Document:

FIRST
      AMENDMENT TO 

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    This
      First Amendment to Registration Rights Agreement (this “Amendment”),
      dated
      January 18, 2008, amends that certain Registration Rights Agreement, dated
      September 28, 2007 (the “Rights
      Agreement”),
      by
      and between MDwerks, Inc., a Delaware corporation (the “Company”),
      and
      Vicis Capital Master Fund,
      a
      series of the Vicis Capital Master Trust, a trust formed under the laws of
      the
      Cayman Islands
      (the
“Purchaser”).

     

    R
      E C
      I T A L S

     

    WHEREAS,
      the Company and the Purchaser have entered into a Securities Purchase Agreement
      dated the date hereof (the “Purchase
      Agreement”).

     

    WHEREAS,
      as
      an
      inducement for the Purchaser’s acquisition of the securities under the Purchase
      Agreement, the Company has agreed to amend the Rights Agreement to include
      as
      registrable securities under the Rights Agreement the shares of Common Stock
      of
      the Company issuable upon conversion or exercise of the securities acquired
      by
      the Purchaser under the Purchase Agreement.

     

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements set forth
      herein and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereby amend the
      Rights Agreement and otherwise agree as follows:

     

    1.  Amendments.
      

     

    (a)
      The
      first recital in the Rights Agreement is hereby amended and restated in it
      entirety to read as follows:

     

    “WHEREAS,
      in connection with the Securities Purchase Agreement, dated September 28, 2007,
      by and between the Company and Purchaser (the “September Purchase Agreement”),
      and the Securities Purchase Agreement, dated January 18, 2008, by and between
      the Company and the Purchaser (the “January Purchase Agreement”), the Company
      has agreed, upon the terms and subject to the conditions set forth in the
      September Purchase Agreement and the January Purchase Agreement, to issue and
      sell to the Purchaser (i) shares of the Company’s Series B Convertible Preferred
      Stock, par value $0.001 per share (the “Preferred Shares”), which will, among
      other things, be convertible into shares of the Company’s common stock , par
      value $0.001 per share (the “Common Stock”) (as converted, the “Conversion
      Shares”) in accordance with the terms of the Preferred Shares, and (ii) warrants
      (the “Warrants”) which will be exercisable to purchase a number of shares of
      Common Stock in accordance with the terms of the Warrants (as exercised
      collectively, the “Warrant Shares”).” 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)
      The
      following definitions contained in the Rights Agreement are hereby added or
      amended as follows (deletions
      have been stricken and additions are in bold):

     

    .
      . .
      .

     

    “Preferred
      Shares”
      shall have the meaning ascribed to it in the Preamble and shall include all
      shares of Series B Convertible Preferred Stock of the Company hereafter acquired
      by the Purchaser. 

     

    .
      . . .

     

    “Registrable
      Securities”
means
      (i) all
      shares
      of Common Stock issuable upon conversion of the Series
      B Convertible
      Preferred
      Stock of the Company held
      by a Holder,
      including any dividends paid thereon, and (ii) all
      shares
      of Common Stock issuable upon exercise of the Series
      F and Series G
      Warrants
held
      by a Holder.

     

    .
      . .
      .

     

    “Warrants”
means
      the Series
      F and Series G Warrants
      to
      purchase shares of Common Stock issued to the Purchaser pursuant to either
      the
September
      Purchase
      Agreement,
      the January Purchase Agreement and
      all
      Series F and Series G Warrants hereafter acquired by the Purchaser.

     

    .
      . . .

     

    2.  Ratification.
      Except
      as expressly amended by this Amendment, the terms and conditions of the Rights
      Agreement are hereby confirmed and shall remain in full force and effect without
      impairment or modification.

     

    3.  Conflict.
      In the
      event of any conflict between the Rights Agreement and this Amendment, the
      terms
      of this Amendment shall govern.

     

    4.  Certain
      Defined Terms.
      Capitalized terms used but not defined herein shall have the meanings given
      to
      such terms in the Rights Agreement.

     

    5.  Binding
      Effect.
      The
      parties acknowledge and agree that this Amendment complies with all of the
      applicable terms and conditions set forth in Section 7(f) of the Rights
      Agreement that are necessary to effect an amendment to the Rights Agreement
      that
      binds the parties and therefore, upon the execution and delivery hereof by
      the
      parties, this Amendment shall have such binding effect.

