Document:

Exhibit 10.17

THESE  SECURITIES HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS
AMENDED.  THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF A  REGISTRATION  STATEMENT IN EFFECT WITH  RESPECT TO THE  SECURITIES
UNDER SUCH ACT OR AN OPINION OF COUNSEL  SATISFACTORY  TO THE COMPANY  THAT SUCH
REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.

THIS WARRANT AND THE SHARES PURCHASABLE HEREUNDER ARE SUBJECT TO RESTRICTIONS ON
TRANSFER AS SET FORTH HEREIN.

                               WARRANT TO PURCHASE
                                 588,235 SHARES
                               OF COMMON STOCK OF
                           HEALTHSCIENCES GROUP, INC.

(Void after February 24, 2008)

This certifies that Castlerigg Master Investments, Ltd. or its permitted assigns
(collectively,  the "Holder"),  for value received, is entitled to purchase from
HEALTHSCIENCES  GROUP, INC., a Colorado corporation (the "Company"),  subject to
the terms set forth below,  588,235 fully paid and nonassessable shares (subject
to  adjustment as provided  herein) (the "Warrant  Shares") of the common stock,
par value $0.001 per share, of the Company  ("Common Stock") for cash at a price
per share of $1.25 (the  "Exercise  Price")  (subject to  adjustment as provided
herein),  subject to the provisions of Section 1.1 of this Warrant,  at any time
or from time to time up to and  including  5:00 p.m.  (Eastern  Time) on the 5TH
anniversary  from the date  hereof,  such day  being  referred  to herein as the
"Expiration  Date," upon surrender to the Company at its principal office (or at
such other  location  as the  Company  may advise the Holder in writing) of this
Warrant  properly  endorsed with the Form of  Subscription  attached hereto duly
filled in and signed and upon payment of the  aggregate  Exercise  Price for the
number of  shares  for which  this  Warrant  is being  exercised  determined  in
accordance with the provisions hereof. The Warrant Shares,  when issued, may not
be  registered  under  the  Securities  Act of  1933  (the  "Act"),  and  may be
restricted within the meaning of Regulation D of such Act. The Exercise Price is
subject to adjustment as provided in Section 3 of this Warrant.  This Warrant is
issued  pursuant to that  certain  Securities  Purchase  Agreement,  between the
Company and the Holder.  All capitalized terms not defined herein shall have the
meanings provided in the Securities Purchase  Agreement.  This Warrant is issued
subject to the following terms and conditions:

         Exercise; Issuance of Certificates.

         General.  This  Warrant is  exercisable  at the option of the Holder of
record on or prior to the Expiration  Date, at any time or from time to time for
all or any part of the Warrant Shares (but not for a fraction of a share), which
may be purchased hereunder, as that number may be adjusted pursuant to Section 3
of this Warrant. The Company agrees that the Warrant Shares purchased under this
Warrant  shall be and are deemed to be issued to the Holder as the record  owner
of such  Warrant  Shares as of the close of  business  on the date on which this
Warrant  shall have been  surrendered,  properly  endorsed,  the  completed  and
executed  Form of  Subscription  delivered,  and payment  made for such  Warrant
Shares.  Certificates  for the Warrant  Shares so  purchased,  together with any
other securities or property to which the Holder is entitled upon such exercise,
shall be delivered to the Holder by the Company at the Company's expense as soon
as  practicable  after  the  rights  represented  by this  Warrant  have been so
exercised.  In case of a purchase of less than all the Warrant  Shares which may
be  purchased  under this  Warrant,  the Company  shall  cancel this Warrant and
execute  and  deliver to the Holder  within a  reasonable  time a new Warrant or
Warrants of like tenor for the balance of the Warrant Shares  purchasable  under
the Warrant surrendered upon such purchase.  Each stock certificate so delivered
shall be registered in the name of the Holder.

1.2  Consideration  The Exercise Price shall be payable at the time of exercise.
The Exercise Price may be paid in cash (by cashiers'  check or wire transfer) or
by: (i) surrender of shares of Common Stock of the Company  already owned by the
Holder, having a Market Price (as defined below) equal to the Exercise Price per
share;  or (ii) upon  surrender  of the Warrant at the  principal  office of the
Company together with notice of election.  In the event of exercise by surrender
of shares of this  Warrant,  the Company  shall issue Holder a number of Warrant
Shares computed using the following formula:

X = Y (A-B)/A

                                       1
<PAGE>

where:  X = the number of Warrant  Shares to be issued to Holder  (not to exceed
the number of Shares set forth on the cover page of this Warrant  Agreement,  as
adjusted pursuant to the provisions of Section 6 of this Warrant Agreement).

Y = the number of Warrant Shares for which the Warrant is being exercised.

A = the Market  Price of one Share  (for  purposes  of this  Section  1.2),  the
"Market  Price"  shall be defined as the closing  price on the exchange on which
the Common  Stock  traded for the  trading  day prior to the date of exercise of
this  Warrant  Agreement;  provided  if the  Common  Stock does not trade on any
exchange,   the  Market   Price  shall  equal  the  closing  bid  price  in  the
over-the-counter  market for the  trading  day prior to the date of  exercise of
this Warrant  Agreement,  as reported by the National  Association of Securities
Dealers Automated  Quotation System;  and, provided further,  that if the common
stock is not quoted or listed by any organization,  the fair value of the common
stock,  as  determined  by  the  Board  of  Directors  of  the  Company,   whose
determination shall be conclusive, shall be used).

B = the Exercise Price.

