Document:

Exhibit
      10.02

    Execution
      Copy

    

    PURCHASE
      AGREEMENT

    

    AGREEMENT
      made as
      of the 14th day of April, 2008 by and between PREMIER
      PET IMAGING OF TAMARAC, LLC, a
      Florida
      limited liability company with offices at 4710 N.W. Boca Raton Blvd., Suite
      200,
      Boca Raton, Florida 33431 (“Seller”),
      ASCENT
      DIAGNOSTIC IMAGING OF TAMARAC, LLC,
      a
      Florida limited liability company with offices at 2100 S.E. Ocean Blvd., Suite
      102, Stuart, Florida 34996 (the “Buyer”),
      and
THE
      SAGEMARK COMPANIES LTD., a
      New
      York corporation duly qualified to transact business in the State of Florida
      and
      parent of Seller with offices at 4710 N.W. Boca Raton Blvd., Suite 200, Boca
      Raton, Florida 33431 (“Sagemark”).
      For
      the limited purposes provided herein, Sagemark shall be a party to this
      Agreement.

    

    WITNESSETH:

    

    WHEREAS,
      Seller
      is the owner and former operator of a diagnostic imaging center located at
      7186
      North University Drive, Tamarac, Florida 33321 (the “Center”); 

    

    WHEREAS,
      Seller
      discontinued its operations at the Center at the close of business on March
      31,
      2008 (the “Discontinuance”)
      but now
      desires to sell certain of the assets located at the Center and described in
      more detail on the exhibit to the Bill of Sale attached hereto as Exhibit B
      (the
“Assets”);

    

    WHEREAS,
      some of
      the Assets include certain imaging and other equipment as well as other assets
      on which General Electric Capital Corporation (“GE”)
      has a
      pre-existing security interest and Sagemark, the parent entity, has financial
      and other obligations to GE relative to such imaging and other equipment and
      such other assets; and

     

    WHEREAS,
      Buyer
      wishes to purchase from Seller, and Seller is willing to sell to Buyer, its
      aforementioned Assets, all on and subject to the terms and conditions of this
      Agreement.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants, promises, and agreements contained herein
      and for other good and valuable consideration, the receipt and sufficiency
      of
      which is hereby acknowledged, the parties hereto agree as follows:

    

    
      
        1.
          Sale
          of the Assets.

      

    

    

    1.1. Sale
      and Purchase of the Assets.
      Upon and
      subject to the terms and conditions hereinafter set forth in this Agreement,
      Seller hereby agrees to sell, assign and transfer to the Buyer on the Closing
      Date (hereinafter defined), and the Buyer hereby agree to purchase from Seller
      on the Closing Date, the Assets, for and in consideration of the purchase price
      set forth in Section 1.2 hereof. Except as qualified herein relative to the
      liens and security interests of GE described herein, Seller agrees to convey
      good and marketable title to the Assets as of the date referenced above.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.2. Purchase
      Price for the Assets.
      As and
      for the purchase price for the Assets (the “Purchase
      Price”),
      the
      Buyer hereby agrees to pay to Seller the sum of Five Hundred Dollars ($500.00)
      upon the execution of this Agreement and the Assignment and Assumption Agreement
      defined below, by wire transfer to an account designated by Seller, in writing,
      prior to the Closing.

     

    
      2. Assumption
        of Indebtedness and Obligations. 

    

    

    2.1. Cancellation
      of Indebtedness.
      Seller
      will deliver to the Buyer on and subject to the Closing Date, an instrument
      in
      form and substance reasonably satisfactory to the Buyer (the “Debt
      Release Instrument”),
      signed
      by Seller and Sagemark canceling all indebtedness of the Seller and/or Sagemark
      secured by the Assets.

    

    2.2. Equipment
      Debt Assumption by Buyer.
      On the
      Closing Date, the Buyer will obtain and deliver to Seller and Seller and
      Sagemark shall execute and deliver the assignment and assumption agreement
      in
      the form attached as Exhibit “A” and made a part hereof (the “Assignment
      and Assumption Agreement”),
      pursuant to which all of the outstanding indebtedness of Seller and all
      affiliates (including Sagemark) thereof to GE (collectively, the “Equipment
      Debt”)
      will be
      terminated and the Buyer will be assuming new obligations to GE under the
      Equipment Debt on and after the Closing Date.

    

    2.3.
       Assignment
      of Sagemark Lease Agreement.
      The
      landlord of the premises of the Center leased to Sagemark (“Landlord”)
      and
      Sagemark shall execute and deliver to Buyer either an assignment and assumption
      agreement or new agreement of lease for such premises (the “New
      Lease Document”),
      pursuant to which either Sagemark shall assign to the Buyer all rights, duties,
      and obligations of Sagemark under the lease of such premises with the consent
      of
      Landlord and Buyer shall assume certain of the rights, duties, and obligations
      of Sagemark under said Lease or, alternatively, Landlord will release Sagemark
      for obligations under said Lease and enter into a new agreement of lease with
      Buyer for such premises.

