Document:

EXHIBIT 10.78
                          Registration Rights Agreement
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Name                               Date                      Signatory
<S>                                <C>                     <C>
Alfred Hahnfeldt *                 Oct 01. 1999            Alfred Hahnfeldt
Southridge Capital Management LLC  Oct 01. 1999
Striker Capital Ltd.               Oct 01. 1999

Alfred Hahnfeldt *                 Nov 01. 1999            Alfred Hahnfeldt
Southridge Capital Management LLC  Nov 01. 1999
Striker Capital Ltd.               Nov 01. 1999
</TABLE>

*    This document has been filed.

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                          REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION  RIGHTS  AGREEMENT,  dated  as of October 19, 1999, (This
Agreement"))  is made by and  between  SWISSRAY  INTERNATIONAL,  INC. a New York
corporation (the  "Company"),  and the person named on the signature page hereto
(the "Initial Investor").

                                   WITNESSETH:

     WHEREAS, upon the terms and subject to the conditions,  of the Subscription
Agreement  between  the Initial  Investor  and the  Company  (the  "Subscription
Agreement"),  the Company  has agreed to issue and sell to the Initial  Investor
1,000,000 shares of the company's  common stock,  $.01 par value (the "Shares"),
of the  Company  upon the terms and subject to the  conditions  set forth in the
Subscription Agreement; and

     WHEREAS,  to induce  the  Initial  Investor  to  execute  and  deliver  the
Subscription  Agreement,  the Company has agreed to provide certain registration
rights  under  the  Securities  Act of  1933,  as  amended,  and the  rules  and
regulations  thereunder,  or any similar  successor statute  (collectively,  the
"Securities  Act"),  and applicable  state  securities  laws with respect to the
Conversion Shares;

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
contained  herein and other good and  valuable  consideration,  the  receipt and
sufficiency  of which are  hereby  acknowledged,  the  Company  and the  Initial
Investor hereby agrees as follows:

     1. Definitions.

     (a) As used in this Agreement, the following terms shall have the following
meaning:

     (i)  "Closing  Date" means the date the funds are wired out per the Company
or its attorney's  written  instructions,  which the parties agree  was  October
19,1999.

     (ii) "Investor"  means the Initial  Investor and any transferee or assignee
who agrees to become bound by the  provisions  of this  Agreement in  accordance
with Section 9 hereof.

     (iii) "Register,"  "Registered" and "Registration"  refer to a registration
effected by  preparing  and filing a  Registration  Statement or  Statements  in
compliance with the Securities Act and pursuant to Rule 415 under the Securities
Act or any  successor  rule  providing  for offering  securities on a continuous
basis ("Rule 415"),  and the  declaration or ordering of  effectiveness  of such
Registration

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Statement by the United States Securities and Exchange Commission (the "SEC").

     (iv) "Registrable Securities" means the Shares.

     (v) "Registration  Statement" means a registration statement of the Company
under the Securities Act.

     (b) As used in this Agreement, the term Investor includes (i) each Investor
(as  defined  above)  and (ii) each  person  who is a  permitted  transferee  or
assignee of the Registrable Securities pursuant to Section 9 of this Agreement.

     (c)  Capitalized  terms used herein and not otherwise  defined herein shall
have the respective meanings set forth in the Subscription Agreement.

     2. Registration.

     (a)  Mandatory  Registration.  The  Company  hereby  grants to the  Initial
Investor   piggy-back   registration   rights  in  the  Company's   most  recent
Registration  Statement.  The Company shall include in its current  Registration
Statement the Registrable  Securities.  Such Registration  Statement shall state
that, in accordance with the Securities  Act, it also covers such  indeterminate
number of  additional  shares of Common Stock as may become  issuable to prevent
dilution resulting from Stock splits, or stock dividends.

     (b)  Underwritten  Offering.  If any  offering  pursuant to a  Registration
Statement pursuant to Section 2(a) hereof involves an underwritten offering, the
Investors acting by majority in interest of the Registrable  Securities  subject
to such  underwritten  offering shall have the right to select one legal counsel
to represent their interests, and an investment banker or bankers and manager or
managers to  administer  the  offering,  which  investment  banker or bankers or
manager  or  managers  shall be  reasonably  satisfactory  to the  Company.  The
Investors  who  hold  the   Registrable   Securities  to  be  included  in  such
underwriting shall pay all underwriting discounts and commissions and other fees
and  expenses  of such  investment  banker or bankers and manager or managers so
selected in  accordance  with this  Section  2(b) (other than fees and  expenses
relating  to  registration  of  Registrable  Securities  under  federal or state
securities  laws, which are payable by the Company pursuant to Section 5 hereof)
with respect to their  Registrable  Securities and the fees and expenses of such
legal counsel so selected by the Investors.

     (c) Payment by the  Company.  If the  Registration  Statement  covering the
Registrable  Securities  required to be filed by the Company pursuant to Section
2(a) hereof is not declared effective within ninety (90) calendar days following
the  Closing  Date,  then the Company  shall pay the Initial  Investor 2% of the
purchase  price paid by the  Initial  Investor  for the  Registrable  Securities

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pursuant to the Subscription  Agreement for every thirty day period,  or portion
thereof,  following the ninety (90)  calendar day period until the  Registration
Statement is declared  effective.  Notwithstanding  the  foregoing,  the amounts
payable by the Company  pursuant to this  provision  shall not be payable to the
extent any delay in the  effectiveness  of the  Registration  Statement,  occurs
because  of an act of,  or a  failure  to act or to act  timely  by the  Initial
Investor or its counsel.  The above damages shall  continue until the obligation
is fulfilled  and shall be paid within 5 business days after each 30 day period,
or portion  thereof,  until the  Registration  Statement is declared  effective.
Failure of the  Company to make  payment  within  said 5 business  days shall be
considered a default.

