Document:

THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE
      OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER
      SAID
      ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO SCIENCE DYNAMICS CORPORATION THAT SUCH REGISTRATION IS NOT
      REQUIRED.

     

    Right
      to
      Purchase up to 3,000,000 Shares of Common Stock of

    Science
      Dynamics Corporation 

    (subject
      to adjustment as provided herein)

     

    AMENDED
      AND RESTATED

    COMMON
      STOCK PURCHASE WARRANT

     

    
      	
              No.
                _________________

            	
              Issue
                Date: November 18, 2005

            

    

    

    SCIENCE
      DYNAMICS CORPORATION, a corporation organized under the laws of the State of
      Delaware (“Science Dynamics Corporation”), hereby certifies that, for value
      received, LAURUS MASTER FUND, LTD., or assigns (the "Holder"), is entitled,
      subject to the terms set forth below, to purchase from the Company (as defined
      herein) from and after the Issue Date of this Warrant and at any time or from
      time to time before 5:00 p.m., New York time, through the close of business
      November 18, 2012 (the "Expiration Date"), up to 3,000,000 fully paid and
      nonassessable shares of Common Stock (as hereinafter defined), $0.01 par value
      per share, at the applicable Exercise Price per share (as defined below). The
      number and character of such shares of Common Stock and the applicable Exercise
      Price per share are subject to adjustment as provided herein.

     

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings: 

     

    (a) The
      term
      "Company" shall include Science Dynamics Corporation and any corporation which
      shall succeed, or assume the obligations of, Science Dynamics Corporation
      hereunder. 

     

    (b) The
      term
      "Common Stock" includes (i) the Company's Common Stock, par value $0.01 per
      share; and (ii) any other securities into which or for which any of the
      securities described in the preceding clause (i) may be converted or exchanged
      pursuant to a plan of recapitalization, reorganization, merger, sale of assets
      or otherwise.

     

    (c) The
      term
      "Other Securities" refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 4 or otherwise. 

     

    
      
        
        

      

      
        A-1

        
          

        

      

       

    

     

    (d) The
      "Exercise Price" applicable under this Warrant shall be $0.075.

     

    
      	1.  	
              Exercise
                of Warrant.
                

            

    

     

    1.1  Number
      of Shares Issuable upon Exercise.
      From
      and after the date hereof through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the "Exercise Notice"), shares of Common Stock
      of
      the Company, subject to adjustment pursuant to Section 4.

     

    1.2  Fair
      Market Value.
      For
      purposes hereof, the "Fair Market Value" of a share of Common Stock as of a
      particular date (the "Determination Date") shall mean: 

     

    (a)  If
      the
      Company's Common Stock is traded on the American Stock Exchange or another
      national exchange or is quoted on the National or SmallCap Market of The Nasdaq
      Stock Market, Inc.("Nasdaq"), then the closing or last sale price, respectively,
      reported for the last business day immediately preceding the Determination
      Date.

     

    (b)  If
      the
      Company's Common Stock is not traded on the American Stock Exchange or another
      national exchange or on the Nasdaq but is traded on the NASD OTC Bulletin Board,
      then the mean of the average of the closing bid and asked prices reported for
      the last business day immediately preceding the Determination Date.

     

    (c)  Except
      as
      provided in clause (d) below, if the Company's Common Stock is not publicly
      traded, then as the Holder and the Company agree or in the absence of agreement
      by arbitration in accordance with the rules then in effect of the American
      Arbitration Association, before a single arbitrator to be chosen from a panel
      of
      persons qualified by education and training to pass on the matter to be
      decided.

     

    (d)  If
      the
      Determination Date is the date of a liquidation, dissolution or winding up,
      or
      any event deemed to be a liquidation, dissolution or winding up pursuant to
      the
      Company's charter, then all amounts to be payable per share to holders of the
      Common Stock pursuant to the charter in the event of such liquidation,
      dissolution or winding up, plus all other amounts to be payable per share in
      respect of the Common Stock in liquidation under the charter, assuming for
      the
      purposes of this clause (d) that all of the shares of Common Stock then issuable
      upon exercise of the Warrant are outstanding at the Determination
      Date.

     

    1.3  Company
      Acknowledgment.
      The
      Company will, at the time of the exercise of the Warrant, upon the request
      of
      the holder hereof acknowledge in writing its continuing obligation to afford
      to
      such holder any rights to which such holder shall continue to be entitled after
      such exercise in accordance with the provisions of this Warrant. If the holder
      shall fail to make any such request, such failure shall not affect the
      continuing obligation of the Company to afford to such holder any such rights.
      

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

     

    1.4  Trustee
      for Warrant Holders.
      In the
      event that a bank or trust company shall have been appointed as trustee for
      the
      holders of the Warrant pursuant to Subsection 3.2, such bank or trust company
      shall have all the powers and duties of a warrant agent (as hereinafter
      described) and shall accept, in its own name for the account of the Company
      or
      such successor person as may be entitled thereto, all amounts otherwise payable
      to the Company or such successor, as the case may be, on exercise of this
      Warrant pursuant to this Section 1.

     

    
      	2.  	
              Procedure
                for Exercise.

            

    

     

    2.1  Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within three (3) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise, plus, in lieu of any fractional share to which such holder would
      otherwise be entitled, cash equal to such fraction multiplied by the then Fair
      Market Value of one full share, together with any other stock or other
      securities and property (including cash, where applicable) to which such Holder
      is entitled upon such exercise pursuant to Section 1 or otherwise.

