Document:

Exhibit 10.21

                              PUBLICITY AGREEMENT

             Prepared for INyX Inc. by Capital Financial Media, Inc.

AGREEMENT  made this 15th day of August 2003, by and between  Capital  Financial
Media, Inc. ("Publisher") and INyX, Inc. (the "Company").

WITNESSETH:

WHEREAS,  the Company is or will be publicly  held with its common stock trading
on one or more stock Exchanges, and

WHEREAS,  the Company  desires to publicize  itself with the intention of making
its name and business better known to potential shareholders, and

WHEREAS,  the  Publisher  is in the  business of public  relations,  direct mail
advertising and other related activities, and

WHEREAS, the Publisher is willing to help publicize the Company.

NOW THEREFORE,  in conclusion of the mutual  covenants herein  contained,  it is
agreed:

1.   Engagement. The Company hereby engages the Publisher to:

     o    Cause  to be  prepared  an  advertising/advertorial  product  (mailing
          package)  that  prominently   features  a  report  on  the  Company  -
          distribute  the  same to no  less  than  400,000  US  residents.  Said
          distribution shall occur in an initial distribution of 250,000, with 3
          ensuing 50,000 installments

     o    Coordination   with  the   Company  in   preparing   for  an  internal
          distribution  a  copy  of  the  mailing   package  to  its  "in-house"
          shareholder and contact lists accompanied by a shareholder  communique
          from the Company  addressing current corporate events and the upcoming
          national investor awareness  initiative.  Assistance with setup of ADP
          "Street Link" service if applicable.

2.   Assistance.  The  Company  acknowledges  the  Publisher  will  prepare  and
     distribute  an  advertising/advertorial  report on the  Company.  Publisher
     agrees to assist in additional  advertising/advertorial report mailings, as
     requested,     based    upon    additional    production    budgets.    All
     advertising/advertorial  disseminations  sponsored  by the Company  will be
     fully  disclosed as paid  advertising  (disclosing the amount and nature of
     compensation  and  associated  costs  of the  program  as  provided  for by
     applicable US Securities Acts and other Regulations.)

3.   Preparation of Report. The Company will cooperate fully and timely with the
Publisher to supply all materials  reasonably requested by either to prepare the
report.  Because the Publisher will rely upon this information in preparation of
the report and programs,  the Company  represents to the Publisher that all such
information  shall be true,  accurate,  and complete and not misleading,  in any
respect.

4.   Company  Review.  No material  about the Company  shall be  distributed  by
Publisher  unless and until the Company has reviewed and approved the same.  The
Company will act diligently and promptly in reviewing  materials submitted to it
by the Publisher to enhance timely distribution of the materials and will inform
the Publisher in writing, of any inaccuracies contained in the material prepared
prior to the  projected  publication  and/or  delivery  dates.  The Company will
acknowledge in writing that the material is correct, acceptable and approved for
public dissemination. (as corrected, if applicable).

5.   Program  cost.  In  consideration  of the  services to be  performed by the
Publisher and various  vendors and  sub-contractors,  the Company  agrees to pay
Publisher for all costs of creation and coordination of the programs outlined in
section  1 and  reasonable  allowance  for  Publisher's  overhead  and  creative
direction incurred in connection with performance of this Agreement.  Such costs
to be paid by the Company will be no more than US$360,000.

                                       1
<PAGE>

                              PUBLICITY AGREEMENT

6.   Funds Delivery Schedule. A non-refundable (US$75,000.00) initial deposit is
required with the executed agreement. The desired distribution date of the first
packages  is  9/15/03.  With  respect  to  scheduling  and  funds  required  for
execution,  the second  installment  of funds  (US$100,000.00)  must be received
prior to mail date. The third  installment of funds ($85,000) would be due prior
to  mail  date.  The  final  postage  amount  (can be  made  directly  to the US
Postmaster if desired, US$100,000) would be due 24 hours prior to the mail date.

7.   Publisher  Disclaimer.  PUBLISHER  MAKES NO  REPRESENTATION  THAT:  (A) ITS
PUBLICATION  AND  DISTRIBUTION OF THE PROGRAMS WILL RESULT IN ANY ENHANCEMENT TO
THE COMPANY,  (B) THE PRICE OF THE COMPANY'S  PUBLICLY  TRADED  SECURITIES  WILL
INCREASE, (C) ANY PERSON WILL BECOME A SHAREHOLDER IN THE COMPANY AS A RESULT OF
THE DISTRIBUTION OR (D) ANY PERSON WILL LEND MONEY TO OR INVEST IN THE COMPANY.

