Document:

Exhibit
      10.7

    
NEITHER
      THIS NOTE NOR THE SHARES OF SERIES A CONVERTIBLE PREFERRED STOCK OR COMMON
      STOCK
      ISSUABLE UPON CONVERSION OF THIS NOTE HAS BEEN REGISTERED UNDER THE SECURITIES
      ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW, AND SUCH SECURITIES MAY
      NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
      STATEMENT UNDER SAID ACT OR STATE LAW OR AN OPINION OF COUNSEL THAT SUCH
      REGISTRATION IS NOT REQUIRED.

    

    
      	
              $3,000,000
                

            	 	
              New
                York, New York 

              November
                13, 2007  

            

    

    

    MALEX,
      INC.

    

    3%
      CONVERTIBLE PROMISSORY NOTE DUE MARCH 31, 2008

    

    FOR
      VALUE
      RECEIVED, Malex, Inc., a Delaware corporation (the “Company”), hereby promises
      to pay to the order of Sichenzia Ross Friedman Ference, LLP, as escrow agent,
      or
      registered assigns (the “Holder”), the principal amount of three million dollars
      ($3,000,000) on March 31, 2008 (the “Maturity Date”). Interest on the
      outstanding principal balance shall be paid at the rate of three percent (3%)
      per annum, payable on the Maturity Date. Interest shall be computed on the
      basis
      of a 360-day year, using the number of days actually elapsed. This Note is
      the
      promissory note referred to as the “Make-Good Note” issued pursuant to the
      Securities Purchase Agreement (the “Agreement”), dated November 13, 2007, by and
      among the Company, Barron Partners LP and the other Investors named therein.
      All
      terms defined in the Agreement and used in this Note shall have the same meaning
      in this Note as in the Agreement.

    

    Article
      1.

    Covenants
      of the Company

     

    (a)  Amendment
      to Certificate of Incorporation.
      The
      Company shall take such action to amend its certificate of incorporation and
      create the Series A Convertible Preferred Stock as is required pursuant to
      the
      Agreement.

     

    (b)  Fundamental
      Transaction.
      The
      Company shall not enter into any agreement with respect to any Fundamental
      Transaction, as defined in the Agreement, or consummate any Fundamental
      Transaction without the approval of the Holder.

     

    Article
      2.  

    Events
      of Default; Acceleration

    

    (a)  Events
      of Default Defined.
      The
      entire unpaid principal amount of this Note, together with interest thereon
      shall, on written notice to the Company given by the holders of this Note,
      forthwith become and be due and payable if any one or more the following events
      (“Events of Default”) shall have occurred (for any reason whatsoever and whether
      such happening shall be voluntary or involuntary or be affected or come about
      by
      operation of law pursuant to or in compliance with any judgment, decree, or
      order of any court or any order, rule or regulation of any administrative or
      governmental body) and be continuing. An Event of Default shall
      occur:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (i)  if
      failure shall be made in the payment of the principal or interest on the Note
      when and as the same shall become due and such failure shall continue for a
      period of five (5) business days after such payment is due; or

     

    (ii)  if
      the
      Company shall violate or breach any of the representations, warranties and
      covenants contained in the Note or the Agreement and such violation or breach
      shall continue for thirty (30) days after written notice of such breach shall
      been received by the Company from the Holder; or 

     

    (iii)  if
      the
      Company or any Significant Subsidiary (which term shall mean any subsidiary
      of
      the Company which would be considered a significant subsidiary, as defined
      in
      Rule 1-02 of Regulation S-X of the SEC shall consent to the appointment of
      a
      receiver, trustee or liquidator of itself or of a substantial part of its
      property, or shall admit in writing its inability to pay its debts generally
      as
      they become due, or shall make a general assignment for the benefit of
      creditors, or shall file a voluntary petition in bankruptcy, or an answer
      seeking reorganization in a proceeding under any bankruptcy law (as now or
      hereafter in effect) or an answer admitting the material allegations of a
      petition filed against the Company or any Significant Subsidiary, in any such
      proceeding, or shall by voluntary petition, answer or consent, seek relief
      under
      the provisions of any other now existing or future bankruptcy or other similar
      law providing for the reorganization or winding up of corporations, or an
      arrangement, composition, extension or adjustment with its or their creditors,
      or shall, in a petition in bankruptcy filed against it or them be adjudicated
      a
      bankrupt, or the Company or any Significant Subsidiary or their directors or
      a
      majority of its stockholders shall vote to dissolve or liquidate the Company
      or
      any Significant Subsidiary other than a liquidation involving a transfer of
      assets from a Subsidiary to the Company or another Subsidiary; or

     

    (iv)  if
      an
      involuntary petition shall be filed against the Company or any Significant
      Subsidiary seeking relief against the Company or any Significant Subsidiary
      under any now existing or future bankruptcy, insolvency or other similar law
      providing for the reorganization or winding up of corporations, or an
      arrangement, composition, extension or adjustment with its or their creditors,
      and such petition shall not be vacated or set aside within ninety (90) days
      from
      the filing thereof; or

     

    (v)  if
      a
      court of competent jurisdiction shall enter an order, judgment or decree
      appointing, without consent of the Company or any Significant Subsidiary, a
      receiver, trustee or liquidator of the Company or any Significant Subsidiary,
      or
      of all or any substantial part of the property of the Company or any Significant
      Subsidiary, or approving a petition filed against the Company or any Significant
      Subsidiary seeking a reorganization or arrangement of the Company or any
      Significant Subsidiary under the Federal bankruptcy laws or any other applicable
      law or statute of the United States of America or any State thereof, or any
      substantial part of the property of the Company or any Significant Subsidiary
      shall be sequestered; and such order, judgment or decree shall not be vacated
      or
      set aside within ninety (90) days from the date of the entry thereof;
      or

     

    (vi)  if,
      under
      the provisions of any law for the relief or aid of debtors, any court of
      competent jurisdiction shall assume custody or control of the Company or any
      Significant Subsidiary or of all or any substantial part of the property of
      the
      Company or any Significant Subsidiary and such custody or control shall not
      be
      terminated within ninety (90) days from the date of assumption of such custody
      or control.

     

    (b)  Rights
      of Note Holder.
      Nothing
      in this Note shall be construed to modify, amend or limit in any way the right
      of the holder of this Note to bring an action against the Company.

     

    
      
        
        

      

      
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    Article
      3.

    Conversion

    

    (a)  Automatic
      Conversion.
      Upon
      the filing of both the Restated Certificate and the Certificate of Designation,
      the principal and interest of this Note shall be automatically converted into
      24,787,135 shares of Series A Preferred Stock without any action on the part
      of
      the holder of this Note. In the even that the Company shall not have filed
      the
      Restated Articles and the Certificate of Designation by the maturity date of
      this Note, this Note shall be automatically converted into 24,787,135 shares
      of
      Common Stock. Such shares of Series A Preferred Stock are referred to as the
      Automatic Conversion Securities. Upon such conversion, this Note and the
      Company’s obligations under this Note (including the obligation to pay interest)
      shall terminate. 

