Document:

Exhibit 10.10

THESE  SECURITIES  HAVE NOT BEEN  REGISTERED  WITH THE  SECURITIES  AND EXCHANGE
COMMISSION  OR THE  SECURITIES  COMMISSION  OF ANY  STATE  IN  RELIANCE  UPON AN
EXEMPTION  FROM  REGISTRATION  UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT"), AND, ACCORDINGLY,  MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
TO AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
AN  AVAILABLE   EXEMPTION  FROM,  OR  IN  A  TRANSACTION  NOT  SUBJECT  TO,  THE
REGISTRATION   REQUIREMENTS  OF  THE  SECURITIES  ACT  AND  IN  ACCORDANCE  WITH
APPLICABLE  STATE  SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO
THE  TRANSFEROR  TO SUCH  EFFECT,  THE  SUBSTANCE  OF WHICH SHALL BE  REASONABLY
ACCEPTABLE TO THE COMPANY.  THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A
BONA FIDE MARGIN  ACCOUNT WITH A REGISTERED  BROKER-DEALER  OR OTHER LOAN WITH A
FINANCIAL INSTITUTION THAT IS AN "ACCREDITED INVESTOR" AS DEFINED IN RULE 501(a)
UNDER THE SECURITIES ACT.

                          COMMON STOCK PURCHASE WARRANT

                  To Purchase 385,529 Shares of Common Stock of

                           Health Sciences Group, Inc.

                  THIS COMMON STOCK PURCHASE  WARRANT  CERTIFIES that, for value
received,  Spencer Trask Ventures,  Inc. (the "HOLDER"),  is entitled,  upon the
terms and subject to the limitations on exercise and the conditions  hereinafter
set forth, at any time on or after August 8, 2003 (the "INITIAL  EXERCISE DATE")
and on or prior to the close of business on the fifth anniversary of the Initial
Exercise Date (the "TERMINATION DATE") but not thereafter,  to subscribe for and
purchase  from  Health  Sciences  Group,  Inc.,  a  Colorado   corporation  (the
"COMPANY"),  up to 385,529  shares (the "WARRANT  SHARES") of Common Stock,  par
value $.85 per share, of the Company (the "COMMON STOCK"). The purchase price of
one share of Common Stock (the  "EXERCISE  PRICE")  under this Warrant  shall be
$1.10  subject to  adjustment  hereunder.  The Exercise  Price and the number of
Warrant  Shares  for  which the  Warrant  is  exercisable  shall be  subject  to
adjustment as provided herein.  Capitalized terms used and not otherwise defined
herein  shall  have  the  meanings  set  forth  in  those  certain  Subscription
Agreement(s) (the "SUBSCRIPTION  AGREEMENT"),  dated August 8, 2003, between the
Company and the signatories thereto.

                  1. TITLE TO WARRANT. Prior to the Termination Date and subject
to compliance with  applicable laws and Section 7 of this Warrant,  this Warrant
and all rights hereunder are transferable, in whole or in part, at the office or
agency of the  Company by the Holder in person or by duly  authorized  attorney,
upon surrender of this Warrant  together with the Assignment Form annexed hereto
properly  endorsed.  The transferee shall sign an investment  letter in form and
substance reasonably satisfactory to the Company.

                  2.  AUTHORIZATION  OF SHARES.  The Company  covenants that all
Warrant  Shares  which may be issued upon the  exercise of the  purchase  rights
represented  by  this  Warrant  will,  upon  exercise  of  the  purchase  rights
represented by this Warrant, be duly authorized,  validly issued, fully paid and
nonassessable and free from all taxes, liens and charges in respect of the issue
thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

                  3. EXERCISE OF WARRANT.

                           (a) Except as provided in Section 4 herein,  exercise
         of the purchase  rights  represented by this Warrant may be made at any
         time or times on or after the  Initial  Exercise  Date and on or before
         the Termination Date by the surrender of this Warrant and the Notice of
         Exercise  Form  annexed  hereto  duly  executed,  at the  office of the
         Company  (or such  other  office  or agency  of the  Company  as it may
         designate by notice in writing to the registered  Holder at the address
         of such Holder  appearing on the books of the Company) and upon payment
         of the Exercise Price of the shares thereby  purchased by wire transfer
         or  cashier's  check  drawn  on a United  States  bank or by means of a
         cashless  exercise  pursuant  to  Section  3(c),  the  Holder  shall be

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         entitled to receive a certificate  for the number of Warrant  Shares so
         purchased.   Certificates  for  shares  purchased  hereunder  shall  be
         delivered to the Holder within three (3) Trading Days after the date on
         which this Warrant shall have been exercised as aforesaid. This Warrant
         shall  be  deemed  to have  been  exercised  and  such  certificate  or
         certificates  shall be deemed to have been  issued,  and  Holder or any
         other person so  designated to be named therein shall be deemed to have
         become a holder of record of such  shares for all  purposes,  as of the
         date the  Warrant has been  exercised  by payment to the Company of the
         Exercise Price and all taxes required to be paid by the Holder, if any,
         pursuant to Section 5 prior to the issuance of such  shares,  have been
         paid. If the Company  fails to deliver to the Holder a  certificate  or
         certificates  representing  the Warrant Shares pursuant to this Section
         3(a) by the third  Trading  Day after  the date of  exercise,  then the
         Holder will have the right to rescind such exercise.

                           (b) If this  Warrant  shall  have been  exercised  in
         part, the Company shall,  at the time of delivery of the certificate or
         certificates  representing  Warrant  Shares,  deliver  to  Holder a new
         Warrant  evidencing  the rights of Holder to purchase  the  unpurchased
         Warrant  Shares called for by this Warrant,  which new Warrant shall in
         all other respects be identical with this Warrant.

