Document:

exh4-5_formofwarrant.htm

     

    
      

      

    

     

     

     

     

     

     

    EXHIBIT 4.5

     

    FORM OF WARRANT AGREEMENT BETWEEN THE
REGISTRANT

    AND COMPUTERSHARE TRUST COMPANY, N.A.

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    COMPUTERSHARE,
INC.

    WARRANT
AGREEMENT

     

    This
Agreement is between Healthy Fast Food, Inc., a Nevada corporation (the “Company”), and Computershare,
Inc. a Delaware corporation and its fully owned subsidiary Computershare Trust
Company, N.A. a federally chartered trust company, having its principal office
at 250 Royall Street, Canton, MA 02021 (Collectively “Warrant Agent”, or
individually “Computershare” and the “Trust Company”,
respectively).

     

    The
Company, at or about the time that it is entering into this Agreement, proposes
to issue and sell to public investors up to 1,150,000 Units (together with the
additional units issuable as provided herein, the “Units”).  Each Unit
consists of one share of common stock, $0.001 par value, of the Company, one
redeemable Class A Warrant and two non-redeemable Class B
Warrants.  The Class A Warrants and the Class B Warrants are herein
collectively referred to as the “Warrants.”  Each
Warrant is exercisable to purchase one share of Common Stock upon the terms and
conditions and subject to adjustment in certain circumstances, all as set forth
in this Agreement.

     

    The
Company proposes to issue to the underwriter, Paulson Investment Company, Inc.
("Paulson") in the
public offering of Units referred to above (the "Public Offering") warrants to
purchase up to 100,000 additional Units.

     

    The
Company wishes to retain the Warrant Agent to act on behalf of the Company, and
the Warrant Agent is willing so to act, in connection with the issuance,
transfer, exchange and replacement of the certificates evidencing the Warrants
to be issued under this Agreement (the “Warrant Certificates”) and the
exercise of the Warrants;

     

    The
Company and the Warrant Agent wish to enter into this Agreement to set forth the
terms and conditions of the Warrants and the rights of the holders thereof
(“Warrant Holders”) and
to set forth the respective rights and obligations of the Company and the
Warrant Agent.  Each Warrant Holder is an intended beneficiary of this
Agreement with respect to the rights of Warrant Holders herein.

     

    NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein set
forth, the parties hereto agree as follows:

     

    
      	
               
      

            	
              1.

            	
              Warrants.  Each
      Class A Warrant will entitle the registered holder of a Class A Warrant to
      purchase from the Company one share of Company common stock, $0.001 par
      value per share (each a “Share”) at $___ [100%
      of the public offering price of the Units] per Share and each Class B
      Warrant will entitle the registered holder of a Class B Warrant to
      purchase from the Company one Share at $____ [200% of the public offering
      price of the Units] per Share (together with the exercise price of the
      Class A Warrants, the “Exercise
      Price”).  The Exercise Price is subject to adjustments as
      provided in Section 13 hereof.  A Warrant Holder may exercise
      all or any number of Warrants resulting in the purchase of a whole number
      of Shares.

            

    

     

    
      	
               
      

            	
              2.

            	
              Exercise
      Period.  The Warrants may be exercised at any time during
      the period (the “Exercise
      Period”) commencing
      ____________, 2008 and ending at 5:00 p.m., Mountain Time on
      ______________, 2013 (“Expiration Date”) set
      forth in 

            

    

     

     

    
      
         

      

      
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                the
      Warrant.  After the Expiration Date, any unexercised Warrants
      will be void and all rights of Warrant Holders shall
  cease.

              

      

    

     

    
      	
               
      

            	
              3.

            	
              Execution of Warrant
      Certificates.  Warrant Certificates shall be in
      registered form only and shall be substantially in the form set forth in
      Exhibits A and
      B attached to this Agreement.  Warrant Certificates shall
      be signed by, or shall bear the facsimile signature of, the President or a
      Vice President of the Company and the Secretary or an Assistant Secretary
      of the Company and shall bear a facsimile of the Company’s corporate
      seal.  If any person, whose facsimile signature has been placed
      upon any Warrant Certificate or the signature of an officer of the
      Company, shall have ceased to be such officer before such Warrant
      Certificate is countersigned, issued and delivered, such Warrant
      Certificate shall be countersigned, issued and delivered with the same
      effect as if such person had not ceased to be such officer.  Any
      Warrant Certificate may be signed by, or made to bear the facsimile
      signature of, any person who at the actual date of the preparation of such
      Warrant Certificate shall be a proper officer of the Company to sign such
      Warrant Certificate even though such person was not such an officer upon
      the date of the Agreement.

            

    

     

    
      	
               
      

            	
              4.

            	
              Countersigning.  Warrant
      Certificates shall be manually countersigned by the Warrant Agent and
      shall not be valid for any purpose unless so countersigned.  The
      Warrant Agent hereby is authorized to countersign and deliver to, or in
      accordance with the instructions of, any Warrant Holder any Warrant
      Certificate which is properly
issued.

            

    

     

    
      	
               
      

            	
              5.

            	
              Registration of
      Transfer and Exchanges.  The Warrant Agent shall from
      time to time register the transfer of any outstanding Warrant Certificate
      upon records maintained by the Warrant Agent for such purpose upon
      surrender of such Warrant Certificate to the Warrant Agent for transfer,
      accompanied by appropriate instruments of transfer in form satisfactory to
      the Company and the Warrant Agent and duly executed by the Warrant Holder
      or a duly authorized attorney.  Upon any such registration of
      transfer, a new Warrant Certificate shall be issued in the name of and to
      the transferee and the surrendered Warrant Certificate shall be
      cancelled.

            

    

     

    
      	
               
      

            	
              6.

            	
              Exercise of
      Warrants.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Subject
      to the terms of the Warrant, any Warrant may be exercised upon any single
      occasion during the exercise period.  A Warrant shall be
      exercised by the Warrant Holder by surrendering to the Warrant Agent the
      Warrant Certificate with the exercise form on the reverse of such Warrant
      Certificate duly completed and executed and delivering to the Warrant
      Agent, by good check or bank draft payable to the order of the Warrant
      Agent, the Exercise Price for each Share to be
  purchased.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Upon
      receipt of a Warrant Certificate with the exercise form thereon duly
      executed together with payment in full of the Exercise Price for the
      Shares for which Warrants are then being exercised, the Warrant Agent
      shall requisition from any transfer agent for the Shares, and upon receipt
      shall make delivery of, certificates evidencing the total number of whole
      Shares for which Warrants are then being exercised in such names and
      

            

    

     

     

    
      
         

      

      
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                denominations
      as are required for delivery to, or in accordance with the instructions
      of, the Warrant Holder.  Such certificates for the Shares shall
      be deemed to be issued, and the person whom such Shares are issued of
      record shall be deemed to have become a holder of record of such Shares,
      as of the date of the surrender of such Warrant Certificate and payment of
      the Exercise Price, whichever shall last occur; provided that if the
      transfer books of the Company with respect to the Shares, shall be closed,
      the certificates for the Shares issuable upon exercise of the Warrant
      shall be issued as of the date on which such books shall next be open, and
      the person to whom such Shares are issued of record shall be deemed to
      have become a record holder of such Shares as of the date on which such
      books shall next be open (whether before, on or after the Expiration Date)
      and until such date the Warrant Agent shall be under no duty to deliver
      any certificate for such
Shares.

              

      

    

     

    
      	
               
      

            	
              (c)

            	
              If
      less than all a Warrant Holder’s Warrants are exercised upon a single
      occasion, a new Warrant Certificate for the balance of the Warrants not so
      exercised shall be issued and delivered to, or in accordance with,
      transfer instructions properly given by the Warrant Holder until the
      Expiration Date.

            

    

     

    
      	
               
      

            	
              (d)

            	
              All
      Warrant Certificates surrendered upon exercise shall be
      cancelled.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Upon
      the exercise of any Warrant, the Warrant Agent shall promptly deposit the
      payment into an escrow account established by mutual agreement of the
      Company and the Warrant Agent at a federally insured commercial
      bank.  All funds deposited in the escrow account will be
      disbursed on a weekly basis to the Company once they have been determined
      by the Warrant Agent to be collected funds.  Once the funds are
      determined to be collected, the Warrant Agent shall cause the share
      certificate(s) representing the exercised Warrants to be
      issued.

            

    

     

    
      	
               
      

            	
              (f)

            	
              Expenses
      incurred by the Warrant Agent will be paid by the
      Company.  These expenses, including delivery of Share
      certificates to the shareholder, will be deducted from the Exercise Price
      submitted by a Warrant Holder prior to the distribution of funds to the
      Company.  A detailed accounting statement relating to the number
      of Warrants exercised, names and registered Warrant Holder(s) and the net
      amount of exercised funds remitted will be given to the Company with the
      payment of each exercise amount.

