Document:

This Consulting Agreement is made as of the 15th day of May 2006

BETWEEN:

AARON LASRY, whose address 27/5 Hakablan Street, Jerusalem 93874 Israel

                                                         OF THE FIRST PART

AND

     DERMISONICS, INC, a corporation incorporated pursuant to the laws of the
     State of Nevada (hereinafter referred to as "Dermisonics")

                                                         OF THE SECOND PART

WHEREAS Dermisonics is a public company which maintains a market for its common
shares, par value $0.001, in Germany through listings in the Freiverkehr at the
Berlin-Bremen Stock Exchange ("Berlin Exchange") and the Frankfurt Stock
Exchange ("Frankfurt Exchange") where, in both cases, the trading symbol is FQC
and the WKN is AODK4Y and also maintains a market for its common shares, par
value $0.001, in the United States through the National Association of
Securities Dealers' Over-the-Counter Bulletin Board ("OTCBB") where the trading
symbol is DMSI and the ISIN is US24983U1043;

AND WHEREAS Dermisonics is seeking to raise capital required for the execution
of the Company's business plan;

AND WHEREAS AARON LASRY ("LASRY") has introduced Dermisonics to a number of
investors and has provided ongoing assistance and consulting services to
Dermisonics in the area of capital formation,

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the , mutual
agreements and covenants herein contained , the parties hereto agree as follows:

     1.     APPOINTMENT.
            ------------

     Dermisonics hereby engages LASRY and LASRY agrees to render services to
Dermisonics as a consultant upon the terms and conditions hereinafter set forth.

                                 Page 1 of 5
<PAGE>
     2.     TERM
            ----

     The term of this Consulting Agreement shall begin as of the date of this
Agreement, and shall terminate on May 15, 2007, unless earlier terminated in
accordance with paragraph 9 herein or extended by the mutual written consent of
the parties.

     3.     SERVICES
            --------

     During the term of this Agreement, LASRY shall provide advice to, undertake
for and consult with Dermisonics concerning the capitalization of Dermisonics
and shall be specifically responsible for assisting in the negotiation and
completion of private financings for Dermisonics. LASRY shall report directly to
the President of Dermisonics throughout the term of this Consulting Agreement.

     4.      DUTIES OF DERMISONICS
            ----------------------

     Dermisonics shall provide LASRY, on a regular and timely basis, with all
approved data and information about it, its subsidiaries, its management, its
products and services and its operations as shall be reasonably requested by
LASRY or as may be reasonably required to advance the VEM Placement, and shall
advise LASRY immediately of any facts which would effect the accuracy of any
data and information previously supplied pursuant to this paragraph. Dermisonics
shall promptly supply LASRY with:

          (a)  full and  complete  copies  of  financial  reports,  and  all
               filings  with all federal and state securities agencies;
          (b)  full and  complete  copies  of  all  stockholder  reports;
          (c)  all data and information supplied by any financial analyst;
               and
          (d)  all brochures or other sales materials relating to its
               products or services.

     5.     COMPENSATION
            ------------

     In consideration for the provision of the consulting services described in
paragraph 3 hereinabove, Dermisonics will issue and deliver one hundred sixty
thousand (160,000) common shares in the capital stock of Dermisonics (the
"Shares") to LASRY.

     Any pre-approved expenses relating to any activities undertaken by LASRY
under this Consulting Agreement will be charged to Dermisonics at cost on a
monthly basis. Expenses will be invoiced and payment thereon shall be due within
thirty (30) days of receipt of an invoice.

     The parties hereto agree that, upon issuance and delivery to LASRY, a
legend in substantially the following form shall be clearly marked on the
certificate(s) representing the Shares:

                                 Page 2 of 5
<PAGE>
     THESE  SECURITIES  HAVE  NOT  BEEN  REGISTERED WITH THE SECURITIES AND
     EXCHANGE  COMMISSION  OR  THE  SECURITIES  COMMISSION  OF ANY STATE IN
     RELIANCE  UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
     OF  1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT
     BE  OFFERED  OR  SOLD  EXCEPT  PURSUANT  TO  AN EFFECTIVE REGISTRATION
     STATEMENT  UNDER  THE  SECURITIES  ACT  OR  PURSUANT  TO  AN AVAILABLE
     EXEMPTION  FROM,  OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
     REQUIREMENTS  OF  THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE
     STATE  SECURITIES  LAWS  AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO
     THE  TRANSFEROR  TO  SUCH  EFFECT,  THE  SUBSTANCE  OF  WHICH SHALL BE
     REASONABLY  ACCEPTABLE  TO  THE  COMPANY.