1.3 Record  Ownership.  To the extent permitted by applicable law, the person in
whose name any  certificate  for  shares of Common  Stock or other  evidence  of
ownership of any other security is issued upon exercise of the Warrant shall for
all  purposes  be deemed to have  become the holder of record of such  shares or
other security on the date of delivery of the subscription form, irrespective of
the date of  delivery  of such  certificate  or  other  evidence  of  ownership,
notwithstanding  that the transfer  books of the Company shall then be closed or
that such  certificates  or other evidence of ownership  shall not then actually
have been delivered to such person.

1.4  Regulatory  Problem.  The Holder shall not exercise or exchange the Warrant
for shares of Common Stock if after giving  effect to such  exercise or exchange
the Holder  reasonably  determines  that such exercise  would violate any law or
regulation or any requirement of any governmental authority applicable to Holder
or its affiliates.

         Shares to be Fully  Paid.  The  Company  covenants  and agrees that all
Warrant  Shares,  will,  upon  issuance and payment of the  applicable  Exercise
Price, be duly authorized,  validly issued,  fully paid and  nonassessable,  and
free of all liens and encumbrances, except for restrictions on transfer provided
for herein or under applicable federal and state securities laws.

         Adjustment of Exercise Price and Number of Shares.

3.1  Adjustment for  Reorganization,  Consolidation,  Merger,  etc. The Exercise
Price and the number of Warrant  Shares shall be  proportionately  adjusted from
time to time  upon the  occurrence  of an  increase  in the  number of shares of
Common Stock  outstanding by a stock dividend  payable in shares of Common Stock
or a subdivision or split-up of shares of Common Stock, a decrease in the number
of shares of Common Stock outstanding by a combination of outstanding  shares of
Common  Stock,  any capital  reorganization  or any  reclassification  of Common
Stock,  or the  consolidation,  merger,  combination  or exchange of shares with
another  entity,  or the  divisive  reorganization  of the  Company.  Upon  each
adjustment of the Exercise Price, the Holder of this Warrant shall thereafter be
entitled to purchase, at the Exercise Price resulting from such adjustment,  the
number  of  shares   obtained  by  multiplying  the  Exercise  Price  in  effect
immediately  prior  to such  adjustment  by the  number  of  shares  purchasable
pursuant hereto  immediately prior to such adjustment,  and dividing the product
thereof by the Exercise  Price  resulting  from such  adjustment.  The number of
Shares  purchasable  upon the exercise of each Warrant is subject to  adjustment
from time to time upon the occurrence of any of the events enumerated below:

In case the Company (i) consolidates with or merges into any other entity and is
not the continuing or surviving entity of such  consolidation or merger, or (ii)
permits any other entity to  consolidate  with or merge into the Company and the
Company is the  continuing  or surviving  Company but, in  connection  with such
consolidation  or merger,  the Common  Stock is changed  into or  exchanged  for
common  stock or other  securities  of any  other  entity  or cash or any  other
assets, or (iii) transfers all or substantially all of its properties and assets
to any other entity, or (iv) effects a reorganization or reclassification of the
equity  of the  Company  in such a way that  holders  of Common  Stock  shall be
entitled to receive  stock,  securities,  cash or assets  with  respect to or in
exchange for Common Stock,  then, and in each such case,  proper provision shall
be made so that,  upon the  exercise  of this  Warrant  at any  time  after  the
consummation  of  such  consolidation,   merger,  transfer,   reorganization  or
reclassification,  the Holder  shall be entitled  to receive  (at the  aggregate
Exercise  Price in effect for Common Stock  issuable  upon such exercise of this

<PAGE>

Warrant  immediately  prior  to such  consummation),  in lieu  of  Common  Stock
issuable  upon such  exercise of this Warrant  prior to such  consummation,  the
stock and other securities, cash and assets to which such Holder would have been
entitled  upon such  consummation  if such Holder had so exercised  this Warrant
immediately prior thereto.

3.2  Adjustments  for Certain  Issuances of Securities  The Exercise Price shall
also be subject to adjustment in accordance  with Section 4(g) of the Securities
Purchase Agreement.

         Registration.  The Warrant Shares shall be subject to  registration  at
the expense of the Company pursuant to the Registration Rights Agreement between
the Company and the Holder dated as of the date hereof.

         Voting Rights.  Nothing contained in this Warrant shall be construed as
conferring  upon the Holder the right to vote or to consent to or receive notice
as a shareholder of the Company on any other matters or any rights whatsoever as
a shareholder of the Company.

         Compliance with Securities Act: Transferability of Warrant, Disposition
of Shares of Common Stock.

         Compliance  with  Securities  Act. The Holder,  by  acceptance  hereof,
agrees  that this  Warrant and the  Warrant  Shares to be issued  upon  exercise
hereof are being acquired for  investment  and that it will not offer,  sell, or
otherwise   dispose  of  this  Warrant  or  any  Warrant   Shares  except  under
circumstances  which will not result in a violation of the Securities Act or any
applicable  state  securities  laws. This Warrant and all Warrant Shares (unless
registered  under  the Act)  shall be  stamped  or  imprinted  with a legend  in
substantially the following form:

THESE  SECURITIES HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS
AMENDED OR THE  SECURITIES OR BLUE SKY LAWS OF ANY STATE.  THEY MAY NOT BE SOLD,
OFFERED FOR SALE,  PLEDGED,  OR  HYPOTHECATED  IN THE ABSENCE OF A  REGISTRATION
STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES  UNDER SUCH ACT OR AN OPINION
OF COUNSEL  SATISFACTORY TO THE COMPANY THAT SUCH  REGISTRATION IS NOT REQUIRED,
OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.

         Accredited  Investor;  Access to  Information.  Holder  represents  and
warrants that as of the date hereof Holder is an accredited  investor within the
meaning of Rule 501 of  Regulation D promulgated  under the Act.  Holder has had
the  opportunity to ask questions of, and to receive  answers from,  appropriate
executive  officers of the Company with respect to the terms and  conditions  of
the transactions contemplated hereby and with respect to the business,  affairs,
financial  condition and results of  operations  of the Company.  Holder has had
access to such  financial  and other  information  as is  necessary in order for
Holder to make a fully  informed  decision as to investment in the Company,  and
has had the opportunity to obtain any additional information necessary to verify
any of such information to which Holder has had access.