     The  Company  acknowledges  that  its  failure  to  have  the  Registration
Statement  declared  effective  within  said  ninety  (90)  calendar  day period
following the Closing Date, will cause the Initial Investor to suffer damages in
an amount that will be difficult to  ascertain.  Accordingly,  the parties agree
that it is  appropriate  to include in this Agreement a provision for liquidated
damages. The parties acknowledge and agree that the liquidated damages provision
set forth in this section  represents the parties' good faith effort to quantify
such  damages  and, as such,  agree that the form and amount of such  liquidated
damages  are  reasonable  and will not  constitute  a  penalty.  The  payment of
liquidated  damages  shall not  relieve  the  Company  from its  obligations  to
register the Common Stock and deliver the Common Stock  pursuant to the terms of
this Agreement and the Subscription  Agreement.

     3. Obligation of the Company.  In connection  with the  registration of the
Registrable Securities, the Company shall do each of the following:

     (a) Either  include the  Registrable  Securities in the  Company's  current
Registration   Statement  or  file  an  amendment  to  the   Company's   current
Registration Statement to include the Registrable Securities, and thereafter use
its best efforts to cause such  Registration  Statement  relating to Registrable
Securities  to become  effective  the  earlier of (i) five  business  days after
notice  from the  Securities  and  Exchange  Commission  that  the  Registration
Statement may be declared  effective,  or (b) ninety (90) days after the Closing
Date,  and keep the  Registration  Statement  effective  at all times  until the
earliest (the "Registration Period") of (i) the date that is two years after the
Closing  Date  (ii)  the  date  when the  Investors  may  sell  all  Registrable
Securities  under Rule 144 or (iii) the date the  Investors no longer own any of
the  Registrable   Securities,   which  Registration  Statement  (including  any
amendments or supplements thereto and prospectuses  contained therein) shall not
contain any untrue statement of a material fact or omit to state a material fact
required to be stated  therein or necessary to make the statements  therein,  in
light of the circumstances in which they were made, not misleading;

     (b) Prepare and file with the SEC such amendments (including post-effective
amendments) and supplements to the Registration Statement and the

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prospectus  used  in  connection  with  the  Registration  Statement  as  may be
necessary  to  keep  the   Registration   effective  at  all  times  during  the
Registration  Period,  and,  during the  Registration  Period,  comply  with the
provisions  of  the  Securities  Act  with  respect  to the  disposition  of all
Registrable  Securities  of the Company  covered by the  Registration  Statement
until such time as all of such  Registrable  Securities have been disposed of in
accordance  with the intended  methods of  disposition  by the seller or sellers
thereof as set forth in the Registration Statement;

     (c) Furnish to each Investor whose  Registrable  Securities are included in
the Registration  Statement and its legal counsel identified to the Company, (i)
promptly  after the same is prepared  and publicly  distributed,  filed with the
SEC, or received by the  Company,  one (1) copy of the  Registration  Statement,
each  preliminary  prospectus and  prospectus,  and each amendment or supplement
thereto, and (ii) such number of copies of a prospectus, including a preliminary
prospectus, and all amendments and supplements thereto and such other documents,
as such Investor may reasonably  request in order to facilitate the  disposition
of the Registrable Securities owned by such Investor;

     (d) Use  reasonable  efforts to (i)  register  and qualify the  Registrable
Securities covered by the Registration  Statement under such other securities or
blue sky laws of such  jurisdictions  as the  Investors  who hold a majority  in
interest of the Registrable  Securities being offered  reasonably request and in
which significant volumes of shares of Common Stock are traded, (ii) prepare and
file  in  those   jurisdictions   such  amendments   (including   post-effective
amendments) and supplements to such  registrations and  qualifications as may be
necessary  to  maintain  the  effectiveness  thereof  at all  times  during  the
Registration  Period,  (iii) take such  other  actions  as may be  necessary  to
maintain such  registrations and qualification in effect at all times during the
Registration  Period,  and (iv) take all other actions  reasonably  necessary or
advisable to qualify the Registrable  Securities for sale in such jurisdictions:
provided,  however,  that  the  Company  shall  not be  required  in  connection
therewith  or as a  condition  thereto  to (A)  qualify  to do  business  in any
jurisdiction  where it would not  otherwise  be required to qualify but for this
Section 3(d), (B) subject itself to general  taxation in any such  jurisdiction,
(C) file a general consent to service of process in any such  jurisdiction,  (D)
provide any  undertakings  that cause more than nominal expense or burden to the
Company or (E) make any change in its  articles of  incorporation  or by-laws or
any then  existing  contracts,  which in each case the Board of Directors of the
Company  determines to be contrary to the best  interests of the Company and its
stockholders;

     (e) As promptly as practicable  after becoming aware of such event,  notify
each Investor of the happening of any event of which the Company has  knowledge,
as a result of which the prospectus included in the Registration  Statement,  as
then in effect,  includes any untrue  statement  of a material  fact or omits to
state a  material  fact  required  to be stated  therein  or  necessary  to make

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the  statements  therein,  in light of the  circumstances  under which they were
made, not misleading, and uses its best efforts promptly to prepare a supplement
or amendment to the Registration  Statement or other appropriate filing with the
SEC to correct such untrue statement or omission, and deliver a number of copies
of such supplement or amendment to each Investor as such Investor may reasonably
request;

