS.

                  a. At least five (5) days prior to the first anticipated
         filing date of the Registration Statement, the Company shall notify
         each Investor in writing of the information the Company requires from
         each such Investor if such Investor elects to have any of such
         Investor's Registrable Securities included in the Registration
         Statement. It shall be a condition precedent to the obligations of the
         Company to complete the registration pursuant to this Agreement with
         respect to the Registrable Securities of a particular Investor that
         such Investor shall furnish to the Company such information regarding
         itself, the Registrable Securities held by it and the intended method
         of disposition of the Registrable Securities held by it as shall be
         reasonably required to effect the registration of such Registrable
         Securities and shall execute such documents in connection with such
         registration as the Company may reasonably request.

                  b. Each Investor by such Investor's acceptance of the
         Registrable Securities agrees to cooperate with the Company as
         reasonably requested by the Company in connection with the preparation
         and filing of the Registration Statement(s) hereunder, unless such
         Investor has notified the Company in writing of such Investor's
         election to exclude all of such Investor's Registrable Securities from
         the Registration Statement.

                  c. In the event Investors holding a majority of the
         Registrable Securities being registered determine to engage the
         services of an underwriter, each Investor agrees to enter into and
         perform such Investor's obligations under an underwriting agreement, in
         usual and customary form, including, without limitation, customary
         indemnification and contribution obligations, with the managing
         underwriter of such offering and take such other actions as are
         reasonably required in order to expedite or facilitate the disposition
         of the Registrable Securities, unless such Investor notifies the
         Company in writing of such Investor's election to exclude all of such
         Investor's Registrable Securities from the Registration Statement(s).

                  d. Each Investor agrees that, upon receipt of any notice from
         the Company of the happening of any event of the kind described in
         Section 3(g) or the first sentence of 3(f), such Investor will
         immediately discontinue disposition of Registrable Securities pursuant
         to the Registration Statement(s) covering such Registrable Securities
         until such Investor's receipt of the copies of the supplemented or
         amended prospectus contemplated by Section 3(g) or the first sentence
         of 3(f) and, if so directed by the Company, such Investor shall deliver
         to the Company (at the expense of the Company) or destroy all copies in
         such Investor's possession, of the prospectus covering such Registrable
         Securities current at the time of receipt of such notice.

                                       9
<PAGE>   10
                  e. No Investor may participate in any underwritten
         registration hereunder unless such Investor (i) agrees to sell such
         Investor's Registrable Securities on the basis provided in any
         underwriting arrangements approved by the Investors entitled hereunder
         to approve such arrangements, (ii) completes and executes all
         questionnaires, powers of attorney, indemnities, underwriting
         agreements and other documents reasonably required under the terms of
         such underwriting arrangements, and (iii) agrees to pay its pro rata
         share of all underwriting discounts and commissions.

         5. EXPENSES OF REGISTRATION.

         All reasonable expenses, other than underwriting discounts and
commissions, incurred in connection with registrations, filings or
qualifications pursuant to Sections 2 and 3, including, without limitation, all
registration, listing and qualifications fees, printers and accounting fees, and
fees and disbursements of counsel for the Company shall be borne by the Company.
The Investors shall bear the fees and disbursements of their counsel.

         6. INDEMNIFICATION

         In the event any Registrable Securities are included in a Registration
Statement under this Agreement:

                  a. To the fullest extent permitted by law, the Company will,
         and hereby does, indemnify, hold harmless and defend each Investor who
         holds such Registrable Securities, the directors, officers, partners,
         employees, agents and each Person, if any, who controls any Investor
         within the meaning of the 1933 Act or the Securities Exchange Act of
         1934, as amended (the "1934 ACT"), and any underwriter (as defined in
         the 1933 Act) for the Investors, and the directors and officers of, and
         each Person, if any, who controls, any such underwriter within the
         meaning of the 1933 Act or the 1934 Act (each, an "INDEMNIFIED
         PERSON"), against any losses, claims, damages, liabilities, judgments,
         fines, penalties, charges, costs, attorneys' fees, amounts paid in
         settlement or expenses, joint or several, (collectively, "CLAIMS")
         incurred in investigating, preparing or defending any action, claim,
         suit, inquiry, proceeding, investigation or appeal taken from the
         foregoing by or before any court or governmental, administrative or
         other regulatory agency, body or the SEC, whether pending or
         threatened, whether or not an indemnified party is or may be a party
         thereto ("INDEMNIFIED DAMAGES"), to which any of them may become
         subject insofar as such Claims (or actions or proceedings, whether
         commenced or threatened, in respect thereof) arise out of or are based
         upon: (i) any untrue statement or alleged untrue statement of a
         material fact in a Registration Statement or any post-effective
         amendment thereto or in any filing made in connection with the
         qualification of the offering under the securities or other "blue sky"
         laws of any jurisdiction in which Registrable Securities are offered
         ("BLUE SKY FILING"), or the omission or alleged omission to state a
         material fact required to be stated therein or necessary to make the
         statements therein, in light of the circumstances under which the
         statements therein were made, not misleading, (ii) any untrue statement
         or alleged untrue statement of a material fact contained in any
         preliminary prospectus if used prior to the effective date of such
         Registration Statement, or contained in the final prospectus (as

                                       10
<PAGE>   11
         amended or supplemented, if the Company files any amendment thereof or
         supplement thereto with the SEC) or the omission or alleged omission to
         state therein any material fact necessary to make the statements made
         therein, in light of the circumstances under which the statements
         therein were made, not misleading, or (iii) any violation or alleged
         violation by the Company of the 1933 Act, the 1934 Act, any other law,
         including, without limitation, any state securities law, or any rule or
         regulation thereunder relating to the offer or sale of the Registrable
         Securities pursuant to a Registration Statement (the matters in the
         foregoing clauses (i) through (iii) being, collectively, "VIOLATIONS").
         Subject to the restrictions set forth in Section 6(d) with respect to
         the number of legal counsel, the Company shall reimburse the Investors
         and each such underwriter or controlling person, promptly as such
         expenses are incurred and are due and payable, for any legal fees or
         other reasonable expenses incurred by them in connection with
         investigating or defending any such Claim. Notwithstanding anything to
         the contrary contained herein, the indemnification agreement contained
         in this Section 6(a): (i) shall not apply to a Claim arising out of or
         based upon a Violation which occurs in reliance upon and in conformity
         with information furnished in writing to the Company by any Indemnified
         Person or underwriter for such Indemnified Person expressly for use in
         connection with the preparation of the Registration Statement or any
         such amendment thereof or supplement thereto, if such prospectus was
         timely made available by the Company pursuant to Section 3(c); (ii)
         with respect to any preliminary prospectus, shall not inure to the
         benefit of any such person from whom the person asserting any such
         Claim purchased the Registrable Securities that are the subject thereof
         (or to the benefit of any person controlling such person) if the untrue
         statement or mission of material fact contained in the preliminary
         prospectus was corrected in the prospectus, as then amended or
         supplemented, if such prospectus was timely made available by the
         Company pursuant to Section 3(c), and the Indemnified Person was
         promptly advised in writing not to use the incorrect prospectus prior
         to the use giving rise to a violation and such Indemnified Person,
         notwithstanding such advice, used it; (iii) shall not be available to
         the extent such Claim is based on a failure of the Investor to deliver
         or to cause to be delivered the prospectus made available by the
         Company (i) and (iv) shall not apply to amounts paid in settlement of
         any Claim if such settlement is effected without the prior written
         consent of the Company, which consent shall not be unreasonably
         withheld. Such indemnity shall remain in full force and effect
         regardless of any investigation made by or on behalf of the Indemnified
         Person and shall survive the transfer of the Registrable Securities by
         the Investors pursuant to Section 9.

                  b. In connection with any Registration Statement in which an
         Investor is participating, each such Investor agrees to severally and
         not jointly indemnify, hold harmless and defend, to the same extent and
         in the same manner as is set forth in Section 6(a), the Company, each
         of its directors, each of its officers who signs the Registration
         Statement, each Person, if any, who controls the Company within the
         meaning of the 1933 Act or the 1934 Act (collectively and together with
         an Indemnified Person, an "INDEMNIFIED PARTY"), against any Claim or
         Indemnified Damages to which any of them may become subject, under the
         1933 Act, the 1934 Act or otherwise, insofar as such Claim or
         Indemnified Damages arise out of or are based upon any Violation, in
         each case to the extent, and only to the extent, that such Violation
         occurs in reliance upon and in conformity with written