            

    

     

    7.           Warrant Solicitation and
Warrant Solicitation Fee.

    

    
      	
               
      

            	
              (a)

            	
              The
      Company has engaged Paulson, on a non-exclusive basis, as its agent for
      the solicitation of the exercise of the Warrants.  The Company
      will, at its cost, (i) assist Paulson with respect to such solicitation,
      if requested by Paulson, and (ii) provide Paulson, and direct the Warrant
      Agent to deliver to Paulson lists of the record and, to the extent known,
      beneficial owners of the Company’s Warrants.  The Company hereby
      instructs the Warrant Agent to cooperate with Paulson in every respect in
      connection with Paulson’s solicitation activities, including, but not
      limited 

            

    

     

     

    
      
         

      

      
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                to,
      providing to Paulson, at the Company’s cost, a list of record and
      beneficial holders of the Warrants and circulating a prospectus or
      offering circular disclosing the compensation arrangements referenced in
      Section 7(b) below to holders of the Warrants at the time of exercise of
      the Warrants.  In addition to the conditions set forth in
      Section 7(b), Paulson shall accept payment of the warrant solicitation fee
      provided in Section 7(b) only if permitted under the rules and regulations
      of the FINRA and only to the extent that a holder who exercises Warrants
      specifically designates, in writing, that Paulson solicited the
      exercise.

              

      

    

     

    
      	
               
      

            	
              (b)

            	
              In
      each instance in which a Warrant is exercised, the Warrant Agent shall
      promptly give written notice of such exercise to the Company and Paulson
      (“Warrant Agent’s Exercise Notice”). If, upon the exercise of any Warrant
      more than one year from the effective date of the registration statement,
      registering the Warrants, (i) the market price of the Company’s common
      stock is greater than the Exercise Price, (ii) disclosure of compensation
      arrangements between the Company and Paulson with respect to the
      solicitation of the exercise of the Warrants was made both at the time of
      the Public Offering and at the time of exercise (by delivery of the
      prospectus or as otherwise required by applicable law, rule or
      regulation), (iii) the holder of the Warrant confirms in writing that the
      exercise of the Warrant was solicited by Paulson, (iv) the Warrant was not
      held in a discretionary account, and (v) the solicitation of the exercise
      of the Warrant was not in violation of Regulation M (as such rule or any
      successor rule may be in effect as of such time of exercise) promulgated
      under the Securities Exchange Act of 1934, as amended, then the Warrant
      Agent, simultaneously with the distribution of the common stock underlying
      the Warrants so exercised in accordance with the instructions from the
      Company following receipt of the proceeds to the Company received upon
      exercise of such Warrant(s), shall, on behalf of the Company, pay a fee of
      5% of the Warrant Price to Paulson, provided that Paulson delivers to the
      Warrant Agent within ten (10) business days from the date on which Paulson
      has received the Warrant Agent’s Exercise Notice, a certificate that the
      conditions set forth in the preceding clauses (iii), (iv) and (v) have
      been satisfied. Notwithstanding the foregoing, no fee will be paid to
      Paulson with respect to the exercise by Paulson or its affiliates of
      Warrants purchased by it or them and still held by it or them for its or
      their own account. Paulson and the Company may at any time during business
      hours, examine the records of the Warrant Agent, including its ledger of
      original Warrant certificates returned to the Warrant Agent upon exercise
      of Warrants.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      provisions of this Section 7. may not be modified, amended or deleted
      without the prior written consent of
Paulson.

            

    

     

    8.           Redemption of
Warrants.

     

    
      	
               
      

            	
              (a)

            	
              Beginning
      six months after the closing of the Public Offering, the Class A Warrants
      outstanding at the time of a redemption may be redeemed at the option of
      the Company, in whole or in part on a pro-rata basis, by giving not less
      than 30 days prior notice as provided in Section 8(d)
  

            

    

     

     

    
      
         

      

      
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                below,
      which notice may not be given before, but may be given at any time after
      the date on which the closing price of the Company’s common stock on the
      principal exchange or trading facility on which it is then traded has
      equaled or exceeded $_____ [120% of the public offering price of the
      Units] for five consecutive trading
days.

              

      

    

     

    
      	
               
      

            	
              (b)

            	
              The
      price at which Warrants may be redeemed (the “Redemption Price”) is $0.25 per
      Warrant.  On and after the redemption date the holders of record
      of redeemed Warrants shall be entitled to payment of the Redemption Price
      upon surrender of the Warrant Certificates of such redeemed Warrants to
      the Company at the office of the Warrant
Agent.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Notice
      of redemption of Warrants shall be given at least 30 days prior to the
      redemption date by mailing, by registered or certified mail, return
      receipt requested, a copy of such notice to the Warrant Agent and to all
      of the holders of record of redeemed Warrants at their respective
      addresses appearing on the books or transfer records of the Warrant Agent
      or such other address designated in writing by the holder of record to the
      Warrant Agent not less than 40 days prior to the redemption
      date.

            

    

     

    
      	
               
      

            	
              (d)

            	
              From
      and after the redemption date, all rights of the holders with respect to
      the redeemed Warrants (except the right to receive the Redemption Price)
      shall terminate, but only if (i) no later than one day prior to the
      redemption date the Company shall have irrevocably deposited with the
      Warrant Agent as paying agent a sufficient amount to pay on the redemption
      date the Redemption Price for all Warrants called for redemption and (ii)
      the notice of redemption shall have stated the name and address of the
      Warrant Agent and the intention of the Company to deposit such amount with
      the Warrant Agent no later than one day prior to the redemption
      date.

            

    

     

    
      	
               
      

            	
              (e)

            	
              On
      the redemption date, the Warrant Agent shall pay to the holders of record
      of redeemed Warrants all monies received by the Warrant Agent for the
      redemption of Warrants to which the holders of record of such redeemed
      Warrants who shall have surrendered their Warrant Certificates are
      entitled.  The Warrant Agent shall have no obligation to pay for
      the redemption of Warrants except to the extent that funds for such
      payment have been provided to it by the
Company.

            

    

     

    
      	
               
      

            	
              (f)

            	
              All
      amounts deposited with the Warrant Agent that are not required for
      redemption of Warrants may be withdrawn by the Company.  Any
      amounts deposited with the Warrant Agent that shall be unclaimed after six
      months after the redemption date shall be redelivered back to the Company,
      and thereafter the holders of the Warrants called for redemption for which
      such funds were deposited shall look solely to the Company for payment, it
      being understood that the Warrant Agent shall be under no obligation to
      report or remit unclaimed property to appropriate states in compliance
      with applicable law.  The Company acknowledges that the bank
      accounts maintained by the Warrant Agent in connection with the services
      hereunder will be in its name and that the Warrant Agent may receive
      investment earnings in connection with the

            

    

     

     

    
      
         

      

      
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                investment
      at the Warrant Agent’s risk and for its benefit of funds held in those
      accounts from time to time.

              

      

    

     

    
      	
               
      

            	
              (g)

            	
              If
      the company fails to make a sufficient deposit with the Warrant Agent as
      provided above, the holder of any Warrants called for redemption may at
      the option of the holder (i) by notice to the Company declare the notice
      of redemption a nullity as to such holder, or (ii) maintain an action
      against the Company for the Redemption Price.  If the holder
      brings such an action, the Company will pay reasonable attorneys’ fees of
      the holder.  If the holder fails to bring an action against the
      Company for the Redemption Price within 60 days after the redemption date,
      the holder shall be deemed to have elected to declare the notice of
      redemption to be a nullity as to such holder and such notice shall be
      without any force or effect as to such holder.  Except as
      otherwise specifically provided in this paragraph 7(g), a notice of
      redemption, once mailed by the Company as provided in paragraph 7(c) shall
      be irrevocable.

            

    

     

    
      	
               
      

            	
              (h)

            	
              Notwithstanding
      anything to the contrary in this Section 8, the Company may not provide
      notice of any redemption pursuant to this Section 8 at any time at which
      the Warrants are not currently exercisable as a result of the application
      of Section 12.  If, during the period between notice of
      redemption and the Redemption Date, the Warrants become not currently
      exercisable as a result of the application of Section 12, the Redemption
      Date shall be extended to be the tenth business day after such restriction
      on exercise lapses.

            

    

     

    
      	
               
      

            	
              9.

            	
              Taxes.  The
      Company will pay all taxes attributable to the initial issuance of Shares
      upon exercise of Warrants.  The Company shall not, however, be
      required to pay any tax which may be payable in respect to any transfer
      involved in any issue of Warrant Certificates or in the issue of any
      certificates of Shares in the name other than that of the Warrant Holder
      upon the exercise of any Warrant.

            

    

     

    
      	
               
      

            	
              10.