    

    
      3. The
        Closing. 

    

    

    3.1. Closing.
      The
      closing of the transactions contemplated by this Agreement (the “Closing”)
      shall
      take place on April 15, 2008 (the “Closing
      Date”),
      or on
      such later date and at such other location on which Seller and Buyer may
      mutually agree in writing

    

    3.2. Closing
      Conditions.
      Seller’s
      and Buyer’s obligations to consummate the transactions contemplated by this
      Agreement on the Closing Date are subject to and conditioned upon the following:
      

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (a) Delivery
      to Buyer, in form and substance satisfactory to Buyer, of all of the documents
      and instruments referred to in Section 6 hereof; and 

    

    (b) Delivery
      to Seller, in form and substance satisfactory to Seller, of all of the documents
      and instruments referred to in Section 7 hereof; and

    

    (c) the
      accuracy and completeness, on the Closing Date, of all of Buyer’s and Seller’s
      representations and warranties set forth in Sections 4 and 5 hereof;
      and

    

    (d)
       the
      execution of the New Lease Documents by Seller, Buyer and the
      Landlord.

    

    4. Representations
      and Warranties of Seller and Sagemark.
      Seller
      and Sagemark represent and warrant to Buyer, as follows:

    

    4.1. Organization
      and Standing.
      Seller
      is a limited liability company, validly existing, and in good standing under
      the
      laws of the State of Florida, with full corporate power and authority to own,
      lease and operate its properties and to carry on its business as presently
      conducted. Sagemark is a corporation, validly existing, and in good standing
      under the laws of the State of New York and qualified to transact business
      in
      the State of Florida, with full corporate power and authority to own, lease
      and
      operate its properties and to carry on business as presently
      conducted.

    

    4.2. Authority;
      Binding Obligation.
      Seller
      and Sagemark have all requisite power and authority necessary for, and has
      taken
      all required action with respect to, the authorization, execution, delivery
      and
      performance of this Agreement and the consummation of the transactions
      contemplated hereby, when executed and delivered by Seller and Sagemark, will
      constitute valid and legally binding respective obligations of Seller and
      Sagemark, enforceable in accordance with its terms, except as the same may
      be
      limited by bankruptcy, insolvency, reorganization, moratorium, or other laws
      affecting generally the enforcement of creditors’ rights and by the effect of
      rules governing the availability of equitable remedies.

    

    4.3. No
      Conflict.
      Seller
      and Sagemark have the right, power, legal capacity and authority to enter into
      and perform their respective obligations under this Agreement. Neither the
      authorization, execution, delivery and performance of this Agreement nor the
      consummation of the transactions contemplated hereby will violate any provision
      of the Articles of Organization of Seller or any other governance document
      of
      Seller or Sagemark or violate or be in conflict with or constitute, with or
      without the passage of time or the giving of notice, either a default under
      any
      judgment, order, writ, decree, instrument, document or other agreement to which
      Seller is a party or by which it is bound, or an event which will create rights
      of acceleration, termination, cancellation, default or loss of rights
      thereunder, or result in the creation of any lien, claim, charge or encumbrance
      upon the Assets, except as to the lien and security interest created in favor
      of
      GE pursuant to the Assignment and Assumption Agreement.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    4.4. No
      Litigation.
      Neither
      Seller nor Sagemark is subject to any injunction, writ, judgment, order or
      decree of any court or governmental or other body which in any way relates
      to
      this Agreement or the transactions contemplated hereby. Neither Seller nor
      Sagemark is a party or otherwise subject to any action, suit or proceeding
      in
      any way relating to this Agreement or the transactions contemplated hereby
      nor,
      to the respective best knowledge of Seller and/or Sagemark, is any such action,
      suit or proceeding threatened against Seller or Sagemark. There is no action,
      suit or proceeding by Seller or Sagemark relating in any way to this Agreement
      or the transactions contemplated hereby currently pending or which Seller or
      Sagemark intends to initiate. 

    

    4.5. Broker’s
      or Finder’s Fees.
      Neither
      Seller nor Sagemark has engaged or dealt with any broker, finder, or other
      person or entity who is entitled to any brokerage fee, commission or other
      compensation as a result of the execution of this Agreement and/or the
      consummation of the transactions contemplated hereby. 

    

    4.6. No
      Other Representations or Warranties.
      Except
      as provided in this Section 4 or elsewhere in this Agreement, neither Seller
      nor
      Sagemark has made any other representation or warranty to Buyer under or in
      connection with this Agreement or the transactions contemplated hereby.

    

    5. Representations
      and Warranties of Buyer.
      Buyer
      represents and warrants to Seller
      as
      follows:

    

    5.1. Organization
      and Standing.
      The
      Buyer is a limited liability company, duly organized, validly existing, and
      in
      good standing under the laws of the State of Florida with full power and
      authority to own, lease, and operate its properties and to carry on its business
      as currently conducted. 

    

    5.2. Authority;
      Binding Obligation.
      Buyer
      has all requisite power and authority necessary for, and has taken all required
      action with respect to, the authorization, execution, delivery and performance
      of this Agreement and the consummation of the transactions contemplated hereby,
      when executed and delivered by Buyer, will constitute a valid and legally
      binding obligation of Buyer, enforceable in accordance with its terms, except
      as
      the same may be limited by bankruptcy, insolvency, reorganization, moratorium,
      or other laws affecting generally the enforcement of creditors‘ rights and by
      the effect of rules governing the availability of equitable
      remedies.

