Document:

NEITHER THIS PROMISSORY NOTE NOR ANY OF THE SECURITIES ISSUABLE HEREUNDER HAS
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE
SECURITIES, OR DELIVERY TO THE COMPANY OF AN OPINION OF COUNSEL IN FORM AND
SUBSTANCE SATISFACTORY TO THE COMPANY THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE
OR HYPOTHECATION IS IN COMPLIANCE WITH THE ACT OR UNLESS SOLD IN FULL COMPLIANCE
WITH RULE 144 UNDER THE ACT.

                        SUBORDINATED 12% PROMISSORY NOTE
                                                         August __, 2005 Encino,
                                                                      California

                 PRIDE BUSINESS DEVELOPMENT HOLDINGS, INC., a Nevada corporation
(the "Company"), for value received, hereby promises to pay to_________________
(the "Holder"), the principal amount of_____________Dollars (US$__________) (the
"Principal Amount"), together with interest on the unpaid amount thereof in
accordance with the terms hereof, from the date hereof until paid or converted
in accordance with the terms hereof.

      1.    Promissory Note (the "Note")

            1.1 Interest Rate. Subject to the provisions of Subsection 1.1.1 and
Subsection 2.1 hereof, the rate of interest hereunder (the "Interest Rate")
shall be twelve percent (12%) per annum, which shall be computed on the basis of
a three hundred sixty-five (365) day year for the actual number of days elapsed
and shall be payable in arrears and in cash.

                  1.1.1 The Interest Rate shall be subject to increase in
accordance with the provisions of this Subsection 1.1.1. In the event that the
Company does not repay the Principal Amount plus all interest due thereon within
one hundred and eighty (180) days of the date hereof, the Interest Rate shall
automatically be increased to thirteen percent (13%). In the event that the
Company does not repay the Principal Amount plus all interest due thereon within
two hundred and seventy (270) days of the date hereof, the Interest Rate shall
automatically be increased to fourteen percent (14%).

            1.2    Payments. The Principal Amount plus all accrued but unpaid
                   interest thereon shall be due and payable upon the first to
                   occur of the following events (the "Due Date"):

<PAGE>

(i) Six (6) months from the date hereof; or (ii) the completion and funding of
an equity financing of no less than two million dollars (US$2,000,000). Interest
on the Principal Amount shall accrue and be payable in arrears and in cash.
Payment and any prepayment under Section 1.3 below shall be made at the offices
or residence of the Holder, or at such other place as the Holder shall have
designated to the Company in writing, in lawful money of the United States of
America.

            1.3 Prepayment. Prepayment may be made by the Company of the entire
amount of the Principal Amount and all accrued but unpaid interest without
penalty at any time.

2.           Shares and Warrants

            2.1 Issuance of Shares: The Company will issue one hundred and forty
thousand (140,000) shares of unregistered Company common stock, US$.001 par
value (the "Shares") to Holder for each one hundred thousand dollars
(US$100,000) of Notes purchased and in exchange for one hundred dollars (US$100)
of the interest expense set forth in Subsection 1.1 hereof being converted to
purchase the Shares. As promptly as practicable, the Company at its expense will
issue and deliver to the Holder of this Note a certificate or certificates
evidencing the number of full shares of Common Stock issuable to Holder in
accordance with the terms and conditions of this Note. No fractional shares
shall be issued. In lieu of any fractional share to which such Holder would
otherwise be entitled, such fractional share shall be rounded to the nearest
whole share

            2.2 Issuance of Warrants. If the Note is not repaid in 6 months from
the date of the issue, the Company will issue warrants to purchase twenty-five
thousand (25,000) additional Shares at US$0.75 per share for every one hundred
thousand dollars (US$100,000) of Notes subscribed. The term of the warrants will
be 3 years from the date of issue. If the Note is not repaid in nine (9) months
from the date of the issue, the Company will issue additional warrants to
purchase twenty-five thousand (25,000) additional Shares at US$0.75 per share
for every one hundred thousand dollars (US$100,000) of Notes subscribed. The
term of the warrants will be three (3) years from the date of issue.

            2.3 Registration Rights. The Company will file a registration
statement within 9 months of issuance of the Note and include all the underlying
shares of common stock issued for the Note in accordance with Section 2.1
hereinabove and any exercise of the warrants referenced in Section 2.2
hereinabove. The Holder will have piggy-back registration rights if the Company
files registration for any other Shares before this 9 month period. Piggy-back
registration will be with the acceptance of the underwriters as selected by the
Company.