            	
              Mutilated or Missing
      Warrant Certificates.  On receipt by the Company and the
      Warrant Agent of evidence satisfactory as to the ownership of and the
      loss, theft, destruction or mutilation of any Warrant Certificate, the
      Company shall execute and the Warrant Agent shall countersign and deliver
      in lieu thereof, a new Warrant Certificate.  In the case of
      loss, theft or destruction of any Warrant Certificate, the Registered
      Owner requesting issuance of a new Warrant Certificate shall be required
      to secure an indemnity bond from an approved surety bonding
      company.  In the event a Warrant Certificate is mutilated, such
      Warrant Certificate shall be surrendered and canceled by the Warrant Agent
      prior to delivery of a new Warrant Certificate.  Applicants for
      a substitute Warrant Certificate shall also comply with such other
      regulations and pay such other reasonable charges as the Warrant Agent may
      prescribe.

            

    

     

    
      	
               
      

            	
              11.

            	
              Reservation of
      Shares.  For the purpose of enabling the Company to
      satisfy all obligations to issue Shares upon exercise of Warrants, the
      Company will at all times reserve and keep available free from preemptive
      rights, out of the aggregate of its authorized but unissued shares, the
      full number of Shares which may be issued upon the exercise of the
      Warrants and such Shares will upon 

            

    

     

     

    
      
         

      

      
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                issue
      be fully paid and nonassessable by the Company and free from all taxes,
      liens, charges and security interests with respect to the issue
      thereof.

              

      

    

     

    
      	
               
      

            	
              12.

            	
              Governmental
      Restrictions.  If any Shares issuable upon the exercise
      of Warrants require registration or approval of any governmental
      authority, the Company will use all commercially reasonable efforts to
      cause such Shares to be duly registered, or approved, as the case may be,
      and, to the extent practicable, take all such action in anticipation of
      and prior to the exercise of the Warrants, including, without limitation,
      filing any and all post-effective amendments to the Company’s Registration
      Statement on Form SB-2 (Registration No. 333-145360)
      necessary to permit a public offering of the Shares underlying the
      Warrants at any and all times during the term of this Agreement; provided,
      however, that in no event shall such Shares be issued, and the Company is
      authorized to refuse to honor the exercise of any Warrant, if such
      exercise would result in, in the opinion of the Company’s Board of
      Directors, upon advice of counsel, in the violation of any
      law.  In the case of a Warrant exercisable solely for securities
      listed on a securities exchange or for which there are at least three
      independent market makers, in lieu of obtaining such registration or
      approval, the Company may elect to redeem Warrants submitted to the
      Warrant Agent for exercise for a price equal to the difference between the
      aggregate low asked price, or closing price, as the case may be, of the
      securities for which such Warrant is exercisable on the date of such
      submission and the Exercise Price of such Warrants.  In the
      event of such redemption, the Company will pay to the holder of such
      Warrants the above-described redemption price in cash within 10 business
      days after receipt of notice from the Warrant Agent that such Warrants
      have been submitted for exercise.  If, at the Expiration Date,
      the Warrants are not currently exercisable as a result of the provisions
      of this paragraph, the Expiration Date shall be extended to a date that is
      30 calendar days following notice to the Warrant Holders that the Warrants
      are again exercisable and references to the Expiration Date herein shall
      thereafter refer to such extended Expiration
  Date.

            

    

     

    
      	
               
      

            	
              13.

            	
              Adjustments.  If
      prior to the exercise of any Warrants, the Company shall have effected one
      or more stock split-ups, stock dividends or other increases or reductions
      of the number of shares of its $0.001 par value common stock outstanding
      without receiving compensation therefor in money, services or property,
      the number of shares of common stock subject to the Warrants shall (i) if
      a net increase shall have been effected in the number of outstanding
      shares of the Company’s common stock, be proportionately increased, and
      the Exercise Price payable per share shall be proportionately reduced,
      and, (ii) if a net reduction shall have been effected in the number of
      outstanding shares of the Company’s common stock, be proportionately
      reduced and the Exercise Price payable per share be proportionately
      increased.

            

    

     

    
      	
               
      

            	
              14.

            	
              Notice to Warrant
      Holders.  Upon any adjustment as described in Section 13,
      the Company within 20 days thereafter shall (i) cause to be filed with the
      Warrant Agent a certificate signed by a Company officer setting forth the
      details of such adjustment, the method of calculation and the facts upon
      which such calculation is based, which certificate shall be conclusive
      evidence of the correctness of the matters set forth therein, (ii) cause
      written notice of such adjustments to be given to each Warrant Holder as
      of the record date applicable to such adjustment.  Also, if the
      Company proposes to enter into any reorganization, reclassification,
      

            

    

     

     

    
      
         

      

      
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                  sale
      of substantially all of its assets, consolidation, merger, dissolution,
      liquidation or winding up, the Company shall give notice of such fact at
      least 20 days prior to such action to all Warrant Holders which notice
      shall set forth such facts as indicate the effect of such action (to the
      extent such effect may be known at the date of such notice) on the
      Exercise Price and the kind and amount of the shares or other securities
      and property deliverable upon exercise of the Warrants.  Without
      limiting the obligation of the Company hereunder to provide notice to each
      Warrant Holder, failure of the Company to give notice shall not invalidate
      any corporate action taken by the
Company.

                

        

      

    

     

    
      	
               
      

            	
              15.

            	
              No Fractional Warrants
      or Shares.  The Company shall not be required to issue
      fractions of Shares issuable upon exercise of the Warrants, upon the
      reissue of Warrants, or any adjustments as described in Section 13 or
      otherwise; but the Company in lieu of issuing any such fractional
      interest, shall round up or down to the nearest full Share issuable upon
      exercise of the Warrant.  If the total Warrants surrendered by
      exercise would result in the issuance of a fractional share, the Company
      shall not be required to issue a fractional share but rather the aggregate
      number of shares issuable will be rounded up or down to the nearest full
      share.

            

    

     

    
      	
               
      

            	
              16.

            	
              Rights of Warrant
      Holders.  No Warrant Holder, as such, shall have any
      rights of a shareholder of the Company, either at law or equity, and the
      rights of the Warrant Holders, as such, are limited to those rights
      expressly provided in the Warrant Certificate.  The Company and
      the Warrant Agent may treat the registered Warrant Holder in respect of
      any Warrant as the absolute owner thereof for all purposes notwithstanding
      any notice to the contrary.

            

    

     

    
      	
               
      

            	
              17.

            	
              Warrant
      Agent.  The Company hereby appoints the Warrant Agent to
      act as the agent of the Company and the Warrant Agent hereby accepts such
      appointment upon the following terms and conditions by all of which the
      Company and every Warrant Holder, by acceptance of his Warrant
      Certificates, shall be bound:

            

    

     

    
      	
               
      

            	
              (a)

            	
              Statements
      contained in this Agreement and in the Warrant Certificate shall be taken
      as statements of the Company.  The Warrant Agent assumes no
      responsibility for the correctness of any of the same except such as
      describes the Warrant Agent or for action taken or to be taken by the
      Warrant Agent.

            

    

     

    
      	
               
      

            	
              (b)

            	
              The
      Warrant Agent shall not be responsible for any failure of the Company to
      comply with any of the Company’s covenants contained in this Agreement or
      in the Warrant Certificates.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      Warrant Agent may consult at any time with counsel satisfactory to it (who
      may be counsel for the Company) and the Warrant Agent shall incur no
      liability or responsibility to the Company or to any Warrant Holder in
      respect of any action taken, suffered or omitted by it hereunder in good
      faith and in accordance with the opinion or the advice of such counsel,
      provided the Warrant Agent shall have exercised reasonable care in the
      selection and continued employment of such
  counsel.

            

    

     

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (d)

            	
              The
      Warrant Agent shall incur no liability or responsibility to the Company or
      to any Warrant Holder for any action taken in reliance upon any notice,
      resolution, waiver, consent, order, certificate or other paper, document
      or instrument believed by it to be genuine and to have been signed, sent
      or presented by the proper party or
parties.

            

    

     

    
      	
               
      

            	
              (e)

            	
              The
      Company agrees to pay to the Warrant Agent reasonable compensation for all
      services rendered by the Warrant Agent in the execution of this Agreement,
      to reimburse the Warrant Agent for all expenses, taxes and governmental
      charges and all other charges of any kind or nature incurred by the
      Warrant Agent in the execution of this Agreement and to indemnify the
      Warrant Agent and save it harmless against any and all liabilities,
      including judgments, costs and counsel fees, for this Agreement except as
      a result of the Warrant Agent’s gross negligence or bad faith or willful
      misconduct.

            

    

     

    
      	
               
      

            	
              (f)

            	
              The
      Warrant Agent shall be under no obligation to institute any action, suit
      or legal proceeding or to take any other action likely to involve expense
      unless the Company or one or more Warrant Holders shall furnish the
      Warrant Agent with reasonable security and indemnity for any costs and
      expenses which may be incurred in connection with such action, suit or
      legal proceeding, but this provision shall not affect the power of the
      Warrant Agent to take such action as the Warrant Agent may consider
      proper, whether with or without any such security or
      indemnity.  All rights of action under this Agreement or under
      any of the Warrants may be enforced by the Warrant Agent without the
      possession of any of the Warrant Certificates or the production thereof at
      any trial or other proceeding relative thereto, and any such action, suit
      or proceeding instituted by the Warrant Agent shall be brought in its name
      as Warrant Agent, and any recovery of judgment shall be for the ratable
      benefit of the Warrant Holders as their respective rights or interest may
      appear.