     

    (b)  Transfer
      Taxes.
      The
      issuance of certificates for shares of the Common Stock on conversion of this
      Note shall be made without charge to the Holders thereof for any documentary
      stamp or similar taxes that may be payable in respect of the issue or delivery
      of such certificate, provided that the Company shall not be required to pay
      any
      tax that may be payable in respect of any transfer involved in the issuance
      and
      delivery of any such certificate upon conversion in a name other than that
      of
      the Holder, and the Company shall not be required to issue or deliver such
      certificates unless or until the person or persons requesting the issuance
      thereof shall have paid to the Company the amount of such tax or shall have
      established to the satisfaction of the Company that such tax has been
      paid.

     

    (c)  Absolute
      Obligation.
      Except
      as expressly provided herein, no provision of this Note shall alter or impair
      the obligation of the Company, which is absolute and unconditional, to pay
      the
      liquidated damages (if any) on, this Note at the time, place, and rate, and
      in
      the coin or currency, herein prescribed.

     

    (d)  Certain
      Adjustments.

     

    (i)  Stock
      Dividends and Stock Splits.
      If the
      Company, at any time from and after the Closing Date, while this Note is
      outstanding: (A) shall pay a stock dividend or otherwise make a distribution
      or
      distributions on shares of its Common Stock or any other equity or equity
      equivalent securities payable in shares of Common Stock (which, for avoidance
      of
      doubt, shall not include any shares of Common Stock issued by the Company
      pursuant to this Note), (B) subdivide outstanding shares of Common Stock into
      a
      larger number of shares, (C) combine (including by way of reverse stock split)
      outstanding shares of Common Stock into a smaller number of shares, or (D)
      issue
      by reclassification of shares of the Common Stock any shares of capital stock
      of
      the Company, then the number of shares of Common Stock in the Optional
      Conversion Securities shall be multiplied by a fraction of which the numerator
      shall be the number of shares of Common Stock outstanding after such event
      and
      of which the denominator shall be the number of shares of Common Stock
      (excluding treasury shares, if any) outstanding before such event. Any
      adjustment made pursuant to this Section 3(f)(i) shall become effective
      immediately after the record date for the determination of stockholders entitled
      to receive such dividend or distribution and shall become effective immediately
      after the effective date in the case of a subdivision, combination or
      re-classification.

     

    (e)  Series
      A Preferred Stock.
      The
      number of shares of Series A Preferred Stock shall be adjusted as provided
      in
      the Certificate of Designation with respect to any events of the type described
      in this Section 3(f) which occur subsequent to the Closing Date.

     

    (f)  Calculations.
      All
      calculations under this Section 3 shall be made to the nearest cent or the
      nearest 1/100th of a share, as the case may be.

     

    
      
        
        

      

      
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    (g)  Notice
      to Holders.

     

    (i)  Adjustment
      to Conversion Price.
      Whenever the number of shares of Common Stock issuable is adjusted pursuant
      to
      this Section 3, the Company shall promptly mail to each Holder a notice setting
      forth the adjustment and setting forth a brief statement of the facts requiring
      such adjustment. If the Company issues a variable rate security, despite the
      prohibition thereon in the Purchase Agreement, the Company shall be deemed
      to
      have issued Common Stock or Common Stock equivalents at the lowest possible
      conversion or exercise price at which such securities may be converted or
      exercised in the case of a Variable Rate Transaction (as defined in the Purchase
      Agreement), or the lowest possible adjustment price in the case of an MFN
      Transaction (as defined in the Purchase Agreement).

     

    (ii)  Notices
      of Other Events.
      If (A)
      the Company shall declare a dividend (or any other distribution) on the Common
      Stock; (B) the Company shall declare a redemption of the Common Stock; (C)
      the
      Company shall authorize the granting to all holders of the Common Stock rights
      or warrants to subscribe for or purchase any shares of capital stock of any
      class or of any rights; (D) the approval of any stockholders of the Company
      shall be required in connection with any reclassification of the Common Stock
      or
      any Fundamental Transaction, (E) the
      Company shall authorize the voluntary or involuntary dissolution, liquidation
      or
      winding up of the affairs of the Company; then in each case, the Company shall
      cause to be filed at each office or agency maintained for the purpose of
      conversion of this Note, and shall cause to be mailed
      to
      the Holders at their last addresses as they shall appear upon the stock
      books of
      the
      Company, at least 30 calendar days prior to the applicable record or effective
      date hereinafter specified, a notice stating (x)
      the
      date on which a record is to be taken for the purpose of such dividend,
      distribution, redemption, rights or warrants, or if a record is not to be taken,
      the date as of which the holders of the Common Stock of record to be entitled
      to
      such dividend, distributions, redemption, rights or warrants are to be
      determined or (y) the date on which such reclassification is expected to become
      effective or close, and the date as of which it is expected that holders of
      the
      Common Stock of record shall be entitled to exchange their shares of the Common
      Stock for securities, cash or other property deliverable upon such
      reclassification or Fundamental Transaction; provided, that the failure to
      mail
      such notice or any defect therein or in the mailing thereof shall not affect
      the
      validity of the corporate action required to be specified in such
      notice.

     

    Article
      4.

    Subordination

     

    (a)  Agreement
      of Subordination.
      The
      Company, for itself, its successors and assigns, covenants and agrees, and
      the
      Holder of this Note by his or her acceptance of this Note likewise covenants
      and
      agrees, that the payment of the principal of and interest on this Note is hereby
      expressly subordinated, to the extent and in the manner hereinafter set forth,
      to the prior payment in full of all Senior Indebtedness, as hereinafter defined.
      The provisions of this Article 4 shall constitute a continuing offer to all
      persons who, in reliance upon such provision, become holders of, or continue
      to
      hold, Senior Indebtedness, and such provisions are made for the benefit of
      the
      holders of Senior Indebtedness, and such holders are hereby made obligees
      hereunder the same as if their names were written herein as such, and they
      and/or each of them may proceed to enforce such provisions.

     

    (b)  Company
      Not to Make Payments with Respect to Note in Certain
      Circumstances.

     

    (i)  Upon
      the
      maturity of any Senior Indebtedness by lapse of time, acceleration or otherwise,
      all principal thereof and premium, if any, and interest thereon shall first
      be
      paid in full, or such payment duly provided for in cash or in a manner
      satisfactory to the holder or holders of such Senior Indebtedness, before any
      payment is made by the Company (A) on account of the principal of or interest
      on
      this Note or (B) to acquire this Note.

     

    
      
        
        

      

      
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    (ii)  Upon
      the
      happening of an event of default with respect to any Senior Indebtedness, as
      such event of default is defined therein or in the instrument under which it
      is
      outstanding, permitting the holders to accelerate the maturity thereof, then,
      unless and until such event of default shall have been cured or waived or shall
      have ceased to exist, no payment shall be made by the Company (A) on account
      of
      the principal of or interest on this Note or (B) to acquire this
      Note.

     

    (iii)  Subject
      to Paragraphs 4(b)(i) and (ii), as long as any Senior Indebtedness shall be
      outstanding, (A) the Company shall not make any payment of principal on this
      Note except upon the Maturity Date, and (B) the Company may pay interest on
      this
      Note as long as the payment of such principal or interest will not result in
      an
      event of default under the terms of the instruments pursuant to which the Senior
      Indebtedness is issued.