3. Security. The Principal Amount, including any and all interest due thereon,
will be secured by a lien on all assets of the Company, which will be
subordinate to those already existing and to any letter of credits issued to
support working capital needs of the Company. The Company will pay the expenses
of filing and recording the liens under this Note.
2.

<PAGE>

4. Events of Default. The Holder may declare the entire amount of the Principal
Amount of this Note and all accrued but unpaid interest thereon immediately due
and payable, effective upon written notice to the Company as described above, if
any of the following events shall occur (each, an "Event of Default"):

            4.1   Payment of Note. Default in the payment of this Note
                   when due.

            4.2   Bankruptcy, Insolvency, Etc. Commenced by the Company. If the
Company:

                  4.2.1 shall commence any proceeding or any other action
relating to it in bankruptcy or seek reorganization, arrangement, readjustment
of its debts, dissolution, liquidation, winding-up, composition or any other
relief under the United States Bankruptcy Act, as amended, or under any other
insolvency, reorganization, liquidation, dissolution, arrangement, composition,
readjustment of debt or any other similar act or law, of any jurisdiction,
domestic or foreign, now or hereafter existing;

                  4.2.2 shall admit its inability to pay its debts as they
mature in any petition or pleading in connection with any such proceeding;

                  4.2.3 shall apply for, or consent to or acquiesce in, an
appointment of a receiver, conservator, trustee or similar officer for it or for
all or substantially all of its assets and properties;

                  4.2.4 shall make a general assignment for the benefit of
creditors; or 4.2.5 shall admit in writing its inability to pay its debts as
they mature.

            4.3 Bankruptcy, Insolvency, Etc. Commenced Against the Company. If
any proceedings are commenced or any other action is taken against the Company
in bankruptcy or seeking reorganization, arrangement, readjustment of its debts,
dissolution, liquidation, windingup, composition or any other relief under the
United States Bankruptcy Act, as amended, or under any other insolvency,
reorganization, liquidation, dissolution, arrangement, composition, readjustment
of debt or any other similar act or law, of any jurisdiction, domestic or
foreign, now or hereafter existing; or a receiver, conservator, trustee or
similar officer for the Company or for all or substantially all of its assets
and properties is appointed; and in each such case, such event continues for
ninety (90) days undismissed, unbonded and undischarged.

            4.4 Material Breach. Any material breach of any representation,
warranty, covenant or obligation of the Company under this Note that is not
cured within thirty (30) days after receipt by the Company of written notice
from the Holder.

<PAGE>

5.           Miscellaneous.

             5.1 Transfer of Note. This Note shall not be transferable or
assignable in any manner and no interest shall be pledged or otherwise
encumbered by the Holder without the express written consent of the Company, and
any such attempted disposition of this Note or any portion hereof shall be void
ab initio and of no force or effect.

             5.2 Titles and Subtitles. The titles and subtitles used in this
Note are for convenience only and are not to be considered in construing or
interpreting this Note.

             5.3 Notices. Any notice, demand, or other communication which any
party hereto may elect or be required to give hereunder shall be given by fax or
overnight courier, and shall be deemed to have been received, in the case of a
fax, on the date such fax was sent if confirmation of transmission is received
by the sender, and in the case of overnight courier, on the next business day.
All notices shall be sent to the parties at the addresses provided on the
signature page set forth below.

             5.4 Attorney's Fees. If any action at law or in equity is necessary
to enforce or interpret the terms of this Note, the prevailing party shall be
entitled to reasonable attorney's fees, costs and disbursements in addition to
any other relief to which such party may be entitled.

            5.5 Amendments and Waivers. Any amendment or waiver of the terms,
conditions, right and obligations set forth herein shall be binding only with
the written consent of the Company and the Holder.

             5.6 Severability. If one or more provisions of this Note are held
to be unenforceable under applicable law, such provision shall be excluded from
this Note and the balance of the Note shall be interpreted as if such provision
were so excluded and shall be enforceable in accordance with its terms.

             5.7 Governing Law. This Note shall be governed by and construed and
enforced in accordance with the laws of the State of California, without give
effect to its conflicts of laws principles.

