Document:

TMI HOLDINGS, INC.
                               2003 NON-QUALIFIED
                           STOCK GRANT AND OPTION PLAN

     1.   PURPOSE:  This  Non-Qualified  Stock  Grant  and  Option  Plan  (the
          ------
"Plan") is intended to serve as an incentive to and to encourage stock ownership
by  certain  directors,  officers,  employees  of  and certain persons rendering
service  to  TMI  Holdings,  Inc., a Florida corporation (the "Corporation"), so
that  they  may acquire or increase their proprietary interest in the success of
the  Corporation,  and to encourage them to remain in the Corporation's service.

     2.   ADMINISTRATION:  The  Plan  shall  be  administered  by  a  committee
          --------------
appointed  by  the  Corporation's  Board  of  Directors  (the  "Committee"). The
Committee  shall  consist  of  not  less  than  three  (3)  members who shall be
appointed  by,  and  serve  at  the  pleasure  of,  the  Corporation's  Board of
Directors.  The Board of Directors may from time to time remove members from, or
add members to, the Committee. Vacancies on the Committee, however caused, shall
be  filled only by the Board of Directors. The Committee shall select one of its
members  as Chairman, and shall hold meetings at such times and places as it may
determine. Acts by a majority of the Committee in a meeting at which a quorum is
present  and  acts  approved  in  writing  by  a  majority of the members of the
Committee  shall  be the valid acts of the Committee. No member of the Committee
shall  vote  on  any matter concerning his or her own participation in the Plan,
except  that  the  Board  of  Directors as a whole may act on options granted to
directors. If no Committee has been appointed, the entire Board shall constitute
the  Committee.

          The  Committee shall be authorized to grant stock and/or options under
the  Plan  to such directors, officers, employees of and other persons rendering
service  to  the  Corporation  or  any  parent  or subsidiary corporation of the
Corporation,  as  defined  for  purposes  of  Internal Revenue Code Section 422A
("Parent  or  Subsidiary"),  at such times and in such amounts as it may decide.

          The interpretation and construction by the Committee of any provisions
of  the  Plan  or of any option granted under it shall be final unless otherwise
determined  by  the  Board of Directors.  No member of the Committee or Board of
Directors  shall  be  liable  for any action or determination made in good faith
with  respect  to  the  Plan  or  any  option  granted  under  it.

     3.     ELIGIBILITY
            -----------

          3.1.  General:  Any person who performs services of special importance
                -------
to  the  Corporation,  or  any  Parent  or  Subsidiary  thereof, relating to the
Corporation's  management, operation or development shall be eligible to receive
stock or options under the Plan.  The selection of stock and/or options received
shall  be within the sole and absolute discretion of the Committee, or the Board
of  Directors.

<PAGE>

          3.2.  Termination  of  Eligibility: Any option granted hereunder shall
         ---------------------------
expire  if,  for any reason other than his or her death, the optionee (i) ceases
to  be employed by the Corporation or a Parent or Subsidiary thereof; (ii) is no
longer  a  member  of  the  Corporation's Board of Directors; or (iii) no longer
performs  services  for  the  Corporation  as  an  independent  contractor.  The
expiration  will  take  effect  at the earliest of the following times: four (4)
months  from  the  date  of  the  occurrence  causing termination of eligibility
(twelve  (12)  months if the optionee's eligibility ceases because of his or her
disability),  or  upon  the  date  the  option expires by its terms. During such
four-month period, the option may be exercised in accordance with its terms, but
only  in  respect  to  the  number of shares for which the right to exercise has
accrued  on  the  date  of termination of employment, or status as a director or
independent  contractor.  The Committee shall decide whether an authorized leave
of  absence  or absence for military or governmental service, or absence for any
other  reason,  shall constitute termination of eligibility for purposes of this
Section.  This  determination  shall  be  subject  to  review  by  the  Board of
Directors.