     6.     REPRESENTATION AND INDEMNIFICATION.
            -----------------------------------

     Dermisonics shall be deemed to have made a continuing representation of the
accuracy of any and all facts, material information and data which it supplies
to LASRY and acknowledges its awareness that LASRY will rely on such continuing
representation in disseminating such information and otherwise performing its
advisory functions. LASRY in the absence of notice in writing from Dermisonics
will rely on the continuing accuracy of material, information and data supplied
by Dermisonics. LASRY represents that it has knowledge of and is experienced in
providing the aforementioned services.

     7.     LIMITATION OF LIABILITY
            -----------------------

     In the event that either party shall be liable to the other pursuant to the
terms  of this Consulting Agreement for any failure to perform their obligations
arising under this Consulting Agreement, that party's liability shall be limited
as  follows:

               (a)  All liabilities  in  contract  and  tort  for  direct  loss
                    shall  be  limited  to  the  actual  value  of  the
                    compensation paid in accordance with paragraph 5 in the year
                    of  the  claim;  and

               (b)  All liabilities  in  contract  and  in  tort for incidental,
                    indirect,  special  or  consequential  damages  including,
                    but  not  limited  to,  loss of revenues or profits shall be
                    excluded.

     8.     CONFIDENTIAL INFORMATION
            ------------------------

     No party to this Consulting Agreement shall, without the prior written
consent of the other party, disclose any information concerning the existence
and/or terms of this Consulting Agreement to a third party except in the proper
performance of this Consulting Agreement or as required by law or a competent
authority. This duty of confidentiality shall survive the termination of this
Consulting Agreement.

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     9.     MISCELLANEOUS
            -------------

     Termination: This Consulting Agreement may be terminated by either Party in
     -----------
the event of a material breach of its terms by the other Party upon written
notice to the such other Party and termination shall be effective five (5)
business days from the date of such notice.

     Alteration: This Consulting Agreement sets out the entire understanding of
     ----------
the Parties with respect to the subject matter hereof. This Consulting Agreement
may be amended only in writing signed by both Parties.

     Counterparts: This Consulting Agreement may be executed in any number of
     -------------
counterparts by original or facsimile signature by the authorized officer of
Dermisonics and LASRY each of which counterparts, when executed and delivered,
shall be an original but such counterparts together shall constitute one and the
same instrument.

     Notices:  All notices, requests, demands and other communications required
     -------
or permitted to be given hereunder shall be deemed given when received by the
parties at the addresses below or to such other address, or the attention of
such other party, as the parties shall advise the other by notice given in
accordance with this clause:

               If to Dermisonics:    Dermisonics, Inc.,
                                     2 Park Plaza, Suite 450
                                     Irvine, California
                                     92614 U.S.A.

                                     Attention: Bruce H. Haglund

               If to LASRY:          AARON  LASRY
                                     27/5 Hakablan Street
                                     Jerusalem 93874 Israel

or to such other address, or the attention of such other party, as the parties
shall advise the other by notice given in conformity herewith.

     Waiver: Any waiver by either Party of a breach of any provision of this
     ------
Consulting Agreement shall not operate as or be construed to be a waiver of any
other breach of that provision or of any breach of any other provision of this
Consulting Agreement. The failure of a Party to insist upon strict adherence to
any term of this Consulting Agreement on one or more occasions will not be
considered a waiver or deprive that Party of the right thereafter to insist upon
adherence to that term of any other term of this Consulting Agreement.

     Severability: If any provision of this Consulting Agreement is invalid,
     ------------
illegal, or unenforceable, the balance of this Consulting Agreement shall remain
in effect, and if any

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provision is inapplicable to any person or circumstance, it shall nevertheless
remain applicable to all other persons and circumstances.

