Document:

Exhibit 10.38

  AMENDMENT TO COMMON STOCK PURCHASE WARRANTS AND NOTICE OF WARRANT EXERCISE

      DATED AUGUST 17, 2007 BETWEEN THE COMPANY AND SCO CAPITAL PARTNERS LLC 

        THIS
AMENDMENT TO COMMON STOCK PURCHASE WARRANTS AND NOTICE OF EXERCISE OF WARRANTS (this
“Amendment”) is made as of August 17, 2007 (the “Effective
Date”) by and between Somanta Pharmaceuticals, Inc., a Delaware corporation (the
“Company”) and SCO Capital Partners LLC (“SCO Capital”)
and amends that Common Stock Purchase Warrant No. W-BL1 and that Common Stock Purchase
Warrant W-C14 (each a “Warrant” and together the “Warrants”)
both issued by the Company to SCO Capital in consideration for services rendered in
connection with a debt financing of the Company. 

        WHEREAS,
the Company has issued to SCO Capital the following Warrants: (i) that certain Warrant
dated November 8, 2005 to purchase up to 866,534 shares of the Company’s Common Stock
at an exercise price of $0.01 per share; and (ii) that certain Warrant dated March 13,
2006 to purchase 150,000 shares of the Company’s Common Stock at an exercise price of
$0.01 per share; 

        WHEREAS,
the Company owes an aggregate of $200,000.00 to SCO Financial Group LLC, an affiliate of
SCO Capital (“SCO Financial”) pursuant to that certain Engagement Letter
Agreement dated as of March 1st, 2005, by and between the Company and
SCO Financial, as amended to date (the “Engagement Letter”, and such
aggregate amount owed, the “Engagement Letter Payment Obligation”). 

        WHEREAS,
the parties desire to amend the Warrants to provide for an additional method of payment of
the Warrant Price in accordance with the terms and conditions set forth herein. 

        NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby amend the Warrants as follows: 

        
            
1.       
          Defined Terms. Capitalized terms used but not otherwise defined herein
          shall have the meanings ascribed to such terms in the Warrants. 

        
            
2.       
          Method of Payment of Warrant Price. The first sentence of the fourth
          paragraph of Section 2.1 of each of the Warrants is hereby amended and restated
          to read as follows: 

	  	        “Payment
of the Warrant Price may be made at the option of the Holder by: (i) certified or official
bank check payable to the order of the Company, (ii) wire transfer to the account of the
Company, (iii) the surrender and cancellation of a portion of shares of Common Stock then
held by the Holder or issuable upon exercise of this Warrant, which shall be valued and
credited toward the total Warrant Price due the company for the exercise of the Warrant
based upon the Current Market Price of the Common Stock or (iv) the forgiveness by the
Holder or an affiliate of the Holder of all or such portion of the indebtedness or other
payment obligations owed by the Company and/or its affiliates to the Holder or such
affiliate of the Holder in an amount equal to the Warrant Price due to the Company for the
exercise of the Warrant.” 

        
            
3.       
          Notice of Exercise of Warrants by SCO Capital. In addition, SCO Capital
          hereby exercises each of the Warrants in full and elects to purchase all shares
          of the Common Stock of the Company issuable upon exercise of the Warrants,
          pursuant to the terms of the Warrants, as amended, and as payment of the
          purchase price of such shares, SCO Financial hereby agrees to cancel and forgive
          a portion of the Engagement Letter Payment Obligation owed by the Company to SCO
          Financial pursuant to the Engagement Letter in the amount of $10,165.34. SCO
          Financial hereby forgives such amount of the Engagement Letter Payment
          Obligation and hereby releases and forever waives any claim it may have for such
          amount. Anything in this Amendment to the contrary not withstanding, the
          Company’s obligation to pay the remaining portion of the Engagement Letter
          Payment Obligation shall remain in full force and effect except to the extent of
          any further discharge pursuant to a separate written agreement with SCO
          Financial. Please issue a certificate or certificates representing said shares
          in the name of: SCO Capital Partners LLC, 1285 Avenue of the Americas,
          35th floor, New York, NY 10019. 

        1

        
        

        

        

        
            
4.       
          Full Force and Effect. Except as expressly set forth herein, all other
          provisions of the Warrants shall remain in full force and effect. The Engagement
          Letter shall not be deemed to be amended in any way by this Amendment and shall
          remain in full force and effect. 