    

    5.3. No
      Conflict.
      Buyer
      has the right, power, legal capacity and authority to enter into and perform
      its
      obligations under this Agreement. Neither the authorization, execution, delivery
      and performance of this Agreement nor the consummation of any of the
      transactions contemplated hereby will violate any provision of the Articles
      of
      Organization of Buyer or violate or be in conflict with or constitute, with
      or
      without the passage of time or the giving of notice, either a default under
      any
      judgment, order, writ, decree, instrument, document or other agreement to which
      Buyer is a party or by which it is bound, or an event which will create rights
      of acceleration, termination, cancellation, default or loss of rights
      thereunder, or result in the creation of any lien, claim, charge or encumbrance
      upon the Assets, except as to the lien and security interest described in the
      Assignment and Assumption Agreement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    5.4. No
      Litigation.
      Buyer is
      not subject to any injunction, writ, judgment, order or decree of any court
      or
      governmental or other body which in any way relates to this Agreement or the
      transactions contemplated hereby. Buyer is not a party or otherwise subject
      to
      any action, suit, or proceeding in any way relating to this Agreement or the
      transactions contemplated hereby nor, to the best knowledge of Buyer, is any
      such action, suit, or proceeding threatened against Buyer. There is no action,
      suit or proceeding by Buyer relating in any way to this Agreement or the
      transactions contemplated hereby currently pending or which Buyer intends to
      initiate. 

    

    5.5. Broker’s
      or Finder’s Fees.
      Buyer
      has not engaged or dealt with any broker, finder, or other person or entity
      who
      is entitled to any brokerage fee, commission or other compensation as a result
      of the execution of this Agreement and/or the consummation of the transactions
      contemplated hereby. 

    

    5.6. No
      Other Representations or Warranties.
      Except
      as provided in this Section 5 or elsewhere in this Agreement, Buyer has made
      no
      other representation or warranty to Seller under or in connection with this
      Agreement or the transactions contemplated hereby. 

    

    6. Documents
      to be Delivered by Seller and/or Sagemark at the
      Closing.
      Seller
      and/or Sagemark will deliver the following documents to Buyer at the
      Closing:

    

    6.1 Debt
      Release Instrument signed by Seller (in form and substance satisfactory to
      the
      Buyer). 

    

    6.2 Assignment
      and Assumption Agreement. 

    

    6.3 Bill
      of
      Sale for the Assets in the form attached as Exhibit “B” and made a part hereof.

    

    6.4
      The
      New Lease Documents as provided in Section 3.2(d).

    

    6.5 Such
      other certificates, documents and instruments required by this Agreement to
      be
      delivered by Seller, or as Buyer or its counsel may otherwise reasonably
      request, consistent with the provisions of this Agreement. 

    

    7.
       Documents
      to be Delivered by Buyer at the Closing.
      Buyer
      will deliver to Seller at Closing: 

    

    7.5 Executed
      copy of this Agreement.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    7.6 Assignment
      and Assumption Agreement. 

    

    7.7   The
      New
      Lease Documents as provided in Section 3.2(d).

    

    7.8 Such
      other certificates, documents and instruments required by this Agreement to
      be
      delivered by Buyer, or as Seller or its counsel may otherwise reasonably
      request, consistent with the provisions of this Agreement.

    

    8. Miscellaneous.

    

    8.1. Entire
      Agreement.
      This
      Agreement along with the Exhibits hereto constitutes the sole and entire
      agreement among the parties hereto in respect of the transactions contemplated
      hereby and supersedes all prior agreements, arrangements, understandings,
      representations and warranties relating to the subject matter hereof. No
      amendment, change in, or modification to this Agreement shall be binding unless
      in writing and signed by the party to be bound thereby. Notwithstanding the
      foregoing, the Preambles to this Agreement shall be deemed to be included herein
      as if fully set forth above.

    

    8.2. Notices.
      All
      notices, consents, demands, requests, and other communications required or
      permitted to be given hereunder (the “Notices”)
      shall
      be in writing and shall be deemed to have been duly given on the same day if
      delivered personally, receipt acknowledged, or by facsimile transmission (with
      original to follow by first class mail),or by nationally recognized overnight
      courier service for next business day delivery, or three (3) days after mailing
      if mailed by certified mail, return receipt requested, addressed to the parties
      as follows (or to such other address as a party may designate as to itself
      by
      Notice to the other parties): 

    

    (a) If
      to
      Seller and Sagemark, at the address set forth on the first page of this
      Agreement, to the attention of “President,” with a copy to:

    

    Robert
      L.
      Blessey, Esq.

    c/o
      Gusrae Kaplan Bruno & Nusbaum, PLLC

    120
      Wall
      Street

    New
      York,
      New York 10005

    

    -and-

    

    George
      W.
      Mahoney, Chief Financial Officer

    The
      Sagemark Companies Ltd.