     

    (iv)  In
      the
      event that, notwithstanding the provision of this Paragraph 4(b), the Company
      shall make any payment to the Holder of this Note on account of the principal
      of
      or interest on this Note after the happening of a default in payment of the
      principal of or premium, if any, or interest on Senior Indebtedness or after
      receipt by the Company of written notice of an event of default with respect
      to
      any Senior Indebtedness, then unless and until such default or event of default
      shall have been cured or waived or shall have ceased to exist, such payment
      shall be held by the holder of this Note in trust for the benefit of, and shall
      be paid forthwith over and delivered to, the holders of Senior Indebtedness
      (pro
      rata as to each of such holders on the basis of the respective amounts of Senior
      Indebtedness held by them) or their representative or the trustee under the
      indenture or other agreement (if any) pursuant to which any instruments
      evidencing any Senior Indebtedness may have been issued, as their respective
      interests may appear, for application to the payment of all Senior Indebtedness
      remaining unpaid to the extent necessary to pay all Senior Indebtedness in
      full
      in accordance with the terms of such Senior Indebtedness, after giving effect
      to
      any concurrent payment or distribution to or for the holders of Senior
      Indebtedness.

     

    (c)  Notes
      Subordinated to Prior Payment of all Senior Indebtedness on Dissolution,
      Liquidation or Reorganization of Company.
      Upon
      any distribution of assets of the Company upon any dissolution, winding up,
      liquidation or reorganization of the Company (whether in bankruptcy, insolvency
      or receivership proceedings or upon an assignment for the benefit of creditors
      or otherwise):

     

    (i)  The
      holders of all Senior Indebtedness shall first be entitled to receive payment
      in
      full of the principal thereof, premium, if any, and interest due thereon before
      the holder of this Note are entitled to receive any payment on account of the
      principal of or interest on this Note (other than securities of the Company
      or
      any other entity provided for by a plan of reorganization or readjustment which
      stock and securities are subordinated to the payment of all Senior Indebtedness
      and securities received in lieu thereof which may at the time be outstanding);
      and

     

    (ii)  Any
      payment or distribution of assets of the Company of any kind or character
      whether in cash, property or securities (other than securities that are
      subordinated to the payment of all Senior Indebtedness and securities received
      in lieu thereof which may at the time be outstanding), to which the holder
      of
      this Note would be entitled except for the provisions of this Article 4, shall
      be paid by the liquidating trustee or agent or other person making such payment
      of distribution, whether a trustee in bankruptcy, a receiver or liquidating
      trustee or other trustee or agent, directly to the holders of Senior
      Indebtedness or their representative or representatives, or to the trustee
      or
      trustees under any indenture under which any instruments evidencing any of
      such
      Senior Indebtedness may have been issued, to the extent necessary to make
      payment in full of all Senior Indebtedness remaining unpaid, after giving effect
      to any concurrent payment or distribution or provision therefor to the holders
      of such Senior Indebtedness.

     

    
      
        
        

      

      
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    (iii)  In
      the
      event that, notwithstanding the foregoing provision of this Paragraph 4(c),
      any
      payment or distribution of assets of the Company of any kind or character,
      whether in cash, property or securities (other than shares representing equity
      of the Company as reorganized or readjusted, or securities of the Company or
      any
      other entity provided for by a plan of reorganization or readjustment which
      stock and securities are subordinated to the payment of all Senior Indebtedness
      and securities received in lieu thereof which may at the time be outstanding),
      shall be received by the holder of this Note on account of principal of or
      interest on this Note before all Senior Indebtedness is paid in full, or
      effective provision made for its payment or distribution, such payment or
      distribution shall be received and held in trust for and shall be paid over
      to
      the holders of the Senior Indebtedness remaining unpaid or unprovided for or
      their representative or representatives, or to the trustee or trustees under
      any
      indenture under which any instruments evidencing any of such Senior Indebtedness
      may have been issued, for application to the payment of such Senior Indebtedness
      until all such Senior Indebtedness shall have been paid in full, after giving
      effect to any concurrent payment or distribution or provision therefor to the
      holders of such Senior Indebtedness.

     

    (d)  Noteholder
      to be Subrogated to Right of Holders of Senior Indebtedness.
      Subject
      to the payment in full of all Senior Indebtedness, the holders of the Notes
      shall be subrogated, pro rata, to the rights of the holders of Senior
      Indebtedness to receive payments or distributions of assets of the Company
      applicable to the Senior Indebtedness until all amounts owing on the Notes
      shall
      be paid in full, and, for the purpose of such subrogation, no payments or
      distributions to the holders of the Senior Indebtedness by or on behalf of
      the
      Company or by or on behalf of the holder of this Notes by virtue of this Article
      4 which otherwise would have been made to the holder of this Notes shall, as
      between the Company and the holder of this Note, be deemed to be payment by
      the
      Company to or on account of the Senior Indebtedness, it being understood that
      the provisions of this Article 4 are, and are intended solely, for the purpose
      of defining the relative rights of the holders of the Notes, on the one hand,
      and the holders of the Senior Indebtedness, on the other hand.

     

    (e)  Obligation
      of the Company Unconditional.
      Nothing
      contained in this Article 4 or elsewhere in this Note is intended to or shall
      impair as between the Company and the holder of this Note, the obligation of
      the
      Company, which is absolute and unconditional, to pay to the holder of this
      Note
      the principal of and interest on this Note as and when the same shall become
      due
      and payable in accordance with its terms, or is intended to or shall affect
      the
      relative rights of the holder of this Note and creditors of the Company other
      than the holders of the Senior Indebtedness, nor shall anything herein or
      therein prevent the holder of this Note of this Note from exercising all
      remedies otherwise permitted by applicable law upon default under this Note,
      subject to the rights, if any, under this Article 4 of the holders of Senior
      Indebtedness in respect of cash, property or securities of the Company received
      upon the exercise of any such remedy; provided, however, that the holder of
      this
      Note shall not exercise any remedies if the exercise of such remedies would
      result in an event of default under the terms of the Senior Indebtedness. Upon
      any distribution of assets of the Company referred to in this Article 4, the
      holders of this Note shall be entitled to rely upon any order or decree made
      by
      any court of competent jurisdiction in which any dissolution, winding up,
      liquidation or reorganization proceedings are pending, or a certificate of
      the
      liquidating trustee or agent or other person making any distribution to the
      holder of this Note for the purpose of ascertaining the persons entitled to
      participate in such distribution, the holders of the Senior Indebtedness and
      other indebtedness of the Company, the amount thereof or payable thereon, the
      amount or amounts paid or distributed thereon and all other facts pertinent
      thereto or to this Article 4. In no event shall any provision of this Article
      4
      be interpreted as limiting or abrogating the right of the holder of this Note
      to
      convert principal and interest thereon pursuant to Article 3 of this
      Note.

     

    
      
        
        

      

      
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    (f)  Subordination
      Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior
      Indebtedness.
      No
      right of any present or future holders of any Senior Indebtedness to enforce
      subordination as herein provided shall at any time in any way be prejudiced
      or
      impaired by any act or failure to act on the part of the Company or by any
      act
      or failure to act, in good faith, by any such holder, or by any noncompliance
      by
      the Company with the terms, provisions and covenants of this Note, regardless
      of
      any knowledge thereof which any such holder may have or be otherwise charged
      with.

     

    (g)  Definition
      of Senior Indebtedness.
      The
      term “Senior Indebtedness” is defined to mean the principal of and premium, if
      any, and interest on and any obligations of the Company with respect to the
      Company’s indebtedness to all indebtedness and obligations (other than the
      Notes) of the Company to banks, insurance companies and other institutional
      lenders.