          3.3.  Death  of  Optionee and Transfer of Option: If the optionee dies
                ------------------------------------------

while  eligible  to participate in the Plan, or within four (4) months after the
termination  of  his  or her eligibility, and shall not have fully exercised the
option,  the option may be exercised at any time within twelve (12) months after
the  optionee's  death  by  the optionee's executors or administrators or by any
person  or persons who acquired the option directly from the optionee by bequest
or  inheritance.  However,  no option shall be exercisable after it expires; and
options  may  be  exercised  only  to  the  extent  that the optionee's right to
exercise the option had accrued at the time of his or her death and had not been
previously  exercised.

          No option shall be transferable by the optionee otherwise than by will
or  the  laws  of  intestate  succession.

     4.     IDENTIFICATION OF STOCK:  The stock subject to grant and the options
            -----------------------
shall  be  shares  of  the  Corporation's authorized but unissued or acquired or
reacquired Common Stock, par value $0.01 (the "Stock").  The aggregate number of
shares  subject to outstanding options shall not exceed two million five hundred
thousand  (2,500,000)  shares  of  Stock  (subject  to adjustment as provided in
Section 5.6).  If any option granted hereunder shall expire or terminate for any
reason  without  having  been  exercised in full, the unpurchased shares subject
thereto  shall  again  be  available  for  purposes  of  this  Plan.

     5. TERMS AND CONDITIONS OF OPTIONS: Any option granted pursuant to the Plan
        -------------------------------
shall be evidenced by an agreement in such form as the Committee shall from time
to  time  determine,  which  agreement  shall  comply with and be subject to the
following  terms  and  conditions:

          5.1. Number of Shares: Each option shall state the number of shares to
               ----------------
which  it  pertains.

          5.2.  Option Exercise Price: Each option shall state the option price,
                ---------------------
which  shall  be  determined  at  the  Committee's  discretion.

<PAGE>

          5.3.  Method  of  Exercise:  An  option  shall be exercised by written
                -------------------
notice to the Corporation stating the number of shares with respect to which the
option is being exercised and designating a time for the delivery thereof, which
shall  be  not  more than fifteen (15) days after notice is given unless another
date  was  mutually  agreed  upon.  At  the  time  specified  in the notice, the
Corporation shall deliver to the optionee at the Corporation's principal office,
or  other  appropriate place the Committee determines, a certificate(s) for such
shares  of  previously  authorized but unissued shares or acquired or reacquired
shares of Stock as the Corporation may elect. Notwithstanding the foregoing, the
Corporation may postpone delivery of any certificate(s) after notice of exercise
for  any  reasonable  period  required  to  comply  with  any applicable listing
requirements  of  any  national  or  other  securities exchange. In the event an
option  shall be exercisable by any person other than the optionee, the required
notice  under  this  section  shall  be accompanied by appropriate proof of such
person's  right  to  exercise  the  option.

          5.4.  Medium  and  Time  Payment: The option price shall be payable in
                --------------------------
full  upon  the exercise of the option by certified or bank cashier's check, the
promissory note of the optionee, or any equivalent form of payment acceptable to
the  Corporation.

          5.5.  Term of Option: The term of an option granted hereunder shall be
                --------------
determined  by the Committee at the time of grant, but shall not exceed ten (10)
years  from  the  day of the grant.  In no event shall any option be exercisable
after  the  expiration  of  its  term.

          5.6.  Adjustments  Upon  Changes  in  Capitalization:  Subject  to any
                ----------------------------------------------
required  shareholder  action,  the  number  of  shares of stock covered by each
outstanding  option  and  the  price  per  share  in  each  such option shall be
proportionately  adjusted  for  any increase or decrease in the number of issued
shares  of  Stock  of  the  Corporation  resulting  from:  (i)  a subdivision or
consolidation  of  shares; (ii) the payment of a stock dividend (but only on the
Stock);  (iii)  any  other  increase  or  decrease  in the number of such shares
effected  without  receipt  of  consideration by the Corporation; (iv) or, as to
Stock  issued  other  than  pursuant  to  a  stock option granted to a director,
officer, employee or a person rendering services as an independent contractor to
the  Corporation  or  any  Parent or Subsidiary, any increase or decrease in the
number  of shares made for per share consideration less than the option price of
such  option.  Any  fraction  of  a share subject to option that would otherwise
result  from  an  adjustment  pursuant  to  this  subparagraph  shall be rounded
downward  to  the  next  full  number  of  shares  without other compensation or
consideration  to  the  holder  of  the  option.