    4710
      N.W.
      Boca Raton Boulevard, Suite 200

    Boca
      Raton, FL 33431

    

    (b) If
      to
      Buyer, to it at the address set forth on the first page of this
      Agreement.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    8.3. Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Florida with respect to contracts made and to be fully performed
      therein, without regard to the conflicts of laws principles thereof, except
      as
      to applicable Federal and state securities laws. 

    

    8.4. Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and permitted assigns. Nothing in this
      Agreement, whether expressed or implied, is intended to confer any rights or
      remedies upon or by reason of this Agreement on any persons other than the
      parties and signatories hereto. 

    

    8.5. Severability.
      Any
      provision of this Agreement which is determined to be invalid or unenforceable
      shall be ineffective to the extent of such invalidity or unenforceability
      without affecting in any way the remaining provisions hereof.

    

    8.6. Headings.
      The
      Section headings contained herein are for the purpose of convenience only and
      are not intended to define or limit the contents of said Sections. 

    

    8.7. Counterparts.
      This
      Agreement may be executed in one or more counterparts, all of which shall be
      considered one and the same agreement and shall become effective when one or
      more counterparts have been signed by each of the parties hereto and delivered
      to each of the other parties hereto.

    

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Agreement on the day and year first
      written.

     

    [See
      next page for signatures to this Asset Purchase Agreement]

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

      
        	
                SELLER:

              
	 	 	 
	 	 	 
	
                ATTEST:

              	 	
                PREMIER
                  PET IMAGING OF TAMARAC, LLC, a Florida limited liability
                  company

              
	 	 	 
	
                /s/
                  Jan Lipstein

              	 	
                By:  /s/
                  Ron Lipstein

              
	 	 	
                Its:  Managing
                  Member

              
	 	 	 
	 	 	 
	
                ATTEST:

              	 	
                THE
                  SAGEMARK COMPANIES LTD.

              
	 	 	
                a
                  New York corporation

              
	 	 	 
	
                /s/
                  Jan Lipstein

              	 	
                By:

              	
                /s/
                  Ron Lipstein

              	 
	 	 	
                Its:

              	
                President
                  and Chief Executive Officer

              
	 	 	 
	 	 	 
	
                ATTEST:

              	 	
                ASCENT
                  DIAGNOSTIC IMAGING OF TAMARAC, LLC, a Florida limited liability
                  company

              
	 	 	 
	 	 	
                By:
                  Ascent, LLC

              
	 	 	
                Its:  Managing
                  Member

              
	 	 	 
	 	 	
                By:

              	
                /s/
                  Robert O. Baratta

              	 
	 	 	 	
                Robert
                  O. Baratta, M.D., Managing Member

              
	 	 	 
	 	 	
                and

              
	 	 	 
	
                ATTEST:

              	 	
                By:  Advance
                  Molecular Imaging of Florida, LLC

              
	 	 	
                Its:  Managing
                  Member

              
	 	 	 
	 	 	
                By:

              	
                /s/
                  Michael Fagien

              	 
	 	 	 	
                Michael
                  Fagien, M.D., Sole Member

              

      

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    FORM
      OF ASSIGNMENT AND ASSUMPTION AGREEMENT

    

      
        	
                

              	
                GE

              
	 	
                Healthcare
                  Financial Services

              
	 	 

      

    

     

    ASSIGNMENT
      AND ASSUMPTION AGREEMENT

    

      
        	
                Assignor:

              	
                Assignee:

              
	 	 
	
                THE
                  SAGEMARK COMPANIES, LTD.

              	
                ASCENT
                  DIAGNOSTIC IMAGING OF

              
	
                4710
                  NW BOCA RATON BLVD

              	
                TAMARAC,
                  LLC

              
	
                SUITE
                  200

              	
                2100
                  S.E. OCEAN BOULEVARD

              
	
                BOCA
                  RATON, FL 33431

              	
                SUITE
                  102

              
	 	
                STUART,
                  FL 34996

              
	 	 
	
                Company:

              	
                Contracts:

              
	 	 
	
                GENERAL
                  ELECTRIC CAPITAL CORPORATION

              	
                Contract
                  Numbers: See Exhibit A

              
	
                20225
                  WATERTOWER BLVD.

              	 
	
                BROOKFIELD,
                  WI 53045

              	 
	 	 
	
                Equipment:

              	
                Effective
                  Date:

              
	 	 
	
                See
                  Exhibit A

              	
                ______________,
                  2008

              

      

    

    

    THIS
      ASSIGNMENT AND ASSUMPTION AGREEMENT, herein "Agreement," dated this ____ day
      of
      ____________, 2008, is by and between Assignor and Assignee and regards
      Assignor's assignment to Assignee and Assignee's assumption, effective as of
      the
      Effective Date, of all of Assignor's rights, duties and obligations under the
      Contracts.