         Warrant Transferable. Subject to compliance with applicable federal and
state securities laws under which this Warrant was issued,  this Warrant and all
rights hereunder are  transferable,  in whole or in part,  without charge to the
Holder  (except for transfer  taxes),  upon  surrender of this Warrant  properly
endorsed; provided, however, that the Holder shall notify the Company in writing
in advance of any proposed  transfer and shall not transfer  this Warrant or any
rights  hereunder  to any person or entity  which,  in the sole  judgment of the
Company's  board  of  directors,  is  then  engaged  in a  business  that  is in
competition  with the Company,  or is otherwise  engaged in an effort to acquire
control of the Company.  As promptly as practicable  but in any event within ten
(10)  Business Days of receipt of such properly  endorsed  Warrant,  the Company
shall  issue,  register  and  deliver  to the  Holder  thereof a new  Warrant or
Warrants  of like  kind and tenor  representing  in the  aggregate  the right to
purchase the same number of Warrant  Shares that could be purchased  pursuant to
the Warrant  being  transferred.  Holder shall pay  Company's  reasonable  costs
incurred in effectuating such transfer.

         Disposition  of Warrant  Shares.  With respect to any offer,  sale,  or
other  disposition of the Warrant,  or any Warrant Shares if such shares are not
registered and freely tradable under the Act when issued,  the Holder hereof and
each  subsequent  Holder of this Warrant  agrees to give  written  notice to the
Company prior thereto,  describing  briefly the manner thereof,  together with a
written  opinion  of such  holder's  counsel,  if  reasonably  requested  by the
Company,  to the  effect  that  such  offer,  sale or other  disposition  may be
effected without  registration or qualification (under the Act as then in effect
or any federal or state law then in effect) of the Warrant or Warrant Shares, as
the case may be, and indicating  whether or not under the Act  certificates  for
the Warrant or Warrant  Shares to be sold or  otherwise  disposed of require any
restrictive legend as to applicable  restrictions on transferability in order to
insure  compliance with the Act. Promptly upon receiving such written notice and
opinion,  the Company, as promptly as practicable,  shall notify the Holder that

<PAGE>

such Holder may sell or otherwise dispose of the Warrant or Warrant Shares,  all
in  accordance  with the terms of the  notice  delivered  to the  Company.  If a
determination  has been made pursuant to this  subparagraph 6.4 that the opinion
of the counsel for the Holder is not reasonably satisfactory to the Company, the
Company shall so notify the Holder  promptly after such  determination  has been
made.  Notwithstanding  the  foregoing,  the  Warrant or  Warrant  Shares may be
offered,  sold or otherwise  disposed of in  accordance  with Rule 144 under the
Act,  provided that the Company shall have been furnished with such  information
as the Company may request to provide  reasonable  assurance that the provisions
of Rule 144 have been satisfied.  Each  certificate  representing the Warrant or
Warrant Shares thus transferred  (except a transfer  pursuant to Rule 144) shall
bear a legend as to the applicable  restrictions on  transferability in order to
insure  compliance with the Act, unless in the aforesaid  opinion of counsel for
the Holder,  such legend is not required in order to insure  compliance with the
Act. The Company may issue stop transfer  instructions  to its transfer agent in
connection with such restrictions.

       Limitation on Warrant Shares Notwithstanding  anything else herein to the
contrary,  the Holder of this Warrant may not exercise any Warrant to the extent
that after such  conversion,  the number of shares of Common  Stock owned by the
Holder and its affiliates (other than shares of Common Stock which may be deemed
beneficially  owned  through the  ownership  of the  unconverted  portion of the
Debentures  and any  unexercised  Warrants),  would  result in  ownership by the
Holder  and  its  affiliates  of  4.99%  or  more of the  Company's  issued  and
outstanding  shares of Common Stock  following such exercise.  In the event that
the Holder owns both  Debentures  and Warrants which would  otherwise  result in
ownership of 4.99% or more of the  Company's  issued and  outstanding  shares of
Common Stock but for the prior  sentence,  then the Warrants  shall be deemed to
not be exercisable to the extent necessary to allow conversion of the Debentures
to the maximum extent possible and still permit the Holder's ownership to remain
below  4.99%.  This  restriction  shall be binding  upon any  transferee  of the
Warrant from any Holder.  The preceding  shall not  interfere  with the Holder's
right to exercise this Warrant over time which in the aggregate totals more than
4.99% of the then outstanding  shares of Common Stock so long as such Holder and
its affiliates do not own more than 4.99% of the then  outstanding  Common Stock
at any given time.

         Modification  and Waiver.  This Warrant and any provision hereof may be
changed,  waived,  discharged,  or  terminated  only by an instrument in writing
signed by the party against which enforcement of the same is sought.

         Notices.  Any notice,  request, or other document required or permitted
to be given or delivered to the Holder  hereof or the Company shall be delivered
or shall be sent by  certified  mail,  postage  prepaid,  or by  facsimile  with
confirmation  of  transmission  to the  parties at the  address set forth in the
Securities Purchase Agreement,  or such other address as either may from time to
time provide to the other.

         Governing Law; Waiver of Jury Trial.