                           (c) This Warrant may also be  exercised,  at any time
         prior to the  Termination  Date,  by means of a "cashless  exercise" in
         which the Holder  shall be  entitled to receive a  certificate  for the
         number of Warrant  Shares  equal to the  quotient  obtained by dividing
         [(A-B) (X)] by (A), where:

                  (A) = the closing bid price on the trading day  preceding  the
         date of such election;

                  (B)     = the Exercise Price of the Warrants, as adjusted; and

                  (X)     = the number of Warrant Shares  issuable upon exercise
                          of the Warrants in  accordance  with the terms of this
                          Warrant.

                  4.      NO FRACTIONAL SHARES OR SCRIP. No fractional shares or
scrip  representing  fractional shares shall be issued upon the exercise of this
Warrant.  As to any fraction of a share which Holder would otherwise be entitled
to purchase  upon such  exercise,  the Company  shall pay a cash  adjustment  in
respect of such final fraction in an amount equal to such fraction multiplied by
the Exercise Price.

                  5.      CHARGES, TAXES AND EXPENSES.  Issuance of certificates
for Warrant  Shares shall be made without  charge to the Holder for any issue or
transfer  tax or other  incidental  expense in respect of the  issuance  of such
certificate,  all of which taxes and expenses shall be paid by the Company,  and
such  certificates  shall be issued in the name of the Holder or in such name or
names as may be  directed by the Holder;  PROVIDED,  HOWEVER,  that in the event
certificates  for Warrant  Shares are to be issued in a name other than the name
of the Holder,  this Warrant when  surrendered for exercise shall be accompanied
by the  Assignment  Form attached  hereto duly  executed by the Holder;  and the
Company may require, as a condition thereto,  the payment of a sum sufficient to
reimburse it for any transfer tax incidental thereto.

                  6.      CLOSING  OF  BOOKS.  The  Company  will not  close its
stockholder books or records in any manner which prevents the timely exercise of
this Warrant, pursuant to the terms hereof.

                  7.      TRANSFER, DIVISION AND COMBINATION.

                           (a)  Subject  to  compliance   with  any   applicable
         securities  laws and the  conditions  set forth in  Sections 1 and 7(e)
         hereof,  this Warrant and all rights  hereunder  are  transferable,  in
         whole or in part,  upon  surrender  of this  Warrant  at the  principal
         office  of the  Company,  together  with a written  assignment  of this
         Warrant  substantially in the form attached hereto duly executed by the
         Holder  or its  agent  or  attorney  and  funds  sufficient  to pay any
         transfer  taxes  payable  upon the making of such  transfer.  Upon such
         surrender and, if required, such payment, the Company shall execute and
         deliver  a new  Warrant  or  Warrants  in the name of the  assignee  or
         assignees and in the  denomination or  denominations  specified in such
         instrument of assignment, and shall issue to the assignor a new Warrant
         evidencing  the  portion  of this  Warrant  not so  assigned,  and this

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         Warrant shall promptly be cancelled.  A Warrant,  if properly assigned,
         may be  exercised  by a new holder for the  purchase of Warrant  Shares
         without having a new Warrant issued.

                           (b) This  Warrant  may be  divided or  combined  with
         other Warrants upon presentation  hereof at the aforesaid office of the
         Company,  together  with a  written  notice  specifying  the  names and
         denominations  in which new  Warrants  are to be issued,  signed by the
         Holder or its agent or  attorney.  Subject to  compliance  with Section
         7(a),  as to any  transfer  which may be involved  in such  division or
         combination,  the  Company  shall  execute and deliver a new Warrant or
         Warrants  in  exchange  for the  Warrant or  Warrants  to be divided or
         combined in accordance with such notice.

                           (c) The Company shall  prepare,  issue and deliver at
         its own expense (other than transfer taxes) the new Warrant or Warrants
         under this Section 7.

                           (d) The Company agrees to maintain,  at its aforesaid
         office,  books for the registration and the registration of transfer of
         the Warrants.

                           (e) If, at the time of the  surrender of this Warrant
         in connection  with any transfer of this Warrant,  the transfer of this
         Warrant shall not be registered  pursuant to an effective  registration
         statement  under  the  Securities  Act  and  under   applicable   state
         securities or blue sky laws, the Company may require, as a condition of
         allowing  such  transfer  (i) that the  Holder  or  transferee  of this
         Warrant,  as the case may be, furnish to the Company a written  opinion
         of  counsel  (which  opinion  shall be in  form,  substance  and  scope
         customary  for opinions of counsel in comparable  transactions)  to the
         effect that such  transfer may be made without  registration  under the
         Securities Act and under  applicable state securities or blue sky laws,
         (ii) that the holder or  transferee  execute and deliver to the Company
         an investment  letter in form and  substance  acceptable to the Company
         and (iii) that the transferee be an "accredited investor" as defined in
         Rule 501(a) promulgated under the Securities Act.

                  8. NO RIGHTS AS SHAREHOLDER UNTIL EXERCISE.  This Warrant does
not entitle the Holder to any voting rights or other rights as a shareholder  of
the Company prior to the exercise hereof. Upon the surrender of this Warrant and
the  payment  of the  aggregate  Exercise  Price  (or  by  means  of a  cashless
exercise),  the Warrant Shares so purchased  shall be and be deemed to be issued
to such Holder as the record owner of such shares as of the close of business on
the later of the date of such surrender or payment.