    

    WHEREAS,
      Company has financed, sold or leased to Assignor, subject to and in accordance
      with the terms, conditions and provisions of the Contracts, certain medical
      equipment and other property described in the Contracts, true and complete
      copies of which are attached hereto and made a part hereof as Exhibit A;
      and

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    WHEREAS,
      Assignor desires to assign to Assignee its future rights, duties and obligations
      of Assignor under the Contracts, effective as of the Effective Date;
      and

     

    WHEREAS,
      Assignee desires to accept the assignment from Assignor of and to assume all
      future rights, duties and obligations of Assignor under the Contracts, effective
      as of the Effective Date; and

    

    WHEREAS,
      Assignor and Assignee to accomplish this end must obtain the written consent
      of
      Company and evidence their assignment and assumption agreement in
      writing;

    

    NOW,
      THEREFORE, for the reasons recited above and in consideration of the mutual
      covenants contained herein, Assignor and Assignee intending to be legally bound
      agree as follows:

    

    1.
      Assignor hereby and by these presents does assign, transfer and convey unto
      Assignee, its successors and assigns, effective as of the Effective Date, all
      of
      the Assignor's future rights, duties and obligations under the Contracts, to
      have and to hold the same unto Assignee, its successors and Assigns forever,
      as
      if Assignee were named in the original Contracts in place of the Assignor as
      an
      obligor thereunder, subject, however, to the terms and conditions of the
      Contracts, Company hereby confirming its consent to the said assignment and
      assumption, Assignor's retention of the full benefit of and liability for all
      of
      its rights, duties and obligations under the Contracts that become due and
      payable or are otherwise to be performed prior to the Effective Date, and
      Assignee's only enjoying the benefit of and being solely liable for all of
      Assignor's future rights, duties and obligations under the Contracts that become
      due and payable or are otherwise to be performed on or after the Effective
      Date.

    

    2.
      Assignee hereby and by these presents does unconditionally purchase and accept
      the assignment, transfer and conveyance from Assignor of and assume, effective
      as of the Effective Date, all of Assignor's future rights, duties and
      obligations under the Contracts, as the same have been amended by amendments
      of
      even date herewith between Assignee and Company, to have and to hold the same
      unto Assignee, its successors and assigns forever, as if Assignee were named
      in
      the original Contracts in place of Assignor as an obligor thereunder, subject,
      however, to the terms and conditions of the Contracts, Company hereby confirming
      its consent to the said assignment and assumption, Assignor's retention of
      the
      full benefit of and liability for all of its rights, duties and obligations
      under the Contracts that become due and payable or are otherwise to be performed
      prior to the Effective Date and Assignee only enjoying the full benefit of
      and
      being liable for all of Assignor's future rights, duties and obligations under
      the Contracts that become due and payable or are otherwise to be performed
      on or
      after the Effective Date.

     

    3.
      Assignor hereby and by these presents does agree not to assert against Company
      any defense, setoff, recoupment, claim or counterclaim which Assignee might
      have
      against Company under or in relation to the Contracts on or after the Effective
      Date (except for the defense of timely payment).

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    4.
      Assignee hereby and by these presents does agree not to assert against Company
      any defense, setoff, recoupment, claim or counterclaim which Assignor might
      have
      against Company under or in relation to the Contracts before the Effective
      Date
      (except for the defense of timely payment).

     

    5.
      Assignor and Assignee hereby and by these presents agree that any consent by
      Company to this Agreement shall not be deemed to be a consent by Company to
      any
      subsequent or other assignment and/or assumption by Assignor or Assignee and
      that any other assignment and/or assumption without Company's prior written
      consent shall be null and void.

     

    6.
      Assignor agrees to indemnify, defend and hold harmless Assignee from and against
      any and all such duties and obligations under the Contracts other than those
      first coming due on or after the Effective Date. Assignee will indemnify, defend
      and hold harmless Assignor from and against all such duties and obligations
      under the Contracts which arise subsequent to the Effective Date.

    

    7.
      In
      connection with the assignment and assumption contemplated by this Agreement,
      Company will waive past due rents and other amounts due under the Contracts,
      as
      follows:

    
      

        Contract
          No.: 8545088002

        

        
          	
                  Date

                	 	
                  Invoice
                    Number 

                	 	
                  Amount

                
	
                  1/15/08

                	 	
                  13611210

                	 	
                  $15,676.06

                
	
                  2/15/08

                	 	
                  13697919

                	 	
                  $15,676.06

                
	
                  3/15/08

                	 	
                  13773609

                	 	
                  $19,000.00

                
	 	 	 	 	
                  Total:
                    $50,352.12

                

        

        

        Contract
          No. 8545088003

        

        
          	
                  Date

                	 	
                  Invoice
                    Number 

                	 	
                  Amount

                
	
                  12/30/07

                	 	
                  N/A

                	 	
                  $24.02

                
	
                  1/30/08

                	 	
                  N/A

                	 	
                  $1,183.08

                
	
                  2/29/08

                	 	
                  N/A

                	 	
                  $1,183.08

                
	
                  3/30/08

                	 	
                  N/A

                	 	
                  $1,183.08

                
	 	 	 	 	
                  Total:
                    $3,573.26

                

        

        

        Contract
          No. 8545092001

        

        
          	
                  Date

                	 	
                  Invoice
                    Number 

                	 	
                  Amount

                
	
                  1/15/08

                	 	
                  13611211

                	 	
                  $2,688.80

                
	
                  2/15/08

                	 	
                  13697920

                	 	
                  $8,147.57

                
	
                  3/15/08

                	 	
                  13773610

                	 	
                  $8,147.57

                
	 	 	 	 	
                  Total:
                    $18,983.94

                

        

        

        Total
          (All Contracts): $72,909.32

      

      

      [REMAINDER
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      EXECUTION
        PAGE FOLLOWS]

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, Assignor and Assignee have caused these presents to be executed
      the day first above written.