8.   Limitation  of  Publisher  Liability.  If  Publisher  fails to perform  its
services  hereunder,  its entire  liability to the Company  shall not exceed the
lesser  of: (a) the  amount of cash  payment  Publisher  has  received  from the
Company excluding any  non-refundable  deposits and or (b) the actual and direct
damage to the  Company  as a result of such  non-performance.  IN NO EVENT  WILL
PUBLISHER  OR  PARTNER  BE LIABLE FOR ANY  INDIRECT,  SPECIAL  OR  CONSEQUENTIAL
DAMAGES NOR FOR ANY CLAIM  AGAINST  THE COMPANY BY ANY PERSON OR ENTITY  ARISING
FROM OR IN ANY WAY RELATED TO THIS  AGREEMENT OR THE  ADVERTISING  AND PUBLICITY
ACTIVITIES UNDERTAKEN.

9.   Ownership of Materials.  All right,  title and interest in and to materials
to be produced by Publisher in connection with the services to be rendered under
this Agreement shall be and remain the sole and exclusive property of it.

10.  Confidentiality.  Until  such time as the same may become  publicly  known,
Publisher  agrees  that  any  information  provided  to it by the  Company  of a
confidential  nature will not be revealed or  disclosed to any person or entity,
except in the performance of this Agreement, and upon completion of its services
and upon the written  request to it.  Notwithstanding  the foregoing,  Publisher
shall be liable for any revelation of confidential  information that arises from
sources  other than  directly from the  beneficial  owners of  Publisher,  being
recognized and understood  that in the course of performance of this  Agreement,
many persons will have to receive access to such materials.

11.  Notices.  All notices  hereunder  shall be in writing and  addressed to the
party at the address  herein set forth,  or at such  address as to which  notice
pursuant to this section may be given, and shall be given by personal  delivery,
by certified  mail (return  receipt  requested),  Express  Mail,  or by national
overnight  courier.  If Company is a  non-resident  of the  United  States;  the
equivalent services of the postal system of the Company's residence may be used.
Notices  will be deemed  given upon the  earlier of actual  receipt or three (3)
business days after being mailed or delivered to such courier service.

    Notices shall be addressed to Publisher at:

             Capital Financial Media, Inc.
             Attn: Brian Sodi
             120A NE 5th Ave.
             Delray Beach, FL  33483
             (561) 272-0460

                                       2
<PAGE>

                              PUBLICITY AGREEMENT

             and to the Company at:

             INyX, Inc.
             Attn: Dr. Jack Kachkar
             801 Brickell Ave, 9th Floor
             Miami, FL
             33131

Such  addresses  and  notices  may be  changed  at any time by  either  party by
utilizing the foregoing  notice  procedures.  Any notices to be given  hereunder
will be  effective  if  executed  by and sent to the  attorneys  for the parties
giving such notice, and in connection therewith the parties and their respective
counsel agree that in giving such notices  counsel may  communicate  directly in
writing with such parties to the extent necessary to give such notice.

12.  Compliance  with  Law.  Publisher  shall  have no  obligation  to send  any
mailings  to  residents  of States of the United  States of America in which the
common stock of the Company cannot be secondarily  traded on a solicited  basis.
The Company and Publisher  will agree upon the States to which the mailings will
be directed.