         Governing  Law.  This  Warrant  shall be governed by and  construed  in
accordance  with the laws of the State of  Colorado  as  applied  to  agreements
executed  and  performed  in such  state.  Each of the  parties  consents to the
exclusive  jurisdiction of the federal courts whose districts encompass any part
of the City of New York or the state  courts of the State of New York sitting in
the City of New York in connection  with any dispute  arising under this Warrant
and hereby  waives,  to the maximum  extent  permitted  by law,  any  objection,
including any  objection  based on forum non  coveniens,  to the bringing of any
such  proceeding in such  jurisdictions.  The Company shall reimburse the Holder
for any  reasonable  legal  fees and  disbursements  incurred  by the  Holder in
enforcement of or protection of any of its rights under this Warrant.

                  9.2  Waiver  of  Jury  Trial.   BECAUSE  DISPUTES  ARISING  IN
CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY
RESOLVED BY AN  EXPERIENCED  AND EXPERT  PERSON AND THE PARTIES WISH  APPLICABLE
LAWS TO APPLY (RATHER THAN  ARBITRATION  RULES),  THE PARTIES  DESIRE THAT THEIR
DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH  APPLICABLE  LAWS.  THEREFORE,  TO
ACHIEVE  THE BEST  COMBINATION  OF THE  BENEFITS OF THE  JUDICIAL  SYSTEM AND OF
ARBITRATION,  THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,
SUIT OR  PROCEEDING  BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR  REMEDIES  UNDER
THIS AGREEMENT OR ANY DOCUMENTS RELATED HERETO.

         Exchange of Warrant.

         Lost Warrant.  The Company represents and warrants to the Holder hereof
that upon  receipt of  evidence  reasonably  satisfactory  to the Company of the
loss, theft, destruction,  or mutilation of this Warrant and, in the case of any
such  loss,  theft or  destruction,  upon  receipt  of an  indemnity  reasonably
satisfactory  to  the  Company,  or in the  case  of any  such  mutilation  upon
surrender and  cancellation  of the Warrant,  the Company will, at the Company's
expense,  make and deliver a new  Warrant,  of like tenor,  in lieu of the lost,
stolen, destroyed or mutilated Warrant.

<PAGE>

10.2  Exchange.  The Holder  may  exchange  this  Warrant  at its  option,  upon
presentation  and  surrender of this Warrant to Company,  for other  Warrants of
different  denominations,  entitling the Holder to purchase in the aggregate the
same number of Warrant  Shares.  A Warrant may be divided or combined with other
Warrants that carry the same rights, upon presentation  thereof at the principal
office of the Company,  together with written  notice  specifying  the names and
denominations  in which new  Warrants  are to be issued and signed by the holder
thereof.  In order to effect an exchange  permitted  by this Section  10.2,  the
Holder  shall  deliver to the  Company  this  Warrant  accompanied  by a written
request  signed by the Holder  specifying  the number and  denominations  of the
Warrant or the Warrants to be issued in such exchange and the names in which the
Warrant or Warrants  are to be issued.  As promptly  as  practicable  but in any
event within ten (10)  Business  Days of receipt of such a request,  the Company
shall, without charge, issue, register and deliver to the Holder each Warrant to
be issued in such exchange.

         Fractional  Shares.  No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the  Holder  entitled  to such  fraction  a sum in cash  equal to such  fraction
(calculated to the nearest 1/100th of a share)  multiplied by the then effective
Exercise Price on the date the Form of Subscription is received by the Company.

         Successors and Assigns.  This Warrant and the rights  evidenced  hereby
shall inure to the benefit of and be binding upon the  successors and assigns of
the Company and successors and permitted  assigns of the Holder.  The provisions
of this  Warrant are  intended to be for the benefit of all Holders from time to
time of this Warrant, and shall be enforceable by any such Holder.

13.  Preparation  of Warrant.  The Company  prepared this Warrant  solely on its
behalf.  Each party to this  Warrant  acknowledges  that:  (i) the party had the
advice of, or  sufficient  opportunity  to obtain the advice of,  legal  counsel
separate and  independent of legal counsel for any other party hereto;  (ii) the
terms of the  transactions  contemplated by this Warrant are fair and reasonable
to  such  party;  and  (iii)  such  party  has  voluntarily   entered  into  the
transactions contemplated by this Warrant without duress or coercion. Each party
further acknowledges that such party was not represented by the legal counsel of
any other party hereto in connection with the transactions  contemplated by this
Warrant,  nor was he or it under any  belief or  understanding  that such  legal
counsel  was  representing  his or its  interests.  Each  party  agrees  that no
conflict,  omission or ambiguity in this Warrant, or the interpretation thereof,
shall be  presumed,  implied or otherwise  construed  against any other party to
this  Warrant on the basis that such party was  responsible  for  drafting  this
Warrant.

IN WITNESS  WHEREOF,  the Company has caused this Warrant to be duly executed by
its officer, thereunto duly authorized as of May____, 2003.

COMPANY:

HEALTH SCIENCES GROUP, INC.,
a Colorado corporation

                                      By:  _______________________________
                                      Its:  _______________________________

<PAGE>

FORM OF SUBSCRIPTION

(To be signed only upon exercise of Warrant)

To:      HEALTHSCIENCES GROUP, INC.

The  undersigned,  the  holder of the  attached  Common  Stock  Warrant,  hereby
irrevocably  elects to exercise the purchase  right  represented by such Warrant
for,  and  to  purchase  thereunder,  _____________shares  of  Common  Stock  of
HEALTHSCIENCES  GROUP,  INC.  (the  "Company")  and  herewith  makes  payment of
$_________ therefor.

The  undersigned  represents  that it is acquiring such Common Stock for its own
account for investment and not with a view to or for sale in connection with any
distribution thereof. The undersigned requests that certificates for such shares
be issued in the name of, and delivered to,  _____________________whose  address
is                                                                ______________
---------------------------------------------------------------------.