     

    2.2  Exercise.
      Payment
      may be made either (i) in cash or by certified or official bank check payable
      to
      the order of the Company equal to the applicable aggregate Exercise Price,
      (ii)
      by delivery of the Warrant, or shares of Common Stock and/or Common Stock
      receivable upon exercise of the Warrant in accordance with the formula set
      forth
      below in this Section 2.2, or (iii) by a combination of any of the foregoing
      methods, for the number of Common Shares specified in such Exercise Notice
      (as
      such exercise number shall be adjusted to reflect any adjustment in the total
      number of shares of Common Stock issuable to the Holder per the terms of this
      Warrant) and the Holder shall thereupon be entitled to receive the number of
      duly authorized, validly issued, fully-paid and non-assessable shares of Common
      Stock (or Other Securities) determined as provided herein. Notwithstanding
      any
      provisions herein to the contrary, if the Fair Market Value of one share of
      Common Stock is greater than the Exercise Price (at the date of calculation
      as
      set forth below), in lieu of exercising this Warrant for cash, the Holder may
      elect to receive shares equal to the value (as determined below) of this Warrant
      (or the portion thereof being exercised) by surrender of this Warrant at the
      principal office of the Company together with the properly endorsed Exercise
      Notice in which event the Company shall issue to the Holder a number of shares
      of Common Stock computed using the following formula:

     

    
      	 	
              X=Y

            	
              (A-B)

            	 
	 	 	
              A

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    

    Where
      X
      = the
      number of shares of Common Stock to be issued to the Holder

     

    
      	
            	Y
              =	
              the
                number of shares of Common Stock purchasable under the Warrant or,
                if only
                a portion of the Warrant is being exercised, the portion of the Warrant
                being exercised (at the date of such
                calculation)

            

    

     

    A
      = the
      Fair
      Market Value of one share of the Company's Common Stock (at the date of such
      calculation)

     

    B
      = Exercise
      Price (as adjusted to the date of such calculation)

     

    
      	3.  	
              Effect
                of Reorganization, Etc.; Adjustment of Exercise Price.

            

    

     

    3.1  Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person, or (c) transfer all or
      substantially all of its properties or assets to any other person under any
      plan
      or arrangement contemplating the dissolution of the Company, then, in each
      such
      case, as a condition to the consummation of such a transaction, proper and
      adequate provision shall be made by the Company whereby the Holder of this
      Warrant, on the exercise hereof as provided in Section 1 at any time after
      the
      consummation of such reorganization, consolidation or merger or the effective
      date of such dissolution, as the case may be, shall receive, in lieu of the
      Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the stock and other securities and property
      (including cash) to which such Holder would have been entitled upon such
      consummation or in connection with such dissolution, as the case may be, if
      such
      Holder had so exercised this Warrant, immediately prior thereto, all subject
      to
      further adjustment thereafter as provided in Section 4.

     

    3.2  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall at its expense
      deliver or cause to be delivered to the Holder the stock and other securities
      and property (including cash, where applicable) receivable by the Holder of
      the
      Warrant pursuant to Section 3.1, or, if the Holder shall so instruct the
      Company, to a bank or trust company specified by the Holder and having its
      principal office in New York, NY as trustee for the Holder of the Warrant (the
      “Trustee”).

     

    3.3  Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 3, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant as
      provided in Section 4. In the event this Warrant does not continue in full
      force
      and effect after the consummation of the transactions described in this Section
      3, then the Company's securities and property (including cash, where applicable)
      receivable by the Holders of the Warrant will be delivered to Holder or the
      Trustee as contemplated by Section 3.2.

    
      
        
        

      

      
        
        

        
          

        

      

       

    

     

    
      	4.  	
              Extraordinary
                Events Regarding Common Stock.
                In the event that the Company shall (a) issue additional shares of
                the
                Common Stock as a dividend or other distribution on outstanding Common
                Stock, (b) subdivide its outstanding shares of Common Stock, or (c)
                combine its outstanding shares of the Common Stock into a smaller
                number
                of shares of the Common Stock, then, in each such event, the Exercise
                Price shall, simultaneously with the happening of such event, be
                adjusted
                by multiplying the then Exercise Price by a fraction, the numerator
                of
                which shall be the number of shares of Common Stock outstanding
                immediately prior to such event and the denominator of which shall
                be the
                number of shares of Common Stock outstanding immediately after such
                event,
                and the product so obtained shall thereafter be the Exercise Price
                then in
                effect. The Exercise Price, as so adjusted, shall be readjusted in
                the
                same manner upon the happening of any successive event or events
                described
                herein in this Section 4. The number of shares of Common Stock that
                the
                holder of this Warrant shall thereafter, on the exercise hereof as
                provided in Section 1, be entitled to receive shall be adjusted to
                a
                number determined by multiplying the number of shares of Common Stock
                that
                would otherwise (but for the provisions of this Section 4) be issuable
                on
                such exercise by a fraction of which (a) the numerator is the Exercise
                Price that would otherwise (but for the provisions of this Section
                4) be
                in effect, and (b) the denominator is the Exercise Price in effect
                on the
                date of such exercise.