     

    (h)  Additional
      Agreement.
      The
      holder of this Note, by its acceptance of this Note, agrees to execute any
      formal instruments of subordination which may be reasonably requested by any
      holder of Senior Indebtedness. 

     

    Article
      5.

    Miscellaneous

    

    (a)  Transferability.
      This
      Note shall not be transferred except in a transaction exempt from registration
      pursuant to the 1933 Act and applicable state securities law. The Company shall
      treat as the owner of this Note the person shown as the owner on its books
      and
      records.

     

    (b)  Limited
      Right of Prepayment.
      The
      Company shall have no right to prepay this Note without the prior written
      consent of the Holder, which consent may be given or withheld by the Holder
      in
      its sole discretion. Any prepayment shall be accompanied by interest on this
      Note to the date of prepayment.

     

    (c)  WAIVER
      OF TRIAL BY JURY.
      IN ANY
      LEGAL PROCEEDING TO ENFORCE PAYMENT OF THIS NOTE, THE COMPANY WAIVES TRIAL
      BY
      JURY.

     

    (d)  WAIVER
      OF ANY RIGHT OF COUNTERCLAIM.
      EXCEPT
      AS PROHIBITED BY LAW, THE COMPANY HEREBY WAIVES ANY RIGHT TO ASSERT ANY CLAIM
      IT
      MAY HAVE AGAINST THE HOLDER OF THIS NOTE BY WAY OF A COUNTERCLAIM (OTHER THAN
      A
      COMPULSORY COUNTERCLAIM) IN ANY ACTION ON THIS NOTE.

     

    (e)  Usury
      Saving Provision.
      All
      payment obligations arising under this Note are subject to the express condition
      that at no time shall the Company be obligated or required to pay interest
      at a
      rate which could subject the holder of this Note to either civil or criminal
      liability as a result of being in excess of the maximum rate which the Company
      is permitted by law to contract or agree to pay. If by the terms of this Note,
      the Company is at any time required or obligated to pay interest at a rate
      in
      excess of such maximum rate, the applicable rate of interest shall be deemed
      to
      be immediately reduced to such maximum rate, and interest thus payable shall
      be
      computed at such maximum rate, and the portion of all prior interest payments
      in
      excess of such maximum rate shall be applied and shall be deemed to have been
      payments in reduction of principal.

     

    
      
        
        

      

      
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    (f)  Notice
      to Company.
      Notice
      to the Company shall be given to the Company at its principal executive offices,
      presently located at c/o Greenpower Environmental Technologies,
      Inc.,Qianzhou
      Town, Wuxi City, Jiangsu, PRC 214181, attention of Mr. Wu Jianhua,
      CEO,
      with a copy to Kevin L. Leung, Richardson & Patel LLP, 10900 Wilshire
      Boulevard, Suite 500, Los Angeles, CA 90024, and to Asher S. Levitsky PC,
      Sichenzia Ross Friedman Ference LLP, 61 Broadway, 32 Floor, New York, NY 10006,
      or to such other address or person as the Company may, from time to time, advise
      the holder of this Note, or to the holder of this Note at the address set forth
      on the Company’s records. Notice shall be given by hand delivery, certified or
      registered mail, return receipt requested, overnight courier service which
      provides evidence of delivery, or by telecopier if confirmation of receipt
      is
      given or of confirmation of transmission is sent as herein
      provided.

     

    (g)  Governing
      Law.
      This
      Note shall be governed by the laws of the State of New York applicable to
      agreements executed and to be performed wholly within such state. The Company
      hereby (i) consents to the exclusive jurisdiction of the United States District
      Court for the Southern District of New York and Supreme Court of the State
      of
      New York in the County of New York in any action relating to or arising out
      of
      this Note, (ii) agrees that any process in any such action may be served upon
      it
      either (x) by certified or registered mail, return receipt requested, or by
      an
      overnight courier service which obtains evidence of delivery, with the same
      full
      force and effect as if personally served upon him in New York City or (y) any
      other manner permitted by law, and (iii) waives any claim that the jurisdiction
      of any such tribunal is not a convenient forum for any such action and any
      defense of lack of in personam jurisdiction with respect thereto.

     

    (h)  Expenses.
      In the
      event that the Holder commences a legal proceeding in order to enforce its
      rights under this Note, the Company shall pay all reasonable legal fees and
      expenses incurred by the holder with respect thereto.

     

    IN
      WITNESS WHEREOF, the Company has executed this Note as of the date and year
      first aforesaid.

    

    
      	 	
              MALEX,
                INC.

            
	 	 
	 	 
	 	
              By:

            	
              /s/
                Wu Jianhua

            
	 	 	
              Wu
                JianHua

            
	 	 	
              Chief
                Executive Officer

            

    

     

    
      
        
        

      

      
        -
          8
          -Exhibit
      10.8

     

    [Form
      of Common Stock Purchase Warrant]

    

    NEITHER
      THE
      WARRANTS
      REPRESENTED BY THIS CERTIFICATE NOR
      THE SHARES OF COMMON STOCK HAVE
      BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“1933
      ACT”),
      OR ANY STATE SECURITIES
      LAWS AND NEITHER SUCH SHARES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT
      WITH RESPECT THERETO IS EFFECTIVE UNDER THE 1933 ACT,
      OR (2) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE 1933
      ACT
      AND ANY APPLICABLE STATE SECURITIES LAWS
      AND THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL ACCEPTABLE TO THE
      COMPANY AS TO SUCH EXEMPTION.

    

    IN
      ADDITION, A SECURITIES PURCHASE AGREEMENT DATED AS OF NOVEMBER 13, 2007, (THE
      “PURCHASE AGREEMENT”), A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY AT ITS
      PRINCIPAL EXECUTIVE OFFICE, CONTAINS CERTAIN ADDITIONAL AGREEMENTS BETWEEN
      THE
      PARTIES WITH RESPECT TO THIS WARRANT.

    

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

    

    MALEX,
      INC.

    

    COMMON
      STOCK PURCHASE WARRAN

    

    Number
      of
      Shares: __________1      Holder:
      __________

     

    Original
      Issue Date: November 13, 2007   

    Expiration
      Date: November 13, 2012   

    Exercise
      Price per Share: $0.58    

    

    Malex,
      Inc., a Delaware corporation (the “Company”),
      hereby certifies that, for value received, __________,
      or
      registered assigns (the “Warrant
      Holder”),
      is
      entitled, subject to the terms set forth below, to purchase from the Company
      up
      to 10,670,780
      shares (as
      adjusted from time to time as provided in Section 7 of this Warrant, the
“Warrant
      Shares”)
      of
      common stock, $.001 par value (the “Common
      Stock”),
      of
      the Company at a price of fifty eight cents ($.58) per Warrant Share (as
      adjusted from time to time as provided in Section 7, the “Exercise
      Price”),
      at
      any time and from time to time from and after the date thereof and through
      and
      including 5:00 p.m. New York City time on November
      13, 2012 (the “Expiration Date”), and subject to the following terms and
      conditions:

     

    1.  Registration
      of Warrant.
      The
      Company shall register this Warrant upon records to be maintained by the Company
      for that purpose (the “Warrant
      Register”),
      in
      the name of the record Warrant Holder hereof from time to time. The Company
      may
      deem and treat the registered Warrant Holder of this Warrant as the absolute
      owner hereof for the purpose of any exercise hereof or any distribution to
      the
      Warrant Holder, and for all other purposes, and the Company shall not be
      affected by notice to the contrary.