                                       11
<PAGE>   12
         information furnished to the Company by such Investor expressly for use
         in connection with such Registration Statement; and, subject to Section
         6(d), such Investor will reimburse any legal or other expenses
         reasonably incurred by them in connection with investigating or
         defending any such Claim; provided, however, that the indemnity
         agreement contained in this Section 6(b) and Section 7 shall not apply
         to amounts paid in settlement of any Claim if such settlement is
         effected without the prior written consent of such Investor, which
         consent shall not be unreasonably withheld. Such indemnity shall remain
         in full force and effect regardless of any investigation made by or on
         behalf of such Indemnified Party and shall survive the transfer of the
         Registrable Securities by the Investors pursuant to Section 9.
         Notwithstanding anything to the contrary contained herein, the
         indemnification agreement contained in this Section 6(b) with respect
         to any preliminary prospectus shall not inure to the benefit of any
         Indemnified Party if the untrue statement or omission of material fact
         contained in the preliminary prospectus was corrected on a timely basis
         in the prospectus, as then amended or supplemented.

                  c. The Company shall be entitled to receive indemnities from
         underwriters, selling brokers, dealer managers and similar securities
         industry professionals participating in any distribution, to the same
         extent as provided above, with respect to information such persons so
         furnished in writing expressly for inclusion in the Registration
         Statement.

                  d. Promptly after receipt by an Indemnified Person or
         Indemnified Party under this Section 6 of notice of the commencement of
         any action or proceeding (including any governmental action or
         proceeding) involving a Claim such Indemnified Person or Indemnified
         Party shall, if a Claim in respect thereof is to be made against any
         indemnifying party under this Section 6, deliver to the indemnifying
         party a written notice of the commencement thereof, and the
         indemnifying party shall have the right to participate in, and, to the
         extent the indemnifying party so desires, jointly with any other
         indemnifying party similarly noticed, to assume control of the defense
         thereof with counsel mutually satisfactory to the indemnifying party
         and the Indemnified Person or the Indemnified Party, as the case may
         be; provided, however, that an Indemnified Person or Indemnified Party
         shall have the right to retain its own counsel with the fees and
         expenses to be paid by the indemnifying party, if, in the reasonable
         opinion of counsel retained by the indemnifying party, the
         representation by such counsel of the Indemnified Person or Indemnified
         Party and the indemnifying party would be inappropriate due to actual
         or potential differing interests between such Indemnified Person or
         Indemnified Party and any other party represented by such counsel in
         such proceeding. The Company shall pay reasonable fees for only one
         separate legal counsel for the Investors, which counsel shall be
         acceptable to the Company and such legal counsel shall be selected by
         the Investors holding a majority in interest of the Registrable
         Securities included in the Registration Statement to which the Claim
         relates. The Indemnified Party or Indemnified Person shall cooperate
         fully with the indemnifying party in connection with any negotiation or
         defense of any such action or claim by the indemnifying party and shall
         furnish to the indemnifying party all information reasonably available
         to the Indemnified Party or Indemnified Person which relates to such
         action or claim. The indemnifying party shall keep the Indemnified
         Party or Indemnified Person fully apprised at all times as to the
         status of the defense or any settlement negotiations with respect

                                       12
<PAGE>   13
         thereto. No indemnifying party shall be liable for any settlement of
         any action, claim or proceeding effected without its written consent,
         provided, however, that the indemnifying party shall not unreasonably
         withhold, delay or condition its consent. No indemnifying party shall,
         without the consent of the Indemnified Party or Indemnified Person,
         consent to entry of any judgment or enter into any settlement or other
         compromise which does not include as an unconditional term thereof the
         giving by the claimant or plaintiff to such Indemnified Party or
         Indemnified Person of a release from all liability in respect to such
         claim or litigation. Following indemnification as provided for
         hereunder, the indemnifying party shall be subrogated to all rights of
         the Indemnified Party or Indemnified Person with respect to all third
         parties, firms or corporations relating to the matter for which
         indemnification has been made. The failure to deliver written notice to
         the indemnifying party within a reasonable time of the commencement of
         any such action shall relieve such indemnifying party of any liability
         to the Indemnified Person or Indemnified Party under this Section 6.

                  e. The indemnity agreements contained herein shall be in
         addition to (i) any cause of action or similar right of the Indemnified
         Party or Indemnified Person against the indemnifying party or others,
         and (ii) any liabilities the indemnifying party may be subject to
         pursuant to the law.