             5.8 Counterparts. This Note may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                          [SIGNATURE PAGES FOLLOW]

<PAGE>

Dated: August ___, 2005

                              PRIDE BUSINESS DEVELOPMENT HOLDINGS, INC.
                              a Nevada corporation

                              By:
                                    ______________________________________
                              Name: Ari L. Markow
                              Title: President

                              Address For Notices:
                              15760 Ventura Blvd.
                              Suite 1020
                              Encino, California 91436
                              Attention: Ari L. Markow, President
                              Fax Number: 818-206-0053

Acknowledged and Agreed:

______________________________

By:   ________________________

Name: ________________________

Title:________________________

Address for Notices:

______________________________

______________________________

______________________________

______________________________

Attention:____________________

Fax Number:___________________BP (54697) Lifestream Tech., Inc. EX-10.37

Exhibit 10.37

PATENT LICENSE AGREEMENT

THIS AGREEMENT, entered into and effective as of the latest date indicated in the signature block at the foot of this Agreement (the “Effective Date”), is by and between Lifestream Technologies, Inc. (“Lifestream”), a Nevada corporation with a post office address at 510 Clearwater Loop, Suite 101, Post Falls, Idaho 83854; and LifeNexus, Inc. (“LifeNexus”) a Nevada corporation with a post office address at 370 Interlocken Boulevard, Fourth Floor, Broomfield, Colorado 80021.

BACKGROUND

WHEREAS Lifestream is the owner of certain intellectual property rights including the invention(s) and associated patent applications(s) listed on Exhibit “A” hereto; and

WHEREAS LifeNexus is desirous of obtaining and commercializing these intellectual property rights under the terms set forth below.

NOW THEREFORE, in consideration of ten dollars ($10) in hand paid and the promised performance by each of the parties of the terms set forth herein, the parties hereto, intending to be legally bound, mutually agree as follows:

TERMS OF AGREEMENT

I.

LICENSE OF PATENT RIGHTS

1.1

Lifestream hereby grants LifeNexus a non-exclusive license (“License”) to make, use, sell and import the inventions as described and claimed in the patent application(s) listed in Exhibit “A” and any patents that may issue for these invention(s) (the “Patent Portfolio”) in connection with secured data acquisition, transmission, storage and analysis systems not sold for use with healthcare diagnostic devices (the” Licensed Field of Use”).

1.2

The License will have an initial period of three (3) full calendar years plus the remaining portion of the present calendar year (the “Initial Period”) during which the License may only be terminated for a non-cured material breach, and the License will automatically extend for subsequent one calendar year periods provided that the License has not been terminated under Paragraph 1.3, below.

1.3

Lifestream may terminate this Agreement if LifeNexus is in material breach and has not cured the breach within sixty (60) days written notice, and will alternatively terminate upon the occurrence of the first of the following events after the Initial Period:

(a) Lifestream may terminate this Agreement with written notice of one calendar year if Royalty Payments during the immediately preceding calendar year are less than nine thousand dollars ($9,000);

(b) LifeNexus may terminate this Agreement with thirty (30) days written notice;

(c) this Agreement will automatically terminate upon expiration of all patent(s) and patent application(s) in the Patent Portfolio.

1.4

Lifestream may not use, license, assign or otherwise transfer any rights to the Patent Portfolio in the Licensed Field of Use.

1.5

Lifestream may not assign or otherwise transfer any right in the Patent Portfolio or its rights or obligations under this Agreement to a third party except by transfer to a successor corporation through merger or acquisition of Lifestream or the portion of the Lifestream business to which the Patent Portfolio pertains without the express, written approval of LifeNexus, which approval will not be unreasonably withheld.

1.6

In the event of a transfer of Lifestream or the portion of the Lifestream business to which the Patent Portfolio pertains to a successor corporation through merger or acquisition, or upon assignment or other transfer of any right under the Patent Portfolio to a third party, the License will automatically become an exclusive, royalty-free, fully-paid, non-terminable, perpetual, worldwide license in the Licensed Field of Use.

1.7

In the event that Lifestream files for bankruptcy protection, the License will automatically become an exclusive, royalty-free, fully-paid, non-terminable, perpetual, worldwide license in the Licensed Field of Use.

1.8

LifeNexus may not assign or otherwise transfer its rights or obligations under this Agreement except by transfer to a successor corporation through merger or acquisition of LifeNexus or the portion of the LifeNexus business to which the Patent Portfolio pertains without the express, written approval of Lifestream, which approval will not be unreasonably withheld.

II.

PAYMENT

2.1

Commencing upon issuance of the first issued patent in the Patent Portfolio, LifeNexus will pay Lifestream two and one-half percent (2.5%) of the net sales revenue earned by LifeNexus in the Licensed Field of Use (“Royalty Payments”).

2.2

In the event that the Royalty Payments due Lifestream during any calendar year after the Initial Period are less than nine thousand dollars ($9,000), LifeNexus may elect to increase the Royalty Payments for that calendar year to nine thousand dollars ($9,000) and thereby maintain all associated rights under this Agreement.