     (f) As promptly as practicable  after becoming aware of such event,  notify
each Investor who holds  Registrable  Securities being sold (or, in the event of
an underwritten  offering, the managing underwriters) of the issuance by the SEC
of any  notice of  effectiveness  or any stop order or other  suspension  of the
effectiveness of the Registration Statement at the earliest possible time;

     (g) Use its commercially  reasonable  efforts,  if eligible,  either to (i)
cause all the Registrable Securities covered by the Registration Statement to be
listed  on a  national  securities  exchange  and on  each  additional  national
securities  exchange on which  securities  of the same class or series issued by
the  Company  are  then  listed,  if any,  if the  listing  of such  Registrable
Securities is then permitted  under the rules of such  exchange,  or (ii) secure
designation  of all  the  Registrable  Securities  covered  by the  Registration
Statement as a National  Association of Securities Dealers Automated  Quotations
System ("NASDAQ") "Small  Capitalization"  within the meaning of Rule 11Aa2-1 of
the SEC under the  Securities  Exchange Act of 1934,  as amended (the  "Exchange
Act"),  and the quotation of the Registrable  Securities on the The Nasdaq Stock
Market or if, despite the Company's  commercially  reasonable efforts to satisfy
the preceding  clause (i) or (ii), the Company is  unsuccessful  in doing so, to
secure NASD  authorization and quotation for such Registrable  Securities on the
over-the-counter  bulletin  board and,  without  limiting the  generality of the
foregoing,  to  arrange  for at least two  market  makers to  register  with the
National  Association of Securities Dealers,  Inc. ("NASD") as such with respect
to such Registrable Securities;

     (h) Provide a transfer agent for the Registrable  Securities not later than
the effective date of the Registration Statement;

     (i)  Cooperate  with the Investors who hold  Registrable  Securities  being
offered to facilitate the timely  preparation and delivery of  certificates  for
the Registrable  Securities to be offered pursuant to the Registration Statement
and  enable  such  certificates  for the  Registrable  Securities  to be in such
denominations  or amounts as the case may be, as the  Investors  may  reasonably
request and registration in such names as the Investors may request; and, within
five (5) business days after a Registration Statement which includes Registrable
Securities is ordered effective by the SEC, the Company shall deliver, and shall
cause legal counsel  selected by the Company to deliver,  to the transfer  agent
for the Registrable  Securities (with copies to the Investors whose  Registrable
Securities are included in such Registration Statement) a form of appropriate

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instruction and opinion of such counsel  acceptable for use for each conversion;
and

     (j) Take all other reasonable  actions necessary to expedite and facilitate
distribution  to the  Investor  of the  Registrable  Securities  pursuant to the
Registration Statement.

     4. Obligations of the Investors. In connection with the registration of the
Registrable Securities, the Investors shall have the following obligations;

     (a) It shall be a condition  precedent to the obligations of the Company to
complete  the  registration  pursuant  to this  Agreement  with  respect  to the
Registrable  Securities of a particular Investor that such Investor shall timely
furnish to the  Company  such  information  regarding  itself,  the  Registrable
Securities held by it, and the intended method of disposition of the Registrable
Securities  held  by  it,  as  shall  be  reasonably   required  to  effect  the
registration  of such  Registrable  Securities  and shall  timely  execute  such
documents in connection  with such  registration  as the Company may  reasonably
request.  At least five (5) days prior to the first  anticipated  filing date of
the  Registration  Statement,  the Company  shall  notify  each  Investor of the
information  the  Company  requires  from each  such  Investor  (the  "Requested
Information") if such Investor elects to have any of such Investor's Registrable
Securities included in the Registration  Statement. If at least two (2) business
days  prior to the  filing  date the  Company  has not  received  the  Requested
Information from an Investor (a "Non-Responsive Investor"), then the Company may
file the Registration Statement without including Registrable Securities of such
Non-Responsive Investor;

     (b)  Each  Investor  by  such  Investor's  acceptance  of  the  Registrable
Securities  agrees to cooperate with the Company as reasonably  requested by the
Company  in  connection  with the  preparation  and  filing of the  Registration
Statement hereunder, unless such Investor has notified the Company in writing of
such  Investor's  election  to  exclude  all  of  such  Investor's   Registrable
Securities from the Registration Statement; and

     (c) Each Investor agrees that, upon receipt of any notice `from the Company
of the  happening  of any event of the kind  described  in Section 3(e) or 3(f),
above,  such Investor will  immediately  discontinue  disposition of Registrable
Securities  pursuant to the  Registration  Statement  covering such  Registrable
Securities  until such Investor's  receipt of the copies of the  supplemented or
amended  prospectus  contemplated by Section 3(e) or 3(f) and, if so directed by
the Company,  such investor  shall deliver to the Company (at the expense of the
Company) or destroy (and deliver to the Company a  certificate  of  destruction)
all  copies in such  Investor's  possession,  of the  prospectus  covering  such
Registrable   Securities  current  at  the  time  of  receipt  of  such  notice.

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     5.  Expenses  of  Registration.   All  reasonable   expenses,   other  than
underwriting   discounts   and   commissions   incurred   in   connection   with
registrations,  filing or  qualifications  pursuant to Section 3, but including,
without  limitations,  all  registration,   listing,  and  qualifications  fees,
printers and  accounting  fees,  the fees and  disbursements  of counsel for the
Company, shall be borne by the Company.