                  9. LOSS,  THEFT,  DESTRUCTION  OR MUTILATION  OF WARRANT.  The
Company  covenants  that upon  receipt  by the  Company of  evidence  reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
or any stock  certificate  relating to the Warrant Shares,  and in case of loss,
theft or  destruction,  of indemnity or security  reasonably  satisfactory to it
(which, in the case of the Warrant,  shall not include the posting of any bond),
and upon surrender and  cancellation  of such Warrant or stock  certificate,  if
mutilated,  the Company will make and deliver a new Warrant or stock certificate
of like  tenor and dated as of such  cancellation,  in lieu of such  Warrant  or
stock certificate.

                  10.  SATURDAYS,   SUNDAYS,  HOLIDAYS,  ETC.  If  the  last  or
appointed  day for the  taking  of any  action  or the  expiration  of any right
required or granted herein shall be a Saturday,  Sunday or a legal holiday, then
such action may be taken or such right may be exercised  on the next  succeeding
day not a Saturday, Sunday or legal holiday.

                  11.  ADJUSTMENTS  OF  EXERCISE  PRICE AND  NUMBER  OF  WARRANT
SHARES.

                  (a) The number  and kind of  securities  purchasable  upon the
exercise of this Warrant and the Exercise  Price shall be subject to  adjustment
from  time to time  upon  the  happening  of any of the  following.  In case the
Company  shall  (i)  pay a  dividend  in  shares  of  Common  Stock  or  make  a
distribution  in shares of Common  Stock to  holders of its  outstanding  Common
Stock,  (ii)  subdivide  its  outstanding  shares of Common Stock into a greater
number of shares,  (iii) combine its  outstanding  shares of Common Stock into a
smaller  number  of  shares of Common  Stock,  or (iv)  issue any  shares of its
capital  stock in a  reclassification  of the Common  Stock,  then the number of

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Warrant  Shares  purchasable  upon  exercise of this Warrant  immediately  prior
thereto  shall be adjusted  so that the Holder  shall be entitled to receive the
kind and number of Warrant  Shares or other  securities  of the Company which it
would  have  owned or have  been  entitled  to  receive  had such  Warrant  been
exercised in advance  thereof.  Upon each such adjustment of the kind and number
of Warrant  Shares or other  securities  of the  Company  which are  purchasable
hereunder,  the Holder  shall  thereafter  be entitled to purchase the number of
Warrant Shares or other securities resulting from such adjustment at an Exercise
Price per Warrant Share or other security  obtained by multiplying  the Exercise
Price in effect  immediately  prior to such  adjustment by the number of Warrant
Shares  purchasable  pursuant  hereto  immediately  prior to such adjustment and
dividing  by the number of Warrant  Shares or other  securities  of the  Company
resulting from such  adjustment.  An adjustment  made pursuant to this paragraph
shall  become  effective  immediately  after the  effective  date of such  event
retroactive to the record date, if any, for such event.

                  (b) EXERCISE PRICE ADJUSTMENT.  (i) If the Company at any time
while this  Warrant is  outstanding  shall  issue,  or be deemed to have issued,
Additional Shares of Common Stock (as hereinafter defined) without consideration
or for  consideration  per share of Common  Stock less than the then  applicable
Exercise  Price (the  "Dilutive  Price")  (a  "Triggering  Issuance")  in effect
immediately  prior to such  issuance,  then forthwith upon the occurrence of any
such event (the  "Dilutive  Event") the Exercise  Price shall be reduced so that
the Exercise Price in effect immediately following the Dilutive Event will equal
the Dilutive  Price.  Upon each adjustment of the Exercise Price pursuant to the
provisions of this Section 11(b), the number of Warrant Shares issuable upon the
exercise  of this  Warrant  shall be  adjusted  to the  nearest  full  amount by
multiplying a number equal to the Exercise Price in effect  immediately prior to
such  adjustment by the number of Warrant  Shares  issuable upon exercise of the
Warrants  immediately  prior to such  adjustment  and  dividing  the  product so
obtained by the adjusted Exercise Price.

                  (c)      As used herein:

                           "Additional  Shares of Common  Stock"  shall mean all
                           shares of Common  Stock issued or deemed to be issued
                           by the Company after the date hereof which  represent
                           a  Triggering  Issuance.  If the  Company  issues any
                           Options or  Convertible  Securities  (as  hereinafter
                           defined),  the  maximum  number  of  shares of Common
                           Stock  issuable  thereunder,  shall be  deemed  to be
                           Additional  Shares of Common  Stock  issued as of the
                           time of such issue, if the consideration per share of
                           such   Additional   Shares   of   Common   Stock  (as
                           hereinafter  determined) is less than then-applicable
                           Exercise  Price,  until such time as such  Options or
                           Convertible   Securities   shall   terminate   or  be
                           exercised or converted into Common Stock,  upon which
                           time the  number of shares of Common  Stock  actually
                           thereupon  issued  shall be deemed  to be  Additional
                           Shares of Common  Stock.  The Company shall be deemed
                           to have issued the maximum number of shares of Common
                           Stock   potentially   underlying   any   Options   or
                           Convertible    Securities.     Notwithstanding    the
                           foregoing,  no issuance or deemed issuance nor Common
                           Stock or options or warrants to purchase Common Stock
                           issued to (i) officers,  directors or employees of or
                           consultants   to   the   Company   pursuant   to  any
                           compensation  agreement,  plan or  arrangement or the
                           issuance  of Common  Stock upon the  exercise  of any
                           such options or warrants,  provided  such  securities
                           were issued prior to the date hereof or pursuant to a
                           stock  option plan that was  approved by the board of
                           directors (ii) upon  conversion of the Company Series
                           A  Convertible   Preferred  Stock  or  conversion  of
                           existing convertible securities outstanding as of the
                           date  hereof;  (iii)  upon  exercise  of  outstanding
                           warrants  existing  as of the  date  hereof  or  this
                           warrant;  and  (iv)  in  connection  with a  business
                           acquisition  where the  stockholders  of the  Company
                           prior  to  such  acquisition  own  50% or more of the
                           Common   Stock   of  the   Company   following   such
                           acquisition,  or to an  institution or bank lender in
                           connection  with  a  loan  transaction  or  equipment
                           lease,

                           shall be deemed the issuance of Additional Shares of
                           Common Stock.