     

    
      
        

      

      1

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.  Investment
      Representation.
      The
      Warrant Holder by accepting this Warrant represents that the Warrant Holder
      is
      acquiring this Warrant for its own account or the account of an affiliate
that
      is
      an accredited investor which has been identified to and approved by (such
      approval not to be unreasonably withheld or delayed) for
      investment purposes and not with the view to any offering or distribution and
      that the Warrant Holder will not sell or otherwise dispose of this Warrant
      or
      the underlying Warrant Shares in violation of applicable securities laws. The
      Warrant Holder acknowledges that the certificates representing any Warrant
      Shares will bear a legend indicating that they have not been registered under
      the 1933
      Act,
      and may
      not be sold by the Warrant Holder except pursuant to an effective registration
      statement or pursuant to an exemption from registration requirements of the
      1933
      Act and in accordance with federal and state securities laws. If this Warrant
      was acquired by the Warrant Holder pursuant to the exemption from the
      registration requirements of the 1933 Act afforded by Regulation S thereunder,
      the Warrant Holder acknowledges and covenants that this Warrant may not be
      exercised by or on behalf of a Person during the one year distribution
      compliance period (as defined in Regulation S) following the date hereof.
“Person”
      means an
      individual, partnership, firm, limited liability company, trust, joint venture,
      association, corporation, or any other legal entity.

     

    3.  Validity
      of Warrant and Issue of Shares.
      The
      Company represents and warrants that this Warrant has been duly authorized
      and
      validly issued and warrants and agrees that all of Common Stock that may be
      issued upon the exercise of the rights represented by this Warrant will, when
      issued upon such exercise, be duly authorized, validly issued, fully paid and
      nonassessable and free from all taxes, liens and charges with respect to the
      issue thereof
      other
      than those incurred by the Holder.
      The
      Company further warrants and agrees that during the Exercise
      Period,
      the
      Company will at all times have authorized and reserved a sufficient number
      of
      Common Stock to provide for the exercise of the rights represented by this
      Warrant.

     

    4.  Registration
      of Transfers and Exchange of Warrants.

     

    a.  Subject
      to compliance with the federal
      and state securities laws,
      the
      Company shall register the transfer of any portion of this Warrant in the
      Warrant Register, upon surrender of this Warrant with the Form of Assignment
      attached hereto duly completed and signed, to the Company at the office
      specified in or pursuant to Section 13. Upon any such registration or transfer,
      a new warrant to purchase Common Stock, in substantially the form of this
      Warrant (any such new warrant, a “New
      Warrant”),
      evidencing the portion of this Warrant so transferred shall be issued to the
      transferee and a New Warrant evidencing the remaining portion of this Warrant
      not so transferred, if any, shall be issued to the transferring Warrant Holder.
      The acceptance of the New Warrant by the transferee thereof shall be deemed
      the
      acceptance of such transferee of all of the rights and obligations of a Warrant
      Holder of a Warrant.

     

    b.  This
      Warrant is exchangeable, upon the surrender hereof by the Warrant Holder to
      the
      office of the Company specified in or pursuant to Section 9 for one or more
      New
      Warrants, evidencing in the aggregate the right to purchase the number of
      Warrant Shares which may then be purchased hereunder. Any such New Warrant
      will
      be dated the date of such exchange.

     

    
      	5.  	
              Exercise
                of Warrants.

            

    

     

    a.  Upon
      surrender of this Warrant with the Form of Election to Purchase attached hereto
      duly completed and signed to the Company, at its address set forth in Section
      13, and upon payment and delivery of the Exercise Price per Warrant Share
      multiplied by the number of Warrant Shares that the Warrant Holder intends
      to
      purchase hereunder, in lawful money of the United States of America,
by
      wire
      transfer
      or by
      certified or official bank check or checks, to the Company, all as specified
      by
      the Warrant Holder in the Form of Election to Purchase, the Company shall
      promptly (but in no event later than 7 business days after the Date of Exercise
      (as defined herein)) issue or cause to be issued and cause to be delivered
      to or
      upon the written order of the Warrant Holder and in such name or names as the
      Warrant Holder may designate (subject to the restrictions on transfer described
      in the legend set forth on the face of this Warrant), a certificate for the
      Warrant Shares issuable upon such exercise, with such restrictive legend as
      required by the 1933 Act. Any person so designated by the Warrant Holder to
      receive Warrant Shares shall be deemed to have become holder of record of such
      Warrant Shares as of the Date of Exercise of this Warrant.

     

    
      
        
        

      

      
        -
          2
          -

        
          

        

      

      
        
        

      

    

     

    b.  A
“Date
      of Exercise” means the date on which the Company shall have received (i) this
      Warrant (or any New Warrant, as applicable), with the Form of Election to
      Purchase attached hereto (or attached to such New Warrant) appropriately
      completed and duly signed, and (ii) payment of the Exercise Price for the number
      of Warrant Shares so indicated by the Warrant Holder to be
      purchased.

     

    c.  This
      Warrant shall be exercisable at any time and from time to time
      during
      the Exercise Period
      for such
      number of Warrant Shares as is indicated in the attached Form of Election To
      Purchase. If less than all of the Warrant Shares which may be purchased under
      this Warrant are exercised at any time, the Company shall issue or cause to
      be
      issued, at its expense, a New Warrant evidencing the right to purchase the
      remaining number of Warrant Shares for which no exercise has been evidenced
      by
      this Warrant.

     

    d.  (i) Notwithstanding
      anything contained herein to the contrary,
      but
      subject to
      Section
      5(e) and
      Section
      6, the holder of this Warrant may, at its election exercised in its sole
      discretion, exercise this Warrant in whole or in part and, in lieu of making
      the
      cash payment otherwise contemplated to be made to the Company upon such exercise
      in payment of the Aggregate Exercise Price, elect instead to receive upon such
      exercise the “Net
      Number”
of
      shares of Common Stock determined according to the following formula (a
“Cashless
      Exercise”):

     

    Net
      Number = (A x (B - C))/B

     

    (ii) For
      purposes of the foregoing formula:

     

    A=
      the
      total number shares with respect to which this Warrant is then being
      exercised.

     

    B=
      the
      last reported sale price (as reported by Bloomberg) of the Common Stock on
      the
      trading day immediately preceding the date of the Exercise Notice.

     

    C=
      the
      Warrant Exercise Price then in effect at the time of such exercise.

     

    e.  The
      holder of this Warrant may
      not
make
      a
      Cashless Exercise (i)
      during the twelve (12) months following the Original Issue Date and (ii)
      thereafter if the sale by the Holder of the Warrant Shares is covered
      by
      an
      effective registration statement.

     

    6.  Maximum
      Exercise.
      The
      Warrant Holder shall not be entitled to exercise this Warrant
      on a Date of Exercise in connection with that number of shares of Common Stock
      which would be in excess of the sum of (i) the number of shares of Common Stock
      beneficially owned by the Warrant Holder and its affiliates on the
      Date
      of Exercise,
      and
      (ii) the number of shares of Common Stock issuable upon the exercise of this
      Warrant with respect to which the determination of this limitation is being
      made
      on an Date
      of
      Exercise,
      which
      would result in beneficial ownership by the Warrant Holder and its affiliates
      of
      more than 4.9% of the outstanding shares of Common Stock on such date. This
      Section 6 may not be waived or amended. As used in this Warrant, beneficial
      ownership shall be determined in accordance with Section 13(d) of the Securities
      Exchange Act of 1934, as amended (the “Exchange Act”), and Regulation 13d-3
      thereunder.