            

    

     

    
      	5.  	
              Certificate
                as to Adjustments.
                In each case of any adjustment or readjustment in the shares of Common
                Stock (or Other Securities) issuable on the exercise of the Warrant,
                the
                Company at its expense will promptly cause its Chief Financial Officer
                or
                other appropriate designee to compute such adjustment or readjustment
                in
                accordance with the terms of the Warrant and prepare a certificate
                setting
                forth such adjustment or readjustment and showing in detail the facts
                upon
                which such adjustment or readjustment is based, including a statement
                of
                (a) the consideration received or receivable by the Company for any
                additional shares of Common Stock (or Other Securities) issued or
                sold or
                deemed to have been issued or sold, (b) the number of shares of Common
                Stock (or Other Securities) outstanding or deemed to be outstanding,
                and
                (c) the Exercise Price and the number of shares of Common Stock to
                be
                received upon exercise of this Warrant, in effect immediately prior
                to
                such adjustment or readjustment and as adjusted or readjusted as
                provided
                in this Warrant. The Company will forthwith mail a copy of each such
                certificate to the holder of the Warrant and any Warrant agent of
                the
                Company (appointed pursuant to Section 11
                hereof).

            

    

     

    
      	6.  	
              Reservation
                of Stock, Etc., Issuable on Exercise of Warrant.
                The Company will at all times reserve and keep available, solely
                for
                issuance and delivery on the exercise of the Warrant, shares of Common
                Stock (or Other Securities) from time to time issuable on the exercise
                of
                the Warrant.

            

    

     

    
      	7.  	
              Assignment;
                Exchange of Warrant.
                Subject to compliance with applicable securities laws, this Warrant,
                and
                the rights evidenced hereby, may be transferred by any registered
                holder
                hereof (a "Transferor") in whole or in part. On the surrender for
                exchange
                of this Warrant, with the Transferor's endorsement in the form of
                Exhibit
                B attached hereto (the "Transferor Endorsement Form") and together
                with
                evidence reasonably satisfactory to the Company demonstrating compliance
                with applicable securities laws, which shall include, without limitation,
                the provision of a legal opinion from the Transferor's counsel (at
                the
                Company’s expense) that such transfer is exempt from the registration
                requirements of applicable securities laws, and with payment by the
                Transferor of any applicable transfer taxes) will issue and deliver
                to or
                on the order of the Transferor thereof a new Warrant of like tenor,
                in the
                name of the Transferor and/or the transferee(s) specified in such
                Transferor Endorsement Form (each a "Transferee"), calling in the
                aggregate on the face or faces thereof for the number of shares of
                Common
                Stock called for on the face or faces of the Warrant so surrendered
                by the
                Transferor.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

     

    
      	8.  	
              Replacement
                of Warrant.
                On 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 of this Warrant, on delivery of an
                indemnity agreement or security reasonably satisfactory in form and
                amount
                to the Company or, in the case of any such mutilation, on surrender
                and
                cancellation of this Warrant, the Company at its expense will execute
                and
                deliver, in lieu thereof, a new Warrant of like
                tenor.

            

    

     

    
      	9.  	
              Reserved.

            

    

     

    
      	10.  	
              Maximum
                Exercise.
                Notwithstanding anything herein to the contrary, in no event shall
                the
                Holder be entitled to exercise any portion of this Warrant in excess
                of
                that portion of this Warrant upon exercise of which the sum of (1)
                the
                number of shares of Common Stock beneficially owned by the Holder
                and its
                Affiliates (other than shares of Common Stock which may be deemed
                beneficially owned through the ownership of the unexercised portion
                of the
                Warrant or the unexercised or unconverted portion of any other security
                of
                the Holder subject to a limitation on conversion analogous to the
                limitations contained herein) and (2) the number of shares of Common
                Stock
                issuable upon the exercise of the portion of this Warrant with respect
                to
                which the determination of this proviso is being made, would result
                in
                beneficial ownership by the Holder and its Affiliates of any amount
                greater than 9.99% of the then outstanding shares of Common Stock
                (whether
                or not, at the time of such exercise, the Holder and its Affiliates
                beneficially own more than 9.99% of the then outstanding shares of
                Common
                Stock). As used herein, the term “Affiliate” means any person or entity
                that, directly or indirectly through one or more intermediaries,
                controls
                or is controlled by or is under common control with a person or entity,
                as
                such terms are used in and construed under Rule 144 under the Securities
                Act.   For purposes of the proviso to the second preceding sentence,
                beneficial ownership shall be determined in accordance with Section
                13(d)
                of the Securities Exchange Act of 1934, as amended, and Regulations
                13D-G
                thereunder, except as otherwise provided in clause (1) of such proviso.
                 The limitations set forth herein (x) may be waived by the Holder
                upon provision of no less than seventy-five (75) days prior notice
                to the
                Company and (y) shall automatically become null and void following
                notice
                to the Company upon the occurrence and during the continuance of
                an Event
                of Default (as defined in the Note referred to in the Purchase Agreement
                dated as of the date hereof among the Holder and the Company (as
                amended,
                modified, restated and/or supplemented from time to time, the “Purchase
                Agreement”)). 

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

     

    
      	11.  	
              Warrant
                Agent.
                The Company may, by written notice to the each Holder of the Warrant,
                appoint an agent for the purpose of issuing Common Stock (or Other
                Securities) on the exercise of this Warrant pursuant to Section 1,
                exchanging this Warrant pursuant to Section 7, and replacing this
                Warrant
                pursuant to Section 8, or any of the foregoing, and thereafter any
                such
                issuance, exchange or replacement, as the case may be, shall be made
                at
                such office by such agent.

            

    

     

    
      	12.  	
              Transfer
                on the Company's Books.
                Until this Warrant is transferred on the books of the Company, the
                Company
                may treat the registered holder hereof as the absolute owner hereof
                for
                all purposes, notwithstanding any notice to the
                contrary.