     6. Indemnification. In the event any Registrable Securities are included in
a Registration Statement under this Agreement:

     (a) To the extent  permitted by law, the Company  will  indemnify  and hold
harmless each Investor who holds such Registrable Securities,  the directors, if
any, of such Investor,  the officers, if any, of such Investor,  each person, if
any, who controls any Investor  within the meaning of the  Securities Act or the
Exchange  Act (each,  an  "Indemnified  Person"),  against any  losses,  claims,
damages,  liabilities  or  expenses  joint or several)  incurred  (collectively,
"Claims") to which any of them may become subject under the Securities  Act, the
Exchange Act or  otherwise,  insofar as such Claims (or actions or  proceedings,
whether  commenced or threatened,  in respect thereof) arise out of or are based
upon  any  of  the  following   statements,   omissions  or  violations  of  the
Registration   Statement  or  any  post-effective   amendment  thereof,  or  any
prospectus  included  therein:  (i)  any  untrue  statement  or  alleged  untrue
statement  of a material  fact  contained in the  Registration  Statement or any
post-effective  amendment  thereof  or any  prospectus  included  therein or 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,  (ii)
any untrue statement or alleged untrue statement of a material fact contained in
any  preliminary  prospectus  if  used  prior  to the  effective  date  of  such
Registration  Statement,  or  contained in the final  prospectus  (as amended or
supplemented,  if the Company files any amendment thereof or supplement  thereto
with the SEC) or the omission or alleged  omission to state therein any material
fact  necessary  to  make  the  statements   made  therein,   in  light  of  the
circumstances  under which the  statements  therein were made, not misleading or
(iii) any violation or alleged  violation by the Company of the Securities  Act,
the Exchange Act, any state  securities law or any rule or regulation under the
Securities Act, the Exchange Act or any state securities law (the matters in the
foregoing  clauses (i) through  (iii) being,  collectively,  "Violations").  The
Company shall reimburse the Investors,  promptly,  as such expenses are incurred
and are due and  payable,  for any  reasonable  legal  fees or other  reasonable
expenses incurred by them in connection with investigating or defending any such
Claim.   Notwithstanding   anything  to  the  contrary   contained  herein,  the
indemnification  agreement contained in this Section 6(a) shall not (i) apply to
a Claim  arising out of or based upon a Violation  which occurs in reliance upon
and in conformity with information  furnished in writing to the Company by or on
behalf  of any  Indemnified  Person  expressly  for use in  connection  with the
preparation  of the  Registration  Statement  or any such  amendment  thereof or
supplement thereto, if such prospectus was timely made available by the

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Company  pursuant to Section 3(b) hereof;  (ii) with respect to any  preliminary
prospectus,  inure  to the  benefit  of any such  person  from  whom the  person
asserting  any such Claim  purchased  the  Registrable  Securities  that are the
subject thereof (or to the benefit of any person controlling such person) if the
untrue  statement  or omission of material  fact  contained  in the  preliminary
prospectus was corrected in the prospectus, as then amended or supplemented,  if
such  prospectus  was timely made  available by the Company  pursuant to Section
3(b)  hereof;  (iii) be available to the extent such Claim is based on a failure
of the  Investor  to  deliver  or  cause to be  delivered  the  prospectus  made
available by the Company;  or (iv) apply to amounts  paid in  settlement  of any
Claim if such  settlement is effected  without the prior written  consent of the
Company,  which consent shall not be unreasonably  withheld.  Each Investor will
indemnify the Company,  its officers,  directors and agents (including  Counsel)
against  any claims  arising out of or based upon a  Violation  which  occurs in
reliance upon and in  conformity  with  information  furnished in writing to the
Company, by or on behalf of such Investor,  expressly for use in connection with
the preparation of the Registration  Statement,  subject to such limitations and
conditions as are applicable to the  Indemnification  provided by the Company to
this Section 6. Such indemnity shall remain in full force and effect  regardless
of any  investigation  made by or on behalf of the Indemnified  Person and shall
survive the transfer of the Registrable  Securities by the Investors pursuant to
Section 9.

     (b) Promptly  after receipt by an Indemnified  Person or Indemnified  Party
under this Section 6 of notice of the commencement of any action  (including any
governmental  action),  such Indemnified Person or Indemnified Party shall, if a
Claim in respect thereof is to be made against any indemnifying party under this
Section  6,  deliver  to  the  indemnifying   party  a  written  notice  of  the
commencement  thereof  and the  indemnifying  party  shall  have  the  right  to
participate in, and, to the extent the  indemnifying  party so desires,  jointly
with any other indemnifying  party similarly  noticed,  to assume control of the
defense thereof with counsel mutually satisfactory to the indemnifying party and
the Indemnified  Person or the Indemnified  Party, as the case may be; provided,
however, that an Indemnified Person or Indemnified Party shall have the right to
retain its own counsel with the  reasonable  fees and expenses to be paid by the
indemnifying  party,  if, in the reasonable  opinion of counsel  retained by the
indemnifying party, the representation by such counsel of the Indemnified Person
or Indemnified  Party and the indemnifying  party would be inappropriate  due to
actual or  potential  differing  interests  between such  Indemnified  Person or
Indemnified  Party and any  other  party  represented  by such  counsel  in such
proceeding.  In such event,  the Company  shall pay for only one separate  legal
counsel for the Investors; such legal counsel shall be selected by the Investors
holding a majority  in interest of the  Registrable  Securities  included in the
Registration  Statement  to which the Claim  relates.  The  failure  to  deliver
written  notice  to the  indemnifying  party  within  a  reasonable  time of the
commencement of any such action shall not relieve such indemnifying party of any
liability to the

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Indemnified  Person or  Indemnified  Party  under this  Section 6, except to the
extent that the  indemnifying  party is prejudiced in its ability to defend such
action. The indemnification required by this Section 6 shall be made by periodic
payments  of the  amount  thereof  during  the  course of the  investigation  or
defense,  as such expense,  loss, damage or liability is incurred and is due and
payable.