            

    

     

    
      	
               
      

            	
              (g)

            	
              The
      Warrant Agent and any shareholder, director, officer or employee of the
      Warrant Agent may buy, sell or deal in any of the Warrants or other
      securities of the Company or become pecuniarily interested in any
      transaction in which the Company may be interested, or contract with or
      lend money to the Company or otherwise act as fully and freely as though
      it were not Warrant Agent under this Agreement.  Nothing herein
      shall preclude the Warrant Agent from acting in any other capacity for the
      Company or for any other legal
entity.

            

    

     

    
      	
               
      

            	
              18.

            	
              Successor Warrant
      Agent.  Any corporation into which the Warrant Agent may
      be merged or converted or with which it may be consolidated, or any
      corporation resulting from any merger, conversion or consolidation to
      which the Warrant Agent shall be a party, or any corporation succeeding to
      the corporate trust business of the Warrant Agent, shall be the successor
      to the Warrant Agent hereunder with the same powers, rights,
      responsibilities and obligations of the Warrant Agent without the
      execution or filing of any paper or any further act of a party or the
      parties hereto.  In any such event or if the name of the Warrant
      Agent is changed, the Warrant Agent or such successor may adopt the
      countersignature of the original Warrant Agent and may countersign such
      

            

    

     

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    
      
        
          	
                   
      

                	
                   

                	
                  Warrants
      either in the name of the predecessor Warrant Agent or in the name of the
      successor Warrant
Agent.

                

        

      

    

     

    
      	
               
      

            	
              19.

            	
              Change of Warrant
      Agent.  The Warrant Agent may resign or be discharged by
      the Company from its duties under this Agreement by the Warrant Agent or
      the Company, as the case may be, giving notice in writing to the other,
      and by giving a date when such resignation or discharge shall take effect,
      which notice shall be sent at least 30 days prior to the date so
      specified.  If the Warrant Agent shall resign, be discharged or
      shall otherwise become incapable of acting, the Company shall appoint a
      successor to the Warrant Agent.  If the Company shall fail to
      make such appointment within a period of 30 days after it has been
      notified in writing of such resignation or incapacity by the resigning or
      incapacitated Warrant Agent or by any Warrant Holder or after discharging
      the Warrant Agent, then any Warrant Holder may apply to the District Court
      for Denver County, Colorado, for the appointment of a successor to the
      Warrant Agent.  Pending appointment of a successor to the
      Warrant Agent, either by the Company or such Court, the duties of the
      Warrant Agent shall be carried out by the Company.  Any
      successor Warrant Agent, whether appointed by the Company or by such
      Court, shall be a bank or a trust company, in good standing, organized
      under the laws of the State of Colorado or of the United States of
      America, having at the time of its appointment as Warrant Agent, a
      combined capital and surplus of at least _______________ million
      dollars.  After appointment, the successor Warrant Agent shall
      be vested with the same powers, rights, duties and responsibilities as if
      it had been originally named as Warrant Agent without further act or deed
      and the former Warrant Agent shall deliver and transfer to the successor
      Warrant Agent any property at the time held by it thereunder, and execute
      and deliver any further assurance, conveyance, act or deed necessary for
      effecting the delivery or transfer.  Failure to give any notice
      provided for in the section, however, or any defect therein, shall not
      affect the legality or validity of the resignation or removal of the
      Warrant or the appointment of the successor Warrant Agent, as the case may
      be.

            

    

     

    
      	
               
      

            	
              20.

            	
              Notices.  Any
      notice or demand authorized by this Agreement to be given or made by the
      Warrant Agent or by any Warrant Holder to or on the Company shall be
      sufficiently given or made if sent by facsimile, mail, first class,
      certified or registered, postage prepaid, addressed (until another address
      is filed in writing by the Company with the Warrant Agent), as
      follows:

            

    

     

    To the
Company:

    Healthy
Fast Food, Inc.

    1075
American Pacific, Suite C

    Henderson,
NV 89074

    Attn:  President

    Facsimile:  702-434-8572

    

    
      
        
           

        

         

      

      
        10

        
          

        

      

      
         

      

    

    To the Warrant
Agent:

    Computershare,
Inc.

    350
Indiana Street, Suite 800

    Golden,
CO, 80401

    Attn:  Corporate
Actions

    Facsimile:  303-262-0606

    

    Any
distribution, notice or demand required or authorized by this Agreement to be
given or made by the Company or the Warrant Agent to or on the Warrant Holders
shall be sufficiently given or made if sent by mail, first class, certified or
registered, postage prepaid, addressed to the Warrant Holders at their last
known addresses as they shall appear on the registration books for the Warrant
Certificates maintained by the Warrant Agent.

     

    
      	
               
      

            	
              21.

            	
              Supplements and
      Amendments.  The Company and the Warrant Agent may from
      time to time supplement or amend this Agreement without the approval of
      any Warrant Holders in order to cure any ambiguity or to correct or
      supplement any provisions herein, or to make any other provisions in
      regard to matters or questions arising hereunder which the Company and the
      Warrant Agent may deem necessary or
desirable.

            

    

     

    
      	
               
      

            	
              22.

            	
              Successors.  All
      the covenants and provisions of this Agreement by or for the benefit of
      the Company or the Warrant Agent shall bind and inure to the benefit of
      their respective successors and assigns
  hereunder.

            

    

     

    
      	
               
      

            	
              23.

            	
              Termination.  This
      Agreement shall terminate at the close of business on the Expiration Date
      or such earlier date upon which all Warrants have been exercised;
      provided, however, that if exercise of the Warrants is suspended pursuant
      to Section 12 and such suspension continues past the Expiration Date, this
      Agreement shall terminate at the close of business on the business day
      immediately following the expiration of such suspension.  The
      provisions of Section 17 shall survive such
  termination.

            

    

     

    
      	
               
      

            	
              24.

            	
              Governing
      Law.  This Agreement and each Warrant Certificate issued
      hereunder shall be deemed to be a contract made under the laws of the
      State of Colorado and for all purposes shall be construed in accordance
      with the laws of said State.

            

    

     

    
      	
               
      

            	
              25.

            	
              Benefits of this
      Agreement.  Nothing in this Agreement shall be construed
      to give any person or corporation other than the Company, the Warrant
      Agent or the registered holders of the Warrant Certificates any legal or
      equitable right, remedy or claim under this
  Agreement.

            

    

     

    
      	
               
      

            	
              26.

            	
              Counterparts.  This
      Agreement may be executed in any number of counterparts, each of such
      counterparts shall for all purposes be deemed to be an original and all
      such counterparts shall together constitute but one and the same
      instrument.

            

    

     

     

     

    
      	
               
      

            	
              [The remainder of page
      intentionally left blank]

            

    

     

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be
executed by one of its officers thereunto duly authorized.

     

    

    Date:  _________________________

    

    

    Healthy
Fast Food, Inc.

    

    

    By:
_______________________________________

    Name:

    Title:

    

    

    

    

    Computershare,
Inc. and

    Computershare
Trust Company, N.A.

    On
Behalf of Both Entities:

    

    

    By:
________________________________________

    Name:

    Title:

    

    

    

    

     

    

    
      
        
           

        

         

      

      
        12

        
          

        

      

      
         

      

    

    Exhibit
A

    

    VOID
AFTER 5 P.M. MOUNTAIN TIME ON _________________, 2013

    

    CLASS A
WARRANTS TO PURCHASE COMMON STOCK

    WA__________                                                                                                                                          Warrants

    

    Healthy
Fast Food, Inc.

    

    CUSIP
42223Y 11 6

    

    THIS
CERTIFIES THAT__________________________________or
registered assigns, is the registered holder of the number of Class A Warrants
(“Warrants”)
set forth above.  Each Warrant, unless and until redeemed by the
Company as provided in the Warrant Agreement, hereinafter more fully described
(the “Warrant
Agreement”) entitles the holder thereof to purchase from Healthy Fast
Food, Inc., a corporation incorporated under the laws of the State of Nevada
(“Company”),
subject to the terms and conditions set forth hereinafter and in the Warrant
Agreement, at any time on or after _____________, 2008 and before the close of
business on ______________, 2013 (“Expiration Date”),
one fully paid and non-assessable share of Common Stock of the Company (“Common Stock”) upon
presentation and surrender of this Warrant Certificate, with the instructions
for the registration and delivery of Common Stock filled in, at the stock
transfer office in Golden, Colorado, of Computershare Trust Company, N.A.,
Warrant Agent of the Company (“Warrant Agent”) or of
its successor warrant agent or, if there be no successor warrant agent, at the
corporate offices of the Company, and upon payment of the Exercise Price (as
defined in the Warrant Agreement) and any applicable taxes paid either in cash,
or by certified or official bank check, payable in lawful money of the United
States of America to the order of the Company.  Each Warrant initially
entitles the holder to purchase one share of Common Stock for $____ [100% of the
public offering price of the Units].  The number and kind of
securities or other property for which the Warrants are exercisable are subject
to adjustment in certain events, such as mergers, splits, stock dividends,
splits and the like, to prevent dilution.  The Company may redeem any
or all outstanding and unexercised Warrants by giving not less than 30 days
prior notice at any time after the later of _____________, 2008 and the date on
which the closing price of the Common Stock on the principal exchange or trading
facility on which it is traded has equaled or exceeded $_____ [120% of the
public offering price of the Units] per share on each of five consecutive
trading days.  The Redemption Price is $0.25 per
Warrant.  All Warrants not theretofore exercised will expire on the
Expiration Date.