     Disagreements: Any dispute or other disagreement arising from or out of
     -------------
this Consulting Agreement shall be submitted to arbitration under the rules of
the American Arbitration Association and the decision of the arbiter(s) shall be
enforceable in any court having jurisdiction thereof. Arbitration shall occur
only in the State of Nevada. The interpretation and the enforcement of this
Agreement shall be governed by Nevada Law as applied to residents of the State
of Nevada relating to contracts executed in and to be performed solely within
the State of Nevada. In the event any dispute is arbitrated, the prevailing
Party (as determined by the arbiter(s)) shall be entitled to recover that
Party's reasonable attorney's fees incurred (as determined by the arbiter(s)).

          IN WITNESS THEREOF, this Consulting Agreement has been executed by the
Parties as of the date first above written.

                                        Dermisonics,  Inc

                                        By:
                                            ------------------------
                                             Bruce H. Haglund,
                                             Chairman

--------------------------               -----------------------------
        Witness                          AARON LASRY

                                 Page 5 of 5NEITHER  THIS  WARRANT  NOR  THE  SECURITIES  INTO  WHICH  THIS  WARRANT IS
EXERCISABLE  HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR
THE  SECURITIES  COMMISSION  OF  ANY  STATE  IN  RELIANCE UPON AN EXEMPTION FROM
REGISTRATION  UNDER  THE  SECURITIES  ACT  OF  1933, AS AMENDED (THE "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY  NOT  BE  OFFERED  OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER  THE  SECURITIES ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION  FROM  THE  REGISTRATION  REQUIREMENTS  THEREUNDER  AND  IN
COMPLIANCE WITH APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

                  --------------------------------------------
                                DERMISONICS, INC.

                      COMMON STOCK PURCHASE WARRANT NO. __
                  --------------------------------------------

Dated:                -,  2006
        ------------

     DERMISONICS,  INC.,  a corporation organized and existing under the laws of
the  State of Nevada (the "Company"), hereby certifies that, for value received,
                          or his registered assigns (the "Holder"), is entitled,
-------------------------
subject to the terms set forth below, to purchase from the Company up to a total
of            shares  of  Common  Stock, $0.001 par value per share (the "Common
    --------
Stock"), of the Company (each such share, a "Warrant Share" and all such shares,
the  "Warrant  Shares")  at  an  exercise  price equal to $.25 per Warrant Share
(hereinafter  this common stock purchase warrant is referred to as the "Warrant"
or  the  "Warrants").  The Warrants may be exercised through and including March
31,  2008  (the  "Expiration  Date").  This  Warrant is subject to the following
additional  terms  and  conditions:

     1.     Registration of Warrant; Registration of Transfers and Exchanges.
            ----------------------------------------------------------------

          (a)     The  Company  shall  register this Warrant, upon records to be
maintained by the Company for that purpose (the "Warrant Register"), in the name
of  the  record  Holder hereof from time to time. The Company may deem and treat
the  registered  Holder  of  this  Warrant  as the absolute owner hereof for the
purpose  of  any  exercise hereof or any distribution to the Holder, and for all
other purposes, and the Company shall not be affected by notice to the contrary.

          (b)     The  Company  shall  register  the  transfer of any portion of
this  Warrant  in the Warrant Register, upon surrender of this Warrant, with the
Form  of Assignment attached hereto duly completed and signed, to the Company at
its  address

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for  notice  specified  in  Section  10  along with an opinion of counsel to the
Holder  reasonably  acceptable  to  the  Company  that such transfer may be made
without  compliance  with  Federal  and  state  securities  laws.  Upon any such
registration  or  transfer,  a  new  warrant  to  purchase  Common  Stock,  in
substantially  the form of this Warrant (any such new warrant, a "New Warrant"),
evidencing  the  portion  of  this Warrant so transferred shall be issued to the
transferee  and  a  New Warrant evidencing the remaining portion of this Warrant
not  so  transferred,  if  any,  shall be issued to the transferring Holder. The
acceptance  of  the  New  Warrant  by the transferee thereof shall be deemed the
acceptance  of  such transferee of all of the rights and obligations of a holder
of  a  Warrant.