2.3

Royalty Payments under this Agreement will be based on revenues actually received by LifeNexus (i.e., cash basis accounting; “net sales revenue” means gross receipts actually received by LifeNexus less sales commissions and promotional allowances actually paid by LifeNexus to third parties), will be computed on a calendar quarterly basis, and will be due and payable to Lifestream thirty (30) days after the end of each quarter for net sales revenues during the immediately preceding calendar quarter. A final Royalty Payment will be due and payable to Lifestream thirty (30) days after termination.

2.4

LifeNexus will keep appropriate accounting records of net sales revenue in the Licensed Field of Use.

2.5

LifeNexus will accompany each Royalty Payment with a written Royalty Report stating the gross receipts actually received by LifeNexus and sales commissions and promotional discounts actually paid by LifeNexus to third parties in the Licensed Field of Use, and showing the computation of the Royalty Payment, for the associated quarter. If there have been no revenue actually received by LifeNexus during a quarter, then LifeNexus need not provide Lifestream with a Royalty Report for that quarter.

2.6

Lifestream will have the right to reasonably audit the records of LifeNexus supporting the computation of the Royalty Payments. In the event that any audit reveals an underpayment of any Royalty Payment of ten percent (10%) or more, then LifeNexus will reimburse Lifestream the actual, out-of-pocket costs associated with the audit.

III.

PROTECTION OF PATENT RIGHTS

3.1

LifeNexus will affix appropriate patent markings pursuant to 35 U.S.C. § 287 (a) to any products claimed by any issued patent in the Patent Portfolio.

3.2

LifeNexus will only use the patents in the Patent Portfolio in accordance with applicable federal, state and local laws and regulations.

3.3

LifeNexus will promptly notify Lifestream if it becomes aware of any entity that is apparently infringing a patent in the Patent Portfolio.

3.4

Lifestream will promptly notify LifeNexus if it becomes aware of any entity that is apparently infringing a patent in the Patent Portfolio within the Licensed Field of Use.

3.5

Neither party will be required by this Agreement to become a party to any dispute, litigation, or administrative proceeding of any kind.

IV.

LIFENEXUS PURCHASE RIGHTS

4.1

In the event that Lifestream receives an offer to purchase any right in the Patent Portfolio and intends in good faith to accept such offer, Lifestream will promptly notify LifeNexus of such offer and LifeNexus will have a right of first refusal for sixty (60) days from receipt of the notice to purchase the right at the offered purchase price plus five percent (5%).

4.2

In the event that Lifestream is not commercially using the Patent Portfolio in any field of use, and upon the request of LifeNexus, Lifestream and LifeNexus will negotiate in good faith a sale of the Patent Portfolio to LifeNexus under mutually agreeable terms. Neither party will unreasonably refuse to negotiate and enter into such an agreement.

4.3

In the event that Lifestream determines that it will not continue its efforts to maintain, renew or defend any patent in the Patent Portfolio, then it will timely notify LifeNexus of this decision and LifeNexus will have the option of receiving an Assignment of that patent at no cost to LifeNexus.

4.4

In the event that Lifestream determines that it will not enforce any patent in the Patent Portfolio within the Licensed Field of Use after receiving sixty (60) days written notice of an apparent infringement in the Licensed Field of Use, then the License for that patent will automatically become an exclusive, royalty-free, fully-paid, non-terminable, perpetual worldwide license in the Licensed Field of Use with the right of LifeNexus to legally enforce the that patent within the Licensed Field of Use in its own name for past, presently occurring, and future infringements and retain any and all proceeds and other benefits resulting from such enforcement.

4.5

LifeNexus may, with thirty (30) days written notice, purchase the Patent Portfolio and the Trademark Portfolio licensed in the concurrently executed Trademark License Agreement for a lump-sum payment of four million five hundred thousand dollars ($4,500,000), ($4,000,000 of the value is attributed to the patent assets and $500,000 of the value is attributed to the trademark asset) which may be paid in any proportion in cash or LifeNexus preferred or common stock and LifeNexus may also purchase each asset separately and at different times . If paid in whole or in part in LifeNexus stock, (a) the shares will have the value established by LifeNexus’ most recent financing, and (b) the parties will cooperate with each other to obtain desirable accounting and regulatory treatment of the transaction including, by way of illustration, Lifestream will take no action while holding the LifeNexus stock that would cause LifeNexus to become a publicly traded company or require Lifestream and LifeNexus to consolidate financial statements.

V.

WARRANTIES AND INDEMNITIES

5.1

Lifestream warrants that it reasonably believes itself to be the sole owner of all of the assets in the Patent Portfolio, that it has not conveyed any right or interest in the Patent Portfolio to any other party, and that it has an unencumbered legal right to enter into and perform as required by this Agreement.