13.  Miscellaneous.

          (A)  Governing Law. This Agreement  shall be governed by and construed
               and enforced in accordance with the internal laws of the State of
               Florida  without  regard to the  principles  of  conflicts of law
               thereof.   Each   party   hereby   irrevocably   submits  to  the
               non-exclusive  jurisdiction  of the  State  of  Florida  for  the
               adjudication of any dispute  hereunder or in connection  herewith
               or with any transaction  contemplated hereby or discussed herein,
               and hereby  irrevocably  waives,  and agrees not to assert in any
               suit,  action or proceeding,  any claim that it is not personally
               subject to the jurisdiction of any such court, or that such suit,
               action or proceeding is improper.
          (B)  Venue. Any litigation under this Agreement shall have as its sole
               and  exclusive  venue the  appropriate  state or  federal  courts
               sitting in the State of Florida.
          (C)  Multiple Counterparts. This Agreement may be executed in multiple
               counterparts, each of which shall be deemed an original. It shall
               not be necessary  that each party  execute each  counterpart,  or
               that any one  counterpart be executed by more than one party,  so
               long as  each  party  executes  at  least  one  counterpart.
          (D)  Separability.  If any  one or  more  of the  provisions  of  this
               Agreement shall be held invalid,  illegal, or unenforceable,  and
               provided that such provision is not essential to the  transaction
               provided for by this  Agreement,  such shall not affect any other
               provision  hereof,  and this  Agreement  shall be construed as is
               such  provision had never been contained  herein.
          (E)  Regulatory Acceptance. If the stock of the Company is listed on a
               foreign  exchange(s),  this  Agreement  shall be  subject  to its
               acceptance  by such  exchange(s)  to the extent  required  by the
               rules of such exchange(s).
          (F)  Presumption Against Draftsman.  The parties acknowledge that each
               party and its counsel have  participated  in the  negotiation and
               preparation of this Agreement.  This Agreement shall be construed
               without  regard  to  any  presumption  or  other  rule  requiring
               construction  against  the  party  causing  the  Agreement  to be
               drafted.
          (G)  The duties  and  obligation  of the  Company  shall  inure to the
               benefit of the Publisher.

                                       3
<PAGE>

                              PUBLICITY AGREEMENT

EXECUTED as a sealed instrument as of the day and year first above written.

Capital Financial Media, Inc.                        INyX, Inc.

By: /s/ Brian (ILLEGIBLE)             By: /s/  Jack Kachkar
    ---------------------                 ---------------------
    Duly Authorized                       Duly Authorized

                                       4
<PAGE>

                              PUBLICITY AGREEMENT

                                    EXHIBIT A
                            Equity Compensation Terms

The equity compensation package to consist of 4 components:
    -------------------

     1)   Issuance to Publisher of a warrant to purchase 25,000 shares of Common
          Stock at a strike/exercise price of $1.10 for a period of 3 years.

     2)   Issuance to Publisher of a warrant to purchase 25,000 shares of Common
          Stock at a strike/exercise price of $1.60 for a period of 3 years.

     3)   Issuance to Publisher of a warrant to purchase 25,000 shares of Common
          Stock, at a strike/exercise price of $2.10 for a
         period of 3 years.

     4)   Issuance to Publisher of a warrant to purchase 25,000 shares of Common
          Stock at a strike/exercise price of $2.60 for a period of 3 years.

Publisher  may  exercise the option in whole or in part and may pay the exercise
price (a) in cash or (b) by cashless exercise, as follows:

                    X = Y (A-B)/A
         Where:
                    X = the number of warrant shares to be issued to the warrant
                    holder.

                    Y = the number of warrant  shares with respect to which this
                    warrant is being exercised.

                    A = the  average of the closing  prices of the Common  Stock
                    for the five (5) Trading Days immediately  prior to (but not
                    including) the Date of Exercise.

                    B = the Exercise Price.
                    ------------------------------------------------------------

                                       5
<PAGE>

                              PUBLICITY AGREEMENT

                                    EXHIBIT B
                           Funds Delivery Instructions

Funds delivery Instructions:
--------------

By Wire:
Mellon Bank
3 Mellon Plaza
Pittsburg, PA 15259
ABA# 0430-0026-1
Swift #MELN US 3P
Credit: Merrill Lynch
A/C#: 101-1730
Customer Name: Capital Financial Media
Customer Acct #: 731-07C38

By Check:
Capital Financial Media, Inc.
Attn: Brian Sodi
120A - NE 5th Ave.
Delray Beach, FL  33483 (561) 272-0460

                                       6Exhibit 10.22

                                                     August 25, 2003

Dr. Jack Kachkar MD Chairman INYX, INC.
801 Brickell Avenue
Miami, FL 33131

RE: INVESTMENT BANKING AGREEMENT

Dear Mr. Kachkar:

This letter  confirms the terms upon which INYX,  INC. (the  "Company")  engages
Duncan  Capital LLC  ("Duncan") to provide  investment  banking  services to the
Company. This Agreement will be deemed to be effective as of August 25, 2003.