         7. CONTRIBUTION.

         To the extent any indemnification by an indemnifying party is
prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable
under Section 6 to the fullest extent permitted by law; provided, however, that:
(i) no contribution shall be made under circumstances where the maker would not
have been liable for indemnification under the fault standards set forth in
Section 6; (ii) no seller of Registrable Securities guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any seller of Registrable Securities who was not
guilty of fraudulent misrepresentation; and (iii) contribution by any seller of
Registrable Securities shall be limited in amount to the net amount of proceeds
received by such seller from the sale of such Registrable Securities.

         8. REPORTS UNDER THE 1934 ACT.

         With a view to making available to the Investors the benefits of Rule
144 promulgated under the 1933 Act or any other similar rule or regulation of
the SEC that may at any time permit the investors to sell securities of the
Company to the public without registration ("RULE 144"), the Company agrees to:

                  a. make and keep public information available, as those terms
         are understood and defined in Rule 144;

                  b. file with the SEC in a timely manner all reports and other
         documents required of the Company under the 1933 Act and the 1934 Act
         so long as the Company remains

                                       13
<PAGE>   14
         subject to such requirements (it being understood that nothing herein
         shall limit the Company's obligations under Section 4(c) of the
         Securities Purchase Agreement) and the filing of such reports and other
         documents is required for the applicable provisions of Rule 144; and

                  c. furnish to each Investor so long as such Investor owns
         Registrable Securities, promptly upon request, (i) a written statement
         by the Company that it has complied with the reporting requirements of
         Rule 144, the 1933 Act and the 1934 Act, (ii) a copy of the most recent
         annual or quarterly report of the Company and such other reports and
         documents so filed by the Company, and (iii) such other information as
         may be reasonably requested to permit the investors to sell such
         securities pursuant to Rule 144 without registration.

         9. ASSIGNMENT OF REGISTRATION RIGHTS.

         The rights to have the Company register Registrable Securities pursuant
to this Agreement shall be automatically assignable by the Investors to any
transferee of all or any portion of Registrable Securities if: (i) the Investor
agrees in writing with the transferee or assignee to assign such rights, and a
copy of such agreement is furnished to the Company within a reasonable time
after such assignment; (ii) the Company is, within a reasonable time after such
transfer or assignment, furnished with written notice of (a) the name and
address of such transferee or assignee, and (b) the securities with respect to
which such registration rights are being transferred or assigned; (iii)
immediately following such transfer or assignment the further disposition of
such securities by the transferee or assignee is restricted under the 1933 Act
and applicable state securities laws; (iv) at or before the time the Company
receives the written notice contemplated by clause (ii) of this sentence the
transferee or assignee agrees in writing with the Company to be bound by all of
the provisions contained herein; (v) such transfer shall have been made in
accordance with the applicable requirements of the Securities Purchase
Agreement; (vi) such transferee shall be an "ACCREDITED INVESTOR" as that term
is defined in Rule 501 of Regulation D promulgated under the 1933 Act; and (vii)
in the event the assignment occurs subsequent to the date of effectiveness of
the Registration Statement required to be filed pursuant to Section 2(a), the
transferee agrees to pay all reasonable expenses of amending or supplementing
such Registration Statement to reflect such assignment.

         10. AMENDMENT OF REGISTRATION RIGHTS.

         Provisions of this Agreement may be amended and the observance thereof
may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company
and Investors who hold a majority of the Registrable Securities. Any amendment
or waiver effected in accordance with this Section 10 shall be binding upon each
Investor and the Company.