DATED:   _________________

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

Name:    _________________________________

Title:   _________________________________Exhibit 10.18

THESE  SECURITIES HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS
AMENDED.  THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF A  REGISTRATION  STATEMENT IN EFFECT WITH  RESPECT TO THE  SECURITIES
UNDER SUCH ACT OR AN OPINION OF COUNSEL  SATISFACTORY  TO THE COMPANY  THAT SUCH
REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.

THIS WARRANT AND THE SHARES PURCHASABLE HEREUNDER ARE SUBJECT TO RESTRICTIONS ON
TRANSFER AS SET FORTH HEREIN.

                               WARRANT TO PURCHASE
                                  88,235 SHARES
                               OF COMMON STOCK OF
                           HEALTHSCIENCES GROUP, INC.

(Void after May 21, 2008)

This  certifies  that  Vestcom  or  its  permitted  assigns  (collectively,  the
"Holder"),  for value  received,  is entitled to  purchase  from  HEALTHSCIENCES
GROUP,  INC., a Colorado  corporation (the "Company"),  subject to the terms set
forth below,  88,235 fully paid and nonassessable  shares (subject to adjustment
as provided herein) (the "Warrant Shares") of the common stock, par value $0.001
per share,  of the  Company  ("Common  Stock")  for cash at a price per share of
$1.25 (the "Exercise Price") (subject to adjustment as provided herein), subject
to the  provisions of Section 1.1 of this  Warrant,  at any time or from time to
time up to and including 5:00 p.m.  (Eastern Time) on the 5TH  anniversary  from
the date hereof,  such day being  referred to herein as the  "Expiration  Date,"
upon surrender to the Company at its principal office (or at such other location
as the  Company  may advise  the Holder in  writing)  of this  Warrant  properly
endorsed with the Form of Subscription attached hereto duly filled in and signed
and upon payment of the  aggregate  Exercise  Price for the number of shares for
which  this  Warrant  is  being  exercised  determined  in  accordance  with the
provisions hereof. The Warrant Shares,  when issued, may not be registered under
the Securities Act of 1933 (the "Act"), and may be restricted within the meaning
of  Regulation  D of such Act. The Exercise  Price is subject to  adjustment  as
provided in Section 3 of this Warrant.  This Warrant is issued  pursuant to that
certain Securities Purchase  Agreement,  between the Company and the Holder. All
capitalized  terms not defined  herein shall have the  meanings  provided in the
Securities Purchase  Agreement.  This Warrant is issued subject to the following
terms and conditions:

         Exercise; Issuance of Certificates.

         General.  This  Warrant is  exercisable  at the option of the Holder of
record on or prior to the Expiration  Date, at any time or from time to time for
all or any part of the Warrant Shares (but not for a fraction of a share), which
may be purchased hereunder, as that number may be adjusted pursuant to Section 3
of this Warrant. The Company agrees that the Warrant Shares purchased under this
Warrant  shall be and are deemed to be issued to the Holder as the record  owner
of such  Warrant  Shares as of the close of  business  on the date on which this
Warrant  shall have been  surrendered,  properly  endorsed,  the  completed  and
executed  Form of  Subscription  delivered,  and payment  made for such  Warrant
Shares.  Certificates  for the Warrant  Shares so  purchased,  together with any
other securities or property to which the Holder is entitled upon such exercise,
shall be delivered to the Holder by the Company at the Company's expense as soon
as  practicable  after  the  rights  represented  by this  Warrant  have been so
exercised.  In case of a purchase of less than all the Warrant  Shares which may
be  purchased  under this  Warrant,  the Company  shall  cancel this Warrant and
execute  and  deliver to the Holder  within a  reasonable  time a new Warrant or
Warrants of like tenor for the balance of the Warrant Shares  purchasable  under
the Warrant surrendered upon such purchase.  Each stock certificate so delivered
shall be registered in the name of the Holder.

1.2  Consideration  The Exercise Price shall be payable at the time of exercise.
The Exercise Price may be paid in cash (by cashiers'  check or wire transfer) or
by: (i) surrender of shares of Common Stock of the Company  already owned by the
Holder, having a Market Price (as defined below) equal to the Exercise Price per
share;  or (ii) upon  surrender  of the Warrant at the  principal  office of the
Company together with notice of election.  In the event of exercise by surrender
of shares of this  Warrant,  the Company  shall issue Holder a number of Warrant
Shares computed using the following formula:

<PAGE>

X = Y (A-B)/A

where:  X = the number of Warrant  Shares to be issued to Holder  (not to exceed
the number of Shares set forth on the cover page of this Warrant  Agreement,  as
adjusted pursuant to the provisions of Section 6 of this Warrant Agreement).

Y = the number of Warrant Shares for which the Warrant is being exercised.

A = the Market  Price of one Share  (for  purposes  of this  Section  1.2),  the
"Market  Price"  shall be defined as the closing  price on the exchange on which
the Common  Stock  traded for the  trading  day prior to the date of exercise of
this  Warrant  Agreement;  provided  if the  Common  Stock does not trade on any
exchange,   the  Market   Price  shall  equal  the  closing  bid  price  in  the
over-the-counter  market for the  trading  day prior to the date of  exercise of
this Warrant  Agreement,  as reported by the National  Association of Securities
Dealers Automated  Quotation System;  and, provided further,  that if the common
stock is not quoted or listed by any organization,  the fair value of the common
stock,  as  determined  by  the  Board  of  Directors  of  the  Company,   whose
determination shall be conclusive, shall be used).

B = the Exercise Price.

1.3 Record  Ownership.  To the extent permitted by applicable law, the person in
whose name any  certificate  for  shares of Common  Stock or other  evidence  of
ownership of any other security is issued upon exercise of the Warrant shall for
all  purposes  be deemed to have  become the holder of record of such  shares or
other security on the date of delivery of the subscription form, irrespective of
the date of  delivery  of such  certificate  or  other  evidence  of  ownership,
notwithstanding  that the transfer  books of the Company shall then be closed or
that such  certificates  or other evidence of ownership  shall not then actually
have been delivered to such person.