     7. Contribution. To the extent any indemnification by an indemnifying party
is  prohibited  or limited by law,  the  indemnifying  party  agrees to make the
maximum contribution with respect to any amounts for which it would otherwise be
liable  under  Section 6 to the  fullest  extent  permitted  ,by law;  provided,
however,  that (a) no contribution shall be made under  circumstances  where the
maker would not have been liable for  indemnification  under the fault standards
set  forth in  Section  6; (b) no  seller of  Registrable  Securities  guilty of
fraudulent  misrepresentation  (within  the  meaning  of  Section  11(1)  of the
Securities Act) shall be entitled to contribution from any seller of Registrable
Securities  who was not  guilty of such  fraudulent  misrepresentation;  and (c)
contribution by any seller of Registrable  Securities shall be limited in amount
to the net amount of  proceeds  received  by such  seller  from the sale of such
Registrable Securities.

     8.  Reports  under  Exchange  Act.  With a view to making  available to the
Investors the benefits of Rule 144  promulgated  under the Securities Act or any
other  similar  rule or  regulation  of the SEC that may at any time  permit the
Investors to sell  securities of the Company to the public without  registration
("Rule 144"), the Company agrees to use its reasonable best efforts to:

     (a)  make  and keep  public  information  available,  as  those  terms  are
understood and defined in Rule 144;

     (b) file with the SEC in a timely  manner all reports  and other  documents
required of the Company under the Securities Act and the Exchange Act; and

     (c) furnish to each  Investor  so long as such  Investor  owns  Registrable
Securities,  promptly upon request,  (i) a written statement by the Company that
it has complied with the reporting  requirements of Rule 144, the Securities Act
and the Exchange Act, (ii) a copy of the most recent annual or quarterly  report
of the Company and such other  reports and documents so filed by the Company and
(iii)  such  other  information  as may be  reasonably  requested  to permit the
Investors to sell such securities pursuant to Rule 144 without registration.

     9. Assignment of the  Registration  Rights.  The rights to have the Company
register   Registrable   Securities   pursuant  to  this   Agreement   shall  be
automatically  assigned by the Investors to any transferee of in excess of fifty
(50%) percent or more of the  Registrable  Securities  (or all or any portion of
any

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Debenture of the Company which is convertible into such securities) only if: (a)
the Investor  agrees in writing with the  transferee  or assignee to assign such
rights,  and a copy of such  agreement  is  furnished  to the  Company  within a
reasonable time after such  assignment,  (b) the Company is, within a reasonable
time after such transfer or assignment, furnished with written notice of (i) the
name and address of such  transferee  or assignee and (ii) the  securities  with
respect to which such registration rights are being transferred or assigned, (c)
immediately  following  such transfer or assignment  the further  disposition of
such securities by the transferee or assignee is restricted under the Securities
Act and  applicable  state  securities  laws,  and (d) at or before the time the
Company received the written notice  contemplated by clause (b) of this sentence
the transferee or assignee agrees in writing with the Company to be bound by all
of the  provisions  contained  herein.  In the  event of any  delay in filing or
effectiveness of the Registration Statement as a result of such assignment,  the
Company  shall not be liable for any damages  arising  from such  delay,  or the
payments set forth in Section 2(c) hereof.

     10. Amendment of Registration  Rights.  Any provision of this Agreement may
be amended and the observance  thereof may be waived  (either  generally or in a
particular  instance and either  retroactively or prospectively),  only with the
written  consent of the Company and investors who hold a majority in interest of
the Registrable Securities.  Any amendment or waiver effected in accordance with
this Section 10 shall be binding upon each Investor and the Company.

     11. Miscellaneous.

     (a) A person or entity is deemed to be a holder of  Registrable  Securities
whenever such person or entity owns of record such  Registrable  Securities.  If
the Company received conflicting instructions,  notices or elections from two or
more persons or entities with respect to the same  Registrable  Securities,  the
Company shall act upon the basis of  instructions,  notice or election  received
from the registered owner of such Registrable Securities.

     (b) Notices required or permitted to be given hereunder shall be in writing
and shall be deemed to be sufficiently given when personally delivered (by hand,
by courier,  by telephone line facsimile  transmission,  receipt  confirmed,  or
other means) or sent by  certified  mail,  return  receipt  requested,  properly
addressed  and with proper  postage  pre-paid  (i) if to the  Company,  SWISSRAY
International,  Inc.,  320 West 77th Street,  Suite 1A, New York, New York 10024
with copy by fax and mail to Gary B. Wolff, P.C., 747 Third Avenue,  25th Floor,
New York, NY 10017;  (ii) if to the Initial  Investor,  at the address set forth
under  its name in the  Subscription  Agreement,  with a copy to its  designated
attorney and (iii) if to any other  Investor,  at such address as such  Investor
shall have provided in writing to the Company,  or at such other address as each
such party furnishes by notice given in accordance with this Section 11(b),  and
shall be effective,

                                       10
<PAGE>

when  personally  delivered,  upon receipt and, when so sent by certified  mail,
four (4) business days after deposit with the United States Postal Service.