5.2

LifeNexus warrants that it has an unencumbered legal right to enter into and perform as required by this Agreement.

5.3

LIFESTREAM MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND AS TO THE VALIDITY OF ANY ASSET IN PATENT PORTFOLIO, WHETHER ANY GOODS OR SERVICES DESCRIBED IN THE PATENT PORTFOLIO ARE COVERED BY THE PATENT PORTFOLIO AS CLAIMED IN THE ASSOCIATED DOCUMENTS, WHETHER ANY GOODS OR SERVICES DESCRIBED IN THE PATENT PORTFOLIO DO OR DO NOT INFRINGE ANY PATENT, TRADEMARK, COPYRIGHT, UTILITY MODEL OR OTHER RIGHT OF ANY THIRD PARTY, WHETHER ANY GOODS OR SERVICES DESCRIBED IN THE PATENT PORTFOLIO ARE FUNCTIONAL FOR ANY INTENDED PURPOSE, OR WHETHER ANY GOODS OR SERVICES DESCRIBED IN THE PATENT PORTFOLIO ARE MERCHANTABLE FOR ANY PURPOSE.

5.4

LifeNexus indemnifies, holds harmless, and agrees to defend Lifestream with respect to any claim or cause of action arising out of manufacture, use, sale or importation of any product or process by LifeNexus including, without limitation, personal injury to persons using or misusing goods or services sold under the any patent in the Patent Portfolio, or loss or damage to medical or other data resulting from using or misusing the goods or services as described in the Patent Portfolio.

5.5

LifeNexus indemnifies, holds harmless, and agrees to defend Lifestream with respect to any right, claim or cause of action arising out of sublicensing or assignment by LifeNexus of any right in the Patent Portfolio.

5.6

Lifestream indemnifies, holds harmless, and agrees to defend LifeNexus with respect to any right, claim or cause of action arising out of manufacture, use, sale or importation of goods or services in connection with the Patent Portfolio by Lifestream including, without limitation, personal injury to persons using or misusing the goods or services as described in the Patent Portfolio, or loss or damage to medical or other data resulting form using or misusing the goods or services as described in the Patent Portfolio.

5.7

Lifestream indemnifies, holds harmless, and agrees to defend LifeNexus with respect to any right, claim or cause of action arising out of sublicensing or assignment by Lifestream of any right in the Patent Portfolio.

VI.

MISCELLANEOUS

6.1

All written notices, correspondence and payments under this Agreement will be delivered to the addresses of record first written above. Either party may change its address of record with written notice.

6.2

This Agreement, together with the concurrently executed Trademark License Agreement, constitutes the entire agreement between the parties with respect to the subject matter hereof, supersedes all previous express or implied promises or understandings related to the subject matter of hereof (including the Intellectual Property and Capital Investment Agreement dated January 7, 2005), and may not be varied, amended, or supplemented except by a writing of even or subsequent date executed by both parties and containing express reference to this Agreement. The parties acknowledge the existence of a contemporaneous Trademark License Agreement that is not altered or superseded by the present Agreement.

6.3

The failure of either party to enforce at any time any of the provisions of this Agreement, or any rights in respect thereto, will in no way be considered a waiver of such provisions, rights, or elections with respect to subsequent events or in any way to affect the validity and the enforceability of this Agreement.

6.4

In the event that any provision of this Agreement is declared invalid or legally unenforceable by a court of competent jurisdiction from which no appeal is or can be taken, the invalid provision will be deemed replaced by a similar but valid and legally enforceable provision as near in effect as the invalid or legally unenforceable provision, and the remainder of this Agreement will be deemed modified to conform thereto and will remain in effect.

6.5

This Agreement will be binding upon and inure to the benefit of the parties and their respective heirs, successors, and permitted assigns and neither party will transfer the obligations under this agreement without prior written consent of the other and which can not be unreasonable withheld.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate, each of which constitutes an original, to be effective as of the latest year and date indicated below.

	LifeNexus, Inc.

	                              

	Lifestream Technologies, Inc.

	By:

	/s/ David Hurley

	 	By:

	/s/ Bob Boyle 

	 	David Hurley

	 	 	Bob Boyle

	Title:

	Chief Executive Officer

	 	Title:

	Director

	Date:

	October 1, 2005

	 	Date:

	September 15, 2005

PATENT LICENSE AGREEMENT

BY AND BETWEEN LIFESTREAM, INC. AND LIFENEXUS, INC.

PATENT PORTFOLIO

EXHIBIT “A”

Pending Patent Applications

1.

U. S. Patent Application Serial No. 09/892,184

2.

U. S. Patent Application Serial No. 10/649,294

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