1.4  Regulatory  Problem.  The Holder shall not exercise or exchange the Warrant
for shares of Common Stock if after giving  effect to such  exercise or exchange
the Holder  reasonably  determines  that such exercise  would violate any law or
regulation or any requirement of any governmental authority applicable to Holder
or its affiliates.

         Shares to be Fully  Paid.  The  Company  covenants  and agrees that all
Warrant  Shares,  will,  upon  issuance and payment of the  applicable  Exercise
Price, be duly authorized,  validly issued,  fully paid and  nonassessable,  and
free of all liens and encumbrances, except for restrictions on transfer provided
for herein or under applicable federal and state securities laws.

         Adjustment of Exercise Price and Number of Shares.

3.1  Adjustment for  Reorganization,  Consolidation,  Merger,  etc. The Exercise
Price and the number of Warrant  Shares shall be  proportionately  adjusted from
time to time  upon the  occurrence  of an  increase  in the  number of shares of
Common Stock  outstanding by a stock dividend  payable in shares of Common Stock
or a subdivision or split-up of shares of Common Stock, a decrease in the number
of shares of Common Stock outstanding by a combination of outstanding  shares of
Common  Stock,  any capital  reorganization  or any  reclassification  of Common
Stock,  or the  consolidation,  merger,  combination  or exchange of shares with
another  entity,  or the  divisive  reorganization  of the  Company.  Upon  each
adjustment of the Exercise Price, the Holder of this Warrant shall thereafter be
entitled to purchase, at the Exercise Price resulting from such adjustment,  the
number  of  shares   obtained  by  multiplying  the  Exercise  Price  in  effect
immediately  prior  to such  adjustment  by the  number  of  shares  purchasable
pursuant hereto  immediately prior to such adjustment,  and dividing the product
thereof by the Exercise  Price  resulting  from such  adjustment.  The number of
Shares  purchasable  upon the exercise of each Warrant is subject to  adjustment
from time to time upon the occurrence of any of the events enumerated below:

In case the Company (i) consolidates with or merges into any other entity and is
not the continuing or surviving entity of such  consolidation or merger, or (ii)
permits any other entity to  consolidate  with or merge into the Company and the
Company is the  continuing  or surviving  Company but, in  connection  with such
consolidation  or merger,  the Common  Stock is changed  into or  exchanged  for
common  stock or other  securities  of any  other  entity  or cash or any  other
assets, or (iii) transfers all or substantially all of its properties and assets
to any other entity, or (iv) effects a reorganization or reclassification of the
equity  of the  Company  in such a way that  holders  of Common  Stock  shall be
entitled to receive  stock,  securities,  cash or assets  with  respect to or in
exchange for Common Stock,  then, and in each such case,  proper provision shall

<PAGE>

be made so that,  upon the  exercise  of this  Warrant  at any  time  after  the
consummation  of  such  consolidation,   merger,  transfer,   reorganization  or
reclassification,  the Holder  shall be entitled  to receive  (at the  aggregate
Exercise  Price in effect for Common Stock  issuable  upon such exercise of this
Warrant  immediately  prior  to such  consummation),  in lieu  of  Common  Stock
issuable  upon such  exercise of this Warrant  prior to such  consummation,  the
stock and other securities, cash and assets to which such Holder would have been
entitled  upon such  consummation  if such Holder had so exercised  this Warrant
immediately prior thereto.

3.2  Adjustments  for Certain  Issuances of Securities  The Exercise Price shall
also be subject to adjustment in accordance  with Section 4(g) of the Securities
Purchase Agreement.

         Registration.  The Warrant Shares shall be subject to  registration  at
the expense of the Company pursuant to the Registration Rights Agreement between
the Company and the Holder dated as of the date hereof.

         Voting Rights.  Nothing contained in this Warrant shall be construed as
conferring  upon the Holder the right to vote or to consent to or receive notice
as a shareholder of the Company on any other matters or any rights whatsoever as
a shareholder of the Company.

         Compliance with Securities Act: Transferability of Warrant, Disposition
of Shares of Common Stock.

         Compliance  with  Securities  Act. The Holder,  by  acceptance  hereof,
agrees  that this  Warrant and the  Warrant  Shares to be issued  upon  exercise
hereof are being acquired for  investment  and that it will not offer,  sell, or
otherwise   dispose  of  this  Warrant  or  any  Warrant   Shares  except  under
circumstances  which will not result in a violation of the Securities Act or any
applicable  state  securities  laws. This Warrant and all Warrant Shares (unless
registered  under  the Act)  shall be  stamped  or  imprinted  with a legend  in
substantially the following form:

THESE  SECURITIES HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS
AMENDED OR THE  SECURITIES OR BLUE SKY LAWS OF ANY STATE.  THEY MAY NOT BE SOLD,
OFFERED FOR SALE,  PLEDGED,  OR  HYPOTHECATED  IN THE ABSENCE OF A  REGISTRATION
STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES  UNDER SUCH ACT OR AN OPINION
OF COUNSEL  SATISFACTORY TO THE COMPANY THAT SUCH  REGISTRATION IS NOT REQUIRED,
OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.

         Accredited  Investor;  Access to  Information.  Holder  represents  and
warrants that as of the date hereof Holder is an accredited  investor within the
meaning of Rule 501 of  Regulation D promulgated  under the Act.  Holder has had
the  opportunity to ask questions of, and to receive  answers from,  appropriate
executive  officers of the Company with respect to the terms and  conditions  of
the transactions contemplated hereby and with respect to the business,  affairs,
financial  condition and results of  operations  of the Company.  Holder has had
access to such  financial  and other  information  as is  necessary in order for
Holder to make a fully  informed  decision as to investment in the Company,  and
has had the opportunity to obtain any additional information necessary to verify
any of such information to which Holder has had access.