     

    
      	
              ATTESTED:

            	
              ASSIGNOR:

            	 
	 	 	 
	 	
              THE
                SAGEMARK COMPANIES, LTD.

            	 
	 	 	 
	 	
              By:

            	 	 
	 	 	 
	 	 	 
	 	
              Title

            	 
	 	 	 
	 	
              ASSIGNEE:

            	 
	 	 	 
	 	
              ASCENT
                DIAGNOSTIC IMAGING OF

            	 
	 	
              TAMARAC,
                LLC

            	 
	 	 	 
	 	
              By:  ASCENT,
                L.L.C., its Manager

            	 
	 	 	 
	 	 	 
	 	
              By:

            	 	 
	 	 	 
	 	 	 
	 	
              Title

            	 

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    FORM
      OF
      CONSENT

    

    Company,
      in consideration of the foregoing, hereby consents to this Assignment and
      Assumption Agreement and discharges Assignor from all duties and obligations
      due, payable or performable under the Contracts,
      except
      such duties and obligations that, pursuant to the terms of the Contracts, are
      intended to survive expiration or termination of the Contracts.

    

      
        	 	
                General
                  Electric Capital Corporation

              	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	
                (Type
                  or Print Name)

              	 
	 	 	 
	 	
                Duly
                  Authorized Signatory

              	 
	 	
                Title

              	 

      

    

     

    EXHIBIT
      A

    

      
        	
                Contract
                  Number

              	 	
                Equipment

              
	 	 	 
	
                8545088-003

              	 	
                HOT
                  LAB

              
	
                8545088-002

              	 	
                DISCOVERY
                  ST PET/CT SYSTEM

              
	
                8545092-001

              	 	
                PROM
                  NOTE LEASEHOLD IMPROVEMENTS

              

      

    

    

    Copies
      of
      Contracts are attached.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

    

    BILL
      OF SALE

     

    Premier
      PET Imaging of Tamarac, LLC,
      a
      Florida limited liability company AND The
      Sagemark Companies Ltd.
      (collectively, the “Seller”),
      for
      and
      in consideration of the sum of FIVE HUNDRED AND NO/100 DOLLARS ($500.00)
      and other good and valuable considerations the receipt and sufficiency of which
      is hereby acknowledged does hereby grant, convey, assign, transfer, sell and
      deliver to Ascent
      Diagnostic Imaging of Tamarac, LLC,
      a
      Florida limited liability company (“Buyer”),
      all of
      Seller’s right, title and interest in and to the assets described on
Exhibit
      A
      attached
      hereto (the “Assets”).
      Notwithstanding the foregoing, Seller represents and warrants that, by delivery
      of this Bill of Sale and any other title documents executed and delivered as
      of
      the date of this Bill of Sale, Seller shall and hereby does convey good and
      marketable title to the Assets. 

    

    For
      the
      avoidance of doubt, any item appearing on Exhibit A to this Bill of Sale that
      has a line strikethrough shall not be deemed part of the Assets covered
      hereby.

    

    This
      Bill
      of Sale and the covenants and agreements herein contained shall inure to the
      benefit of Buyer, its successors and assigns, and shall be binding upon Seller,
      its successors and assigns.

    

    IN
      WITNESS WHEREOF,
      the
      parties have caused this Bill of Sale to be executed on this ___ day of April,
      2008.

    

      
        	 	
                SELLER:

              
	 	 
	 	
                Premier
                  PET Imaging of Tamarac, LLC

              
	 	 
	 	 
	 	
                By:

              	 
	 	 	
                Its:

              	 	 
	 	 
	 	
                The
                  Sagemark Companies Ltd.

              
	 	 
	 	 
	 	
                By:

              	 
	 	 	
                Its:

              	 	 

      

    

     

    [SIGNATURES
      CONTINUE ON NEXT PAGE]

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    

    
      	 	
              BUYER:

            
	 	 	 
	 	 	
              Ascent
                Diagnostic Imaging of Tamarac, LLC

            
	 	 	 
	 	 	
              By:

            	
              Ascent,
                L.L.C.

            
	 	 	 	
              Member/Manager

            
	 	 	 	 
	 	 	 	
              By:

            	 
	 	 	 	 	
              Robert
                O. Baratta, M.D.

            
	 	 	 	 	
              Manager

            
	 	 	 	 	 
	 	 	
              and

            
	 	 	 	 
	 	 	
              By:

            	
              Advanced
                Molecular Imaging of Florida, LLC

            
	 	 	 	
              Member/Manager

            
	 	 	 	 
	 	 	 	
              By:

            	 
	 	 	 	 	
              Michael
                Fagien, M.D.