     

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

    

     

    7.  Adjustment
      of Exercise Price and Number of Shares.
      The
      character of the shares of stock or other securities at the time issuable upon
      exercise of this Warrant and the Exercise Price therefore, are subject to
      adjustment upon the occurrence any of the following events which shall have
      occurred or which shall occur at any time on or after the Closing Date, as
      defined in the Purchase Agreement and regardless of whether any Warrants were
      issued on the Closing Date, and all such adjustments shall be
      cumulative:

     

    a.  Adjustment
      for Stock Splits, Stock Dividends, Recapitalizations, Etc.
      The
      Exercise Price of this Warrant and the number of shares of Common Stock or
      other
      securities at the time issuable upon exercise of this Warrant shall be
      appropriately adjusted to reflect any stock dividend, stock split, stock
      distribution, combination
      of shares,
      reverse
      split,
      reclassification, recapitalization or other similar event affecting the number
      of outstanding shares of stock or securities.

     

    b.  Adjustment
      for Reorganization, Consolidation, Merger, Etc.
      In case
      of any consolidation or merger of the Company with or into any other
      corporation, entity or person, or any other corporate reorganization, in which
      the Company shall not be the continuing or surviving entity of such
      consolidation, merger or reorganization (any such transaction being hereinafter
      referred to as a “Reorganization”),
      then, in
      each case, the holder of this Warrant, on exercise hereof at any time after
      the
      consummation or effective date of such Reorganization (the “Effective
      Date”),
      shall
      receive, in lieu of the shares of stock or other securities at any time issuable
      upon the exercise of the Warrant issuable on such exercise prior to the
      Effective Date, the stock and other securities and property (including cash)
      to
      which such holder would have been entitled upon the Effective Date if such
      holder had exercised this Warrant immediately prior thereto (all subject to
      further adjustment as provided in this Warrant). 

     

    c.  Certificate
      as to Adjustments.
      In case
      of any adjustment or readjustment in the price or kind of securities issuable
      on
      the exercise of this Warrant, the Company will promptly give written notice
      thereof to the holder of this Warrant in the form of a certificate, certified
      and confirmed by the Board of Directors of the Company, setting forth such
      adjustment or readjustment and showing in reasonable detail the facts upon
      which
      such adjustment or readjustment is based.

     

    d.  Sales
      of Common Stock at less than the Exercise Price. From
      the
      date hereof until such time as the Investors, as defined in the Purchase
      Agreement, hold no Securities, as defined in the Purchase Agreement, except
      for
      (i) Exempt Issuances, as defined in the Purchase Agreement, (ii) issuances
      covered by Sections 7(a), 7(b) and 7(e) hereof or (iii) an issuance of Common
      Stock upon exercise or upon conversion of warrants, options or other convertible
      securities for which an adjustment has already been made pursuant to this
      Section 7,
      as to
      all of which this Section 7(d) does not apply, if the Company closes on the
      sale
      or issuance of Common Stock at a price, or warrants, options, convertible debt
      or equity securities with an exercise price per share or a conversion price
      which is less than the Exercise Price then in effect, the Exercise Price shall
      be adjusted immediately thereafter so that it shall equal the price determined
      by multiplying the Exercise Price in effect immediately prior thereto by a
      fraction, the numerator of which shall be the sum of the number of shares of
      Common Stock outstanding immediately prior to the issuance of such additional
      shares and the number of shares of Common Stock which the aggregate
      consideration received or receivable for the issuance of such additional shares
      would purchase at the Exercise Price then in effect, and the denominator of
      which shall be the number of shares of Common Stock outstanding immediately
      after the issuance of such additional shares (including the exercise or
      conversion of all options, warrants and other convertible securities). Such
      adjustment shall be made successively whenever such an issuance is made. An
      adjustment pursuant to this Section 7(d) shall not result in any change in
      the
      number of shares of Common Stock issuable upon exercise of this Warrant.

     

    
      
        
        

      

      
        -
          4
          -

        
          

        

      

      
        
        

      

    

     

    e.  Price
      Adjustments
      Based on Pre-Tax Income
      per Share.
      

     

    
      	i.  	
              In
                the event the Company’s consolidated Pre-Tax Income, as defined in the
                Purchase Agreement, for the year ended December 31, 2007 is less
                than the
                Target Number per share, as defined in the Purchase Agreement, for
                2007,
                on a fully-diluted basis, then the Exercise Price shall be reduced
                by the
                percentage shortfall, up to a maximum of 50%. Thus, if Pre-Tax Income
                for
                the year ended December 31, 2007 is 30% per share on a fully-diluted
                basis
                less than the Target Number, the Exercise Price shall be reduced
                by 30%.
                Such reduction shall be made at the time the Company files its Form
                10-KSB
                for the year ended December 31, 2007, and shall apply to the Warrants
                which are outstanding on the date the Form 10-KSB is filed, or, if
                not
                filed on time, on the date that filing was required, after giving
                effect
                to any extension pursuant to Rule 12b-25 of the Exchange Act. In
                the event
                that the Form 10-KSB is not filed with the SEC within thirty (30)
                days
                after the date that filing was required, the Exercise Price shall
                automatically be reduced by 50%.

            

    

    
      	 	 

    

    
      	ii.  	
              In
                the event the Company’s consolidated Pre-Tax Income for the year ended
                December 31, 2008 is less than the Target Number per share, as defined
                in
                the Purchase Agreement, for 2008, on a fully-diluted basis, then
                the
                Exercise Price then in effect shall be reduced by the percentage
                shortfall, up to a maximum of 50%. Thus, if Pre-Tax Income for the
                year
                ended December 31, 2008 is 30% per share on a fully-diluted basis
                less
                than the Target Number, the Exercise Price shall be reduced by 30%.
                Such
                reduction shall be made at the time the Company files its Form 10-KSB
                for
                the year ended December 31, 2008, and shall apply to the Warrants
                which
                are outstanding on the date the Form 10-KSB is filed, or, if not
                filed on
                time, on the date that filing was required, after giving effect to
                any
                extension pursuant to Rule 12b-25 of the Exchange Act. In the event
                that
                the Form 10-KSB is not filed with the SEC within thirty (30) days
                after
                the date that filing was required, the Exercise Price shall automatically
                be reduced by 50%.

            

    

    
      	 	 

    

    
      	iii.  	
              For
                purpose of determining Pre-Tax Income Per Share on a fully-diluted
                basis,
                all shares of Common Stock issuable upon conversion of convertible
                securities and upon exercise of warrants and options (whether or
                not
                vested) shall be deemed to be outstanding, regardless of whether
                (i) such
                shares are treated as outstanding for determining diluted earnings
                per
                share under GAAP, (ii) such securities are “in the money,” or (iii) such
                shares may be issued as a result of the 4.9% Limitation; provided,
                however, that neither the shares of Series A Preferred Stock held
                in
                escrow pursuant to Section 6.15 or Section 6.25 of the Purchase Agreement
                nor the shares of Common Stock issuable upon conversion of such Series
                A
                Preferred Stock shall be deemed outstanding for purpose of this Section
                7(e) unless such shares were required to have been transferred to
                the
                Investors pursuant to the Closing Escrow Agreement, as defined in
                the
                Purchase Agreement.