          (c)     This Warrant is exchangeable, upon the surrender hereof by the
Holder  to  the  office  of  the  Company at its address for notice specified in
Section  10  for one or more New Warrants, evidencing in the aggregate the right
to  purchase the number of Warrant Shares which may then be purchased hereunder.
Any such New Warrant will be dated the date of such exchange.

     2.     Duration, Exercise and Redemption of Warrants.
            ---------------------------------------------

          (a)     This  Warrant shall be exercisable by the registered Holder on
any business day before 5:00 P.M., New York City time, at any time and from time
to time on or after the date hereof, in accordance with the Vesting Schedule, to
and  including  the  Expiration  Date.  At  5:00 P.M., New York City time on the
Expiration  Date,  the portion of this Warrant not exercised prior thereto shall
be  and  become  void  and of no value.  This Warrant shall be redeemable by the
Company  as  provided  in  Section  4,  below.

          (b)     Subject  to  Sections  1(c)  and  5,  upon  surrender  of this
Warrant,  with  the  Form of Election to Purchase attached hereto duly completed
and signed, to the Company at its address for notice set forth in Section 10 and
upon  payment  of  the Exercise Price multiplied by the number of Warrant Shares
that  the  Holder  intends  to purchase hereunder, in lawful money of the United
States of America, in cash or by certified or official bank check or checks, all
as  specified  by  the  Holder  in the Form of Election to Purchase, the Company
shall promptly (but in no event later than three business days after the Date of
Exercise  (as  defined  herein))  issue  or  cause  to be issued and cause to be
delivered  to  or upon the written order of the Holder and in such name or names
as  the Holder may designate, a certificate for the Warrant Shares issuable upon
such exercise.  Any person so designated by the Holder to receive Warrant Shares
shall  be  deemed to have become a holder of record of such Warrant Shares as of
the  Date  of  Exercise of this Warrant.  A "Date of Exercise" means the date on
which  the  Company shall have received (i) this Warrant (or any New Warrant, as
applicable),  with the Form of Election to Purchase attached hereto (or attached
to  such  New  Warrant)

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<PAGE>
appropriately  completed and duly signed, and (ii) payment of the Exercise Price
for  the  number  of  Warrant  Shares  so  indicated  by the holder hereof to be
purchased.

          (c)     This  Warrant shall be exercisable, either in its entirety or,
from  time to time, for a portion of the number of Warrant Shares.  If less than
all  of  the  Warrant  Shares  which  may  be  purchased  under this Warrant are
exercised  at  any  time,  the Company shall issue or cause to be issued, at its
expense,  a New Warrant evidencing the right to purchase the remaining number of
Warrant Shares for which no exercise has been evidenced by this Warrant.

     3.     Redemption  of Warrant.  The Warrants may be redeemed by the Company
            ----------------------
at  any  time  on  30  day's  written  notice  to the Holder at the last address
therefor  as  it  shall appear upon the Warrant Register at a price of $0.01 per
Warrant  commencing  immediately  after  the Registration Date provided that the
average  closing  bid  price  per  share of Common Stock for the 30 trading days
ending  five  days prior to the date of the redemption notice of the Warrants is
at  least  $20.00  per  share.

     4.     Payment  of Taxes.  The Company will pay all documentary stamp taxes
            -----------------
attributable  to  the  issuance  of  Warrant  Shares  upon  the exercise of this
Warrant;  provided,  however,  that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the registration
of  any certificates for Warrant Shares or Warrants in a name other than that of
the Holder, and the Company shall not be required to issue or cause to be issued
or  deliver  or cause to be delivered the certificates for Warrant Shares unless
or  until  the person or persons requesting the issuance thereof shall have paid
to  the  Company  the  amount  of  such  tax  or  shall  have established to the
satisfaction  of  the  Company that such tax has been paid.  The Holder shall be
responsible for all other tax liability that may arise as a result of holding or
transferring this Warrant or receiving Warrant Shares upon exercise hereof.

     5.     Replacement  of Warrant.  If this Warrant is mutilated, lost, stolen
            -----------------------
or  destroyed,  the  Company  shall  issue or cause to be issued in exchange and
substitution  for  and  upon cancellation hereof, or in lieu of and substitution
for  this  Warrant,  a New Warrant, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction and indemnity, if
reasonably  satisfactory  to  it.  Applicants  for  a  New  Warrant  under  such
circumstances  shall  also  comply  with  such  other reasonable regulations and
procedures  and  pay such other reasonable charges as the Company may prescribe.