1.   Scope of Engagement.
     --------------------

     The  Company  hereby  engages  (the  "Engagement")  Duncan to: (i) secure a
     series of financings,  including an initial financing of $2.5 million to $3
     million through convertible  preferred stock as outlined in a proposed term
     sheet dated  August 25, 2003  (collectively,  "Financing")  or other equity
     financing acceptable to the Company;  (ii) provide other investment banking
     advisory and services;  cultivate  increased  investor  interest and buying
     activity in the Company's  common  stock;  and related  investor  relations
     counsel (collectively, "services").

     Commencing with the start of this Agreement, Duncan will cultivate steadily
     increasing  trading  volume in the  Company's  common  stock;  Duncan  will
     endeavor to increase  trading from less than the 8,500 shares average daily
     volume presently to 20,000 shares or higher average daily volume within the
     first 30 days,  to 30,000  shares or higher  average daily volume within 60
     days,  to 40,000  shares or higher  average  daily  volume  within 90 days.
     During this period, it is contemplated that between 1 million and 2 million
     of the Company's  common shares will be purchased in the open market;  this
     will include shares  purchased by Duncan and/or  affiliates of Duncan;  all
     such stock buying will be conducted in full compliance with and governed by
     U.S. securities regulations.

2.   Scope of Work.
     --------------

     In connection with the Engagement:

     a.   Duncan will familiarize itself to the extent it deems appropriate with
     the  business,  operations,  financial  condition,  and  prospects  of  the
     Company;

     b.   For any Financing, the Company, with Duncan's assistance, will prepare
     a Confidential  Business Plan and/or Executive Summary Plan  ("Confidential
     Plan"), which will contain various matters including:  (i) a description of
     the Company,  its business,  assets,  growth prospects and management;  and
     (ii)  certain  detailed  past  and  projected  financial  information.   If
     required, the Company will update the Confidential Plan as necessary;

<PAGE>

     c.   Duncan  will  identify  and   introduce   possible   capital   sources
     ("Duncan-Identified  Capital  Sources")  that  might  have an  interest  in
     receiving the Confidential Plan and evaluating  providing  Financing to the
     Company;  the Identified Capital Sources will be presented by Duncan to the
     Company for its approval; such approved capital sources shall be considered
     Duncan's sources for purposes of this contract.

     d.   Duncan is authorized,  on the Company's  behalf,  to release copies of
     the Confidential Plan and to relay other information on the Company to such
     Identified  and  Approved  Capital  Sources  pursuant to a  Confidentiality
     Agreement to be entered between Duncan and such possible sources;

     e.   Duncan  will  assist  the  Company  and  its  Board  of  Directors  in
     evaluating any Financing and other investment banking transactions; and

     f.   If  requested,  Duncan  will  participate  in meetings of the Board of
     Directors  of  the  Company   (either  in  person  or  by   telephone,   as
     appropriate).

3.   Company Responsibilities, Representations and Warranties.
     ---------------------------------------------------------

     3.1  In connection with the Engagement:

     a.   The Company agrees to cooperate with Duncan and will furnish to Duncan
     all information and data concerning the Company (the "Information"),  which
     Duncan  reasonably deems appropriate for purposes of rendering its services
     hereunder,  and will  provide  Duncan  access  to the  Company's  officers,
     directors, employees and advisors;

     b.   The Company  represents  and  warrants to Duncan that all  information
     included or incorporated by reference in any Confidential Plan or otherwise
     made  available  to Duncan by the  Company to be  communicated  to possible
     lenders  in   connection   with  a  Financing  or  to  investors  in  other
     Company-related  transactions  in which  Duncan  is  involved:  (i) will be
     complete and correct and does not and will not contain any untrue statement
     of a material fact or omit to state a material  fact  necessary in order to
     make the statements  made, in light of the  circumstances  under which they
     were made, not misleading;  and (ii) any projected financial information or
     other forward-looking  information that the Company provides to Duncan will
     be made by the Company in good faith,  based on management's best estimates
     at the time and based on facts and  assumptions  that the Company  believes
     are reasonable;

     c.   The Company agrees to promptly  notify Duncan if the Company  believes
     that any  information  that was  previously  provided  to Duncan has become
     materially misleading or inaccurate in any way;

     d.   The Company  acknowledges  and agrees that,  in rendering its services
     hereunder,  Duncan  will be  using  and  relying  on the  information  (and
     information available from public sources and other sources deemed reliable
     by Duncan) without  independent  investigation  or verification  thereof or
     independent  appraisal  or  evaluation  of the  Company or its  business or
     assets,  or of any other party to a Financing or any other  Company-related
     transaction in which Duncan is involved.  Duncan has no responsibility  for
     the accuracy or completeness of the Confidential Business Plan or any other
     information regarding the Company; and

<PAGE>

     e.   The Company agrees it is solely responsible for the decision to accept
     any Financing and  acknowledges  that Duncan is not responsible for the due
     diligence,  legal or regulatory  compliance,  and success or failure of any
     Financing.