          Subject  to  any required shareholder action, if the Corporation shall
be  the  surviving  corporation in any merger or consolidation, each outstanding
option shall pertain and apply to the securities to which a holder of the number
of  shares  of  Stock  subject  to  the  option  would  have been entitled.  The
Corporation's  Board  of Directors may grant each optionee the right to exercise
his  or  her  option  in whole or in part immediately prior to the Corporation's
dissolution  or liquidation, or merger or consolidation in which the corporation
is  not  the  surviving corporation.  If the Corporation is consolidated with or
merged  into any other corporation, or if the Corporation sells or transfers all
or  substantially  all  of  its  assets, or if any other similar event affecting
shares  of  Stock  of the Corporation should occur, and if the exercisability of
the  options  is  not  accelerated  by  the Board of Directors and the acquiring
Corporation  assumes  the  Corporation's  obligations  under the options granted
under  this  Plan,  then  each optionee shall be entitled thereafter to purchase
shares of stock and other securities and property in the kind and amount, and at
the  price,  which  the  optionee would have been entitled had his or her option
been exercised prior to such event.  The Corporation shall make lawful provision
therefore  as  part  of  any  such  transaction.

<PAGE>

          To  the  extent  that  the  foregoing  adjustments  relate to stock or
securities  of  the  Corporation,  they  shall  be  made by the Committee, whose
determinations  shall  be  final,  binding  and  conclusive.

          The  grant  of  an option pursuant to the Plan shall not affect in any
way  the  Corporation's  right  or power to make adjustments, reclassifications,
reorganizations  or changes of its capital or business structure, or to merge or
to consolidate or to dissolve, liquidate or sell, or transfer all or any part of
its  business  or  assets.

          Whenever  the Corporation takes any action resulting in any adjustment
provided for in this Section 5.6, the Corporation shall forthwith deliver notice
of  the  action  to  optionee.  The  notice shall set forth the number of shares
subject  to  this  Option  and  the  purchase  price  thereof resulting from the
adjustment.

          5.7. Rights as a Shareholder: An optionee or a transferee of an option
               -----------------------
shall  have no rights as a shareholder with respect to any shares underlying his
or  her  option  until  the  date  the optionee is issued a certificate for such
shares.  No  adjustment  shall be made for dividends (ordinary or extraordinary,
whether  in cash, securities or other property) or distributions or other rights
for which the record date is prior to the date such stock certificate is issued,
except  as  provided  in  Section  5.6  above.

          5.8.  Modification,  Extension  and Renewal of Options: Subject to the
                ------------------------------------------------
terms  and  conditions and within the limitations of the Plan, the Committee may
modify,  extend  or  renew outstanding options granted under the Plan, or accept
the  surrender  of outstanding options (to the extent not theretofore exercised)
and  authorize  the  granting  of  new options in substitution therefore (to the
extent  not  theretofore  exercised).

          5.9. Other Provisions: The option agreements authorized under the Plan
               ----------------
shall  contain such other provisions, including without limitation, restrictions
upon  the exercise of the option, as the Committee and the Board of Directors of
the  Corporation shall deem advisable.  Thus, for example, the Committee and the
Board  of  Directors  may  require  that all or any portion of an option granted
hereunder not be exercisable until a specified period of time has passed or some
other  event  has  occurred.

     6.     TERM OF PLAN:  Options may be granted pursuant to the Plan from time
            ------------
to  time  within a period of ten (10) years from the date the Plan is adopted by
the  Corporation's  Board  of  Directors  or  is  approved  by the Corporation's
shareholders,  whichever  occurs  earlier.  Termination  of  the  Plan shall not
affect  any  option  previously  granted.