            

    

    
    

     

    
      
         

      

      
        -
          5
          -

        
          

        

      

      
         

      

    

     

    
      	iv.  	
              An
                adjustment pursuant to Sections 7(d) or 7(e) of this Warrant shall
                not
                affect the number of shares of Common Stock issuable upon exercise
                of this
                Warrant.

            

    

     

    8.  Fractional
      Shares.
      The
      Company shall not be required to issue or cause to be issued fractional Warrant
      Shares on the exercise of this Warrant. The number of full Warrant Shares that
      shall be issuable upon the exercise of this Warrant shall be computed on the
      basis of the aggregate number of Warrants Shares purchasable on exercise of
      this
      Warrant so presented. If any fraction of a Warrant Share would, except for
      the
      provisions of this Section 8, be issuable on the exercise of this Warrant,
      the
      Company shall, at its option, (i) pay an amount in cash equal to the Exercise
      Price multiplied by such fraction or (ii) round the number of Warrant Shares
      issuable, up to the next whole number.

     

    9.  Sale
      or Merger of the Company.
      Upon
      a
Merger
      Transaction,
      the
      restriction contained in Section 6 shall immediately be released and the Warrant
      Holder will have the right to exercise this Warrant concurrently with such
      Merger
      Transaction.
      For
      purposes of this Warrant, the term “Merger
      Transaction”
shall
      mean a consolidation or merger of the Company into
      another company or entity in which the Company is not the surviving entity
      or
      the sale of all or substantially all of the assets of the Company to another
      company or entity not controlled by the then existing stockholders of the
      Company.

     

    10.  Notice
      of Intent to Sell or Merge the Company.
      The
      Company will give Warrant Holder ten (10) business days notice before
any
      Merger Transaction.

     

    11.  Issuance
      of Substitute Warrant.
      In the
      event of a merger, consolidation, recapitalization or reorganization of the
      Company or a reclassification of Company shares of stock, which results in
      an
      adjustment to the number of shares subject to this Warrant and/or the Exercise
      Price hereunder, the Company agrees to issue to the Warrant Holder a substitute
      Warrant reflecting the adjusted number of shares and/or Exercise Price upon
      the
      surrender of this Warrant to the Company.
      However,
      in the event that the Company does not issue a substitute warrant, the number
      and class of Warrant Shares or other securities and the Exercise Price shall
      be
      adjusted as provided in this Warrant, and this Warrant shall relate the adjusted
      number of Warrant Shares and Exercise Price.

     

    
      	12.  	
              Right
                of Redemption.

            

    

    
      	 	 

    

    
      	a.                i.	
                The
                Company shall have the right at any time, on written notice given
                not less
                than forty five (45) days prior to the Redemption Date, to redeem
                the
                outstanding Warrants at the Redemption Price of one cent ($.01) per
                share
                of Common Stock issuable upon exercise of the Warrants, provided
                the
                Market Price of the Common Stock shall equal or exceed the “Target Price”
                and the “Trading Volume” shall equal or exceed the “Target Volume” on each
                trading day in the twenty (20) trading days in the period ending
                on the
                trading day prior to the date that the Company calls the Warrants
                for
                redemption. Notice of redemption shall be mailed by first class mail,
                postage prepaid, and sent by telecopier and e-mail not later than
                three
                (3) business days after the date the Warrants are called for redemption,
                and shall be deemed given on the date of receipt of the notice by
                the
                Holder. All Warrants must be redeemed if any Warrants are redeemed;
                provided, however, that if the exercise by the Company of its right
                of
                redemption pursuant to this Section 12(a)(i) would result in a violation
                of the 4.9% Limitation, the Company shall not have the right to redeem
                the
                Holders’ Warrants to the extent that the exercise of the Warrants as to
                which the redemption notice is given would result in such a violation.
                In
                such event, the Company may subsequently exercise it right to redeem
                the
                remaining Warrants held by the Holder on and subject to the provisions
                of
                this Section 12(a)(i).

            

    

     

    
      
         

      

      
        -
          6
          -

        
          

        

      

      
         

      

    

    
    

     

    
      	ii.  	
              As
                used in this Section 12, the following terms shall have the meanings
                set
                forth below:

            

    

    
      	 	 

    

    
      	1.  	
              “Redemption
                Date” shall mean the date on which the Warrants are to be redeemed as set
                forth in the notice of redemption from the Company to the Holders
                of the
                Warrants, as the same may be extended pursuant to Section 12(b)(ii)
                of
                this Warrant.

            

    

    
      	 	 

    

    
      	2.  	
              “Market
                Price” shall mean the closing bid price of the Common Stock (as reported
                by Bloomberg L.P. or, if the Common Stock is traded on the Nasdaq
                Stock
                Market or the New York or American Stock Exchange, as reported by
                such
                market or exchange).

            

    

    
      	 	 

    

    
      	3.  	
              “Target
                Price” shall mean the greater of (x) one and 16/100 dollars ($1.16), which
                price shall be subject to adjustment for events described in Section
                7(a)
                of this Warrant, or (y) two hundred percent (200%) of the Exercise
                Price.

            

    

    
      	 	 

    

    
      	4.  	
              “Trading
                Volume” shall mean the trading volume in the Common Stock (as reported by
                Bloomberg L.P. or the Nasdaq Stock Market or the New York or American
                Stock Exchange, as the case may
                be).

            

    

    
      	 	 

    

    
      	5.  	
              “Target
                Volume” shall mean one thousand (1,000)
                shares.

            

    

    
      	 	 

    

    
      	b.  	
              Notwithstanding
                any other provision of this Section
                12:

            

    

    
      	 	 

    

    
      	i.  	
              The
                Company may only exercise the right of redemption pursuant to Section
                12(a)(i) of this Warrant if a registration statement covering the
                sale by
                the Holder of the shares of Common Stock issuable upon exercise of
                this
                Warrant is current and effective on each day in the period commencing
                on
                the first day of the twenty day period and ending sixty (60) days
                after
                the Redemption Date.

            

      	 	 

    

    
      	ii.  	
              In
                the event that, at any time subsequent to the date on which the Warrants
                are called for redemption and before the Redemption Date, the shares
                of
                Common Stock issuable upon exercise or conversion of the Warrants
                are not
                subject to a current and effective registration statement, the Company’s
                right to call the Warrants for redemption shall terminate with respect
                to
                all Warrants that have not then been exercised or converted. Nothing
                in
                the preceding sentence shall be construed to prohibit or restrict
                the
                Company from thereafter calling the Warrants for redemption in the
                manner
                provided for, and subject to the provisions of, this Section
                12.

            

    

     

    
      
         

      

      
        -
          7
          -

        
          

        

      

      
         

      

    

     

    
      	iii.  	
              The
                Redemption Date shall be postponed for two (2) trading days for each
                day
                after the Warrants are called for redemption that the Market Price
                of the
                Common Stock is less than the Target Price; provided, however, that
                if the
                Market Price shall be less than the Target Price for ten (10) consecutive
                trading days or fifteen (15) trading days during the period from
                the date
                the Warrants are called for redemption to the Redemption Date, the
                Company’s right to redeem any Warrants not theretofore exercised or
                converted shall terminate, subject to the right of the Company to
                call the
                remaining Warrants for redemption pursuant to this Section
                12.