     3.2  The   references  in  this  Section  3  to  the  Company  will,   when
     appropriate, be deemed also to include its parent(s), subsidiaries or other
     affiliates.  3.3 Any advice  rendered by Duncan during the Engagement or in
     meetings  with the Company and/ or its Board of  Directors,  as well as any
     written materials  provided by Duncan,  are intended solely for the benefit
     and confidential use of the Company and will not be reproduced, summarized,
     described  or  referred  to or given to any other  person  for any  purpose
     without  Duncan's prior wriconsent  (except for the Company's  accountants,
     attorneys and similarly employed and/or engaged persons).

     3.4  The Company  represents  to Duncan that the Company has not engaged in
     any public or private offering of securities or taken or failed to take any
     action that would  cause any  Financing  not to qualify  for an  applicable
     exemption  from  registration  under the Securities Act of 1933, as amended
     (the "Act"). Further the Company agrees not to solicit any offerees or take
     any action which might  jeopardize the  availability of exemption under the
     Act.

4.   Duncan's Fees.
     --------------

     As compensation for its services,  the Company agrees to pay Duncan fees as
     follows:

     4.1  Retainer Fee. As compensation for services rendered in connection with
     this Agreement,  the Company agrees to compensate Duncan as follows: (i) to
     pay  Duncan a monthly  cash  retainer  fee of $7,500  due in advance on the
     first of each month;  (ii) at the commencement of this Agreement,  to issue
     to Duncan 300,000 stock  purchase  warrants with an exercise price of $1.25
     per share;  and (iii) if the Company's  market  capitalization  reaches $50
     million  to  qualify to have its  common  stock  listed for  trading on the
     American Stock Exchange  without having to effect a reverse stock split, it
     will issue to Duncan an additional  300,000 warrants with an exercise price
     of $1.25 per share  when Amex  listing is  commenced.  All shares of common
     stock  underlying  warrants  issued to  Duncan  will be  registered  by the
     Company for trading within 30 days of issuance and the term of the warrants
     will be five years and will be fully assignable by Duncan.

     4.2  Financing  Fee. As  compensation  for services  rendered in connection
     with  any  Financing  completed  by  the  Company  with   Duncan-Identified
     Investors,  Duncan  will be  compensated  as follows:  Upon  closing of any
     Financing,  Duncan  will  be paid a cash  fee  equal  to 8% on any  capital
     raised.  To the extent  Duncan has used any other  agents,  Duncan will pay
     them directly or at Duncan's  option,  and subject to  compliance  with all
     applicable laws, rules and regulations, the Company will pay such agent and
     reduce  Duncan's  Financing  Fee by such amount.  Any  expenses  previously
     approved in writing by the Company will be  reimbursed to Duncan as well at
     each closing of a Financing unless the Company,  at Duncan's  request,  has
     paid such expenses in advance.

     4.3  Warrants.   For  any   Financing   completed   by  the  Company   with
     Duncan-Identified Investors, Duncan will also receive warrants equal to 10%
     coverage on any equity, debt or convertible  security issued as part of the
     Financing;  with the warrant coverage  assuming full conversion at the then
     market  price,  and with the  warrant  exercise  price equal to 120% of the
     Company's common stock price at the date that a Financing closes,  and with
     piggyback  registration rights on the common stock underlying the warrants.
     The term of the warrants will be five years and will be fully assignable by
     Duncan.

<PAGE>

     4.4  Follow-On  Financing.   For  a  period  of  18  months  following  the
     termination  of this  Agreement and if any Financing is completed  with any
     Duncan-Identified  Investors,  Duncan  shall be entitled to receive fees as
     set forth in this Section 4 with respect to any such transaction.