          7.  AMENDMENT  OF THE PLAN: To the extent permitted by law and subject
               ---------------------
to  any  required  approval  by  the  Corporation's  shareholders,  the Board of
Directors  may  suspend or discontinue the Plan or revise or amend it in any way
with  respect  to  any  shares  not  subject  to  options  at  that  time.

          8. APPLICATION OF FUNDS: The proceeds received by the Corporation from
             --------------------
the  sale  of  Stock  pursuant  to  options  may  be  used for general corporate
purposes.

<PAGE>

          9.  NO  OBLIGATION TO EXERCISE OPTION: The granting of an option shall
              --------------------------------
impose  no  obligation  upon  the  optionee  to  exercise  such  option.

          10.  SECURITIES  LAWS  COMPLIANCE:  Notwithstanding anything contained
               ---------------------------
herein,  the  Corporation  shall not be obligated to grant any option under this
Plan,  or  to  sell or issue any share pursuant to any option agreement executed
pursuant  to  the  Plan,  unless  the grant or sale is effectively registered or
exempt  from  registration  under the Securities Act of 1933, as amended, and is
qualified or exempt from qualification under the California Corporate Securities
Law  of  1968,  as  amended.

          As  adopted  by  the  Board  of  Directors  on May 2,  2003.

                                                 TMI  Holdings,  Inc.,
                                                 a  Florida  corporation

                                                     /s/ Scott Siegel
                                                 ______________________________
                                                 By:     Scott  Siegel
                                                 Its:     PresidentEXHIBIT 10.11

                            STOCK PURCHASE AGREEMENT

            THIS STOCK PURCHASE  AGREEMENT (the "Agreement") is made and entered
into as of the 5th day of May,  2003 by and among  Molichem  Medicines,  Inc., a
Delaware  corporation  with its principal place of business at 100 Europa Drive,
Suite 421,  Chapel Hill,  North Carolina 27517 ("MMI");  Gilles Cloutier with an
address at 100 Chestnut Road,  Chapel Hill,  North Carolina 27514  ("Cloutier");
and the Purchasers  listed on Schedule A attached  hereto and made a part hereof
(singly and collectively referred to herein as the "Purchasers")

                                    PREAMBLE

            WHEREAS,  MMI,  through its operating  subsidiary  Molichem R&D Inc.
("MRD") is engaged in the discovery, development and marketing of pharmaceutical
products for the treatment of serious respiratory and related conditions; and

            WHEREAS,  MMI has been unable to  adequately  fund and  complete the
development of its proposed products; and

            WHEREAS,  MMI has had no  operating  revenues  from  the sale of its
products since inception,  has incurred  substantial  losses from operations and
anticipates  that  operating  losses will continue and could increase until such
time, if ever,  that its compounds are  developed,  approved,  and  successfully
marketed; and

            WHEREAS, all of MRD's issued and outstanding shares of capital stock
are owned by MMI (the "MRD Shares");

            WHEREAS, the Purchasers have delivered $100,000 in escrow with MMI's
corporate  and  securities  counsel to fund  certain  expenses  relating  to the
corporate reorganization of MMI which will, among other things, involve the sale
of MRD; and

            WHEREAS, MMI has agreed to issue an aggregate of five million,  five
hundred  thousand  (5,500,000)  shares  of its  restricted  common  stock to the
Purchasers in consideration  thereof in accordance with the terms and conditions
of this agreement.

            NOW,  THEREFORE,  in  consideration  of  the  premises,  and  of the
promises, covenants and conditions contained herein, the parties intending to be
legally bound, hereby agree as follows:

<PAGE>

                                   WITNESSETH:

                                    ARTICLE 1

                                     CLOSING

            The  issuance  of the MMI Shares  shall take place at the offices of
Kaplan Gottbetter & Levenson,  LLP, 630 Third Avenue,  New York, New York 10017,
or such other place as the  parties  may  mutually  agree (the  "Closing").  The
Closing  shall  take  place  upon the  execution  of this  Agreement  or as soon
thereafter as is  practicable.  The date on which the Closing occurs is referred
to herein at the Closing Date. At the Closing:

            (a) Gilles  Cloutier  shall be  appointed  as sole officer of MMI in
conjunction with the  resignations of Luis Molina as  president/CEO  and Richard
Martin as CFO.  Mr.  Cloutier  shall assume the  positions  of MMI's  president,
secretary,  treasurer,  and chief executive,  financial, and accounting officer.
Gilles  Cloutier  shall  also  be  appointed  to  the  MMI  board,   which  upon
effectiveness of such appointment will consist of Luis Molina, Ronald Keeney and
Gilles Cloutier.

            (b) An aggregate of 5,500,000  shares (the "Funding  Shares") of MMI
restricted  common stock shall be issued to the Purchasers in  consideration  of
their $100,000  funding of MMI's  reorganization.  The Funding Shares shall have
anti-dilution   rights   with   respect   to  any   reverse   stock   splits  or
recapitalizations  effected  by MMI  within one year of this  Agreement.  In the
event any reverse stock splits or  recapitalizations  are effected by MMI within
such one year period,  the Funding  Shares will not be reduced in number by more
than 50%,  such that at the end of the one year  period,  the  number of Funding
Shares outstanding shall not have been reduced to less than 2,750,000.

                                    ARTICLE 2

                           EXEMPTION FROM REGISTRATION

            (a)  The  Purchasers   hereby  represent,   warrant,   covenant  and
acknowledge that:

                        (1) The Funding  Shares are being issued to them without
            registration under the provisions of Section 5 of the Securities Act
            of 1933, as amended (the "Act"),  pursuant to the exemption provided
            pursuant to Sections 4(2) thereof;

                        (2) The  Purchasers are acquiring the Funding Shares for
            investment  purposes  only,  and not with a view to further  sale or
            distribution.

                                    ARTICLE 3
                REPRESENTATIONS, WARRANTIES AND COVENANTS OF MMI

            MMI hereby  represents,  warrants and  covenants to Cloutier and the
Purchasers as follows:

            (a) MMI is a corporation duly organized,  validly  existing,  and in
good  standing  under  the laws of the  State  of  Delaware,  and has the  legal
capacity and all  necessary  corporate  authority to enter into and perform this
Agreement and to consummate the transactions contemplated hereby;

            (b) As soon as practicable following the Closing, MMI shall transfer
and assign all of its assets  and  liabilities  to MRD,  at which time MRD shall
have good and marketable title to all of its assets free and clear of all liens,
claims, charges, and any other encumbrances.

<PAGE>

            (c)  At  the  Closing,   MMI  and  MRD  shall  have  no  outstanding
subscriptions,  options,  warrants,  or other convertible  securities that could
result in an obligation to issue  additional  capital stock of MMI or MRD except
as otherwise set forth in Schedule 3(c);

            (d) This Agreement has been duly authorized,  executed and delivered
by MMI and constitutes a legal, valid and binding obligation of MMI, enforceable
against MMI in accordance with its terms;

            (e) There is no  litigation  or  proceeding  pending or, to the best
knowledge of MMI threatened, against MRD or MMI or the properties of MRD or MMI;

            (f) MMI and MRD have filed  (except  for 2002 tax  returns for which
extension requests have been filed) with the appropriate  governmental  agencies
all tax returns and tax reports  required to be filed;  all  Federal,  state and
local income,  franchise,  sales,  use,  occupation or other taxes due have been
fully  paid or  adequately  reserved  for;  and MMI or MRD is not a party to any
action or proceeding by any governmental  authority for assessment or collection
of taxes, nor has any claim for assessments been asserted against MMI or MRD;

            (g)  There  are   presently  no  contingent   liabilities,   factual
circumstances,  contractually  assumed obligations or unasserted possible claims
which are known to MMI,  which might result in a material  adverse change in the
future financial condition or operations of MMI;

            (h) Immediately prior to Closing, there will be 18,679,287 shares of
MMI common stock issued and outstanding.