     (c)  Failure  of any party to  exercise  any  right  or remedy  under  this
Agreement or otherwise,  or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

     (d) This Agreement  shall be governed by and interpreted in accordance with
the  laws  of the  State  of New  York.  Each  of the  parties  consents  to the
jurisdiction  of the  state  and  federal  courts  of the  State  of New York in
connection with any dispute  arising under this Agreement and hereby waives,  to
the maximum  extent  permitted by law, any  objection,  including  any objection
based on forum non  coveniens,  to the bringing of any such  proceeding  in such
jurisdictions.  A facsimile transmission of this signed Agreement shall be legal
and binding on all parties  hereto.  This Agreement may be signed in one or more
counterparts,  each of which shall be deemed an  original.  The headings of this
Agreement are for convenience of reference and shall not form part of, or affect
the interpretation of, this Agreement.  If any provision of this Agreement shall
be  invalid  or   unenforceable   in  any   jurisdiction,   such  invalidity  or
unenforceability  shall  not  effect  the  validity  or  enforceability  of  the
remainder of this Agreement or the validity or  enforceability of this Agreement
in any other  jurisdiction.  This Agreement may be amended only by an instrument
in writing signed by the party to be charged with enforcement.

     (e) This Agreement  constitutes  the entire  agreement  among the,  parties
hereto with respect to the subject  matter  hereof.  There are no  restrictions,
promises, warranties or undertakings,  other than those set forth or referred to
herein. This Agreement  supersedes all prior agreements and understandings among
the parties hereto with respect to the subject matter hereof.

     (f) Subject to the  requirements of Section 9 hereof,  this Agreement shall
inure to the benefit of and be binding upon the  successors  and assigns of each
of the parties hereto.

     (g) All  pronouns  and  any  variations  thereof  refer  to the  masculine,
feminine or neuter, singular or plural, as the context may require.

     (h) The headings in this  Agreement are for  convenience  of reference only
and shall not limit or otherwise affect the meaning thereof

     (i) This  Agreement  may be executed in two or more  counterparts,  each of
which shall be deemed an original but all of which shall  constitute one and the
same agreement.  This Agreement,  once executed by a party,  may be delivered to
the other party hereto by telephone  line  facsimile  transmission  of a copy of
this Agreement bearing the signature of the party so delivering this Agreement.

                                       11
<PAGE>

     IN WITNESS  WHEREOF,  the  parties  have caused  this  Registration  Rights
Agreement  to be duly  executed  by their  respective  officers  thereunto  duly
authorized  as of the day and year first above  written.

                                                SWISSRAY  INTERNATIONAL, INC.

                                                By: /s/ Ruedi G. Laupper
                                                   --------------------------
                                                Name: Ruedi G. Laupper
                                                Title: Chairman and President

                                                By:__________________________
                                                Name:
                                                Title:

                                       12
<PAGE>

     IN WITNESS  WHEREOF,  the  parties  have caused  this  Registration  Rights
officers  thereunto  duly  Agreement  to be duly  executed  by their  respective
authorized as of the day and year first above written.

                                                SWISSRAY INTERNATIONAL, INC.

                                                By: _________________________
                                                Name: Ruedi G. Laupper
                                                Title: Chairman and President

                                                PARKDALE LLC

                                                By: /s/ ILLEGIBLE
                                                   ---------------------------
                                                Name: Navigator Management Ltd.
                                                Title: Director

                                       12EXHIBIT 10.79
                              Agreement to Purchase

Name               Date                    Amount             Signatory
----               ----                    ------             ---------

Parkdale LLC       Sept. 2, 1999           $4,000,000         David Sims

     This document has been filed.

<PAGE>

                          AGREEMENT TO PURCHASE SHARES

     THIS AGREEMENT TO PURCHASE  SHARES (the  "Agreement") is entered into as of
this 2nd day of September,  1999, by and between  Swissray  International,  Inc.
(hereinafter "Swissray"),  and Parkdale LLC (hereinafter  "Parkdale"),  based on
the following premises.

                                    PREMISES

     WHEREAS,  Swissray  and Parkdale  have been  discussing  various  financing
alternatives involving straight common stock rather than convertible securities;
and

     WHEREAS,  Swissray and Parkdale  have decided to reduce their  agreement to
writing  concerning  purchases of Swissray's common stock (the "Shares"),  which
purchases shall be made from time to time by Parkdale and/or its assigns.

                                   AGREEMENT

     NOW,  THEREFORE,  based on the mutual covenants and agreements  hereinafter
set forth,  which are incorporated  herein by reference,  and for other good and
valuable  consideration,  all of which the  receipt  and  adequacy of are hereby
acknowledged by Swissray and Parkdale, the parties hereby agreed as follows:

1. PRICE AND NUMBER OF SHARES.

     (a)  Parkdale agrees to purchase the Shares as follows:

     1,000,000 shares at $1.00 per share for $1,000,000
     2,000,000 shares at $1.50 per share for $3,000,000

     Parkdale  shall have until March 1, 2000, to purchase the 3,000,000  Shares
and pay to Swissray  $4,000,000,  less agreed upon fees.  Each closing  shall be
deemed to have occurred on the date the purchase  price,  less fees, is wired to
Swissray or its attorney (the "Closing Date").