    

    This
Warrant Certificate is subject to all of the terms, provisions and conditions of
the Warrant Agreement, dated as
of                        ,
2008, between the Company and the Warrant Agent, to all of which terms,
provisions and conditions the registered holder of this Warrant Certificate
consents by acceptance hereof.  The Warrant Agreement is incorporated
herein by reference and made a part hereof and reference is made to the Warrant
Agreement for a full description of the rights, limitations of rights,
obligations, duties and immunities of the Warrant Agent, the Company and the
holders of the Warrant Certificates.  Copies of the Warrant Agreement
are available for inspection at the stock transfer office of the Warrant Agent
or may 

     

     

    
      
        
          Exhibit A
to Warrant Agreement – page 1

        

      

      
         

        
          

        

      

      
         

      

      be
obtained upon written request addressed to the Company at Healthy Fast Food,
Inc., 1075 American Pacific, Suite C, Henderson, Nevada 89074, Attention: Chief
Financial Officer.

    

    

    The
Company shall not be required upon the exercise of the Warrants evidenced by
this Warrant Certificate to issue fractions of Warrants, Common Stock or other
securities, but shall make adjustment therefor in cash on the basis of the
current market value of any fractional interest as provided in the Warrant
Agreement.

    

    In
certain cases, the sale of securities by the Company upon exercise of Warrants
would violate the securities laws of the United States, certain states thereof
or other jurisdictions.  The Company has agreed to use all
commercially reasonable efforts to cause a registration statement to continue to
be effective during the term of the Warrants with respect to such sales under
the Securities Act of 1933, and to take such action under the laws of various
states as may be required to cause the sale of securities upon exercise to be
lawful.  However, the Company will not be required to honor the
exercise of Warrants if, in the opinion of the Board of Directors, upon advice
of counsel, the sale of securities upon such exercise would be
unlawful.  In certain cases, the Company may, but is not required to,
purchase Warrants submitted for exercise for a cash price equal to the
difference between the market price of the securities obtainable upon such
exercise and the exercise price of such Warrants.  If the Warrants
would otherwise expire while not exercisable as a result of any such
determination by the Board of Directors, their Expiration Date will be extended
to a date 30 days after the Warrants once again become exercisable.

    

    This
Warrant Certificate, with or without other Certificates, upon surrender to the
Warrant Agent, any successor warrant agent or, in the absence of any successor
warrant agent, at the corporate offices of the Company, may be exchanged for
another Warrant Certificate or Certificates evidencing in the aggregate the same
number of Warrants as the Warrant Certificate or Certificates so
surrendered.  If the Warrants evidenced by this Warrant Certificate
shall be exercised in part, the holder hereof shall be entitled to receive upon
surrender hereof another Warrant Certificate or Certificates evidencing the
number of Warrants not so exercised.

    

    No holder
of this Warrant Certificate, as such, shall be entitled to vote, receive
dividends or be deemed the holder of Common Stock or any other securities of the
Company which may at any time be issuable on the exercise hereof for any purpose
whatever, nor shall anything contained in the Warrant Agreement or herein be
construed to confer upon the holder of this Warrant Certificate, as such, any of
the rights of a stockholder of the Company or any right to vote for the election
of directors or upon any matter submitted to stockholders at any meeting thereof
or give or withhold consent to any corporate action (whether upon any matter
submitted to stockholders at any meeting thereof, or give or withhold consent to
any merger, recapitalization, issuance of stock, reclassification of stock,
change of par value or change of stock to no par value, consolidation,
conveyance or otherwise) or to receive notice of meetings or other actions
affecting stockholders (except as provided in the Warrant Agreement) or to
receive dividends or subscription rights or otherwise until the Warrants
evidenced by this Warrant Certificate shall have been exercised and the Common
Stock purchasable upon the exercise thereof shall have become deliverable as
provided in the Warrant Agreement.

    
 

    
      
        
          Exhibit A
to Warrant Agreement – page 2

        

      

      
         

        
          

        

      

      
         

      

    

    If this
Warrant Certificate shall be surrendered for exercise within any period during
which the transfer books for the Company’s Common Stock or other class of stock
purchasable upon the exercise of the Warrants evidenced by this Warrant
Certificate are closed for any purpose, the Company shall not be required to
make delivery of certificates for shares purchasable upon such transfer until
the date of the reopening of said transfer books.

    

    Every
holder of this Warrant Certificate by accepting the same consents and agrees
with the Company, the Warrant Agent, and with every other holder of a Warrant
Certificate that:

    

    (a)           this
Warrant Certificate is transferable on the registry books of the Warrant Agent
only upon the terms and conditions set forth in the Warrant Agreement,
and

    

    (b)           the
Company and the Warrant Agent may deem and treat the person in whose name this
Warrant Certificate is registered as the absolute owner hereof (notwithstanding
any notation of ownership or other writing thereon made by anyone other than the
Company or the Warrant Agent) for all purposes whatever and neither the Company
nor the Warrant Agent shall be affected by any notice to the
contrary.  The Company shall not be required to issue or deliver any
certificate for shares of Common Stock or other securities upon the exercise of
Warrants evidenced by this Warrant Certificate until any tax which may be
payable in respect thereof by the holder of this Warrant Certificate pursuant to
the Warrant Agreement shall have been paid, such tax being payable by the holder
of this Warrant Certificate at the time of surrender.

    

    This
Warrant Certificate shall not be valid or obligatory for any purpose until it
shall have been countersigned by the Warrant Agent.

    

    (Remainder
of page intentionally left blank; signature page follows)

    

    
      
        
          
            Exhibit A
to Warrant Agreement – page 3

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    WITNESS
the facsimile signatures of the proper officers of the Company and its corporate
seal.

    

    Dated:______________

    

    HEALTHY
FAST FOOD, INC.

    

    

    By: ____________________________

    Name:

    Title:

    

    Attest: __________________________

    Secretary

    

    Countersigned:

    

    

    By: __________________________

    Authorized Officer

    

    
      
        
          Exhibit A
to Warrant Agreement – page 4

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
B

    

    VOID
AFTER 5 P.M. MOUNTAIN TIME ON _________________, 2013

    

    CLASS B
WARRANTS TO PURCHASE COMMON STOCK

    WB__________                                                                                                                                Warrants

    

    Healthy
Fast Food, Inc.

    

    CUSIP
42223Y 12 4

    

    THIS
CERTIFIES THAT __________________________or
registered assigns, is the registered holder of the number of Class B Warrants
(“Warrants”)
set forth above.  Each Warrant, unless and until redeemed by the
Company as provided in the Warrant Agreement, hereinafter more fully described
(the “Warrant
Agreement”) entitles the holder thereof to purchase from Healthy Fast
Food, Inc., a corporation incorporated under the laws of the State of Nevada
(“Company”),
subject to the terms and conditions set forth hereinafter and in the Warrant
Agreement, at any time on or after _____________, 2008 and before the close of
business on ______________, 2013 (“Expiration Date”),
one fully paid and non-assessable share of Common Stock of the Company (“Common Stock”) upon
presentation and surrender of this Warrant Certificate, with the instructions
for the registration and delivery of Common Stock filled in, at the stock
transfer office in Golden, Colorado, of Computershare Trust Company, N.A.,
Warrant Agent of the Company (“Warrant Agent”) or of
its successor warrant agent or, if there be no successor warrant agent, at the
corporate offices of the Company, and upon payment of the Exercise Price (as
defined in the Warrant Agreement) and any applicable taxes paid either in cash,
or by certified or official bank check, payable in lawful money of the United
States of America to the order of the Company.  Each Warrant initially
entitles the holder to purchase one share of Common Stock for $_____ [200% of
the public offering price of the Units].  The number and kind of
securities or other property for which the Warrants are exercisable are subject
to adjustment in certain events, such as mergers, splits, stock dividends,
splits and the like, to prevent dilution.  These Warrants are not
redeemable.  All Warrants not theretofore exercised will expire on the
Expiration Date.