                           "Options"  shall mean rights,  options or warrants to
                           subscribe for,  purchase or otherwise  acquire either
                           Common Stock or Convertible Securities.

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                           "Convertible  Securities" shall mean any evidences of
                           indebtedness,  shares  (other than  Common  Stock) or
                           other securities  directly or indirectly  convertible
                           into or exchangeable for Common Stock.

                           With respect to Options and  Convertible  Securities,
                           "Consideration"  per  share of  Additional  Shares of
                           Common  Stock shall be  determined  by adding (x) the
                           aggregate consideration received upon issuance of the
                           Options  or  Convertible  Securities  divided  by the
                           number  of shares  receivable  upon the  exercise  or
                           conversion  thereof  and  (y)  the  minimum  possible
                           consideration  per share  received per share upon the
                           exercise,  conversion  or exchange of such Options or
                           Convertible Securities for shares of Common Stock.

                  12. REORGANIZATION, RECLASSIFICATION, MERGER, CONSOLIDATION OR
DISPOSITION  OF  ASSETS.  In case the  Company  shall  reorganize  its  capital,
reclassify  its  capital  stock,  consolidate  or  merge  with or  into  another
corporation  (where the Company is not the surviving  corporation or where there
is a change in or distribution with respect to the Common Stock of the Company),
or sell, transfer or otherwise dispose of all or substantially all its property,
assets or business  to another  corporation  and,  pursuant to the terms of such
reorganization,   reclassification,  merger,  consolidation  or  disposition  of
assets, shares of common stock of the successor or acquiring corporation, or any
cash,  shares of stock or other securities or property of any nature  whatsoever
(including  warrants or other subscription or purchase rights) in addition to or
in lieu of  common  stock of the  successor  or  acquiring  corporation  ("OTHER
PROPERTY"),  are to be received by or distributed to the holders of Common Stock
of the Company,  then the Holder shall have the right thereafter to receive,  at
the option of the Holder, upon exercise of this Warrant, the number of shares of
Common Stock of the successor or acquiring  corporation or of the Company, if it
is the surviving corporation,  and Other Property receivable upon or as a result
of such reorganization,  reclassification,  merger, consolidation or disposition
of  assets by a Holder of the  number of shares of Common  Stock for which  this
Warrant is  exercisable  immediately  prior to such  event.  In case of any such
reorganization,   reclassification,  merger,  consolidation  or  disposition  of
assets, the successor or acquiring corporation (if other than the Company) shall
expressly  assume the due and punctual  observance  and  performance of each and
every covenant and condition of this Warrant to be performed and observed by the
Company  and all the  obligations  and  liabilities  hereunder,  subject to such
modifications  as may be deemed  appropriate  (as  determined  in good  faith by
resolution  of the Board of  Directors  of the  Company) in order to provide for
adjustments of Warrant Shares for which this Warrant is exercisable  which shall
be as nearly  equivalent as practicable to the adjustments  provided for in this
Section 12. For purposes of this Section 12,  "common  stock of the successor or
acquiring  corporation"  shall  include stock of such  corporation  of any class
which is not  preferred  as to dividends or assets over any other class of stock
of such  corporation  and which is not  subject  to  redemption  and shall  also
include any evidences of indebtedness, shares of stock or other securities which
are convertible into or exchangeable for any such stock,  either  immediately or
upon the arrival of a specified  date or the happening of a specified  event and
any warrants or other rights to  subscribe  for or purchase any such stock.  The
foregoing  provisions  of this Section 12 shall  similarly  apply to  successive
reorganizations,  reclassifications,  mergers,  consolidations or disposition of
assets.

                  13.  VOLUNTARY  ADJUSTMENT BY THE COMPANY.  The Company may at
any time during the term of this Warrant reduce the then current  Exercise Price
to any  amount  and for any period of time  deemed  appropriate  by the Board of
Directors of the Company.

                  14.  NOTICE OF  ADJUSTMENT.  Whenever  the  number of  Warrant
Shares or number or kind of securities or other  property  purchasable  upon the
exercise of this Warrant or the Exercise Price is adjusted,  as herein provided,
the Company  shall give notice  thereof to the Holder,  which notice shall state
the number of Warrant Shares (and other securities or property) purchasable upon
the exercise of this Warrant and the Exercise  Price of such Warrant Shares (and
other  securities  or property)  after such  adjustment,  setting  forth a brief
statement  of  the  facts  requiring  such  adjustment  and  setting  forth  the
computation by which such adjustment was made.