            

    

     

    
      	13.  	
              Notices,
                Etc.
                All notices and other communications from the Company to the Holder
                of
                this Warrant shall be mailed by first class registered or certified
                mail,
                postage prepaid, at such address as may have been furnished to the
                Company
                in writing by such Holder or, until any such Holder furnishes to
                the
                Company an address, then to, and at the address of, the last Holder
                of
                this Warrant who has so furnished an address to the
                Company.

            

    

     

    
      	14.  	
              Miscellaneous.
                This Warrant and any term hereof may be changed, waived, discharged
                or
                terminated only by an instrument in writing signed by the party against
                which enforcement of such change, waiver, discharge or termination
                is
                sought. This Warrant shall be governed by and construed in accordance
                with
                the laws of State of New York without regard to principles of conflicts
                of
                laws. Any action brought concerning the transactions contemplated
                by this
                Warrant shall be brought only in the state courts of New York or
                in the
                federal courts located in the state of New York; provided, however,
                that
                the Holder may choose to waive this provision and bring an action
                outside
                the state of New York. The individuals executing this Warrant on
                behalf of
                the Company agree to submit to the jurisdiction of such courts and
                waive
                trial by jury. The prevailing party shall be entitled to recover
                from the
                other party its reasonable attorney's fees and costs. In the event
                that
                any provision of this Warrant is invalid or unenforceable under any
                applicable statute or rule of law, then such provision shall be deemed
                inoperative to the extent that it may conflict therewith and shall
                be
                deemed modified to conform with such statute or rule of law. Any
                such
                provision which may prove invalid or unenforceable under any law
                shall not
                affect the validity or enforceability of any other provision of this
                Warrant. The headings in this Warrant are for purposes of reference
                only,
                and shall not limit or otherwise affect any of the terms hereof.
                The
                invalidity or unenforceability of any provision hereof shall in no
                way
                affect the validity or enforceability of any other provision hereof.
                The
                Company acknowledges that legal counsel participated in the preparation
                of
                this Warrant and, therefore, stipulates that the rule of construction
                that
                ambiguities are to be resolved against the drafting party shall not
                be
                applied in the interpretation of this Warrant to favor any party
                against
                the other party.

            

    

     

    [BALANCE
      OF PAGE INTENTIONALLY LEFT BLANK;

    SIGNATURE
      PAGE FOLLOWS.]

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above. 

     

    
      	 	 	
              
                
                  SCIENCE
                    DYNAMICS
                    CORPORATION

                

              

            
	 	 	 
	
              WITNESS:

            	 	 
	 	 	
              By:

            	/s/
              Paul Burges  
	 	 	
              Name: 
                

            	Paul
              Burges 
	Joseph
              Noto 	 	
              Title:

            	Chief
              Executive
              Officer 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    EXHIBIT
      A

     

    FORM
      OF SUBSCRIPTION

    (To
      Be
      Signed Only On Exercise Of Warrant)

    

    TO: Science
      Dynamics Corporation 

    

    Attention: Chief
      Financial Officer

    

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No.____), hereby irrevocably elects to purchase (check applicable
      box):

     

    
      	 	 	
              ________
                shares of the Common Stock covered by such Warrant; or

            
	 	 	 
	 	 	
              the
                maximum number of shares of Common Stock covered by such Warrant
                pursuant
                to the cashless exercise procedure set forth in Section
                2.

            
	 

    

    

    The
      undersigned herewith makes payment of the full Exercise Price for such shares
      at
      the price per share provided for in such Warrant, which is $___________. Such
      payment takes the form of (check applicable box or boxes):

     

    
      	 	 	
              $__________
                in lawful money of the United States; and/or

            
	 	 	 
	 	 	
              the
                cancellation of such portion of the attached Warrant as is exercisable
                for
                a total of _______ shares of Common Stock (using a Fair Market Value
                of
                $_______ per share for purposes of this calculation);
                and/or

            
	 
	 	 	 
	 	 	
              the
                cancellation of such number of shares of Common Stock as is necessary,
                in
                accordance with the formula set forth in Section 2.2, to exercise
                this
                Warrant with respect to the maximum number of shares of Common Stock
                purchasable pursuant to the cashless exercise procedure set forth
                in
                Section 2.

            
	 
	 

    

    

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to
      ______________________________________________________________________________________
      whose address is
      ___________________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within Warrant shall be made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the "Securities Act") or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	
              Dated:

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

            
	 	 	 
	 	 	
              Address:

            	 
	 	 	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    EXHIBIT
      B

     

    FORM
      OF TRANSFEROR ENDORSEMENT

     

    (To
      Be
      Signed Only On Transfer Of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading "Transferees" the right represented
      by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of Science Dynamics Corporation into which the within Warrant relates
      specified under the headings "Percentage Transferred" and "Number Transferred,"
      respectively, opposite the name(s) of such person(s) and appoints each such
      person Attorney to transfer its respective right on the books of Science
      Dynamics Corporation with full power of substitution in the
      premises.

     

    
      	
               

              Transferees

            	 	
               

              Address

            	 	
              Percentage

              Transferred

            	 	
              Number
                Transferred

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

    

     

    
      	
              Dated:

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

            
	 	 	 
	 	 	
              Address:

            	 
	 	 	 	 

    

     

    
      	
               

            	
              SIGNED
                IN THE PRESENCE OF:

            
	 	 
	 	 
	 	
              (Name)

            
	
              ACCEPTED
                AND AGREED:

            	 
	
              [TRANSFEREE]

            	 
	 	 
	 	 
	 	 
	
              (Name)

            	 

    

     

    
      
        
        

      

      
        B-1THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE
      OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER
      SAID
      ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO SCIENCE DYNAMICS CORPORATION THAT SUCH REGISTRATION IS NOT
      REQUIRED.