     (b) The undersigned  acknowledges  that each  certificate  representing the
Shares unless registered pursuant to the Registration Rights Agreement, shall be
stamped or otherwise  imprinted  with a legend  substantially  in the  following
form:

                                       1
<PAGE>

          THE  SECURITIES  EVIDENCED  BY THIS  CERTIFICATE  MAY NOT BE
          OFFERED  OR  SOLD,  TRANSFERRED,  PLEDGED,  HYPOTHECATED  OR
          OTHERWISE  DISPOSED OF EXCEPT (i)  PURSUANT TO AN  EFFECTIVE
          REGISTRATION  STATEMENT UNDER THE SECURITIES ACT OF 1933, AS
          AMENDED,  (ii) TO THE EXTENT APPLICABLE,  RULE 144 UNDER THE
          ACT (OR ANY  SIMILAR  RULE  UNDER SUCH ACT  RELATING  TO THE
          DISPOSITION  OF  SECURITIES),  OR (iii) IF AN EXEMPTION FROM
          REGISTRATION UNDER SUCH ACT IS AVAILABLE.

          NOTWITHSTANDING  THE  FOREGOING,  THESE  SECURITIES ARE ALSO
          SUBJECT TO THE REGISTRATION RIGHTS SET FORTH IN EACH OF THAT
          CERTAIN  SUBSCRIPTION   AGREEMENT  AND  REGISTRATION  RIGHTS
          AGREEMENT BY AND BETWEEN THE HOLDER  HEREOF AND THE COMPANY,
          A  COPY  OF  EACH  IS ON  FILE  AT THE  COMPANY'S  PRINCIPAL
          EXECUTIVE OFFICE.

               (ii) The Shares  shall  contain  the  following  legend
          until the effectiveness of the Registration Statement:

          "No  sale,  offer  to sell  or  transfer  of the  securities
          represented  by this  certificate  shall  be made  unless  a
          registration  statement under the Federal  Securities Act of
          1933, as amended, with respect to such securities is then in
          effect or an exemption from the registration  requirement of
          such Act is then in fact applicable to such securities."

               (iii) After  the  effective  date  of  the Registration
          Statement the Shares shall not bear any restrictive legend.

2. PARKDALE REPRESENTATIONS.

     Parkdale  hereby  represents and warrants to, and agrees with,  Swissray as
follows:

     (a)  Concerning  the  Securities.  The purchase of the Shares has been duly
authorized by all required  corporate  action on the part of Parkdale,  and when
issued,  sold and delivered in accordance  with the terms hereof and thereof for
the consideration  expressed herein and therein, will be duly and validly issued
and  enforceable  in  accordance  with  their  terms,  subject  to the  laws  of
bankruptcy and creditors' rights generally.

                                       2
<PAGE>

     (b) Authority to Enter Agreement.  This Agreement has been duly authorized,
validly  executed and delivered on behalf of Parkdale and is a valid and binding
agreement in accordance with its terms,  subject to general principals of equity
and to bankruptcy or other laws affecting the  enforcement of creditors'  rights
generally.

     (c) This Agreement is not the result of, or being entered into pursuant to,
any  advertisement,  article,  notice or other  communication  published  in any
newspaper,  magazine or similar media or broadcast  over  television or radio or
presented at any seminar or meeting.

     (d)  Parkdale  and  its  representatives,  as the  case  may be,  has  such
knowledge and experience in financial,  tax and business matters so as to enable
the Parkdale to utilize the information made available to Parkdale in connection
with the  terms  of this  Agreement  to  evaluate  the  merits  and  risks of an
investment  in the  Shares  and to make an  informed  investment  decision  with
respect thereto.

3. SELLER REPRESENTATIONS.

     (a) Concerning the  Securities.  This Agreement has been duly authorized by
all required corporate action on the part of Swissray, and when issued, sold and
delivered in accordance with the terms hereof and thereof for the  consideration
expressed herein and therein, will be duly and validly issued and enforceable in
accordance  with their terms,  subject to the laws of bankruptcy  and creditors'
rights generally.

     (b) Authority to Enter.  Agreement This Agreement has been duly authorized,
validly  executed and delivered on behalf of Swissray and is a valid and binding
agreement in accordance with its terms,  subject to general principals of equity
and to bankruptcy or other laws affecting the  enforcement of creditors'  rights
generally.

     (c)  Non-contravention.  The  execution  and delivery of this  Agreement by
Swissray,  the issuance of the Shares,  and the  consummation by Swissray of the
other transactions  contemplated by this Agreement, do not and will not conflict
with or result in a breach by Swissray of any of the terms or provisions  of, or
constitute a default under,  the (i) certificate of  incorporation or by-laws of
Swissray,  (ii) any  indenture,  mortgage,  deed of  trust,  or  other  material
agreement or  instrument  to which  Swissray is a party or by which it or any of
its properties or assets are bound, (iii) any material existing  applicable law,
rule, or regulation or any  applicable  decree,  judgment,  or (iv) order of any
court, United States federal or state regulatory body, administrative agency, or
other  governmental  body  having  jurisdiction  over  Swissray  or  any  of its
properties or assets,  except such  conflict,  breach or default which would not
have a material adverse effect on the transactions contemplated herein.

                                       3
<PAGE>

     (d) Issuance of the Shares.  No action has been taken and no law,  statute,
rule, regulation,  order or ordinance has been enacted, adopted or issued by any
Governmental  Body that  prevents  the  issuance of the Shares;  no  injunction,
restraining  order  or order  of any  nature  by a  federal  or  state  court of
competent  jurisdiction has been issued that prevents the issuance of the Shares
in any jurisdiction; and no action, suit or proceeding is pending against or, to
the best knowledge of Swissray,  threatened against or affecting,  Swissray, any
of its subsidiaries  or, to the best knowledge of Swissray,  before any court or
arbitrator  or any  Governmental  Body  that,  if  adversely  determined,  would
prohibit,  materially  interfere  with  or  adversely  affect  the  issuance  or
marketability  of the Shares or render  this  Agreement  or the  Shares,  or any
portion thereof, invalid or unenforceable.