    

    This
Warrant Certificate is subject to all of the terms, provisions and conditions of
the Warrant Agreement, dated as
of                        ,
2008, between the Company and the Warrant Agent, to all of which terms,
provisions and conditions the registered holder of this Warrant Certificate
consents by acceptance hereof.  The Warrant Agreement is incorporated
herein by reference and made a part hereof and reference is made to the Warrant
Agreement for a full description of the rights, limitations of rights,
obligations, duties and immunities of the Warrant Agent, the Company and the
holders of the Warrant Certificates.  Copies of the Warrant Agreement
are available for inspection at the stock transfer office of the Warrant Agent
or may be obtained upon written request addressed to the Company at Healthy Fast
Food, Inc., 1075 American Pacific, Suite C, Henderson, Nevada 89074, Attention:
Chief Financial Officer.

    

    The
Company shall not be required upon the exercise of the Warrants evidenced by
this Warrant Certificate to issue fractions of Warrants, Common Stock or other
securities, but shall 

     

     

    
      
        
          Exhibit B
to Warrant Agreement – page 5

        

      

      
         

        
          

        

      

      
         

      

      make
adjustment therefor in cash on the basis of the current market value of any
fractional interest as provided in the Warrant Agreement.

    

    

    In
certain cases, the sale of securities by the Company upon exercise of Warrants
would violate the securities laws of the United States, certain states thereof
or other jurisdictions.  The Company has agreed to use all
commercially reasonable efforts to cause a registration statement to continue to
be effective during the term of the Warrants with respect to such sales under
the Securities Act of 1933, and to take such action under the laws of various
states as may be required to cause the sale of securities upon exercise to be
lawful.  However, the Company will not be required to honor the
exercise of Warrants if, in the opinion of the Board of Directors, upon advice
of counsel, the sale of securities upon such exercise would be
unlawful.  In certain cases, the Company may, but is not required to,
purchase Warrants submitted for exercise for a cash price equal to the
difference between the market price of the securities obtainable upon such
exercise and the exercise price of such Warrants.  If the Warrants
would otherwise expire while not exercisable as a result of any such
determination by the Board of Directors, their Expiration Date will be extended
to a date 30 days after the Warrants once again become exercisable.

    

    This
Warrant Certificate, with or without other Certificates, upon surrender to the
Warrant Agent, any successor warrant agent or, in the absence of any successor
warrant agent, at the corporate offices of the Company, may be exchanged for
another Warrant Certificate or Certificates evidencing in the aggregate the same
number of Warrants as the Warrant Certificate or Certificates so
surrendered.  If the Warrants evidenced by this Warrant Certificate
shall be exercised in part, the holder hereof shall be entitled to receive upon
surrender hereof another Warrant Certificate or Certificates evidencing the
number of Warrants not so exercised.

    

    No holder
of this Warrant Certificate, as such, shall be entitled to vote, receive
dividends or be deemed the holder of Common Stock or any other securities of the
Company which may at any time be issuable on the exercise hereof for any purpose
whatever, nor shall anything contained in the Warrant Agreement or herein be
construed to confer upon the holder of this Warrant Certificate, as such, any of
the rights of a stockholder of the Company or any right to vote for the election
of directors or upon any matter submitted to stockholders at any meeting thereof
or give or withhold consent to any corporate action (whether upon any matter
submitted to stockholders at any meeting thereof, or give or withhold consent to
any merger, recapitalization, issuance of stock, reclassification of stock,
change of par value or change of stock to no par value, consolidation,
conveyance or otherwise) or to receive notice of meetings or other actions
affecting stockholders (except as provided in the Warrant Agreement) or to
receive dividends or subscription rights or otherwise until the Warrants
evidenced by this Warrant Certificate shall have been exercised and the Common
Stock purchasable upon the exercise thereof shall have become deliverable as
provided in the Warrant Agreement.

    

    If this
Warrant Certificate shall be surrendered for exercise within any period during
which the transfer books for the Company’s Common Stock or other class of stock
purchasable upon the exercise of the Warrants evidenced by this Warrant
Certificate are closed for any purpose, the Company shall not be required to
make delivery of certificates for shares purchasable upon such transfer until
the date of the reopening of said transfer books.

     

    
 

    
      
        
          Exhibit B
to Warrant Agreement – page 6

        

      

      
         

        
          

        

      

      
         

      

    

    Every
holder of this Warrant Certificate by accepting the same consents and agrees
with the Company, the Warrant Agent, and with every other holder of a Warrant
Certificate that:

    

    (a)           this
Warrant Certificate is transferable on the registry books of the Warrant Agent
only upon the terms and conditions set forth in the Warrant Agreement,
and

    

    (b)           the
Company and the Warrant Agent may deem and treat the person in whose name this
Warrant Certificate is registered as the absolute owner hereof (notwithstanding
any notation of ownership or other writing thereon made by anyone other than the
Company or the Warrant Agent) for all purposes whatever and neither the Company
nor the Warrant Agent shall be affected by any notice to the
contrary.  The Company shall not be required to issue or deliver any
certificate for shares of Common Stock or other securities upon the exercise of
Warrants evidenced by this Warrant Certificate until any tax which may be
payable in respect thereof by the holder of this Warrant Certificate pursuant to
the Warrant Agreement shall have been paid, such tax being payable by the holder
of this Warrant Certificate at the time of surrender.

    

    This
Warrant Certificate shall not be valid or obligatory for any purpose until it
shall have been countersigned by the Warrant Agent.

    

    (Remainder
of page intentionally left blank; signature page follows)

    

    
      
        
          Exhibit B
to Warrant Agreement – page 7

        

         

      

      
         

        
          

        

      

      
         

      

    

    WITNESS
the facsimile signatures of the proper officers of the Company and its corporate
seal.

    

    Dated:______________

    

    HEALTHY
FAST FOOD, INC.

    

    

    By:______________________________

    Name:

    Title:

    

    Attest:____________________________

    Secretary

    

    Countersigned:

    

    

    By: _______________________________

    Authorized Officer

     

     

     

     

     

     

    
      Exhibit B
to Warrant Agreement – page 8exh4-6_formofrep.htm

     

    
      

      

    

     

     

     

     

     

     

     

     

     

     

     

     

     

    EXHIBIT 4.6

     

    FORM OF REPRESENTATIVE'S PURCHASE WARRANT

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    THIS
WARRANT HAS NOT BEEN REGISTERED

    UNDER THE
SECURITIES ACT OF 1933

    AND IS
NOT TRANSFERABLE

    EXCEPT AS
PROVIDED HEREIN

    

    Healthy
Fast Food, Inc.

    

    PURCHASE
WARRANT

    

    Issued
to:

    

    PAULSON
INVESTMENT COMPANY, INC.

    

    Exercisable
to Purchase

    

    100,000
Units

    

    

    of

    

    

    HEALTHY
FAST FOOD, INC.

    

    

    

    

    

    

    

    

    

    

    

    

    Void
after _________, 2013

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    This is
to certify that, for value received and subject to the terms and conditions set
forth below, the Warrantholder (hereinafter defined) is entitled to purchase,
and the Company promises and agrees to sell and issue to the Warrantholder, at
any time on or after ________, 2009 and on or before _______, 2013, up to
100,000 Units (hereinafter defined) at the Exercise Price (hereinafter
defined).

     

    This
Warrant Certificate is issued subject to the following terms and
conditions:

     

    1.          
 Definitions of Certain
Terms.  Except as may be otherwise clearly required by the
context, the following terms have the following meanings:

     

    (a)  “Act”
means the Securities Act of 1933, as amended.

     

    (b)  “Cashless
Exercise” means an exercise of Warrants in which, in lieu of payment of the
Exercise Price, the Holder elects to receive a lesser number of Securities such
that the value of the Securities that such Holder would otherwise have been
entitled to receive but has agreed not to receive, as determined by the closing
price of such Securities on the date of exercise or, if such date is not a
trading day, on the next prior trading day, is equal to the Exercise Price with
respect to such exercise.  A Holder may only elect a Cashless Exercise
if Securities issuable by the Company on such exercise are publicly traded
securities.

     

    (c)     
“Class A Warrant” means a warrant defined as a Class A Warrant in the Warrant
Agreement.

     

    (d)  “Class B
Warrant” means a warrant defined as a Class B Warrant in the Warrant
Agreement.

     

    (e)  “Closing
Date” means the date on which the Offering is closed.

     

    (f)  “Commission”
means the Securities and Exchange Commission.

     

    (g)  “Common
Stock” means the common stock, par value $0.001, of the Company.

     

    (h)  “Company”
means Healthy Fast Food, Inc., a Nevada corporation.

     

    (i)  “Company’s
Expenses” means any and all expenses payable by the Company or the Warrantholder
in connection with an offering described in Section 6 hereof, except
Warrantholder’s Expenses.

     

    (j)  “Corporate
Financing Rule”  means Rule 2710 of the rules of the Financial
Industry Regulatory Authority.

     

    (k)  “Effective
Date” means the date on which the Registration Statement is declared effective
by the Commission.

     

    
      
         

      

      
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    (l)  “Exercise
Price” means the price at which the Warrantholder may purchase one Unit upon
exercise of Warrants as determined from time to time pursuant to the provisions
hereof.  The initial Exercise Price is $_____ per Unit.