                                    ARTICLE 4
          REPRESENTATIONS, WARRANTIES AND COVENANTS OF CLOUTIER AND THE
                                   PURCHASERS

            Cloutier and the Purchasers  hereby  represent and warrant to MMI as
follows:

            (a) They have all necessary authority to enter into and perform this
Agreement and to consummate the transactions contemplated hereby;

            (b) This Agreement constitutes a legal, valid and binding obligation
of each of Cloutier and the  Purchasers,  enforceable  against  Cloutier and the
Purchasers in accordance with its terms;

                                    ARTICLE 5
                                     NOTICE

            All notices,  demands or other  communications given hereunder shall
be in writing and shall be deemed to have been duly given when  received if sent
by fax or overnight courier, and if mailed shall be deemed to have been given on
the first  business day after mailing by United  States  registered or certified
mail, return receipt requested, postage prepaid, addressed as follows:

            To Cloutier and/or         Gilles Cloutier
            the Purchasers             100 Chestnut Road
                                       Chapel Hill, North Carolina 27514
                                       Telephone: (919) 942-4245
                                       Facsimile:  (919) 933-0664

<PAGE>

            with a copy to:            Kaplan Gottbetter & Levenson, LLP
                                       630 Third Avenue
                                       New York, NY 10017
                                       Attention: Adam S. Gottbetter

            To MMI:                    c/o Dr. Luis Molina
                                       100 Europa Drive, Suite 421
                                       Chapel Hill, North Carolina 27517
                                       Telephone: (919) 960-0217
                                       Facsimile:  (919) 929-3447

                                    ARTICLE 6
                                  MISCELLANEOUS

            (a) Each of MMI,  Cloutier  and the  Purchasers  agrees to take such
actions as are  reasonably  necessary to carry out the intentions of the parties
under this  Agreement,  including  but not limited to the prompt  execution  and
delivery  of any  documents  reasonably  necessary  to carry out and perform the
terms or intention of this Agreement.

            (b) Certain  costs and  expenses  incurred in  connection  with this
Agreement and the transactions  contemplated hereby shall be paid from an escrow
account held by Kaplan Gottbetter & Levenson, LLP, as previously agreed.

            (c) This Agreement  shall be governed by and construed in accordance
with the laws of the State of New York,  without  regard to conflicts of laws of
principles  and  each  party  hereby  agrees  that  all   performances  due  and
transactions  undertaken pursuant to this Agreement shall be deemed to be due or
have occurred in New York, and the exclusive venue and place of jurisdiction for
any litigation  arising from or related to this Agreement  shall be the state or
federal courts located in the State and County of New York.

            (d) The headings used in this Agreement are for convenience only, do
not form a part of this  Agreement,  and shall not affect in any way the meaning
or interpretation of this Agreement.

            (e) This Agreement may be executed in one or more counterparts which
when taken together shall constitute one agreement.

            (f) This Agreement is intended for the benefit of the parties hereto
and is not for the benefit of, nor may any provisions  hereof be enforced by any
other person, firm or entity.

            (g) This  Agreement  may be amended,  modified and  supplemented  in
writing only by the mutual consent of the parties hereto.

            (h) This Agreement and all of the provisions hereof shall be binding
upon and  inure to the  benefit  of the  parties  hereto  and  their  respective
successors  and  permitted  assigns,  but neither this  Agreement nor any of the
rights,  interests  or  obligations  hereunder  shall be  assigned by any of the
parties hereto without the prior written  consent of the other parties,  and any
attempts to do so without the consent of the other  parties shall be void and of
no effect.

<PAGE>

            (i) In the event any party breaches the terms of this Agreement, the
non-breaching parties shall be entitled to the recovery of their attorney's fees
and other  professional  costs  and fees  incurred  in  enforcing  their  rights
hereunder.

            (j) This writing  constitutes the entire agreement and understanding
between the parties hereto with respect to the subject matter contained  herein.
Neither  party is relying on any  representation  or statement  not contained in
this  writing.  This  Agreement  supercedes  and  cancels  any prior  agreements
relating to the subject matter contained herein.