     

    6.  Governing
      Law.
      This
      Amendment shall be governed by, and construed in accordance with, the laws
      of
      the State of New York, without giving effect to applicable principles of
      conflicts of law that would require the application of the laws of any other
      jurisdiction.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    7.  Counterparts.
      This
      Amendment may be executed in any number of counterparts, each of which shall
      be
      deemed to be an original, and all of which taken together shall constitute
      one
      and the same instrument.

     

    IN
      WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
      by
      their respective authorized representatives as of the day and year first above
      written.

    
      	 	 	 
	 	MDWERKS,
              INC.
	 
 	 
 	 
 
	
            	By:  	/s/
              Howard B. Katz 
	 	
              
Name:
 Howard
              B. Katz
	 	Title: Chief
              Executive Officer

    

    

    
      	 	 	 
	 	PURCHASER:
	 	 
	 	VICIS CAPITAL
              MASTER FUND
	 	 	 
	 	 	By: Vicis
              Capital LLC
	 
 	 
 	 
 
	
            	By:  	/s/
              Keith W. Hughes
	 	
              
Name: Keith
              W. Hughes
	 	Title:  Chief
              Financial Officer

    

     

    
      
        
        

      

      
        3Unassociated Document

    Interview
      by Eric Yu for WallSt.net dated July 26, 2007

    Small
      cap voice (Audio Interview)

    

    1.
      For
      those not familiar with your company, please describe your company and its
      business model. 

     

    
      	
              1.

            	
              Benda
                is founded in 2001, and we are a Chin-based pharmaceutical company
                producing conventional and traditional Chinese medicines (TCMs) as
                well as
                Gendicine, the world’s 1st
                commercialized gene therapy medicine for treatment cancer.
                

            

    

    
      	
              2.

            	
              Benda
                owns and operates 5 plants, namely:

            

    

    
      	 	
              a)

            	
              Benda
                Ebei - which produces conventional and traditional Chinese
                Medicines;

            

    

    
      	 	
              b)

            	
              Jiangling
                Benda - which produces active pharmaceutical ingredients used in
                capsules,
                tablets and fluids;

            

    

    
      	 	
              c)

            	
              Yidu
                Benda - which produces bulk chemicals;

            

    

    
      	 	
              d)

            	
              Beijing
                Shusai - which produces Pharyngitis Killer Therapy and
                

            

    

    
      	 	
              e)

            	
              SiBiono
                - which produces Gendicine, a gen-based anti-cancer treatment.
                

            

    

    

    
      	
              3.

            	
              So
                you can see that Benda is focusing on the production of high margin
                medicines while securing a strong foothold in commercialized gene
                therapy
                products. Now we have approximately 580+ full-time
                employees

            

    

     

    2.
      Tell
      us about your background and the backgrounds of other key members of the
      management team. 

     

    
      	
              1.

            	
              Mr.
                Yiqing Wan (Chairman & CEO)- He is co-founder of our group; he has
                more than 20 years experience in pharmaceutical marketing and production;
                he received his master degree in Chemical Synthesis from Wuhan Chemical
                University; bachelor degree in Biological Engineering from Sanxia
                University. 

            

    

     

    
      	
              2.

            	
              Ms.
                Wei Xu (VP of Operations), - she is also the co-founder of our group;
                she
                has more that 25 years experience in pharmaceutical marketing; she
                received her Bachelor’s degree in General Medicines from Wuhan Tongji
                Medical University;

            

    

     

    
      	
              3.

            	
              Dr.
                Zhaohui Peng (VP of Operations) - he is the founder of SiBiono; he
                is the
                inventor of Gendicine; he has more than 15 years devoted to gene
                therapy
                research, development, industrialization and commercialization; he
                received the PhD in Biological Chemistry from Japan’s Chiba University;
                post doctorate at UCLA in Biological
                Chemistry.

            

    

     

    
      	
              4.

            	
              Eric
                Yu (CFO) - I have more than 13 years experience in public and corporate
                accounting and finance; I am the CPAs of Australia and Hong Kong;
                I
                received my Bachelor degree in Accountancy and Legal Studies from
                University of Wollongong, Australia.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.
      Let's
      talk about what the company achieved so far in 2007. 

     

    In
      terms of finance aspects

     

    Revenue
      for the six months ended June 30, 2007 was approximately $8.2 million, compared
      to approximately $7.6 million for the six months ended June 30, 2006 - an 8%
      increase.

     

    Gross
      profit for the six months ended June 30, 2007 was approximately $3.9 million,
      compared to approximately $3.5 million for the six months ended June 30, 2006
      -
      an 13% increase.