     

    (m)   
“Offering”
means the public offering of Units made pursuant to the Registration
Statement.

     

    (n)  “Participating
Underwriter” means any underwriter participating in the sale of the Securities
pursuant to a registration under Section 6 of this Warrant
Certificate.

     

    (o)  “Registration
Statement” means the Company’s registration statement (File No. 333 - _________)
as amended on the Closing Date.

     

    (p)  “Rules
and Regulations” means the rules and regulations of the Commission adopted under
the Act.

     

    (q)  “Securities”
means the securities obtained or obtainable upon exercise of the Warrant or
securities obtained or obtainable upon exercise, exchange, or conversion of such
securities.

     

    (r)  “Unit”
means one share of Common Stock and one Class A Warrant and two Class B
Warrants.

     

    (s)  “Unit
Warrant” means either a Class A Warrant or a Class B Warrant.

     

    (t)  “Warrant
Agreement” means that certain Warrant Agreement, dated as of ________, 2008, by
and between the Company and Computershare Trust Company relating to the issuance
of Unit Warrants.

     

    (u)  “Warrant
Certificate” means a certificate evidencing the Warrant.

     

    (v)  “Warrantholder”
means a record holder of the Warrant or Securities.  The initial
Warrantholder is Paulson Investment Company, Inc.

     

    (w)  “Warrantholder’s
Expenses” means the sum of (i) the aggregate amount of cash payments made to an
underwriter, underwriting syndicate, or agent in connection with an offering
described in Section 6 hereof multiplied by a fraction the numerator of which is
the aggregate sales price of the Securities sold by such underwriter,
underwriting syndicate, or agent in such offering and the denominator of which
is the aggregate sales price of all of the securities sold by such underwriter,
underwriting syndicate, or agent in such offering and (ii) all out-of-pocket
expenses of the Warrantholder, except for the fees and disbursements of one firm
retained as legal counsel for the Warrantholder that will be paid by the
Company.

     

    (x)  “Warrant”
means the warrant evidenced by this certificate, any similar certificate issued
in connection with the Offering, or any certificate obtained upon transfer or
partial exercise of the Warrant evidenced by any such certificate.

     

    2.   Exercise of
Warrant.  All or any part of the Warrant represented by this
Warrant Certificate may be exercised commencing on the first anniversary of the
Effective Date and 

     

     

    
      
         

      

      
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      ending at
5 p.m. Pacific Time on the fifth anniversary of the Effective Date (the
“Expiration Date”) by surrendering this Warrant Certificate, together with
appropriate instructions, duly executed by the Warrantholder or by its duly
authorized attorney, at the office of the Company, 1075 American Pacific, Suite
C, Henderson, Nevada 89074; or at such other office or agency as the Company may
designate.  The date on which such instructions are received by the
Company shall be the date of exercise.  If the Holder has elected a
Cashless Exercise, such instructions shall so state.  Subject to the
provisions below, upon receipt of notice of exercise, the Company shall
immediately instruct its transfer agent to prepare certificates for the
Securities to be received by the Warrantholder upon completion of the Warrant
exercise.  When such certificates are prepared, the Company shall
notify the Warrantholder and deliver such certificates to the Warrantholder or
as per the Warrantholder’s instructions immediately upon payment in full by the
Warrantholder, in lawful money of the United States, of the Exercise Price
payable with respect to the Securities being purchased, if any.  If
the Warrantholder shall represent and warrant that all applicable registration
and prospectus delivery requirements for their sale have been complied with upon
sale of the Securities received upon exercise of the Warrant, such certificates
shall not bear a legend with respect to the Act.

    

     

    If fewer
than all the Securities purchasable under the Warrant are purchased, the Company
will, upon such partial exercise, execute and deliver to the Warrantholder a new
Warrant Certificate (dated the date hereof), in form and tenor similar to this
Warrant Certificate, evidencing that portion of the Warrant not
exercised.  The Securities to be obtained on exercise of the Warrant
will be deemed to have been issued, and any person exercising the Warrant will
be deemed to have become a holder of record of those Securities, as of the date
of the payment of the Exercise Price.

     

    Notwithstanding
the foregoing, in no event shall such Securities be issued, and the Company is
authorized to refuse to honor the exercise of the Warrant, if such exercise
would result in the opinion of the Company’s Board of Directors, upon advice of
counsel, in the violation of any law; and provided further that, if the Warrant
is exercisable solely for Securities listed on a securities exchange or for
which there are at least three independent market makers, the Company may elect
to redeem the Warrant submitted for exercise for a price equal to the difference
between the aggregate low asked price, or closing price, as the case may be, of
the Securities for which the Warrant is exercisable on the date of exercise and
the Exercise Price; in the event of such redemption, the Company will pay to the
holder of the Warrant the above-described redemption price in cash within 10
business days after receipt of notice of exercise.

     

    3.   Adjustments in Certain
Events.  The number, class, and price of Securities for which
this Warrant Certificate may be exercised are subject to adjustment from time to
time upon the happening of certain events as follows:

     

    (a)  If the
outstanding shares of the Company’s Common Stock are divided into a greater
number of shares or a dividend in stock is paid on the Common Stock, the number
of shares of Common Stock for which the Warrant is then exercisable will be
proportionately increased and the Exercise Price will be proportionately
reduced; and, conversely, if the outstanding shares of Common Stock are combined
into a smaller number of shares of Common Stock, the number of shares of Common
Stock for which the Warrant is then exercisable will be proportionately reduced
and the Exercise Price will be proportionately increased. The increases and
reductions provided for in this Section 3(a) will be made with the intent and,
as nearly as 

     

     

    
      
         

      

      
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      practicable,
the effect that neither the percentage of the total equity of the Company
obtainable on exercise of the Warrants nor the price payable for such percentage
upon such exercise will be affected by any event described in this Section
3(a).

    

     

    (b)  In case
of any change in the Common Stock through merger, consolidation,
reclassification, reorganization, partial or complete liquidation, purchase of
substantially all the assets of the Company, or other change in the capital
structure of the Company, then, as a condition of such change, lawful and
adequate provision will be made so that the holder of this Warrant Certificate
will have the right thereafter to receive upon the exercise of the Warrant the
kind and amount of shares of stock or other securities or property to which he
would have been entitled if, immediately prior to such event, he had held the
number of shares of Common Stock obtainable upon the exercise of the
Warrant.  In any such case, appropriate adjustment will be made in the
application of the provisions set forth herein with respect to the rights and
interest thereafter of the Warrantholder, to the end that the provisions set
forth herein will thereafter be applicable, as nearly as reasonably may be, in
relation to any shares of stock or other property thereafter deliverable upon
the exercise of the Warrant.  The Company will not permit any change
in its capital structure to occur unless the issuer of the shares of stock or
other securities to be received by the holder of this Warrant Certificate, if
not the Company, agrees to be bound by and comply with the provisions of this
Warrant Certificate.

     

    (c)  When any
adjustment is required to be made in the number of shares of Common Stock, other
securities, or the property purchasable upon exercise of the Warrant, the
Company will promptly determine the new number of such shares or other
securities or property purchasable upon exercise of the Warrant and (i) prepare
and retain on file a statement describing in reasonable detail the method used
in arriving at the new number of such shares or other securities or property
purchasable upon exercise of the Warrant and (ii) cause a copy of such statement
to be mailed to the Warrantholder within thirty (30) days after the date of the
event giving rise to the adjustment.

     

    (d)  No
fractional shares of Common Stock or other securities will be issued in
connection with the exercise of the Warrant, but the Company will pay, in lieu
of fractional shares, a cash payment therefor on the basis of the mean between
the bid and asked prices of the Common Stock in the over-the-counter market or
the last sale price of the Common Stock on the principal exchange or other
trading facility on which the Common Stock is traded on the day immediately
prior to exercise.

     

    (e)  If
securities of the Company or securities of any subsidiary of the Company are
distributed pro rata to holders of Common Stock, such number of securities will
be distributed to the Warrantholder or its assignee upon exercise of its rights
hereunder as such Warrantholder or assignee would have been entitled to if this
Warrant Certificate had been exercised prior to the record date for such
distribution.  The provisions with respect to adjustment of the Common
Stock provided in this Section 3 will also apply to the securities to which the
Warrantholder or its assignee is entitled under this Section 3(e).

     

    (f)  Notwithstanding
anything herein to the contrary, there will be no adjustment made hereunder on
account of the sale by the Company of the Common Stock or other Securities
purchasable upon exercise of the Warrant.

     

     

    
      
         

      

      
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    (g)  If,
immediately prior to any exercise of Warrants, there shall be outstanding no
securities of a class or series that, but for the provisions of this Section 3,
would be issuable upon such exercise (the “Formerly Issuable
Securities”), then, upon such exercise, and in lieu of the Formerly
Issuable Securities, the Company shall issue that number and kind of other
securities or property for which the Formerly Issuable Securities were most
recently exercisable or into which the Formerly Issuable Securities were most
recently convertible, as the case may be.