         11. MISCELLANEOUS.

                  a. A person or entity is deemed to be a holder of Registrable
         Securities whenever such person or entity owns of record such
         Registrable Securities. If the Company receives conflicting
         instructions, notices or elections from two or more persons or entities

                                       14
<PAGE>   15
         with respect to the same Registrable Securities, the Company shall act
         upon the basis of instructions, notice or election received from the
         registered owner of such Registrable Securities.

                  b. Any notices consents, waivers or other communications
         required or permitted to be given under the terms of this Agreement
         must be in writing and will be deemed to have been delivered (i) upon
         receipt, when delivered personally; (ii) upon receipt, when sent by
         facsimile, provided a copy is mailed by U.S. certified mail, return
         receipt requested; (iii) three (3) days after being sent by U.S.
         certified mail, return receipt requested, or (d) one (1) day after
         deposit with a nationally recognized overnight delivery service, in
         each case properly addressed to the party to receive the same. The
         addresses and facsimile numbers for such communications shall be:

          If to the Company:        BioShield Technologies, Inc.
                                    5655 Peachtree Parkway
                                    Atlanta, Georgia  30092
                                    Facsimile: (770) 246-2196
                                    Attention: Chief Financial Officer

         With a copy to:            Raymond L. Moss, Esq.
                                    Sims Moss Kline & Davis LLP
                                    400 Northpark Town Center, Suite 310
                                    1000 Abernathy Road, N.E.
                                    Atlanta, Georgia 30328
                                    Facsimile: (770) 481-7210

         If to a Buyer, to its address and facsimile number on the Schedule of
Buyers, with copies to such Buyer's counsel as set forth on the Schedule of
Buyers. Each party shall provide five (5) days' prior written notice to the
other party of any change in address or facsimile number.

                  c. Failure of any party to exercise any right or remedy under
         this Agreement or otherwise, delay by a party in exercising such right
         or remedy, shall not operate as a waiver thereof.

                  d. This Agreement shall be governed by and interpreted in
         accordance with the laws of the State of Georgia without regard to the
         principles of conflict of laws. If any provision of this Agreement
         shall be invalid or unenforceable in any jurisdiction, such invalidity
         or unenforceability shall not affect the validity or enforceability of
         the remainder of this Agreement in that jurisdiction or the validity or
         enforceability of any provision of this Agreement in any other
         jurisdiction.

                  e. This Agreement and the Securities Purchase Agreement
         constitute the entire agreement among the parties hereto with respect
         to the subject matter hereof and thereof. There are no restrictions,
         promises, warranties or undertakings, other than those set forth or
         referred to herein and therein. This Agreement and the Securities
         Purchase Agreement

                                       15
<PAGE>   16
         supersede all prior agreements and understandings among the parties
         hereto with respect to the subject matter hereof and thereof.

                  f. Subject to the requirements of Section 9, this Agreement
         shall inure to the benefit and of and be binding upon the permitted
         successors and assigns of each of the parties hereto.

                  g. The headings in this Agreement are for convenience of
         reference only and shall not limit or otherwise affect the meaning
         hereof.

                  h. This Agreement may be executed in two or more identical
         counterparts, each of which shall be deemed an original but all of
         which shall constitute one and the same agreement. This Agreement, once
         executed by a party, may be delivered to the other party hereto by
         facsimile transmission of a copy of this Agreement bearing the
         signature of the party so delivering this Agreement.

                  i. Each party shall do and perform, or cause to be done and
         performed, all such further acts and things, and shall execute and
         deliver all such other agreements, certificates, instruments and
         documents, as the other party may reasonably request in order to carry
         out the intent and accomplish the purposes of this Agreement and the
         consummation of the transactions contemplated hereby.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       16
<PAGE>   17
         IN WITNESS WHEREOF, the parties have caused this Registration Rights
Agreement to be duly executed as of day and year first above written.

         COMPANY:                                    BUYER:

         BIOSHIELD TECHNOLOGIES, INC.       WILSON LLC

         By: _____________________________  By: _______________________________
         Name: Timothy C. Moses             Name: _____________________________
         Its:  Chairman of the Board and    Its: ______________________________
               Chief Executive Officer

                                       17
<PAGE>   18
                               SCHEDULE OF BUYERS
<TABLE>
<CAPTION>

                                                           NUMBER OF SERIES B PREFERRED
BUYER'S NAME        ADDRESS/FACSIMILE NUMBER OF BUYER         SHARES
---------------     -----------------------------------    ----------------------------
<S>                 <C>                                    <C>
WILSON LLC          c/o Citco Trustees (Cayman) Ltd.                     500
                    Attn: David Sims
                    Corporate Centre, Windwood One
                    West Bay Road
                    P.O. Box 31106 SMB
                    Grand Cayman, Cayman Islands
                    284-494-4771
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}]]