     

    Net
      loss for the six months ended June 30, 2007, was approximately $8.5 million,
      compared to net income of approximately $1.2 million for the six months ended
      June 30, 2006. Net income decreased for the three months ended June 30, 2007
      due
      to approximately $7.9 million in non-cash expenses related to the acquisition
      of
      SiBiono and a non-cash interest expense of approximately $1.0
      million. Excluding
      the non-cash expenses of approximately $8.9 million, the adjusted net income
      for
      the six months ended June 30, 2007 would have been approximately $0.4 million,
      compared to net income of approximately $1.2 million for the six months ended
      June 30, 2006. The decrease in net income was primarily a result of the
      temporary closing of Yidu Benda. 

    

    In
      terms of operation

    Benda
      Ebei - a new production line is added to the operation, an approximately
      additional amount $3 to $4 MM will contributed to the revenue. 

    Jiangling
      Benda was re-opened in August 10, 2007 and it will contribute about $3MM to
      $5
      MM to revenue.

    Yidu
      Benda is estimated re-opened in Oct, 2007 and will contribute about $1 MM to
      $2MM to revenue.

     

    4.
      What
      are the goals for the company for the rest of 2007?

     

    
      	
              1.

            	
              TCM
                and conventional medicine revenue growth from $15.9 MM in 2006 to
                $26 MM
                to $29 MM in 2007. 

            

    

     

    
      	
              2.

            	
              The
                addition of Gendicine expected to add $ 9 MM to $12 MM in revenue
                in 2007.
                

            

    

     

    
      	
              3.

            	
              Total
                revenue of 2007 would be ranging $35 MM to $40 MM which is 118% or
                151%
                higher than 2006.

            

    

     

    
      	
              4.

            	
              The
                net loss would be growth from $4 MM in 2007, however if we taken
                out the
                non-cash expenses $10 MM (1stH
                2007 was $8.9 MM, 2ndH
                would be $1.1 MM), the net income would be $6 MM which $3.7 MM or
                160%
                higher than the one in 2006, $2.3
                MM

            

    

     

    5.
      Covering the recent, news talk to me about;

     

    Record
      $3.8 M in Gendicine(R) Orders in One Day Sells Out All Available
      Product;

     

    Shenzhen
      SiBiono Gene Tech Co., Ltd, ("SiBiono"), founded in 1998, is a worldwide pioneer
      in gene therapy development. Its flagship product Gendicine® is the world's
      first and only approved and commercialized gene therapy medicine. In early
      April
      2007, Benda acquired the majority stake of SiBiono. Following the acquisition,
      Benda's management team immediately overhauled SiBiono's marketing and sales
      strategy and grew revenue to approximately $1.5 MM for the three months ended
      June 30, 2007, compared to approximately $0.6 MM for the three months ended
      March 31, 2007 -- a 128% increase.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Three
      months following the Benda's acquisition of SiBiono, the new sales team had
      successfully entered into resale relationships with over 30 leading Chinese
      pharmaceutical firms.

     

    Three
      months following Benda's acquisition of SiBiono, the new sales team had
      conducted 15 sessions, training over 2,000 doctors from 400 hospitals. Those
      doctors, with a full understanding of Gendicine®'s merits and application
      methods, can now recommend Gendicine® to their cancer patients. During the three
      months ended June 30, 2007, over 2,000 patients, including 130 foreigner
      patients, were treated with Gendicine®. By way of comparison, the average
      quarterly number of patients treated prior to Benda's acquisition was 515;
      the
      2,000 patients treated in the second quarter represents a 288% increase under
      Benda's leadership.

     

    --
      Total patients treated to date (since 2003): 8,700

     

    --
      Foreign patients treated to date (since 2003): 1,800

     

    Thus,
      because of the above foundation works, Benda achieved a great success in
      the
      national forum on "Gene Therapy for Tumors" on September 9, 2007. On that day,
      16,000 vials of purchase order was received and in the year 2006, about 8,000
      vials were sold. 

     

    Benda
      Appoints Mr. Charles Mo as Third Independent Director and Chairman of the Audit
      Committee

     

    Mr.
      Mo is an American certified public accountant (CPA), licensed to practice in
      the
      states of California and New Hampshire. He has over 30 years of experience
      in
      public and corporate accounting, finance, governance and operations. He is
      the
      founder and general manager of Charles Mo & Co., an executive search firm.
      He previously served as COO and CFO of Coca-Cola Shanghai and CFO of Nike China.
      Mr. Mo holds an MBA from California State University, Fullerton. He is fluent
      in
      English, Mandarin and Cantonese.

    

    With
      the joining of Mr. Mo to the Board, Benda meet SEC criteria to serve as the
      Board's "financial expert", and hoping to bring Benda to a higher level.

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