     

    4.   Reservation of
Securities.  The Company agrees that the number of shares of
Common Stock or other Securities sufficient to provide for the exercise of the
Warrant upon the basis set forth above will at all times during the term of the
Warrant be reserved for exercise.

     

    5.   Validity of
Securities.  All Securities delivered upon the exercise of the
Warrant will be duly and validly issued in accordance with their terms, and the
Company will pay all documentary and transfer taxes, if any, in respect of the
original issuance thereof upon exercise of the Warrant.

     

    6.   Registration of Securities
Issuable on Exercise of Warrant Certificate.

     

    (a)  The
Company will register the Securities with the Commission pursuant to the Act so
as to allow the unrestricted sale of the Securities to the public from time to
time commencing on the first anniversary of the Effective Date and ending at
5:00 p.m. Pacific Time on the fifth anniversary of the Effective Date (the
“Registration
Period”).  The Company will also file such applications and
other documents necessary to permit the sale of the Securities to the public
during the Registration Period in those states in which the Units were qualified
for sale in the Offering or such other states as the Company and the
Warrantholder agree to.  In order to comply with the provisions of
this Section 6(a), the Company is not required to file more than one
registration statement.  No registration right of any kind,
“piggyback” or otherwise, will last longer than five years from the Effective
Date.

     

    (b)  The
Company will pay all of the Company’s Expenses and each Warrantholder will pay
its pro rata share of the Warrantholder’s Expenses relating to the registration,
offer, and sale of the Securities.

     

    (c)  Except as
specifically provided herein, the manner and conduct of the registration,
including the contents of the registration, will be entirely in the control and
at the discretion of the Company.  The Company will file such
post-effective amendments and supplements as may be necessary to maintain the
currency of the registration statement during the period of its
use.  In addition, if the Warrantholder participating in the
registration is advised by counsel that the registration statement, in their
opinion, is deficient in any material respect, the Company will use its best
efforts to cause the registration statement to be amended to eliminate the
concerns raised.

     

    (d)  The
Company will furnish to the Warrantholder the number of copies of a prospectus,
including a preliminary prospectus, in conformity with the requirements of the
Act, and such other documents as it may reasonably request in order to
facilitate the disposition of Securities owned by it.

     

     

    
      
         

      

      
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    (e)  The
Company will, at the request of Warrantholders holding at least 50 percent of
the then outstanding Warrants, (i) furnish an opinion of the counsel
representing the Company for the purposes of the registration pursuant to this
Section 6, addressed to the Warrantholders and any Participating Underwriter,
(ii) furnish an appropriate letter from the independent public accountants of
the Company, addressed to the Warrantholders and any Participating Underwriter,
and (iii) make representations and warranties to the Warrantholders and any
Participating Underwriter.  A request pursuant to this subsection (e)
may be made on three occasions.  The documents required to be
delivered pursuant to this subsection (e) will be dated within ten days of the
request and will be, in form and substance, equivalent to similar documents
furnished to the underwriters in connection with the Offering, with such changes
as may be appropriate in light of changed circumstances.

     

    7.   Indemnification in
Connection with Registration.

     

    (a)  If any of
the Securities are registered, the Company will indemnify and hold harmless each
selling Warrantholder, any person who controls any selling Warrantholder within
the meaning of the Act, and any Participating Underwriter against any losses,
claims, damages, or liabilities, joint or several, to which any Warrantholder,
controlling person, or Participating Underwriter may be subject under the Act or
otherwise; and it will reimburse each Warrantholder, each controlling person,
and each Participating Underwriter for any legal or other expenses reasonably
incurred by the Warrantholder, controlling person, or Participating Underwriter
in connection with investigating or defending any such loss, claim, damage,
liability, or action, insofar as such losses, claims, damages, or liabilities,
joint or several (or actions in respect thereof), arise out of or are based upon
any untrue statement or alleged untrue statement of any material fact contained,
on the effective date thereof, in any such registration statement or any
preliminary prospectus or final prospectus, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, that the Company will
not be liable in any case to the extent that any loss, claim, damage, or
liability arises out of or is based upon any untrue statement or alleged untrue
statement or omission or alleged omission made in any registration statement,
preliminary prospectus, final prospectus, or any amendment or supplement
thereto, in reliance upon and in conformity with written information furnished
by a Warrantholder for use in the preparation thereof.  The indemnity
agreement contained in this subparagraph (a) will not apply to amounts paid to
any claimant in settlement of any suit or claim unless such payment is first
approved by the Company, such approval not to be unreasonably
withheld.

     

    (b)  Each
selling Warrantholder, as a condition of the Company’s registration obligation,
will indemnify and hold harmless the Company, each of its directors, each of its
officers who have signed any registration statement or other filing or any
amendment or supplement thereto, and any person who controls the Company within
the meaning of the Act, against any losses, claims, damages, or liabilities to
which the Company or any such director, officer, or controlling person may
become subject under the Act or otherwise, and will reimburse any legal or other
expenses reasonably incurred by the Company or any such director, officer, or
controlling person in connection with investigating or defending any such loss,
claim, damage, liability, or action, insofar as such losses, claims, damages, or
liabilities (or actions in respect thereof) arise out of or are based upon any
untrue or alleged untrue statement of any material fact 

     

     

    
      
         

      

      
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      contained
in said registration statement, any preliminary or final prospectus, or other
filing, or any amendment or supplement thereto, or arise out of or are based
upon the omission or the alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, but only to the extent that such untrue statement or alleged untrue
statement or omission or alleged omission was made in said registration
statement, preliminary or final prospectus, or other filing, or amendment or
supplement, in reliance upon and in conformity with written information
furnished by such Warrantholder for use in the preparation thereof; provided,
however, that the indemnity agreement contained in this subparagraph (b) will
not apply to amounts paid to any claimant in settlement of any suit or claim
unless such payment is first approved by the Warrantholder, such approval not to
be unreasonably withheld.

    

     

    (c)  Promptly
after receipt by an indemnified party under subparagraphs (a) or (b) above of
notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against an indemnifying party, notify the
indemnifying party of the commencement thereof; but the omission to notify the
indemnifying party will not relieve it from any liability that it may have to
any indemnified party otherwise than under subparagraphs (a) and
(b).

     

    (d)  If any
such action is brought against any indemnified party and it notifies an
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate in, and, to the extent that it may wish, jointly with
any other indemnifying party similarly notified, to assume the defense thereof,
with counsel satisfactory to such indemnified party; and after notice from the
indemnifying party to such indemnified party of its election to assume the
defense thereof, the indemnifying party will not be liable to such indemnified
party for any legal or other expenses subsequently incurred by such indemnified
party in connection with the defense thereof other than reasonable costs of
investigation.

     

    8.   Restrictions on
Transfer.  This Warrant Certificate and the Warrant may not be
sold, transferred, assigned, pledged, or hypothecated, or be the subject of any
hedging, short sale, derivative, put, or call transaction that would result in
the effective economic disposition of the securities by any person for a period
of 180 days immediately following the Effective Date, except as permitted in
subparagraph (g)(2) of the Corporate Financing Rule.  The Warrant may
be divided or combined, upon request to the Company by the Warrantholder, into a
certificate or certificates evidencing the same aggregate number of
Warrants.

     

    9.   No Rights as a
Shareholder.  Except as otherwise provided herein, the
Warrantholder will not, by virtue of ownership of the Warrant, be entitled to
any rights of a shareholder of the Company but will, upon written request to the
Company, be entitled to receive such quarterly or annual reports as the Company
distributes to its shareholders.

     

    10.   Notice.  Any
notices required or permitted to be given hereunder will be in writing and may
be served personally or by mail; and if served will be addressed as
follows:

     

    
      
         

      

      
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    If to the Company:

    

    Healthy
Fast Food, Inc.

    1075
American Pacific, Suite C

    Henderson,
NV  89074

    Attention:  President

    

    If to the Warrantholder:

    

    at the address furnished

    by the Warrantholder to
the

    Company for the purpose of

    notice.

    

    Any notice so given by mail will be
deemed effectively given 48 hours after mailing when deposited in the United
States mail, registered or certified mail, return receipt requested, postage
prepaid and addressed as specified above.  Any party may by written
notice to the other specify a different address for notice
purposes.

    

    11. 
 Applicable
Law.  This Warrant Certificate will be governed by and
construed in accordance with the laws of the State of Oregon, without reference
to conflict of laws principles thereunder.  All disputes relating to
this Warrant Certificate shall be tried before the courts of Oregon located in
Multnomah County, Oregon to the exclusion of all other courts that might have
jurisdiction.

     

    Dated as of ____________,
2008

    

    HEALTHY
FAST FOOD, INC.

    

    

    By:
______________________________________

    Name:  Henry
E. Cartwright

    Title:    President

    

    

    Agreed
and Accepted as of __________, 2008

     

    PAULSON
INVESTMENT COMPANY, INC.

    

    

    By:
______________________________________

    Name:

    Title:

    

    #
4708457_v3

     

    8

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