        
            
5.       
          Counterparts; Facsimile. This Amendment may be executed in one or more
          counterparts, each of which shall for all purposes be deemed to be an original
          and all of which shall constitute the same instrument. Any signature page
          delivered by a fax machine shall be binding to the same extent as an original
          signature page, with regard to any agreement subject to the terms hereof or any
          amendment thereto. Any party who delivers such a signature page agrees to later
          deliver an original counterpart to any party which requires it. 

        
            
6.       
          Entire Agreement. This Amendment, together with the Warrants and any
          exhibits thereto (which are all incorporated herein by this reference),
          constitute the entire agreement among the parties pertaining to the subject
          matter hereof, and supersedes all prior agreements and understandings of the
          parties in connection herewith. 

[Remainder of Page
Intentionally Left Blank] 

        2

        
        

        

        IN
WITNESS WHEREOF, the parties have executed this Amendment as of the Effective Date. 

        	
                    COMPANY:

                	
                	
                    SOMANTA PHARMACEUTICALS,
                    INC.

                
	 	 	 	 	 	 	 	 	 
	
                	 
                	 
                	By:	 
                	 
                	/s/ Terrance J.
                Bruggeman	 
                	 
                
	 	 	 	 	 	 	
                    

                	 	 
	
                	 
                	 
                	 
                	 
                	 
                	Terrance J.
                Bruggeman, Executive Chairman	 
                	 
                
	 	 	 	 	 	 	 	 	 
	
                    SCO CAPITAL:

                	
                	
                    SCO CAPITAL PARTNERS LLC

                
	 	 	 	 	 	 	 	 	 
	
                	 
                	 
                	By:	 
                	 
                	/s/ Scott
                Nogi	 
                	 
                
	 	 	 	 	 	 	
                    

                	 	 
	
                	 
                	 
                	 
                	 
                	 
                	Scott Nogi, Vice
                President	 
                	 
                
	 	 	 	 	 	 	 	 	 
	
                    SCO FINANCIAL:

                	
                	
                    SCO FINANCIAL GROUP
                    LLC

                
	 	 	 	 	 	 	 	 	 
	
                	 
                	 
                	By:	 
                	 
                	/s/ Scott
                Nogi	 
                	 
                
	 	 	 	 	 	 	
                    

                	 	 
	
                	 
                	 
                	 
                	 
                	 
                	Scott Nogi, Vice
                President	 
                	 
                

[Signature
Page To Amendment To Common Stock Purchase Warrant and Notice of Exercise of Warrant]Exhibit 10.39

          AMENDMENT TO COMMON STOCK PURCHASE WARRANTS AND NOTICE OF WARRANT EXERCISE
  
  DATED AUGUST 17, 2007 BETWEEN THE COMPANY AND SCO FINANCIAL GROUP LLC

        
                THIS
        AMENDMENT TO COMMON STOCK PURCHASE WARRANT AND NOTICE OF EXERCISE OF WARRANT (this
        “Amendment”) is made as of August 17, 2007 (the “Effective
        Date”) by and between Somanta Pharmaceuticals, Inc., a Delaware corporation (the
        “Company”) and SCO Financial Group LLC (“SCO
        Financial”) and amends that Common Stock Purchase Warrant No. W-C15 (the
        “Warrant”), issued by the Company or its predecessor-in-interest,
        Somanta Incorporated, to SCO Financial in connection with that certain Letter Agreement,
        dated March 1, 2005, by and between Somanta Incorporated and SCO Financial (the
        “Letter Agreement”).

        

        
                WHEREAS,
        the Company owes an aggregate of $200,000.00 to SCO Financial pursuant to that certain
        Engagement Letter Agreement dated as of March 1st, 2005, by and between the
        Company and SCO Financial, as amended to date (the “Engagement Letter”,
        and such aggregate amount owed, the “Engagement Letter Payment
        Obligation”).

        

        
                WHEREAS,
        pursuant to the terms of the Letter Agreement, the Company has issued to SCO Financial the
        following Warrant: that certain Warrant dated March 13, 2006 to purchase up to 150,000
        shares of the Company’s Common Stock at an exercise price of $0.01 per
        share;

        

        
                WHEREAS,
        the parties desire to amend the Warrant to provide for an additional method of payment of
        the Warrant Price in accordance with the terms and conditions set forth herein.

        

        
                NOW
        THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
        hereby acknowledged, the parties hereby amend the Warrant as follows:

        

        
            
        1.        Defined Terms. Capitalized terms used
        but not otherwise defined herein shall have the meanings ascribed to such terms in the
        Warrants.