     6.     Reservation of Warrant Shares.  The  Company  covenants that it will
            -----------------------------
at  all  times reserve and keep available out of the aggregate of its authorized
but  unissued  Common  Stock,  solely  for  the  purpose of enabling it to issue
Warrant  Shares  upon exercise of this Warrant as herein provided, the number of
Warrant Shares which are then issuable and deliverable upon the exercise of this
entire  Warrant,  free  from

                                 Page 3 of Nine
<PAGE>
preemptive  rights  or  any  other  actual contingent purchase rights of persons
other  than the Holders (taking into account the adjustments and restrictions of
Section  7).  The  Company  covenants  that  all Warrant Shares that shall be so
issuable  and deliverable shall, upon issuance and the payment of the applicable
Exercise  Price  in  accordance  with  the  terms  hereof,  be  duly and validly
authorized,  issued  and  fully  paid  and  nonassessable.

     7.     Certain  Adjustments.  The  Exercise  Price  and  number  of Warrant
            --------------------
Shares  issuable  upon  exercise  of this Warrant are subject to adjustment from
time  to  time as set forth in this Section 7.  Upon each such adjustment of the
Exercise  Price pursuant to this Section 7, the Holder shall thereafter prior to
the  Expiration  Date  be  entitled to purchase, at the Exercise Price resulting
from  such  adjustment, the number of Warrant Shares obtained by multiplying the
Exercise  Price  in effect immediately prior to such adjustment by the number of
Warrant  Shares issuable upon exercise of this Warrant immediately prior to such
adjustment and dividing the product thereof by the Exercise Price resulting from
such  adjustment.

          (a)     If the Company, at any time while this Warrant is outstanding,
(i) shall pay a stock dividend or otherwise make a distribution or distributions
on  shares  of  its  Common  Stock  (as  defined below) or on any other class of
capital stock (and not the Common Stock) payable in shares of Common Stock, (ii)
subdivide  outstanding shares of Common Stock into a larger number of shares, or
(iii)  combine  outstanding  shares  of  Common  Stock  into a smaller number of
shares,  the  Exercise  Price  shall  be  multiplied  by a fraction of which the
numerator  shall  be  the  number  of shares of Common Stock (excluding treasury
shares, if any) outstanding before such event and of which the denominator shall
be  the  number  of  shares  of Common Stock (excluding treasury shares, if any)
outstanding  after  such  event.  Any  adjustment  made pursuant to this Section
shall  become  effective immediately after the record date for the determination
of  stockholders  entitled  to  receive  such dividend or distribution and shall
become  effective  immediately  after  the  effective  date  in  the  case  of a
subdivision  or  combination,  and  shall  apply  to successive subdivisions and
combinations.

          (b)     In  case  of  any  reclassification  of  the Common Stock, any
consolidation  or merger of the Company with or into another person, the sale or
transfer  of  all or substantially all of the assets of the Company in which the
consideration  therefor  is  equity  or  equity  equivalent  securities  or  any
compulsory  share  exchange pursuant to which the Common Stock is converted into
other securities or property, then the Holder shall have the right thereafter to
exercise  this  Warrant  only  into the shares of stock and other securities and
property  receivable  upon  or  deemed  to  be  held  by holders of Common Stock
following  such reclassification, consolidation, merger, sale, transfer or share
exchange,  and  the  Holder  shall  be  entitled upon such event to receive such
amount  of  securities or property of the Company's business combination partner
equal  to  the  amount  of  Warrant  Shares  such  Holder  would  have

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<PAGE>
been  entitled  to  had  such Holder exercised this Warrant immediately prior to
such  reclassification, consolidation, merger, sale, transfer or share exchange.
The  terms  of  any such consolidation, merger, sale, transfer or share exchange
shall  include  such  terms so as to continue to give to the Holder the right to
receive  the  securities  or  property  set  forth in this Section 7(b) upon any
exercise  following  any  such  reclassification,  consolidation,  merger, sale,
transfer  or  share  exchange.