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                  15. NOTICE OF CORPORATE ACTION. If at any time:

                           (a) the Company shall take a record of the holders of
         its  Common  Stock  for the  purpose  of  entitling  them to  receive a
         dividend  or  other  distribution,  or any  right to  subscribe  for or
         purchase any evidences of its indebtedness,  any shares of stock of any
         class or any other  securities  or  property,  or to receive  any other
         right, or

                           (b) there shall be any capital  reorganization of the
         Company,  any reclassification or recapitalization of the capital stock
         of the Company or any  consolidation  or merger of the Company with, or
         any sale, transfer or other disposition of all or substantially all the
         property, assets or business of the Company to, another corporation or,

                           (c)  there  shall  be  a  voluntary  or   involuntary
         dissolution, liquidation or winding up of the Company;

then,  in any one or more of such  cases (but not in such cases if the rights of
the Holder or holders of Common Stock will not be materially  affected  thereby,
as for  example  in the case of a merger to effect a change  of  domicile),  the
Company shall give to Holder (i) at least 20 days' prior  written  notice of the
date on which a record date shall be selected for such dividend, distribution or
right or for determining  rights to vote in respect of any such  reorganization,
reclassification,    merger,   consolidation,   sale,   transfer,   disposition,
liquidation  or  winding  up,  and (ii) in the case of any such  reorganization,
reclassification,    merger,   consolidation,   sale,   transfer,   disposition,
dissolution,  liquidation  or winding up, at least 20 days' prior written notice
of the date when the same shall take place.  Such notice in accordance  with the
foregoing  clause also shall specify (i) the date on which any such record is to
be taken for the purpose of such dividend,  distribution  or right,  the date on
which the  holders  of Common  Stock  shall be  entitled  to any such  dividend,
distribution or right, and the amount and character  thereof,  and (ii) the date
on which any such reorganization, reclassification, merger, consolidation, sale,
transfer, disposition,  dissolution,  liquidation or winding up is to take place
and the time, if any such time is to be fixed, as of which the holders of Common
Stock shall be entitled to exchange their Warrant Shares for securities or other
property deliverable upon such disposition,  dissolution, liquidation or winding
up. Each such written notice shall be sufficiently  given if addressed to Holder
at the  last  address  of  Holder  appearing  on the  books of the  Company  and
delivered in accordance with Section 18(d).

                  16. AUTHORIZED  SHARES.  The Company covenants that during the
period the Warrant is  outstanding,  it will  reserve  from its  authorized  and
unissued Common Stock a sufficient  number of shares to provide for the issuance
of the  Warrant  Shares  upon the  exercise of any  purchase  rights  under this
Warrant.  The Company further  covenants that its issuance of this Warrant shall
constitute  full  authority  to its  officers  who are charged  with the duty of
executing stock certificates to execute and issue the necessary certificates for
the Warrant Shares upon the exercise of the purchase  rights under this Warrant.
The Company will take all such  reasonable  action as may be necessary to assure
that such Warrant Shares may be issued as provided  herein without  violation of
any applicable law or regulation,  or of any  requirements of the trading market
upon which the Common Stock may be listed.

                           Except and to the extent as waived or consented to by
the Holder, the Company shall not by any action, including,  without limitation,
amending  its  certificate  of  incorporation  or  through  any  reorganization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or  performance  of any of the terms of this  Warrant,  but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or  appropriate to protect the rights of Holder
as set forth in this Warrant against impairment. Without limiting the generality
of the foregoing, the Company will (a) not increase the par value of any Warrant
Shares above the amount payable therefor upon such exercise immediately prior to
such  increase  in par value,  (b) take all such action as may be  necessary  or
appropriate  in order that the Company may validly and legally  issue fully paid
and nonassessable  Warrant Shares upon the exercise of this Warrant, and (c) use
commercially reasonable efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having  jurisdiction  thereof as may be
necessary to enable the Company to perform its obligations under this Warrant.

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                           Before  taking any action  which  would  result in an
adjustment in the number of Warrant Shares for which this Warrant is exercisable
or in the Exercise Price,  the Company shall obtain all such  authorizations  or
exemptions  thereof,  or consents  thereto,  as may be necessary from any public
regulatory body or bodies having jurisdiction thereof.

                  17. [INTENTIONALLY OMITTED]

                  18.      MISCELLANEOUS.

                           (a)  JURISDICTION.  This Warrant  shall  constitute a
         contract under the laws of New York,  without regard to its conflict of
         law, principles or rules.

                           (b)  RESTRICTIONS.  The Holder  acknowledges that the
         Warrant  Shares  acquired  upon the  exercise of this  Warrant,  if not
         registered,  will have  restrictions  upon resale  imposed by state and
         federal securities laws.

                           (c) NONWAIVER  AND EXPENSES.  No course of dealing or
         any delay or failure to  exercise  any right  hereunder  on the part of
         Holder shall  operate as a waiver of such right or otherwise  prejudice
         Holder's  rights,  powers  or  remedies,   notwithstanding  all  rights
         hereunder  terminate on the Termination  Date. If the Company willfully
         and knowingly fails to comply with any provision of this Warrant, which
         results in any material damages to the Holder, the Company shall pay to
         Holder  such  amounts  as shall be  sufficient  to cover  any costs and
         expenses  including,  but not limited to,  reasonable  attorneys' fees,
         including  those  of  appellate  proceedings,  incurred  by  Holder  in
         collecting  any amounts due pursuant  hereto or in otherwise  enforcing
         any of its rights, powers or remedies hereunder.

                           (d) NOTICES.  Any notice,  request or other  document
         required or  permitted  to be given or  delivered  to the Holder by the
         Company shall be delivered in accordance with the notice  provisions of
         the Subscription Agreement.

                           (e) LIMITATION OF LIABILITY.  No provision hereof, in
         the  absence  of any  affirmative  action by Holder  to  exercise  this
         Warrant or purchase  Warrant Shares,  and no enumeration  herein of the
         rights or  privileges  of Holder,  shall give rise to any  liability of
         Holder for the purchase  price of any Common Stock or as a  stockholder
         of the Company, whether such liability is asserted by the Company or by
         creditors of the Company.