        

        
            
        2.        Method of Payment of Warrant Price. The
        first sentence of Section 2.1(c) of each of the Warrant is hereby amended and restated to
        read as follows:

        

        	 	
                    
                     “(c)      
                    Payment of the Warrant Price may be made at the option of the Holder by: (i)
                    certified or official bank check payable to the order of the Company, (ii) wire
                    transfer to the account of the Company, (iii) the surrender and cancellation of
                    a portion of shares of Common Stock then held by the Holder or issuable upon
                    exercise of this Warrant, which shall be valued and credited toward the total
                    Warrant Price due the company for the exercise of the Warrant based upon the
                    Current Market Price of the Common Stock or (iv) the forgiveness by the Holder
                    or an affiliate of the Holder of all or such portion of the indebtedness or
                    other payment obligations owed by the Company and/or its affiliates to the
                    Holder or such affiliate of the Holder in an amount equal to the Warrant Price
                    due to the Company for the exercise of the Warrant.”

                

        

        

       
            
3.       
        Notice of Exercise of Warrant by SCO Financial. In addition, SCO Financial hereby
        exercises the Warrant in full and elects to purchase all shares of the Common Stock of the
        Company issuable upon exercise of the Warrant, pursuant to the terms of the Warrant, as
        amended, and as payment of the purchase price of such shares, SCO Financial hereby agrees
        to cancel and forgive a portion of the Engagement Letter Payment Obligation owed by the
        Company to SCO Financial pursuant to the Engagement Letter in the amount of $1,500.00. SCO
        Financial hereby forgives such amount of the Engagement Letter Payment Obligation and
        hereby releases and forever waives any claim it may have for such amount. Anything in this
        Amendment to the contrary not withstanding, the Company’s obligation to pay the
        remaining portion of the Engagement Letter Payment Obligation shall remain in full force
        and effect except to the extent of any further discharge pursuant to a separate written
        agreement with SCO Financial. Please issue a certificate or certificates representing said
        shares in the name of: SCO Capital Partners LLC, 1285 Avenue of the Americas,
        35th floor, New York, NY 10019.

        

        1

        

        

        

        

       
            
4.       
        Full Force and Effect. Except as expressly set forth herein, all other provisions of
        the Warrant shall remain in full force and effect. The Engagement Letter shall not be
        deemed to be amended in any way by this Amendment and shall remain in full force and
        effect.

        

       
            
5.       
        Counterparts; Facsimile. This Amendment may be executed in one or more counterparts,
        each of which shall for all purposes be deemed to be an original and all of which shall
        constitute the same instrument. Any signature page delivered by a fax machine shall be
        binding to the same extent as an original signature page, with regard to any agreement
        subject to the terms hereof or any amendment thereto. Any party who delivers such a
        signature page agrees to later deliver an original counterpart to any party which requires
        it.

        

        
            6.       
        Entire Agreement. This Amendment, together with the Warrant and any exhibits thereto
        (which are all incorporated herein by this reference), constitute the entire agreement
        among the parties pertaining to the subject matter hereof, and supersedes all prior
        agreements and understandings of the parties in connection herewith.

        [Remainder of Page
        Intentionally Left Blank]

        2

        

        

        

        

        
                IN
        WITNESS WHEREOF, the parties have executed this Amendment as of the Effective
        Date.

        	
                    COMPANY:

                	
                	
                    SOMANTA PHARMACEUTICALS,
                    INC.

                
	 	 	 	 	 	 	 	 	 
	
                	 
                	 
                	By:	 
                	 
                	/s/ Terrance J. Bruggeman	 
                	 
                
	 	 	 	 	 	 	
                    

                	 	 
	
                	 
                	 
                	 
                	 
                	 
                	Terrance J. Bruggeman, Executive Chairman	 
                	 
                
	 	 	 	 	 	 	 	 	 
	
                    SCO FINANCIAL:

                	
                	
                    SCO FINANCIAL GROUP
                    LLC

                
	 	 	 	 	 	 	 	 	 
	
                	 
                	 
                	By:	 
                	 
                	/s/ Scott
                Nogi	 
                	 
                
	 	 	 	 	 	 	
                    

                	 	 
	
                	 
                	 
                	 
                	 
                	 
                	Scott Nogi, Vice
                President	 
                	 
                

        
        [Signature Page To
        Amendment To Common Stock Purchase Warrants and Notice of Exercise of
        Warrants]

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