         Warrant Transferable. Subject to compliance with applicable federal and
state securities laws under which this Warrant was issued,  this Warrant and all
rights hereunder are  transferable,  in whole or in part,  without charge to the
Holder  (except for transfer  taxes),  upon  surrender of this Warrant  properly
endorsed; provided, however, that the Holder shall notify the Company in writing
in advance of any proposed  transfer and shall not transfer  this Warrant or any
rights  hereunder  to any person or entity  which,  in the sole  judgment of the
Company's  board  of  directors,  is  then  engaged  in a  business  that  is in
competition  with the Company,  or is otherwise  engaged in an effort to acquire
control of the Company.  As promptly as practicable  but in any event within ten
(10)  Business Days of receipt of such properly  endorsed  Warrant,  the Company
shall  issue,  register  and  deliver  to the  Holder  thereof a new  Warrant or
Warrants  of like  kind and tenor  representing  in the  aggregate  the right to
purchase the same number of Warrant  Shares that could be purchased  pursuant to
the Warrant  being  transferred.  Holder shall pay  Company's  reasonable  costs
incurred in effectuating such transfer.

         Disposition  of Warrant  Shares.  With respect to any offer,  sale,  or
other  disposition of the Warrant,  or any Warrant Shares if such shares are not
registered and freely tradable under the Act when issued,  the Holder hereof and
each  subsequent  Holder of this Warrant  agrees to give  written  notice to the
Company prior thereto,  describing  briefly the manner thereof,  together with a
written  opinion  of such  holder's  counsel,  if  reasonably  requested  by the
Company,  to the  effect  that  such  offer,  sale or other  disposition  may be
effected without  registration or qualification (under the Act as then in effect
or any federal or state law then in effect) of the Warrant or Warrant Shares, as
the case may be, and indicating  whether or not under the Act  certificates  for
the Warrant or Warrant  Shares to be sold or  otherwise  disposed of require any
restrictive legend as to applicable  restrictions on transferability in order to
insure  compliance with the Act. Promptly upon receiving such written notice and
opinion,  the Company, as promptly as practicable,  shall notify the Holder that

<PAGE>

such Holder may sell or otherwise dispose of the Warrant or Warrant Shares,  all
in  accordance  with the terms of the  notice  delivered  to the  Company.  If a
determination  has been made pursuant to this  subparagraph 6.4 that the opinion
of the counsel for the Holder is not reasonably satisfactory to the Company, the
Company shall so notify the Holder  promptly after such  determination  has been
made.  Notwithstanding  the  foregoing,  the  Warrant or  Warrant  Shares may be
offered,  sold or otherwise  disposed of in  accordance  with Rule 144 under the
Act,  provided that the Company shall have been furnished with such  information
as the Company may request to provide  reasonable  assurance that the provisions
of Rule 144 have been satisfied.  Each  certificate  representing the Warrant or
Warrant Shares thus transferred  (except a transfer  pursuant to Rule 144) shall
bear a legend as to the applicable  restrictions on  transferability in order to
insure  compliance with the Act, unless in the aforesaid  opinion of counsel for
the Holder,  such legend is not required in order to insure  compliance with the
Act. The Company may issue stop transfer  instructions  to its transfer agent in
connection with such restrictions.

       Limitation on Warrant Shares Notwithstanding  anything else herein to the
contrary,  the Holder of this Warrant may not exercise any Warrant to the extent
that after such  conversion,  the number of shares of Common  Stock owned by the
Holder and its affiliates (other than shares of Common Stock which may be deemed
beneficially  owned  through the  ownership  of the  unconverted  portion of the
Debentures  and any  unexercised  Warrants),  would  result in  ownership by the
Holder  and  its  affiliates  of  4.99%  or  more of the  Company's  issued  and
outstanding  shares of Common Stock  following such exercise.  In the event that
the Holder owns both  Debentures  and Warrants which would  otherwise  result in
ownership of 4.99% or more of the  Company's  issued and  outstanding  shares of
Common Stock but for the prior  sentence,  then the Warrants  shall be deemed to
not be exercisable to the extent necessary to allow conversion of the Debentures
to the maximum extent possible and still permit the Holder's ownership to remain
below  4.99%.  This  restriction  shall be binding  upon any  transferee  of the
Warrant from any Holder.  The preceding  shall not  interfere  with the Holder's
right to exercise this Warrant over time which in the aggregate totals more than
4.99% of the then outstanding  shares of Common Stock so long as such Holder and
its affiliates do not own more than 4.99% of the then  outstanding  Common Stock
at any given time.

         Modification  and Waiver.  This Warrant and any provision hereof may be
changed,  waived,  discharged,  or  terminated  only by an instrument in writing
signed by the party against which enforcement of the same is sought.

         Notices.  Any notice,  request, or other document required or permitted
to be given or delivered to the Holder  hereof or the Company shall be delivered
or shall be sent by  certified  mail,  postage  prepaid,  or by  facsimile  with
confirmation  of  transmission  to the  parties at the  address set forth in the
Securities Purchase Agreement,  or such other address as either may from time to
time provide to the other.

         Governing Law; Waiver of Jury Trial.

         Governing  Law.  This  Warrant  shall be governed by and  construed  in
accordance  with the laws of the State of  Colorado  as  applied  to  agreements
executed  and  performed  in such  state.  Each of the  parties  consents to the
exclusive  jurisdiction of the federal courts whose districts encompass any part
of the City of New York or the state  courts of the State of New York sitting in
the City of New York in connection  with any dispute  arising under this Warrant
and hereby  waives,  to the maximum  extent  permitted  by law,  any  objection,
including any  objection  based on forum non  coveniens,  to the bringing of any
such  proceeding in such  jurisdictions.  The Company shall reimburse the Holder
for any  reasonable  legal  fees and  disbursements  incurred  by the  Holder in
enforcement of or protection of any of its rights under this Warrant.