                           (f) REMEDIES.  Holder,  in addition to being entitled
         to exercise all rights granted by law,  including  recovery of damages,
         will be  entitled  to  specific  performance  of its rights  under this
         Warrant. The Company agrees that monetary damages would not be adequate
         compensation  for any loss  incurred by reason of a breach by it of the
         provisions  of this  Warrant and hereby  agrees to waive the defense in
         any  action  for  specific  performance  that a remedy  at law would be
         adequate.

                           (g)  SUCCESSORS  AND ASSIGNS.  Subject to  applicable
         securities laws, this Warrant and the rights and obligations  evidenced
         hereby shall inure to the benefit of and be binding upon the successors
         of the Company and the successors and permitted assigns of Holder.  The
         provisions  of this  Warrant are  intended to be for the benefit of all
         Holders from time to time of this Warrant and shall be  enforceable  by
         any such Holder or holder of Warrant Shares.

                           (h)  AMENDMENT.  This  Warrant  may  be  modified  or
         amended or the provisions hereof waived with the written consent of the
         Company and the Holder.

                           (i) SEVERABILITY.  Wherever possible,  each provision
         of this Warrant shall be  interpreted in such manner as to be effective
         and valid under  applicable  law, but if any  provision of this Warrant
         shall be prohibited by or invalid under  applicable law, such provision
         shall be ineffective  to the extent of such  prohibition or invalidity,
         without  invalidating the remainder of such provisions or the remaining
         provisions of this Warrant.

                                       7
<PAGE>

                           (j)  HEADINGS.  The headings used in this Warrant are
         for the  convenience  of reference only and shall not, for any purpose,
         be deemed a part of this Warrant.

                              ********************

                                       8
<PAGE>

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

Dated:  _____________, 2003
                                    HEALTH SCIENCES GROUP, INC.

                                    By:_______________________________________
                                       Name:
                                       Title:

                                       9
<PAGE>

To:      Health Sciences Group, Inc.

                  (4) The undersigned hereby elects to purchase ________ Warrant
Shares of Health  Sciences  Group,  Inc.  pursuant to the terms of the  attached
Warrant,  and tenders herewith  payment of the exercise price in full,  together
with all applicable transfer taxes, if any.

                  (5) Payment shall take the form of (check applicable box):

                      [ ]  in lawful money of the United States; or

                      [ ]  the  cancellation of such number of Warrant Shares as
                           is  necessary,  in  accordance  with the  formula set
                           forth in  subsection  3(c),  to exercise this Warrant
                           with respect to the maximum  number of Warrant Shares
                           purchasable   pursuant  to  the   cashless   exercise
                           procedure set forth in subsection 3(c).

                  (6) Please issue a certificate  or  certificates  representing
said Warrant  Shares in the name of the  undersigned or in such other name as is
specified below:

                           Name:

                           Address:
                                    ----------------------------------------

                                    ----------------------------------------

                                    ----------------------------------------
                           SS or Tax
                           ID number:
                                    ----------------------------------------

The Warrant Shares shall be delivered to the following:

                           ----------------------------------------

                           ----------------------------------------

                           ----------------------------------------

                                              [Warrant holder]

                                              By:
                                                 ------------------------------
                                                  Name:
                                                  Title:

                                              Dated:
                                                   ----------------------------

<PAGE>

                                 ASSIGNMENT FORM

                        (To assign the foregoing warrant,
                      execute this form and supply required
                                  information.
                  Do not use this form to exercise thewarrant.)

FOR VALUE RECEIVED,  the foregoing  Warrant and all rights evidenced thereby are
hereby assigned to

_______________________________________________ whose address is

---------------------------------------------------------------.

---------------------------------------------------------------

                                        Dated:  ______________, _______

                  Holder's Signature: _____________________________

                  Holder's Address:   _____________________________

                                      -----------------------------

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this  Assignment Form must correspond with the name as it
appears on the face of the Warrant,  without  alteration or  enlargement  or any
change whatsoever,  and must be guaranteed by a bank or trust company.  Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.Exhibit 10.11

                              CONSULTING AGREEMENT

         This  agreement  (the  "Agreement")  is entered into as of July 7, 2003
between Health Sciences Group, Inc., a Colorado  corporation (the "Company") and
Spencer Trask Ventures, Inc., a Delaware corporation ("Consultant").

                                    RECITALS

         WHEREAS,  Consultant  represents that it will endeavor to introduce the
Company  to one or more  Targets  (as  defined  in  Section 2 below)  who may be
interested in engaging in a business  combination or financing  arrangement with
the  Company  which may include a merger or purchase of some or all of the stock
or assets of the Company by a Target or a Target by the Company,  or a licensing
agreement, joint venture, distribution agreement or product purchase arrangement
involving the Company and a Target (an "M&A  Transaction");  or an investment in
the securities of the Company by a Target (a "Financing Transaction");

         WHEREAS,  the Company  desires to engage the services of  Consultant to
provide  an  introduction  to such  Targets  in  accordance  with the  terms and
conditions set forth in this Agreement.

                                    AGREEMENT

         NOW,  THEREFORE,  in consideration of the premises and mutual covenants
hereinafter contained, and for other good and valuable consideration the receipt
and sufficiency of which are hereby acknowledged, the parties agree as follows:

         1. The Company engages Consultant as one of the Company's non-exclusive
consultants,  to  find  Targets  interested  in  effecting  an M&A or  Financing
Transaction. Consultant will endeavor to introduce the Company to such Targets.

         2. For the purposes of this Agreement, "Targets" shall mean individuals
or entities introduced to the Company by Consultant.