            

      	 	 

    

    
      	c.  	
              The
                notice of redemption shall specify (i) the Redemption Price, (ii)
                the
                Redemption Date, (iii) the place where the Warrants shall be delivered
                and
                the Redemption Price shall be paid, (iv) the representation required
                by
                Section 12(b)(i), (v) the number of Warrants being called for redemption
                if less than all of the Warrants are being redeemed, and (vi) that
                the
                right to exercise the Warrants shall terminate at 5:30 p.m. (New
                York City
                time) on the trading day immediately preceding the Redemption Date.
                No
                failure to mail such notice nor any defect therein or in the mailing
                thereof shall affect the validity of the proceedings for such redemption
                except as to a Holder (x) to whom notice was not mailed or (y) whose
                notice was defective. An affidavit of the Chief Financial Officer
                of the
                Company that notice of redemption has been mailed shall, in the absence
                of
                fraud, be prima facie evidence of the facts stated
                therein.

            

      	 	 

    

    
      	d.  	
              Any
                right to exercise or convert a Warrant to the extent that the Warrant
                was
                called for redemption shall terminate at 5:30 p.m. (New York City
                time) on
                the Redemption Date. After such time, Holders of the Warrants shall
                have
                no further rights except to receive, upon surrender of the Warrant,
                the
                Redemption Price without interest, subject to the provisions of applicable
                laws relating to the treatment of abandoned property.
                

            

    

     

    13.  Notice.
      All
      notices and other communications hereunder shall be in writing and shall be
      deemed to have been given (i) on the date they are delivered if delivered in
      person; (ii) on the date initially received if delivered by facsimile
      transmission followed by registered or certified mail confirmation; (iii) on
      the
      date delivered by an overnight courier service; or (iv) on the date
      of
      delivery
      after it
      is mailed by registered or certified mail, return receipt requested with postage
      and other fees prepaid as follows:

     

    If
      to
      the Company:

     

    Malex,
      Inc.

    c/o
      Greenpower Environmental Technologies, Inc. 

    Qianzhou
      Town, Wuxi City

    Jiangsu,
      PRC 214181

    Attention:
      Wu Jian-Hua

    

    
      
         

      

      
        -
          8
          -

        
          

        

      

      
         

      

    

     

    With
      a
      copy to:

     

    Richardson
      & Patel LLP

    10900
      Wilshire Boulevard, Suite 500

    Los
      Angeles, CA 90024

    Attention:
      Kevin L. Leung

    E-mail:
      kleung@richardsonpatel.com

    Fax:
      (310) 208-1154

    

    Sichenzia
      Ross Friedman Ference LLP

    61
      Broadway, 32 Floor

    New
      York,
      New York 10006

    Attention:
      Asher S. Levitsky PC

    E-mail:
      alevitsky@srff.com

    Fax:
      (212) 930-9725

     

    If
      to
      the Warrant Holder:

    

    at
      the
      address or telecopier number and to the attention of the person shown on the
      Company’s warrant register.:

     

    
      	14.  	
              Miscellaneous.

            

    

     

    a.  This
      Warrant shall be binding on and inure to the benefit of the parties hereto
      and
      their respective successors and permitted assigns. This Warrant may be amended
      only by a writing signed by the Company and the Warrant Holder.

     

    b.  Nothing
      in this Warrant shall be construed to give to any person or corporation other
      than the Company and the Warrant Holder any legal or equitable right, remedy
      or
      cause of action under this Warrant; this Warrant shall be for the sole and
      exclusive benefit of the Company and the Warrant Holder.

     

    c.  This
      Warrant shall be governed by, construed and enforced in accordance with the
      internal laws of the State of New York without regard to the principles of
      conflicts of law thereof.

     

    d.  The
      headings herein are for convenience only, do not constitute a part of this
      Warrant and shall not be deemed to limit or affect any of the provisions
      hereof.

     

    e.  In
      case
      any one or more of the provisions of this Warrant shall be invalid or
      unenforceable in any respect, the validity and enforceability of the remaining
      terms and provisions of this Warrant shall not in any way be affected or
      impaired thereby and the parties will attempt in good faith to agree upon a
      valid and enforceable provision which shall be a commercially reasonably
      substitute therefore, and upon so agreeing, shall incorporate such substitute
      provision in this Warrant.

     

    f.  The
      Warrant Holder shall not, by virtue hereof, be entitled to any voting or other
      rights of a stockholder of the Company, either at law or equity, and the rights
      of the Warrant Holder are limited to those expressed in this
      Warrant.

     

    
      
         

      

      
        -
          9
          -

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by
      the
      authorized officer as of the date first above stated.

    

    
      	
              Date:
                November 13, 2007

            	
              MALEX,
                INC.

            
	 	 
	 	
              By:
                

            	 	 
	 	
              Name:

            	
              Wu
                Jian-Hua

            
	 	
              Title:

            	
              Chief
                Executive Officer

            

    

     

    
      
         

      

      
        -
          10
          -

        
          

        

      

      
         

      

    

     

    FORM
      OF ELECTION TO PURCHASE

    

    (To
      be
      executed by the Warrant Holder to exercise the right to purchase shares of
      Common Stock under the foregoing Warrant)

    

    To:
      Malex,
      Inc.:

    

    In
      accordance with the Warrant enclosed with this Form of Election to Purchase,
      the
      undersigned hereby irrevocably elects to purchase ______________ shares of
      Common Stock (“Common Stock”), $.001 par value, of Malex, Inc. and encloses the
      warrant and $____ for each Warrant Share being purchased or an aggregate of
      $________________ in cash or certified or official bank check or checks, which
      sum represents the aggregate Exercise Price (as defined in the Warrant) together
      with any applicable taxes payable by the undersigned pursuant to the
      Warrant.

    

    The
      undersigned requests that certificates for the shares of Common Stock issuable
      upon this exercise be issued in the name of:

    

    
      	 	 
	 	 
	 	 
	
              (Please
                print name and address)

            	 
	 	 
	 	 
	
              (Please
                insert Social Security or Tax Identification Number)

            	 

    

    

    If
      the
      number of shares of Common Stock issuable upon this exercise shall not be all
      of
      the shares of Common Stock which the undersigned is entitled to purchase in
      accordance with the enclosed Warrant, the undersigned requests that a New
      Warrant (as defined in the Warrant) evidencing the right to purchase the shares
      of Common Stock not issuable pursuant to the exercise evidenced hereby be issued
      in the name of and delivered to:

    

    
      	 	 
	 	 
	 	 
	
              (Please
                print name and address)

            	 

    

     

    

      
        	
                Dated:

              	 	 	
                Name
                  of Warrant Holder:

              
	 	 
	 	
                (Print)

              	 
	 	 	 
	 	
                (By:)

              	 
	 	 	 
	 	 	 
	 	
                (Name:)

              	 
	 	 	 
	 	
                (Title:)

              	 
	 	 	 
	 	
                Signature
                  must conform in all respects to name of Warrant Holder as specified
                  on the
                  face of the Warrant

              

      

    

     

    
      

        
          
             

          

          
            -
              11
              -

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