     

    Right
      to
      Purchase up to 6,000,000 Shares of Common Stock of

    Science
      Dynamics Corporation 

    (subject
      to adjustment as provided herein)

     

    AMENDED
      AND RESTATED

    COMMON
      STOCK PURCHASE WARRANT

     

    
      	
              No.
                _________________

            	
              Issue
                Date: February 11, 2005

            

    

    

    SCIENCE
      DYNAMICS CORPORATION, a corporation organized under the laws of the State of
      Delaware (“Science Dynamics Corporation”), hereby certifies that, for value
      received, LAURUS MASTER FUND, LTD., or assigns (the "Holder"), is entitled,
      subject to the terms set forth below, to purchase from the Company (as defined
      herein) from and after the Issue Date of this Warrant and at any time or from
      time to time before 5:00 p.m., New York time, through the close of business
      February 11, 2012 (the "Expiration Date"), up to 6,000,000 fully paid and
      nonassessable shares of Common Stock (as hereinafter defined), $0.01 par value
      per share, at the applicable Exercise Price per share (as defined below). The
      number and character of such shares of Common Stock and the applicable Exercise
      Price per share are subject to adjustment as provided herein.

     

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings: 

     

    (a) The
      term
      "Company" shall include Science Dynamics Corporation and any corporation which
      shall succeed, or assume the obligations of, Science Dynamics Corporation
      hereunder. 

     

    (b) The
      term
      "Common Stock" includes (i) the Company's Common Stock, par value $0.01 per
      share; and (ii) any other securities into which or for which any of the
      securities described in the preceding clause (i) may be converted or exchanged
      pursuant to a plan of recapitalization, reorganization, merger, sale of assets
      or otherwise.

     

    (c) The
      term
      "Other Securities" refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 4 or otherwise. 

     

    
      
        
        

      

      
        
        

        
          

        

      

       

    

     

    (d) The
      "Exercise Price" applicable under this Warrant shall be $0.11;

     

    
      	1.  	
              Exercise
                of Warrant.
                

            

    

     

    1.1  Number
      of Shares Issuable upon Exercise.
      From
      and after the date hereof through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the "Exercise Notice"), shares of Common Stock
      of
      the Company, subject to adjustment pursuant to Section 4.

     

    1.2  Fair
      Market Value.
      For
      purposes hereof, the "Fair Market Value" of a share of Common Stock as of a
      particular date (the "Determination Date") shall mean: 

     

    (a)  If
      the
      Company's Common Stock is traded on the American Stock Exchange or another
      national exchange or is quoted on the National or SmallCap Market of The Nasdaq
      Stock Market, Inc.("Nasdaq"), then the closing or last sale price, respectively,
      reported for the last business day immediately preceding the Determination
      Date.

     

    (b)  If
      the
      Company's Common Stock is not traded on the American Stock Exchange or another
      national exchange or on the Nasdaq but is traded on the NASD OTC Bulletin Board,
      then the mean of the average of the closing bid and asked prices reported for
      the last business day immediately preceding the Determination Date.

     

    (c)  Except
      as
      provided in clause (d) below, if the Company's Common Stock is not publicly
      traded, then as the Holder and the Company agree or in the absence of agreement
      by arbitration in accordance with the rules then in effect of the American
      Arbitration Association, before a single arbitrator to be chosen from a panel
      of
      persons qualified by education and training to pass on the matter to be
      decided.

     

    (d)  If
      the
      Determination Date is the date of a liquidation, dissolution or winding up,
      or
      any event deemed to be a liquidation, dissolution or winding up pursuant to
      the
      Company's charter, then all amounts to be payable per share to holders of the
      Common Stock pursuant to the charter in the event of such liquidation,
      dissolution or winding up, plus all other amounts to be payable per share in
      respect of the Common Stock in liquidation under the charter, assuming for
      the
      purposes of this clause (d) that all of the shares of Common Stock then issuable
      upon exercise of the Warrant are outstanding at the Determination
      Date.

     

    1.3  Company
      Acknowledgment.
      The
      Company will, at the time of the exercise of the Warrant, upon the request
      of
      the holder hereof acknowledge in writing its continuing obligation to afford
      to
      such holder any rights to which such holder shall continue to be entitled after
      such exercise in accordance with the provisions of this Warrant. If the holder
      shall fail to make any such request, such failure shall not affect the
      continuing obligation of the Company to afford to such holder any such rights.
      

    
      
        
        

      

      
        2

        
          

        

      

       

    

     

    1.4  Trustee
      for Warrant Holders.
      In the
      event that a bank or trust company shall have been appointed as trustee for
      the
      holders of the Warrant pursuant to Subsection 3.2, such bank or trust company
      shall have all the powers and duties of a warrant agent (as hereinafter
      described) and shall accept, in its own name for the account of the Company
      or
      such successor person as may be entitled thereto, all amounts otherwise payable
      to the Company or such successor, as the case may be, on exercise of this
      Warrant pursuant to this Section 1.

     

    
      	2.  	
              Procedure
                for Exercise.

            

    

     

    2.1  Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within three (3) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise, plus, in lieu of any fractional share to which such holder would
      otherwise be entitled, cash equal to such fraction multiplied by the then Fair
      Market Value of one full share, together with any other stock or other
      securities and property (including cash, where applicable) to which such Holder
      is entitled upon such exercise pursuant to Section 1 or otherwise.