5.   Expenses.
     ---------

     The  Company  will  reimburse  Duncan  for  all  normal  business  expenses
     (including  fees and  expenses  of its  counsel  and any other  independent
     experts  retained by Duncan)  reasonably  incurred by it in connection with
     its Engagement hereunder, whether or not any Financing is consummated. Such
     reimbursement  will be  payable  promptly  upon  submission  by  Duncan  of
     statements  to the Company,  which usually will be issued  monthly.  If any
     expense shall exceed $500, Duncan shall obtain the prior written consent of
     the Company before incurrence of such expense.

6.   Scope of Responsibility, Etc.
     -----------------------------

     Neither  Duncan  nor any of its  affiliates  (nor any of  their  respective
     control persons, directors,  officers, employees or agents) shall be liable
     to the Company or to any other person claiming  through the Company for any
     claim, loss, damage,  liability, cost or expense suffered by the Company or
     any such person arising out of or related to Duncan's Engagement  hereunder
     (a  "Company  Claim")  except  for a claim,  loss or  expense  that  arises
     primarily out of or is based primarily upon any action or failure to act by
     Duncan, other than an action or failure to act undertaken at the request or
     with the written consent of the Company,  that is found in a final judicial
     determination (or settlement  tantamount  thereto) to constitute bad faith,
     willful misconduct or gross negligence on the part of Duncan.

7.   Indemnification.
     ----------------

     The Company agrees to indemnify and hold harmless Duncan and its affiliates
     (and their respective control persons, directors,  officers,  employees and
     agents) to the full  extent  lawful  against  any and all  claims,  losses,
     damages,  liabilities,  costs  and  expenses  as  incurred  (including  all
     reasonable fees and  disbursements of counsel and all reasonable travel and
     other out-of-pocket  expenses incurred in connection with investigation of,
     preparation  for and  defense of any  pending or  threatened  claim and any
     litigation or other proceeding  arising therefrom arising out of or related
     to any actual or proposed Financing or Duncan's Engagement hereunder in any
     way (a "Duncan  Claim"),  except that the Company shall not be obligated to
     indemnify,  hold harmless and/or pay any fees or expenses to any person for
     a Duncan  Claim if such  Duncan  Claim  arises  out of or is based upon any
     action  or  failure  to act by  Duncan,  that is found in a final  judicial
     determination (or settlement  tantamount  thereto) to constitute bad faith,
     willful misconduct or gross negligence on the part of Duncan.

     The Company will not,  without the prior written consent of Duncan,  settle
     any  litigation  relating  to  Duncan's  Engagement  hereunder  unless such
     settlement  includes  an express,  complete  and  unconditional  release of
     Duncan and its affiliates (and their respective control persons, directors,
     officers, employees and agents) with respect to all claims asserted in such
     litigation or relating to Duncan's Engagement hereunder, such release to be
     set forth in an instrument signed by all parties to such settlement.

<PAGE>

     Without in any way  diminishing the Company's  indemnification  obligations
     herein,  the Company shall at all times maintain insurance that is adequate
     and sufficient to cover any indemnification requirements hereunder.

8.   Term and Termination.
     ---------------------

     Initially, Duncan's Engagement hereunder may be terminated, with or without
     cause,  by either the Company or Duncan upon 30 days' prior written  notice
     to the other party. Commencing on the closing date of the initial financing
     that is  completed  by Duncan  for the  Company,  Duncan  will  become  the
     Company's  exclusive  investment  banker for a 12-month term,  whereby then
     Duncan's Engagement hereunder may be terminated,  with or without cause, by
     either the  Company or Duncan  upon 90 days'  prior  written  notice to the
     other party.  However,  no  termination  will affect  Duncan's right to (a)
     expense reimbursement under Section 5 herein, (b) receipt of payment of the
     fees pursuant to Section 4 herein, (c) the indemnification  contemplated by
     Section 7 herein,  and (d) right to any  accrued  but  unpaid  compensation
     expressly due under this Agreement.

9.   Governing Law; Jurisdiction; Waiver of Jury Trial; Optional Arbitration.
     ------------------------------------------------------------------------

     This  Agreement  will be  deemed  made in New York and will be  exclusively
     governed by the laws of the State of New York with  regards to the conflict
     of law principles contained therein.