         3. In the event of a consummated M&A Transaction, the Company shall pay
to Consultant a cash fee as follows:

                  (a) 7% of the  first  $1,000,000  or  portion  thereof  of the
                  consideration paid in such transaction; plus

                  (b)  6%  of  the   next   $1,000,000   or   portion   thereof
                  of the consideration paid in such transaction; plus

                  (c)  5% of the  next  $5,000,000  or  portion  thereof  of the
                  consideration paid in such transaction; plus

                  (d)  4% of the  next  $1,000,000  or  portion  thereof  of the
                  consideration paid in such transaction; plus

                  (e)  3% of the  next  $1,000,000  or  portion  thereof  of the
                  consideration paid in such transaction; plus

                  (f)  2.5% of any  consideration  paid in such  transaction  in
                  excess of $9,000,000.

         "Consideration paid in such transaction" for purposes of this Agreement
shall mean the value of (i) all  consideration  paid to the  Company or a Target
and/or the  stockholders  of the Company or a Target in  connection  with an M&A
Transaction, including cash, securities or other consideration exchanged or paid
at closing;  assumption of debt;  and any deferred  payments  including  without
limitation notes,  contingent payments,  license fees or royalty payments;  (ii)
amounts  paid  or  payable  under  consulting,   employment,   supply,  service,
distribution,   licensing,  lease  or  agreements  not  to  compete  or  similar
arrangements  (including  such payments to  management)  and (iii) the aggregate
amount of any  investment  made by the Company and a Target in a joint  venture.
Payment of the applicable fee set forth above will be made at the closing of the
related M&A Transaction.  The fee shall be payable in cash and any consideration
other than cash which is paid in the consummated M&A Transaction shall be valued
at its fair market value.

                                       1
<PAGE>

         In  the  event  that   "Consideration  paid  in  such  transaction"  in
connection with a an M&A Transaction or other business  arrangement  between the
Company and a Target  includes  (i)  licensing  of the  Company's  or a Target's
intellectual  property or technology and agreement by the Company or a Target to
make future royalty payments which are variable in amount depending on sales, or
(ii)  purchase of the Company's  products by a Target or a Target's  products by
the Company,  the Company shall pay to Consultant,  promptly upon receipt of all
such royalty or product purchase payments, a cash fee of 5% of said payments for
a period of five (5)  years  provided  such  payment  does not  result in double
payment.

         4. (a) In the event of a consummated Financing  Transaction,  including
the financing  contemplated  by the term sheet annexed  hereto as Exhibit A (the
"Term  Sheet"),  the Company  shall (i) pay to Consultant a cash fee of 10% (ten
percent) of the gross amount  invested in the Company,  (ii) issue to Consultant
five-year  warrants with cashless  exercise and weighted  average  anti-dilution
protection  provisions  to  purchase  the same type of  securities  as issued to
investors at the price paid by investors in such  Financing  Transaction,  which
warrants will have an aggregate  exercise price equal to 20% (twenty percent) of
the gross amount invested in the Company;  provided,  however,  that if a Target
functions  solely as an  intermediary  in  arranging  a  Financing  Transaction,
including but not limited to serving as an underwriter  of a public  offering of
securities  or  placement  agent  for a  private  offering  of  securities,  the
applicable  fee to  Consultant  will be 2% of the gross  amount  invested in the
Company  in  such  Financing  Transaction.  In  connection  with  the  Financing
Transaction  contemplated  by the Term  Sheet,  the  Company  will not accept an
investment from any prospective  investor that was not introduced to the Company
by the Consultant,  without the Consultant's  prior written consent.  Payment of
the  applicable  cash fee and issuance of the  applicable  warrants as described
will be made at the closing of the related  Financing  Transaction and (iii) pay
to the  Consultant  a  nonaccountable  expense  allowance  relating  to expenses
incurred  by  the  Consultant  in  connection  with  the  Financing  Transaction
(including,  without  limitation,  travel  and  related  expenses  and  fees and
expenses of legal,  accounting  and other advisers to the  Consultant)  equal to
three percent of the gross amount invested.  A good faith advance of $ 10,000 to
cover up front  expenses to be incurred by the  Consultant  has been paid by the
Company.  Such amount  shall be credited at the first  closing of the  Financing
Transaction against the 3% nonaccountable expense allowance.

               (b)   In   addition  to  any  fees  payable  by  the  Company  to
Consultant  hereunder,  the Company shall,  whether or not an M&A Transaction or
Financing  Transaction is consummated,  reimburse  Consultant,  in cash and on a
monthly basis, for its travel and other reasonable  out-of-pocket expenses up to
an aggregate of $5,000 over the term of the  Agreement  (including  all fees and
disbursements  of  counsel,  consultants  or other  advisors  to be  retained by
Consultant  with the Company's  consent,  plus any sales,  use or similar taxes,
including  additions to such taxes,  if any),  incurred in  connection  with, or
arising out of Consultant's activities under or contemplated by, this Agreement.
Such  reimbursements  shall be made  promptly  upon  submission by Consultant of
statements therefor. Any expenses in excess of $5,000, in the aggregate over the
term of the Agreement, must be approved in advance by the Company.

         5. In the event that any fees or warrants due  Consultant  are not paid
or issued when due, the Company shall also be liable to Consultant  for interest
on the value of the  compensation  due at the annual rate of three  percent over
the prime rate, accruing on a daily basis from the date of closing,  plus all of
Consultant's reasonable legal fees and expenses in connection with collection of
said compensation.