     

    2.2  Exercise.
      Payment
      may be made either (i) in cash or by certified or official bank check payable
      to
      the order of the Company equal to the applicable aggregate Exercise Price,
      (ii)
      by delivery of the Warrant, or shares of Common Stock and/or Common Stock
      receivable upon exercise of the Warrant in accordance with the formula set
      forth
      below in this Section 2.2, or (iii) by a combination of any of the foregoing
      methods, for the number of Common Shares specified in such Exercise Notice
      (as
      such exercise number shall be adjusted to reflect any adjustment in the total
      number of shares of Common Stock issuable to the Holder per the terms of this
      Warrant) and the Holder shall thereupon be entitled to receive the number of
      duly authorized, validly issued, fully-paid and non-assessable shares of Common
      Stock (or Other Securities) determined as provided herein. Notwithstanding
      any
      provisions herein to the contrary, if the Fair Market Value of one share of
      Common Stock is greater than the Exercise Price (at the date of calculation
      as
      set forth below), in lieu of exercising this Warrant for cash, the Holder may
      elect to receive shares equal to the value (as determined below) of this Warrant
      (or the portion thereof being exercised) by surrender of this Warrant at the
      principal office of the Company together with the properly endorsed Exercise
      Notice in which event the Company shall issue to the Holder a number of shares
      of Common Stock computed using the following formula:

     

    
      	
              X=Y

            	
              (A-B)

            	 
	 	
              A

            	 

    

     

    
      
        
        

      

      
        3

        
          

        

      

       

    

    

    Where
      X
      = the
      number of shares of Common Stock to be issued to the Holder

     

    Y
      = the
      number of shares of Common Stock purchasable under the Warrant or, if only
      a
      portion of the Warrant is being exercised, the portion of the Warrant being
      exercised (at the date of such calculation)

     

    A
      = the
      Fair
      Market Value of one share of the Company's Common Stock (at the date of such
      calculation)

     

    B
      = Exercise
      Price (as adjusted to the date of such calculation)

     

    
      	3.  	
              Effect
                of Reorganization, Etc.; Adjustment of Exercise Price.

            

    

     

    3.1  Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person, or (c) transfer all or
      substantially all of its properties or assets to any other person under any
      plan
      or arrangement contemplating the dissolution of the Company, then, in each such
      case, as a condition to the consummation of such a transaction, proper and
      adequate provision shall be made by the Company whereby the Holder of this
      Warrant, on the exercise hereof as provided in Section 1 at any time after
      the
      consummation of such reorganization, consolidation or merger or the effective
      date of such dissolution, as the case may be, shall receive, in lieu of the
      Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the stock and other securities and property
      (including cash) to which such Holder would have been entitled upon such
      consummation or in connection with such dissolution, as the case may be, if
      such
      Holder had so exercised this Warrant, immediately prior thereto, all subject
      to
      further adjustment thereafter as provided in Section 4.

     

    3.2  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall at its expense
      deliver or cause to be delivered to the Holder the stock and other securities
      and property (including cash, where applicable) receivable by the Holder of
      the
      Warrant pursuant to Section 3.1, or, if the Holder shall so instruct the
      Company, to a bank or trust company specified by the Holder and having its
      principal office in New York, NY as trustee for the Holder of the Warrant (the
      “Trustee”).

     

    3.3  Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 3, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant as
      provided in Section 4. In the event this Warrant does not continue in full
      force
      and effect after the consummation of the transactions described in this Section
      3, then the Company's securities and property (including cash, where applicable)
      receivable by the Holders of the Warrant will be delivered to Holder or the
      Trustee as contemplated by Section 3.2.

    
      
        
        

      

      
        4

        
          

        

      

       

    

     

    
      	4.  	
              Extraordinary
                Events Regarding Common Stock.
                In the event that the Company shall (a) issue additional shares of
                the
                Common Stock as a dividend or other distribution on outstanding Common
                Stock, (b) subdivide its outstanding shares of Common Stock, or (c)
                combine its outstanding shares of the Common Stock into a smaller
                number
                of shares of the Common Stock, then, in each such event, the Exercise
                Price shall, simultaneously with the happening of such event, be
                adjusted
                by multiplying the then Exercise Price by a fraction, the numerator
                of
                which shall be the number of shares of Common Stock outstanding
                immediately prior to such event and the denominator of which shall
                be the
                number of shares of Common Stock outstanding immediately after such
                event,
                and the product so obtained shall thereafter be the Exercise Price
                then in
                effect. The Exercise Price, as so adjusted, shall be readjusted in
                the
                same manner upon the happening of any successive event or events
                described
                herein in this Section 4. The number of shares of Common Stock that
                the
                holder of this Warrant shall thereafter, on the exercise hereof as
                provided in Section 1, be entitled to receive shall be adjusted to
                a
                number determined by multiplying the number of shares of Common Stock
                that
                would otherwise (but for the provisions of this Section 4) be issuable
                on
                such exercise by a fraction of which (a) the numerator is the Exercise
                Price that would otherwise (but for the provisions of this Section
                4) be
                in effect, and (b) the denominator is the Exercise Price in effect
                on the
                date of such exercise.

            

    

     

    
      	5.  	
              Certificate
                as to Adjustments.
                In each case of any adjustment or readjustment in the shares of Common
                Stock (or Other Securities) issuable on the exercise of the Warrant,
                the
                Company at its expense will promptly cause its Chief Financial Officer
                or
                other appropriate designee to compute such adjustment or readjustment
                in
                accordance with the terms of the Warrant and prepare a certificate
                setting
                forth such adjustment or readjustment and showing in detail the facts
                upon
                which such adjustment or readjustment is based, including a statement
                of
                (a) the consideration received or receivable by the Company for any
                additional shares of Common Stock (or Other Securities) issued or
                sold or
                deemed to have been issued or sold, (b) the number of shares of Common
                Stock (or Other Securities) outstanding or deemed to be outstanding,
                and
                (c) the Exercise Price and the number of shares of Common Stock to
                be
                received upon exercise of this Warrant, in effect immediately prior
                to
                such adjustment or readjustment and as adjusted or readjusted as
                provided
                in this Warrant. The Company will forthwith mail a copy of each such
                certificate to the holder of the Warrant and any Warrant agent of
                the
                Company (appointed pursuant to Section 11
                hereof).