         Waiver of Jury  Trial.  BECAUSE  DISPUTES  ARISING IN  CONNECTION  WITH
COMPLEX FINANCIAL  TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN
EXPERIENCED  AND EXPERT  PERSON AND THE PARTIES  WISH  APPLICABLE  LAWS TO APPLY
(RATHER  THAN  ARBITRATION  RULES),  THE PARTIES  DESIRE THAT THEIR  DISPUTES BE
RESOLVED BY A JUDGE APPLYING SUCH  APPLICABLE  LAWS.  THEREFORE,  TO ACHIEVE THE
BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION,  THE
PARTIES  HERETO  WAIVE  ALL  RIGHT  TO  TRIAL  BY  JURY IN ANY  ACTION,  SUIT OR
PROCEEDING  BROUGHT  TO ENFORCE  OR DEFEND  ANY  RIGHTS OR  REMEDIES  UNDER THIS
AGREEMENT OR ANY DOCUMENTS RELATED HERETO.

         Exchange of Warrant.

         Lost Warrant.  The Company represents and warrants to the Holder hereof
that upon  receipt of  evidence  reasonably  satisfactory  to the Company of the
loss, theft, destruction,  or mutilation of this Warrant and, in the case of any
such  loss,  theft or  destruction,  upon  receipt  of an  indemnity  reasonably
satisfactory  to  the  Company,  or in the  case  of any  such  mutilation  upon

<PAGE>

surrender and  cancellation  of the Warrant,  the Company will, at the Company's
expense,  make and deliver a new  Warrant,  of like tenor,  in lieu of the lost,
stolen, destroyed or mutilated Warrant.

10.2  Exchange.  The Holder  may  exchange  this  Warrant  at its  option,  upon
presentation  and  surrender of this Warrant to Company,  for other  Warrants of
different  denominations,  entitling the Holder to purchase in the aggregate the
same number of Warrant  Shares.  A Warrant may be divided or combined with other
Warrants that carry the same rights, upon presentation  thereof at the principal
office of the Company,  together with written  notice  specifying  the names and
denominations  in which new  Warrants  are to be issued and signed by the holder
thereof.  In order to effect an exchange  permitted  by this Section  10.2,  the
Holder  shall  deliver to the  Company  this  Warrant  accompanied  by a written
request  signed by the Holder  specifying  the number and  denominations  of the
Warrant or the Warrants to be issued in such exchange and the names in which the
Warrant or Warrants  are to be issued.  As promptly  as  practicable  but in any
event within ten (10)  Business  Days of receipt of such a request,  the Company
shall, without charge, issue, register and deliver to the Holder each Warrant to
be issued in such exchange.

         Fractional  Shares.  No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the  Holder  entitled  to such  fraction  a sum in cash  equal to such  fraction
(calculated to the nearest 1/100th of a share)  multiplied by the then effective
Exercise Price on the date the Form of Subscription is received by the Company.

         Successors and Assigns.  This Warrant and the rights  evidenced  hereby
shall inure to the benefit of and be binding upon the  successors and assigns of
the Company and successors and permitted  assigns of the Holder.  The provisions
of this  Warrant are  intended to be for the benefit of all Holders from time to
time of this Warrant, and shall be enforceable by any such Holder.

13.  Preparation  of Warrant.  The Company  prepared this Warrant  solely on its
behalf.  Each party to this  Warrant  acknowledges  that:  (i) the party had the
advice of, or  sufficient  opportunity  to obtain the advice of,  legal  counsel
separate and  independent of legal counsel for any other party hereto;  (ii) the
terms of the  transactions  contemplated by this Warrant are fair and reasonable
to  such  party;  and  (iii)  such  party  has  voluntarily   entered  into  the
transactions contemplated by this Warrant without duress or coercion. Each party
further acknowledges that such party was not represented by the legal counsel of
any other party hereto in connection with the transactions  contemplated by this
Warrant,  nor was he or it under any  belief or  understanding  that such  legal
counsel  was  representing  his or its  interests.  Each  party  agrees  that no
conflict,  omission or ambiguity in this Warrant, or the interpretation thereof,
shall be  presumed,  implied or otherwise  construed  against any other party to
this  Warrant on the basis that such party was  responsible  for  drafting  this
Warrant.

         IN WITNESS  WHEREOF,  the Company  has caused  this  Warrant to be duly
executed by its officer, thereunto duly authorized as of May____, 2003.

COMPANY:

HEALTH SCIENCES GROUP, INC.,
a Colorado corporation

                                  By:  _______________________________
                                  Its:  _______________________________

<PAGE>

FORM OF SUBSCRIPTION

(To be signed only upon exercise of Warrant)

To:      HEALTHSCIENCES GROUP, INC.

The  undersigned,  the  holder of the  attached  Common  Stock  Warrant,  hereby
irrevocably  elects to exercise the purchase  right  represented by such Warrant
for,  and  to  purchase  thereunder,  _____________shares  of  Common  Stock  of
HEALTHSCIENCES  GROUP,  INC.  (the  "Company")  and  herewith  makes  payment of
$_________ therefor.

The  undersigned  represents  that it is acquiring such Common Stock for its own
account for investment and not with a view to or for sale in connection with any
distribution thereof. The undersigned requests that certificates for such shares
be issued in the name of, and delivered to,  _____________________whose  address
is                                                                ______________
---------------------------------------------------------------------.

DATED:   _________________

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

Name:    _________________________________

Title:   _________________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]