          (c)     If the Company, at any time while this Warrant is outstanding,
shall  distribute  to  all  holders  of Common Stock (and not to holders of this
Warrant)  evidences  of  its  indebtedness  or  assets  or rights or warrants to
subscribe  for or purchase any security (excluding those referred to in Sections
7(a),  (b)  and  (d)),  then  in  each  such  case  the  Exercise Price shall be
determined  by multiplying the Exercise Price in effect immediately prior to the
record  date  fixed  for  determination of stockholders entitled to receive such
distribution  by a fraction of which the denominator shall be the Exercise Price
determined  as  of  the  record date mentioned above, and of which the numerator
shall be such Exercise Price on such record date less the then fair market value
at such record date of the portion of such assets or evidence of indebtedness so
distributed applicable to one outstanding share of Common Stock as determined by
a  nationally  recognized  or  major regional investment banking firm or firm of
independent  certified  public accountants of recognized standing (which, in all
events,  may be the firm that regularly examines the financial statements of the
Company)  (an  "Appraiser")  mutually selected in good faith by the holders of a
majority  in  interest  of  the  Warrants then outstanding and the Company.  Any
determination  made  by  the  Appraiser  shall  be  final.

          (d)     If, at any time while this Warrant is outstanding, the Company
shall  issue  or  cause  to be issued rights or warrants to acquire or otherwise
sell  or  distribute shares of Common Stock to all holders of Common Stock for a
consideration  per  share  less  than  the  Exercise Price then in effect, then,
forthwith  upon  such  issue or sale, the Exercise Price shall be reduced to the
price  (calculated  to  the  nearest  cent) determined by dividing (i) an amount
equal  to  the  sum  of  (A)  the  number  of shares of Common Stock outstanding
immediately  prior  to  such issue or sale multiplied by the Exercise Price, and
(B)  the  consideration, if any, received or receivable by the Company upon such
issue  or  sale  by  (ii) the total number of shares of Common Stock outstanding
immediately  after  such  issue  or  sale.

          (e)     For  the  purposes  of  this  Section 7, the following clauses
shall  also  be  applicable:

               (i)  Record Date.  In case the Company shall take a record of the
                    -----------
holders  of  its Common Stock for the purpose of entitling the holders of Common
Stock (A) to receive a dividend or other distribution payable in Common Stock or
in securities convertible or exchangeable into shares of Common Stock, or (B) to
subscribe  for  or

                                 Page 5 of Nine
<PAGE>
purchase  Common  Stock or securities convertible or exchangeable into shares of
Common  Stock, then such record date shall be deemed to be the date of the issue
or  sale  of  the shares of Common Stock deemed to have been issued or sold upon
the declaration of such dividend or the making of such other distribution or the
date  of the granting of such right of subscription or purchase, as the case may
be.

               (ii)  Treasury  Shares.  The  number  of  shares  of Common Stock
                     ----------------
outstanding  at  any given time shall not include shares owned or held by or for
the  account  of  the  Company,  and the disposition of any such shares shall be
considered  an  issue  or  sale  of  Common  Stock.

          (f)     All  calculations  under  this  Section 7 shall be made to the
nearest cent or the nearest 1/100th of a share, as the case may be.

          (g)     If:

                    (i)  the Company  shall  declare  a  dividend  (or any other
                         distribution)  on  its  Common  Stock;  or

                    (ii) the  Company  shall declare a special nonrecurring cash
                         dividend  on  or  a  redemption of its Common Stock; or

                   (iii) the  Company  shall  authorize  the  granting  to  all
                         holders  of  the  Common  Stock  rights  or warrants to
                         subscribe  for  or purchase any shares of capital stock
                         of  any  class  or  of  any  rights;  or

                    (iv) the  approval  of any stockholders of the Company shall
                         be  required in connection with any reclassification of
                         the  Common  Stock of the Company, any consolidation or
                         merger  to  which  the  Company is a party, any sale or
                         transfer  of  all or substantially all of the assets of
                         the  Company,  or any compulsory share exchange whereby
                         the  Common  Stock  is converted into other securities,
                         cash  or  property;  or