            IN WITNESS  WHEREOF,  the parties hereto have executed and delivered
this Agreement as of the date first written above.

MOLICHEM MEDICINES, INC.                          THE PURCHASERS:

By:  /S/ LUIS MOLINA                              /S/ JEAN GUY LAMBERT

        Name:   Luis Molina, PhD.                 Jean Guy Lambert
        Title:     President

                                                  GROUP INTERCAPITAL, INC.

        /S/ GILLES CLOUTIER                 By:   /S/ CLAUDE GENDRON
        ----------------------------              ------------------------
        Gilles Cloutier                     Claude Gendron, President

                                                  GESTION CM 2000 INC.

                                            By:   /S/ CHANTAL LAMBERT

                                                  Chantal Lambert, President

                                                  /S/ DAVID LAMBERT

                                                  David Lambert

                                                  /S/ CHANTAL LAMBERT

                                                  Chantal Lambert

<PAGE>

                                   SCHEDULE A

NAME                                     NUMBER OF FUNDING SHARES
-------------------------------------    -----------------------------
Gestion CM 2000, Inc.                    500,000
c/o Jean Guy Lambert
1801 McGill College Avenue Suite 1260
Montreal, Quebec H3A 2N4

David Lambert                            500,000
26 Brendan Road
East York, Toronto M4G 2X1

Chantal Lambert                          500,000
600 Du Muscadet
Rosemere, Quebec J7A 4W8

Jean Guy Lambert                         1,250,000
1801 McGill College Avenue
Suite 1260
Montreal, Quebec H3A 2N4

Group Intercapital, Inc.                 2,750,000
300 St. Sacrement Street
Suite 414
Montreal, Quebec H24 1X4

TOTAL                                    5,500,000

<PAGE>

                                  SCHEDULE 3(C)

  LIST OF MOLICHEM MEDICINES, INC. OUTSTANDING SUBSCRIPTIONS, OPTIONS, WARRANTS
                   OR OTHER CONVERTIBLE SECURITIES AT CLOSING

<TABLE>
<CAPTION>
STOCK OPTIONS:
NAME                        NUMBER OF OPTIONS            EXERCISE PRICE         EXERCISE PERIOD
----                        -----------------            --------------         ---------------
<S>                         <C>                          <C>                    <C>
Luis Molina                 220,000                      $1.50                  Through 1/29/11
Gilles Cloutier             550,000                      $1.50                  Through 1/18/06 (200,000); Through
                                                                                6/21/11 (350,000)
Jacques Gagne               100,000                      $1.50                  Through 1/18/06
Terry Williams              214,445                      $1.50                  Through 1/29/11
Ron Keeney                  161,805                      $.01 (20,138);         Through 9/9/07 (20,138); Through
                                                         $1.50 (141,667)        1/18/06 (100,000); Through 9/16/11
                                                                                (41,667)
Vatche Tchakamakian         150,000                      $1.50                  Through 1/18/06
Jean Guy Lambert            100,000                      $1.50                  Through 1/18/06
Claude Gendron              100,000                      $1.50                  Through 1/18/06
Richard Franco              20,864                       $.01                   Through 9/9/07
Richard Martin              20,000                       $3.50                  Through 6/30/05
John Dilberger              49,382                       $.01                   Through 9/9/07
F. Ronald Stanton           30,864                       $.01                   Through 9/9/07
Read McNamara               28,000                       $1.50                  Through 1/18/06
Caroline Rockafellow        10,000                       $1.50                  Through 6/26/11
Paul Mahon                  10,000                       $1.50                  Through 6/26/11
Mary Jane Swing             2,500                        $3.50                  Through 6/20/11
                            ---------------------
TOTAL                       1,767,860
</TABLE>

     LIST OF MOLICHEM R&D, INC. OUTSTANDING SUBSCRIPTIONS, OPTIONS, WARRANTS
                   OR OTHER CONVERTIBLE SECURITIES AT CLOSING

                                      None.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]