4. ISSUANCE OF SHARES AND REGISTRATION.

     (a)  Subscription  Agreement.  The parties  shall  enter into  Subscription
Agreements  from  time to time  concerning  the  Shares  to be  purchased  which
Subscription Agreements shall set forth the respective rights and obligations of
the parties as well as certain representations and warranties.

     (b)  Registration.  The  parties  shall  enter into a  Registration  Rights
Agreement whereby Swissray agrees to file a registration  statement covering the
Shares  within thirty (30) calendar days of the Closing Date on each purchase of
the Shares and if the  registration  statement is not declared  effective within
ninety (90) calendar days of each  applicable  Closing Date,  Swissray shall pay
Parkdale  liquidated damages as later agreed upon between the parties.  Swissray
represents  that it shall at all times  reserve  and have  available  all Common
Stock  necessary  for  registration  of all the  Shares  purchased  by  Parkdale
pursuant to the terms of this Agreement.

5. LIMITS ON AMOUNT OF OWNERSHIP.

     Notwithstanding the provisions hereof, in no event except with respect to a
conversion  pursuant  to  redemption  by  Swissray  if  there  is  (a) a  public
announcement  that  50% or more of  Swissray  is  being  acquired,  (b) a public
announcement  that Swissray is being merged,  or (c) a change in control,  shall
the  Parkdale  be  entitled  to  own  the  number  of  shares  of  Common  Stock
beneficially  owned by the Parkdale  and its  affiliates,  and,  would result in
beneficial  ownership by the Parkdale and its  affiliates  of more than 4.99% of
the  outstanding  shares of Common  Stock.  For  purposes  of the proviso to the
immediately  preceding  sentence,  beneficial  ownership  shall be determined in
accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended
(the "1934 Act"),  except as otherwise  provided in -clause (1) of such proviso.
The Parkdale further agrees that if the Parkdale transfers or assigns any of the
Shares to a party who or which would not be considered  such an affiliate,  such
assignment shall be made subject to the transferee's or assignee's

                                       4
<PAGE>

specific  agreement  to be bound by the  provisions  of this  Section as if such
transferee or assignee were a signatory to this Agreement.

6. MISCELLANEOUS.

     (a) All pronouns and any variations  thereof used herein shall be deemed to
refer  to the  masculine,  feminine,  impersonal,  singular  or  plural,  as the
identity of the person or persons may require.

     (b)  Neither  this  Agreement  nor any  provision  hereof  shall be waived,
modified,  changed,  discharged,  terminated,  revoked or canceled, except by an
instrument  in writing  signed by the party  effecting the same against whom any
change, discharge or termination is sought.

     (c) Notices required or permitted to be given hereunder shall be in writing
and shall be deemed to be sufficiently  given when personally  delivered or sent
by registered mail, return receipt requested,  addressed: (i) if to Swissray, at
SWISSRAY International, Inc., 320 West 77th Street, Suite IA, New York, New York
10024  with a copy by  facsimile  and mail to Gary B.  Wolff,  P.C.,  747  Third
Avenue,  25th Floor, New York, NY 10017 and (ii) if to the  undersigned,  at the
address for  correspondence  set forth on the  signature  page, or at such other
address as may have been  specified by written  notice given in accordance  with
this paragraph 6(c).

     (d) This  Agreement  shall  be  enforced,  governed  and  construed  in all
respects in accordance  with the laws of the State of New York, as such laws are
applied by New York courts to agreements  entered into,  and to be performed in,
New York by and between  residents  of New York,  and shall be binding  upon the
undersigned, the undersigned's heirs, estate, legal representatives,  successors
and  assigns  and shall inure to the benefit of  Swissray,  its  successors  and
assigns.  If any provision of this Agreement is invalid or  unenforceable  under
any  applicable  statue  or rule of law,  then such  provisions  shall be deemed
inoperative  to the extent that it may  conflict  therewith  and shall be deemed
modified to conform with such statute or rule of law. Any provision  hereof that
may prove invalid or  unenforceable  under any law shall not affect the validity
or enforceability of any other provision hereof.

     (e) This Agreement  constitutes  the entire  agreement  between the parties
hereto with  respect to the subject  matter  hereof and may be amended only by a
writing  executed by both parties  hereto.  An executed  facsimile  copy of this
Agreement shall be effective as an original.

                   [BALANCE OF PAGE INTENTIONALLY LEFT BLANK]

                                       5
<PAGE>

                                 SIGNATURE PAGE

Name:          Parkdale LLC
Attention:     David Sims

Address:       Corporate Center, Widward One
               West Bay Road
               P.O. Box 31106 SMB
               Grand Cayman, Cayman Islands
               (p) 345-945-7566
               (f)

         Name: _____________________

         Title:_____________________

                              SWISSRAY ACCEPTANCE

This Agreement to Purchase Shares is accepted
and agreed to this 2nd day of September, 1999

SWISSRAY INTERNATIONAL INC.

BY       /s/ Ruedi G. Laupper
   ------------------------------------------------
     Ruedi G. Laupper, its Chairman and President
     duly authorized

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