                    (v)  the  Company shall authorize the voluntary dissolution,
                         liquidation  or  winding  up  of  the  affairs  of  the
                         Company;

then the Company shall cause to be mailed to each Holder at their last addresses
as  they shall appear upon the Warrant Register, at least 30 calendar days prior
to  the  applicable  record  or  effective  date hereinafter specified, a notice
stating  (x)  the  date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to
be  taken,  the  date  as  of  which the holders of Common Stock of record to be
entitled  to  such  dividend,  distributions,  redemption,

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<PAGE>
rights  or  warrants  are  to  be  determined  or  (y)  the  date  on which such
reclassification,  consolidation,  merger,  sale,  transfer or share exchange is
expected  to  become effective or close, and the date as of which it is expected
that  holders  of  Common  Stock  of  record shall be entitled to exchange their
shares  of  Common Stock for securities, cash or other property deliverable upon
such  reclassification,  consolidation,  merger, sale, transfer, share exchange,
dissolution,  liquidation  or winding up; provided, however, that the failure to
                                          --------  -------
mail  such  notice  or  any  defect  therein or in the mailing thereof shall not
affect  the  validity  of  the corporate action required to be specified in such
notice.

     8.     Payment  of Exercise Price.  The Holder may exercise this Warrant by
            --------------------------
tendering  to  the Company cash or certified or official bank check or checks in
an  amount  calculated by multiplying the Exercise Price per share by the number
of  Warrant  Shares  the  Holder  desires  to  purchase.

     9.     Fractional  Shares.  The  Company shall not be required to issue or
            ------------------
cause  to  be  issued fractional Warrant Shares on the exercise of this Warrant.
The  number  of full Warrant Shares which shall be issuable upon the exercise of
this  Warrant  shall be computed on the basis of the aggregate number of Warrant
Shares  purchasable on exercise of this Warrant so presented. If any fraction of
a  Warrant Share would, except for the provisions of this Section 9, be issuable
on  the  exercise  of this Warrant, the Company shall, at its option, (i) pay an
amount  in  cash equal to the Exercise Price multiplied by such fraction or (ii)
round the number of Warrant Shares issuable, up to the next whole number.

     10.     Notices.  Any and all notices or other communications or deliveries
             -------
hereunder  shall  be  in  writing and shall be deemed given and effective on the
earliest  of  (i)  the  date of transmission, if such notice or communication is
delivered  via  facsimile  at  the  facsimile telephone number specified in this
Section,  (ii)  the  business  day  following  the  date  of mailing, if sent by
internationally  recognized  overnight  courier  service,  or  (iii) upon actual
receipt by the party to whom such notice is required to be given.  The addresses
for  such  communications  shall  be:

               If to the Company:     DERMISONICS,  INC.
                                      c/o Bruce H. Haglund
                                      2    Park Plaza,  Suite  450
                                      Irvine, California  92164
                                      Facsimile Number: (949) 733-1188

               If to the Holder:

                                      Facsimile:

                                 Page 7 of Nine
<PAGE>
Either party may change the address and facsimile number to which notices are to
be  sent by delivering notice to the other party in accordance with this Section
10.

     11.     Warrant  Agent.
             --------------

          (a)     The  Company  shall serve as warrant agent under this Warrant.
Upon 30 days' notice to the Holder, the Company may appoint a new warrant agent.

          (b)     Any  corporation  into  which  the  Company or any new warrant
agent may be merged or any corporation resulting from any consolidation to which
the  Company  or  any  new  warrant agent shall be a party or any corporation to
which  the  Company  or any new warrant agent transfers substantially all of its
corporate  trust  or shareholders services business shall be a successor warrant
agent  under  this  Warrant without any further act.  Any such successor warrant
agent  shall  promptly  cause  notice  of  its succession as warrant agent to be
mailed (by first class mail, postage prepaid) to the Holder at the Holder's last
address  as  shown  on  the  Warrant  Register.

     12.     Miscellaneous.
             -------------

          (a)     This  Warrant  shall be binding on and inure to the benefit of
the  parties hereto and their respective successors and permitted assigns.  This
Warrant may be amended only in writing signed by the Company and the Holder.

          (b)     Subject to Section 12(a), above, nothing in this Warrant shall
be construed to give to any person or corporation other than the Company and the
Holder  any  legal  or equitable right, remedy or cause under this Warrant; this
Warrant  shall  be  for  the  sole  and exclusive benefit of the Company and the
Holder.