            
	 	 	 	 	
              Manager

            

    

     

    
      
        
        

      

      
        15Exhibit
      10.03

    

    
      	
              

            	
              GE

            
	 	
              Healthcare
                Financial Services

            

    

    
      
        

      

    ASSIGNMENT
      AND ASSUMPTION AGREEMENT

    

    
      	
              Assignor:

            	 	
              Assignee:

            
	 	 	 
	
              THE
                SAGEMARK COMPANIES, LTD.

            	 	
              ASCENT
                DIAGNOSTIC IMAGING OF

            
	
              4710
                NW BOCA RATON BLVD

            	 	
              JACKSONVILLE,
                LLC

            
	
              SUITE
                200

            	 	
              2100
                S.E. OCEAN BOULEVARD

            
	
              BOCA
                RATON, FL 33431

            	 	
              SUITE
                102

            
	
               

            	 	
              STUART,
                FL 34996 

            
	 	 	 
	
              Company:

            	 	
              Contracts:

            
	 	 	 
	
              GENERAL
                ELECTRIC CAPITAL CORPORATION

            	 	
              Contract
                Numbers: See Exhibit A

            
	
              20225
                WATERTOWER BLVD.

            	 	 
	
              BROOKFIELD,
                WI 53045

            	 	 
	 	 	 
	
              Equipment:

            	 	
              Effective
                Date:

            
	 	 	 
	
              See
                Exhibit A

            	 	
              April
                24, 2008

            

    

    

    THIS
      ASSIGNMENT AND ASSUMPTION AGREEMENT, herein "Agreement," dated this
      24th
      day of
      April, 2008, is by and between Assignor and Assignee and regards Assignor's
      assignment to Assignee and Assignee's assumption, effective as of the Effective
      Date, of all of Assignor's rights, duties and obligations under the
      Contracts.

    

    WHEREAS,
      Company has financed, sold or leased to Assignor, subject to and in accordance
      with the terms, conditions and provisions of the Contracts, certain medical
      equipment and other property described in the Contracts, true and complete
      copies of which are attached hereto and made a part hereof as Exhibit A;
      and

    

    WHEREAS,
      Assignor desires to assign to Assignee its future rights, duties and obligations
      of Assignor under the Contracts, effective as of the Effective Date;
      and

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    WHEREAS,
      Assignee desires to accept the assignment from Assignor of and to assume all
      future rights, duties and obligations of Assignor under the Contracts, effective
      as of the Effective Date; and

    

    WHEREAS,
      Assignor and Assignee to accomplish this end must obtain the written consent
      of
      Company and evidence their assignment and assumption agreement in
      writing;

    

    NOW,
      THEREFORE, for the reasons recited above and in consideration of the mutual
      covenants contained herein, Assignor and Assignee intending to be legally bound
      agree as follows:

    

    1.
      Assignor hereby and by these presents does assign, transfer and convey unto
      Assignee, its successors and assigns, effective as of the Effective Date, all
      of
      the Assignor's future rights, duties and obligations under the Contracts, to
      have and to hold the same unto Assignee, its successors and Assigns forever,
      as
      if Assignee were named in the original Contracts in place of the Assignor as
      an
      obligor thereunder, subject, however, to the terms and conditions of the
      Contracts, Company hereby confirming its consent to the said assignment and
      assumption, Assignor's retention of the full benefit of and liability for all
      of
      its rights, duties and obligations under the Contracts that become due and
      payable or are otherwise to be performed prior to the Effective Date, and
      Assignee's only enjoying the benefit of and being solely liable for all of
      Assignor's future rights, duties and obligations under the Contracts that become
      due and payable or are otherwise to be performed on or after the Effective
      Date.

    

    2.
      Assignee hereby and by these presents does unconditionally purchase and accept
      the assignment, transfer and conveyance from Assignor of and assume, effective
      as of the Effective Date, all of Assignor's future rights, duties and
      obligations under the Contracts, as the same have been amended by amendments
      of
      even date herewith between Assignee and Company, to have and to hold the same
      unto Assignee, its successors and assigns forever, as if Assignee were named
      in
      the original Contracts in place of Assignor as an obligor thereunder, subject,
      however, to the terms and conditions of the Contracts, Company hereby confirming
      its consent to the said assignment and assumption, Assignor's retention of
      the
      full benefit of and liability for all of its rights, duties and obligations
      under the Contracts that become due and payable or are otherwise to be performed
      prior to the Effective Date and Assignee only enjoying the full benefit of
      and
      being liable for all of Assignor's future rights, duties and obligations under
      the Contracts that become due and payable or are otherwise to be performed
      on or
      after the Effective Date.

     

    3.
      Assignor hereby and by these presents does agree not to assert against Company
      any defense, setoff, recoupment, claim or counterclaim which Assignee might
      have
      against Company under or in relation to the Contracts on or after the Effective
      Date (except for the defense of timely payment).

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.
      Assignee hereby and by these presents does agree not to assert against Company
      any defense, setoff, recoupment, claim or counterclaim which Assignor might
      have
      against Company under or in relation to the Contracts before the Effective
      Date
      (except for the defense of timely payment).