            

    

     

    
      	6.  	
              Reservation
                of Stock, Etc., Issuable on Exercise of Warrant.
                The Company will at all times reserve and keep available, solely
                for
                issuance and delivery on the exercise of the Warrant, shares of Common
                Stock (or Other Securities) from time to time issuable on the exercise
                of
                the Warrant.

            

    

     

    
      	7.  	
              Assignment;
                Exchange of Warrant.
                Subject to compliance with applicable securities laws, this Warrant,
                and
                the rights evidenced hereby, may be transferred by any registered
                holder
                hereof (a "Transferor") in whole or in part. On the surrender for
                exchange
                of this Warrant, with the Transferor's endorsement in the form of
                Exhibit
                B attached hereto (the "Transferor Endorsement Form") and together
                with
                evidence reasonably satisfactory to the Company demonstrating compliance
                with applicable securities laws, which shall include, without limitation,
                the provision of a legal opinion from the Transferor's counsel (at
                the
                Company’s expense) that such transfer is exempt from the registration
                requirements of applicable securities laws, and with payment by the
                Transferor of any applicable transfer taxes) will issue and deliver
                to or
                on the order of the Transferor thereof a new Warrant of like tenor,
                in the
                name of the Transferor and/or the transferee(s) specified in such
                Transferor Endorsement Form (each a "Transferee"), calling in the
                aggregate on the face or faces thereof for the number of shares of
                Common
                Stock called for on the face or faces of the Warrant so surrendered
                by the
                Transferor.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

       

    

     

    
      	8.  	
              Replacement
                of Warrant.
                On 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 of this Warrant, on delivery of an
                indemnity agreement or security reasonably satisfactory in form and
                amount
                to the Company or, in the case of any such mutilation, on surrender
                and
                cancellation of this Warrant, the Company at its expense will execute
                and
                deliver, in lieu thereof, a new Warrant of like
                tenor.

            

    

     

    
      	9.  	
              Reserved.

            

    

     

    
      	10.  	
              Maximum
                Exercise.
                Notwithstanding anything herein to the contrary, in no event shall
                the
                Holder be entitled to exercise any portion of this Warrant in excess
                of
                that portion of this Warrant upon exercise of which the sum of (1)
                the
                number of shares of Common Stock beneficially owned by the Holder
                and its
                Affiliates (other than shares of Common Stock which may be deemed
                beneficially owned through the ownership of the unexercised portion
                of the
                Warrant or the unexercised or unconverted portion of any other security
                of
                the Holder subject to a limitation on conversion analogous to the
                limitations contained herein) and (2) the number of shares of Common
                Stock
                issuable upon the exercise of the portion of this Warrant with respect
                to
                which the determination of this proviso is being made, would result
                in
                beneficial ownership by the Holder and its Affiliates of any amount
                greater than 9.99% of the then outstanding shares of Common Stock
                (whether
                or not, at the time of such exercise, the Holder and its Affiliates
                beneficially own more than 9.99% of the then outstanding shares of
                Common
                Stock). As used herein, the term “Affiliate” means any person or entity
                that, directly or indirectly through one or more intermediaries,
                controls
                or is controlled by or is under common control with a person or entity,
                as
                such terms are used in and construed under Rule 144 under the Securities
                Act.   For purposes of the proviso to the second preceding sentence,
                beneficial ownership shall be determined in accordance with Section
                13(d)
                of the Securities Exchange Act of 1934, as amended, and Regulations
                13D-G
                thereunder, except as otherwise provided in clause (1) of such proviso.
                 The limitations set forth herein (x) may be waived by the Holder
                upon provision of no less than seventy-five (75) days prior notice
                to the
                Company and (y) shall automatically become null and void following
                notice
                to the Company upon the occurrence and during the continuance of
                an Event
                of Default (as defined in the Note referred to in the Purchase Agreement
                dated as of the date hereof among the Holder and the Company (as
                amended,
                modified, restated and/or supplemented from time to time, the “Purchase
                Agreement”)).

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

       

    

     

    
      	11.  	
              Warrant
                Agent.
                The Company may, by written notice to the each Holder of the Warrant,
                appoint an agent for the purpose of issuing Common Stock (or Other
                Securities) on the exercise of this Warrant pursuant to Section 1,
                exchanging this Warrant pursuant to Section 7, and replacing this
                Warrant
                pursuant to Section 8, or any of the foregoing, and thereafter any
                such
                issuance, exchange or replacement, as the case may be, shall be made
                at
                such office by such agent.

            

    

     

    
      	12.  	
              Transfer
                on the Company's Books.
                Until this Warrant is transferred on the books of the Company, the
                Company
                may treat the registered holder hereof as the absolute owner hereof
                for
                all purposes, notwithstanding any notice to the
                contrary.

            

    

     

    
      	13.  	
              Notices,
                Etc.
                All notices and other communications from the Company to the Holder
                of
                this Warrant shall be mailed by first class registered or certified
                mail,
                postage prepaid, at such address as may have been furnished to the
                Company
                in writing by such Holder or, until any such Holder furnishes to
                the
                Company an address, then to, and at the address of, the last Holder
                of
                this Warrant who has so furnished an address to the
                Company.