          (c)     This  Warrant  shall be governed by and construed and enforced
in  accordance  with  the internal laws of the State of Nevada without regard to
the  principles  of  conflicts  of  law  thereof.

          (d)     The  headings  herein  are  for  convenience  only,  do  not
constitute a part of this Warrant and shall not be deemed to limit or affect any
of  the  provisions  hereof.

          (e)     In  case  any  one  or  more of the provisions of this Warrant
shall  be  invalid  or  unenforceable  in  any  respect,  the  validity  and
enforceability  of  the remaining terms and provisions of this Warrant shall not
in  any way be affected or impaired thereby and the parties will attempt in good
faith  to  agree  upon  a  valid  and  enforceable  provision  which  shall be a
commercially  reasonable  substitute  therefor,  and  upon  so  agreeing,  shall
incorporate  such  substitute  provision  in  this  Warrant.

                                 Page 8 of Nine
<PAGE>
     IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed
by its authorized officer as of the date first indicated above.

                               DERMISONICS,  INC.

                               By:
                                    -------------------------------
                                    Bruce H. Haglund, Chairman

                                 Page 9 of Nine
<PAGE>
                          FORM OF ELECTION TO PURCHASE
         (To be executed by the Holder to exercise the right to purchase
               shares of Common Stock under the foregoing Warrant)

To:  DERMISONICS,  INC.

     In  accordance  with  the  Warrant  enclosed  with this Form of Election to
Purchase,  the  undersigned  hereby  irrevocably  elects to purchase
                                                                     -----------
shares  of  Common  Stock  ("Common  Stock"),  $0.001  par  value  per share, of
DERMISONICS,  INC.  and  encloses  herewith  $          in  cash or certified or
                                              --------
official bank check or checks, which sum represents the aggregate Exercise Price
(as  defined  in  the Warrant) for the number of shares of Common Stock to which
this  Form  of  Election to Purchase relates, together with any applicable taxes
payable  by  the  undersigned  pursuant  to  the  Warrant.

     The  undersigned  requests that certificates for the shares of Common Stock
issuable upon this exercise be issued in the name of

Print name and address:
                              -------------------------------

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

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

                              -------------------------------
Print social security or
tax identification number:
                              -------------------------------

     If  the  number of shares of Common Stock issuable upon this exercise shall
not  be  all  of the shares of Common Stock which the undersigned is entitled to
purchase  in accordance with the enclosed Warrant, the undersigned requests that
a  New  Warrant (as defined in the Warrant) evidencing the right to purchase the
shares of Common Stock not issuable pursuant to the exercise evidenced hereby be
issued  in  the  name  of  and  delivered  to:

Print name and address:
                              -------------------------------

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

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

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

                          (The signature page follows.)

<PAGE>
Dated:                        Name of Holder:
       ------------                             --------------------------------

                              Signature:
                                                --------------------------------

                              By (if entity):
                                                --------------------------------

                              Name (if entity):
                                                --------------------------------

                              Title (if entity):
                                                --------------------------------
                              (Signature must conform in all respects to name of
                              holder as specified on the face of the Warrant)

<PAGE>
           [To be completed and signed only upon transfer of Warrant]

     FOR  VALUE  RECEIVED,  the  undersigned hereby sells, assigns and transfers
unto
    ----------------------------------------------------------------------------
the  right  represented  by  the  within  Warrant  to  purchase
                                                               -----------------
shares  of Common Stock of DERMISONICS, INC. to which the within Warrant relates
and  appoints the Secretary of DERMISONICS, INC. attorney to transfer said right
on  the  books  of  DERMISONICS,  INC.  with  full  power of substitution in the
premises.

Dated:                        Name of Holder:
       ------------                             -------------------------------

                              Signature:
                                                -------------------------------

                              By (if entity):
                                                -------------------------------

                              Name (if entity):
                                                -------------------------------

                              Title (if entity):
                                                -------------------------------

                              (Signature must conform in all respects to name of
                              holder as specified on the face of the Warrant)

Name and Address of Transferee:
                                        -------------------------------

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

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

In the presence of:

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

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