     

    5.
      Assignor and Assignee hereby and by these presents agree that any consent by
      Company to this Agreement shall not be deemed to be a consent by Company to
      any
      subsequent or other assignment and/or assumption by Assignor or Assignee and
      that any other assignment and/or assumption without Company's prior written
      consent shall be null and void.

     

    6.
      Assignor agrees to indemnify, defend and hold harmless Assignee from and against
      any and all such duties and obligations under the Contracts other than those
      first coming due on or after the Effective Date. Assignee will indemnify, defend
      and hold harmless Assignor from and against all such duties and obligations
      under the Contracts which arise subsequent to the Effective Date.

    

    7.
      In
      connection with the assignment and assumption contemplated by this Agreement,
      Company will waive past due rents and other amounts due under the Contracts,
      as
      follows:

    

    Contract
      No.: 8541220001

    

    
      	
              Date

            	 	
              Invoice
                Number 

            	 	
              Amount

            
	
              1/15/08

            	 	
              13610541

            	 	
              $2,897.66

            
	
              1/15/08

            	 	
              13773262

            	 	
              $144.88
                (Late Fee)

            
	
              2/15/08

            	 	
              13697577

            	 	
              $10,161.86;

            
	
              2/15/08

            	 	
              13842636

            	 	
              $508.09
                (Late Fee);

            
	
              3/15/08

            	 	
              13773263

            	 	
              $10,161.86

            
	
              3/15/08

            	 	
              N/A

            	 	
              $508.09
                (Late Fee)

            
	 	 	 	 	 
	 	 	 	 	
              Total:
                $24,382.44

            

    

     

    Contract
      No. 8541217002

    

    
      	
              Date

            	 	
              Invoice
                Number 

            	 	
              Amount

            
	
              2/01/08

            	 	
              13660130

            	 	
              $904.56

            
	
              2/01/08

            	 	
              13805368

            	 	
              $45.23
                (Late Fee)

            
	
              3/01/08

            	 	
              13736755

            	 	
              $904.56

            
	
              3/01/08

            	 	
              N/A

            	 	
              $45.23

            
	
              4/01/08

            	 	
              13805369

            	 	
              $904.56

            
	 	 	 	 	 
	 	 	 	 	
              Total:
                $2,804.14

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    Contract
      No. 8541217003

    

    
      	
              Date

            	 	
              Invoice
                Number 

            	 	
              Amount

            
	
              2/01/08

            	 	
              13660131

            	 	
              $41,377.76

            
	
              2/01/08

            	 	
              13805370

            	 	
              $1,933.54
                (Late Fee)

            
	
              3/01/08

            	 	
              13736756

            	 	
              $41,377.76

            
	
              3/01/08

            	 	
              N/A

            	 	
              $1,933.54
                (Late Fee);

            
	
              3/01/08

            	 	
              13743997

            	 	
              $31,549.18
                (Property Tax)

            
	
              3/01/08

            	 	
              N/A

            	 	
              $1,474.26
                (Late Fee)

            
	
              4/01/08

            	 	
              13805371

            	 	
              $41,377.76

            
	 	 	 	 	 
	 	 	 	 	
              Total:
                $161,023.80

            

    

    

    Total
      (All Contracts): $188,210.38

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK;

    EXECUTION
      PAGE FOLLOWS]

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, Assignor and Assignee have caused these presents to be executed
      the day first above written.

    

    
      	
              ATTESTED:

            	
              ASSIGNOR:

            
	 	 
	 	
              THE
                SAGEMARK COMPANIES, LTD.

            
	 	 
	
              /s/
                Jan Lipstein

            	
            	
              By:

            	
              /s/
                Ron Lipstein

            	
            
	 	 
	 	
              President
                and Chief Executive Officer

            
	 	
              Title

            
	 	 
	 	
              ASSIGNEE:

            
	 	 
	 	
              ASCENT
                DIAGNOSTIC IMAGING OF

            
	 	
              JACKSONVILLE,
                LLC

            
	 	 
	 	
              By:

            	
              ASCENT,
                L.L.C., its Manager

            
	 	 
	 	
              By:

            	
              /s/
                Robert O. Baratta

            	
            
	 	 
	 	
              President

            
	 	
              Title

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    FORM
      OF
      CONSENT

    

    Company,
      in consideration of the foregoing, hereby consents to this Assignment and
      Assumption Agreement and discharges Assignor from all duties and obligations
      due, payable or performable under the Contracts,
      except
      such duties and obligations that, pursuant to the terms of the Contracts, are
      intended to survive expiration or termination of the Contracts.

    

    
      	 	
              General
                Electric Capital Corporation

            
	 	 
	 	 
	 	 
	 	 
	 	
              (Type
                or Print Name)

            
	 	 
	 	
              Duly
                Authorized Signatory

            
	 	
              Title

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    
      	
              Contract
                Number

            	 	
              Equipment

            
	 	 	 
	
              8541217-002

            	 	
              HOT
                LAB & DIGITIZER

            
	
              8541217-003

            	 	
              DISCOVERY
                ST PET/CT SYSTEM

            
	
              8541220-001

            	 	
              PROM
                NOTE LEASEHOLD IMPROVEMENTS

            

    

    

    Copies
      of
      Contracts are attached.

     

    
      
        
        

      

      
        7

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