         6. This Agreement shall remain in full force and effect for a period of
twelve (12) months after the date hereof; provided, however, that (a) Consultant
shall be entitled to receive the full fee and expenses set forth in paragraphs 3
or 4 hereof in the event  discussions  are held with a Target during the term of
this Agreement and an M&A  Transaction  or Financing  Transaction is consummated
with or  involving  such  Target  within two years from the  expiration  of this
Agreement  and (b) the  provisions  of  paragraphs  3, 4, 5, 8, 9 and 10 of this
Agreement shall remain in full force and effect.

         7. Except as provided  herein,  the Company shall not be liable for any
retainers,  costs,  expenses or other  charges  incurred by  Consultant or third
parties at the request of  Consultant  unless the Company  has  authorized  such
costs or expenses in writing.

         8. (a)Consultant is an independent contractor and financial advisor and
is not an employee or agent of the  Company  and it shall have no  authority  to
bind the Company in any manner whatsoever.  Nothing herein shall be construed to
appoint the Consultant as placement  agent or underwriter in connection with any
of the Company's  activities,  including,  without  limitation,  the transaction
contemplated by the Term Sheet.

                                       2
<PAGE>

                  (b)The Company  acknowledges  that Consultant has not done any
due  diligence  with  respect  to  any  Target  and  that  Consultant  makes  no
representations  whatsoever  with  respect  to  any  Target  (including  without
limitation its financial  condition or its ability to perform any obligations to
which  it is or may  become  bound),  and  the  Company  expressly  agrees  that
Consultant shall have no liability whatsoever in connection with any transaction
it may enter into with a Target.

         9. The  Company  agrees  to  indemnify  and hold  the  Consultant,  its
affiliates,  control persons, officers, employees and agents (collectively,  the
"Indemnified  Persons") harmless from and against all losses,  claims,  damages,
liabilities, costs or expenses (including reasonable attorneys' and accountants'
fees) joint and  several,  arising  out of the  performance  of this  Agreement,
whether or not the Consultant is a party to such dispute.  This indemnity  shall
not apply,  however,  where a court of competent  jurisdiction  has made a final
determination  that the  Consultant  engaged  in gross  recklessness  or willful
misconduct in the performance of its services hereunder which directly gave rise
to the loss, claim,  damage,  liability,  cost or expense sought to be recovered
hereunder (but pending any such final  determination,  the  indemnification  and
reimbursement  provision  of this  Agreement  shall apply and the Company  shall
perform its obligations hereunder to reimburse the Consultant for its expenses).

         If for any reason the foregoing  indemnification  is unavailable to the
Consultant or such other Indemnified Person or insufficient to hold it harmless,
then  the  Company  shall  contribute  to the  amount  paid  or  payable  by the
Consultant  or such other  Indemnified  Person as a result of such loss,  claim,
damage,  or liability in such  proportion as is  appropriate to reflect not only
the relative  benefits  received by the Company and its  shareholders on the one
hand and the Consultant or such other  Indemnified  Person on the other hand, as
well as any relevant  equitable  considerations;  provided that in no event will
the aggregate  contribution by the Consultant and any other  Indemnified  Person
hereunder exceed the amount of fees actually received by the Consultant pursuant
to this Agreement. The reimbursement,  indemnity and contribution obligations of
the Company under this paragraph shall be in addition to any liability which the
Company may otherwise have and shall be binding upon and inure to the benefit of
any successors,  assigns, heirs and personal representatives of the Company, the
Consultant and any other Indemnified Person.

         The provisions of this paragraph (9) shall survive the  termination and
expiration of this Agreement.

         10. This  Agreement  shall be governed by and  construed in  accordance
with the laws of the State of New York, without giving effect to its conflict of
law principles.

         11. This Agreement constitutes the entire agreement between the parties
and  supersedes  any prior  agreements,  whether  written or oral,  between  the
parties.  No  modification,  extension  or  change  in this  Agreement  shall be
effective unless it is in writing and signed by both Consultant and the Company.
This  Agreement may be executed  simultaneously  in any number of  counterparts,
each of which when so executed and  delivered  shall be taken to be an original;
but such counterparts  shall together  constitute but one and the same document.
The  provisions  of this  Agreement  shall be deemed  severable,  so that if any
provision  hereof shall be declared  unlawful or  unenforceable,  the  remaining
provisions  hereof shall not be affected  thereby and shall remain in full force
and effect. A facsimile signature on this Agreement shall be considered the same
as an original.

         12. The  provisions of this  Agreement  shall be binding upon and shall
inure to the benefit of the parties hereto, their heirs, legal  representatives,
successors and assigns. This Agreement may not be assigned except upon the prior
written consent of the other party to this Agreement.

         13. Any notice hereunder shall be in writing and delivery thereof shall
be complete if delivered in person, by facsimile or mailed by overnight mail, or
registered or certified mail, postage prepaid to the following addresses (unless
changed by written notice):

                                       3
<PAGE>

                  Consultant:       Spencer Trask Ventures, Inc.
                                    535 Madison Avenue, 18th Floor
                                    New York, NY 10022
                                    Attention: William P. Dioguardi, President

                  With a copy to:   Feldman Weinstein LLP
                                    420 Lexington Avenue
                                    New York, NY 10170
                                    Attn: David Feldman

                  Company:          Health Sciences Group, Inc.
                                    6080 Center Drive, 6th Floor
                                    Los Angeles, CA 90045
                                    Attention: Bill Glaser, President

         IN WITNESS  WHEREOF,  this  Agreement  has been executed by the parties
hereto as of the date first above written.

HEALTH SCIENCES GROUP, INC.                 SPENCER TRASK VENTURES, INC

By: _________________________________       By:________________________________

                                       4

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