            

    

     

    
      	14.  	
              Miscellaneous.
                This Warrant and any term hereof may be changed, waived, discharged
                or
                terminated only by an instrument in writing signed by the party against
                which enforcement of such change, waiver, discharge or termination
                is
                sought. This Warrant shall be governed by and construed in accordance
                with
                the laws of State of New York without regard to principles of conflicts
                of
                laws. Any action brought concerning the transactions contemplated
                by this
                Warrant shall be brought only in the state courts of New York or
                in the
                federal courts located in the state of New York; provided, however,
                that
                the Holder may choose to waive this provision and bring an action
                outside
                the state of New York. The individuals executing this Warrant on
                behalf of
                the Company agree to submit to the jurisdiction of such courts and
                waive
                trial by jury. The prevailing party shall be entitled to recover
                from the
                other party its reasonable attorney's fees and costs. In the event
                that
                any provision of this Warrant is invalid or unenforceable under any
                applicable statute or rule of law, then such provision shall be deemed
                inoperative to the extent that it may conflict therewith and shall
                be
                deemed modified to conform with such statute or rule of law. Any
                such
                provision which may prove invalid or unenforceable under any law
                shall not
                affect the validity or enforceability of any other provision of this
                Warrant. The headings in this Warrant are for purposes of reference
                only,
                and shall not limit or otherwise affect any of the terms hereof.
                The
                invalidity or unenforceability of any provision hereof shall in no
                way
                affect the validity or enforceability of any other provision hereof.
                The
                Company acknowledges that legal counsel participated in the preparation
                of
                this Warrant and, therefore, stipulates that the rule of construction
                that
                ambiguities are to be resolved against the drafting party shall not
                be
                applied in the interpretation of this Warrant to favor any party
                against
                the other party.

            

    

     

    [BALANCE
      OF PAGE INTENTIONALLY LEFT BLANK;

    SIGNATURE
      PAGE FOLLOWS.]

    
      
        
        

      

      
        7

        
          

        

      

       

    

    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above. 

     

    
      	 	 	
              
                SCIENCE
DYNAMICS
CORPORATION

              

            
	 	 	 
	
              WITNESS:

            	 	 
	 	 	
              By:

            	/s/
              Paul Burges 
	 	 	
              Name:

            	Paul
              Burges 
	Joseph
              Noto 	 	
              Title:

            	CEO 

    

     

    
      
        
        

      

      
        8

        
          

        

      

       

    

    

    EXHIBIT
      A

     

    FORM
      OF SUBSCRIPTION

    (To
      Be
      Signed Only On Exercise Of Warrant)

     

    TO: Science
      Dynamics Corporation 

    

    Attention: Chief
      Financial Officer

    

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No.____), hereby irrevocably elects to purchase (check applicable
      box):

     

    
      	 	 	
              ________
                shares of the Common Stock covered by such Warrant; or

            
	 	 	 
	 	 	
              the
                maximum number of shares of Common Stock covered by such Warrant
                pursuant
                to the cashless exercise procedure set forth in Section
                2.

            
	 

    

    

    The
      undersigned herewith makes payment of the full Exercise Price for such shares
      at
      the price per share provided for in such Warrant, which is $___________. Such
      payment takes the form of (check applicable box or boxes):

     

    
      	 	 	
              $__________
                in lawful money of the United States; and/or

            
	 	 	 
	 	 	
              the
                cancellation of such portion of the attached Warrant as is exercisable
                for
                a total of _______ shares of Common Stock (using a Fair Market Value
                of
                $_______ per share for purposes of this calculation);
                and/or

            
	 
	 	 	 
	 	 	
              the
                cancellation of such number of shares of Common Stock as is necessary,
                in
                accordance with the formula set forth in Section 2.2, to exercise
                this
                Warrant with respect to the maximum number of shares of Common Stock
                purchasable pursuant to the cashless exercise procedure set forth
                in
                Section 2.

            
	 
	 

    

    

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to
      ____________________________________________________________________________________
      whose address is
      _____________________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within Warrant shall be made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the "Securities Act") or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	
              Dated:

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

            
	 	 	 
	 	 	
              Address:

            	 
	 	 	 	 

    

     

    
      
        
        

      

      
        A-1

        
          

        

      

       

    

    EXHIBIT
      B

     

    FORM
      OF TRANSFEROR ENDORSEMENT

    (To
      Be
      Signed Only On Transfer Of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading "Transferees" the right represented
      by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of Science Dynamics Corporation into which the within Warrant relates
      specified under the headings "Percentage Transferred" and "Number Transferred,"
      respectively, opposite the name(s) of such person(s) and appoints each such
      person Attorney to transfer its respective right on the books of Science
      Dynamics Corporation with full power of substitution in the
      premises.

     

    
      	
              Transferees

            	 	
              Address

            	 	
              Percentage
                

              Transferred

            	 	
              Number
                Transferred

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

    

     

    
      	
              Dated:

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

            
	 	 	 
	 	 	
              Address:

            	 
	 	 	 	 

    

     

    
      	
               

            	
              SIGNED
                IN THE PRESENCE OF:

            
	 	 
	 	 
	 	
              (Name)

            
	
              ACCEPTED
                AND AGREED:

            	 
	
              [TRANSFEREE]

            	 
	 	 
	 	 
	 	 
	
              (Name)

            	 

    

     

    
      
        
        

      

      
        B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]