     Any dispute arising hereunder, if not settled by mutual agreement, shall be
     settled by arbitration.  The  arbitration  shall be conducted in accordance
     with the rules then obtaining of the American Arbitration  Association by a
     single  arbitrator  appointed in  accordance  with such rules.  Arbitration
     shall take place in New York, New York.

     This Letter  Agreement will be deemed made in New York and will be governed
     by the laws of the State of New York with  regards to the  conflict  of law
     principles  contained  therein.  The  Company  irrevocably  submits  to the
     jurisdiction  of any court of the State of New York, for the purpose of any
     suit, action or other proceeding  arising out of this Letter Agreement,  or
     any of the agreements or transactions contemplated hereby, which is brought
     by or  against  the  Company.  Each  of the  Company  (and,  to the  extent
     permitted by law, on behalf of the Company's  equity holders and creditors)
     and Duncan hereby knowingly, voluntarily and irrevocably waive any right it
     may have to a trial by jury in respect of any claim based upon, arising out
     of or in  connection  with  this  Letter  Agreement  and  the  transactions
     contemplated  hereby  (including,  without  limitation,  any  Financing  or
     Acquisition).

10.  No Rights in Equityholders, Creditors.
     --------------------------------------

     This  Letter  Agreement  does not  create,  and will  not be  construed  as
     creating,  rights  enforceable  by any person or entity not a party hereto,
     except those  entitled  thereto by virtue of Section 7 herein.  The Company
     acknowledges  and  agrees  that  (a)  Duncan  will  act  as an  independent
     contractor and is being retained  solely to assist the Company in corporate
     finance  matters,  and that  Duncan is not  being  retained  to advise  the
     Company on, or to express any  opinion as to, the wisdom,  desirability  or
     prudence of consummating any Financing;  and (b) Duncan is not and will not
     be  construed as a fiduciary  of the Company or any  affiliate  thereof and
     will have no duties or  liabilities  to the equity  holders or creditors of
     the Company, and affiliates of the Company or any other person by virtue of
     this Letter Agreement and the retention of Duncan  hereunder,  all of which
     duties and liabilities are hereby expressly waived.  Neither equity holders
     nor  creditors of the Company are  intended  beneficiaries  hereunder.  The
     Company  confirms  that it will rely on its own  counsel,  accountants  and
     other similar expert advisors for legal, accounting,  tax and other similar
     advice.

<PAGE>

11.  Duncan; Other Activities.
     -------------------------

     It is understood and agreed that Duncan  affiliates may, from time to time,
     make a market in, have a long  position,  buy and sell or otherwise  affect
     transactions  for  customer  accounts  and for  their own  accounts  in the
     securities  of, or perform  investment  banking or other  services for, the
     Company  and  other  entities  which  are  or may  be  the  subject  of the
     Engagement  contemplated by this Letter Agreement.  This is to confirm that
     possible investors identified or contacted by Duncan could include entities
     in respect of which  Duncan may have  rendered or may in the future  render
     services.  Nothing  herein shall be  interpreted  as  permitting  Duncan to
     violate any insider  trading laws or any  provisions of the  Sarbanes-Oxley
     law. Notwithstanding anything to the contrary provided herein or elsewhere,
     Duncan  shall not  directly  and/or  indirectly  for itself,  and shall not
     recommend any person directly and/or indirectly, short or perform a similar
     transaction relating to the Company's stock.

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

     This Letter  Agreement  may not be  modified  or amended  except in writing
     executed in counterparts,  each of which will be deemed an original and all
     of which will constitute one and the same instrument.

<PAGE>

If the  foregoing  correctly  sets forth our  Agreement,  please so  indicate by
signing  below and  returning  an  executed  copy to Duncan  Capital  LLC.  This
Agreement   may  be  executed  by  the   exchange   by   facsimile/telecopy   or
e-mail/electronic  signature between the Parties of signed  counterparts of this
Agreement.  We look forward to working  with you and the rest of the  management
team in a long-term  relationship  that  assists the  Company in  achieving  its
business goals.

Sincerely,                                           ACCEPTED AND APPROVED:

DUNCAN CAPITAL LLC                                INYX, INC.

/s/Jay M. Green                                    /s/ Dr. Jack Kachkar MD
------------------------------                    ------------------------------
Name:    Jay M. Green                             Name:    Dr. Jack Kachkar MD
Title:   Managing Director                        Title:   Chairman
Date:    As of August 26, 2003                    Date:    As of August 26, 2003

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