Document:

<PAGE>
                                                                  Exhibit 10.207

                      NON-QUALIFIED STOCK OPTION AGREEMENT

                           WILSHIRE TECHNOLOGIES, INC

                             1993 STOCK OPTION PLAN

               THIS NON-QUALIFIED STOCK OPTION AGREEMENT ("Agreement") dated
June 30, 2001, is made and entered into by and between WILSHIRE TECHNOLOGIES,
INC., a California corporation ("Company"), and John Van Egmond ("Optionee").

               1. GRANT OF OPTION. The Company hereby confirms the grant by the
Committee to the Optionee, effective June 30, 2001, of a non-qualified stock
option ("NQO") to purchase up to 2,000 shares of the Company's Common Stock, no
par value per share ("Common Stock"), at a price of $ .14 per share ("Option")
pursuant to the Company's 1993 Stock Option Plan ("Plan"), a copy of which is
attached hereto. All of the terms and conditions of the Plan are hereby
incorporated by reference into this Agreement. Capitalized terms used in this
Agreement but not defined herein shall have the same meanings as in the Plan.
This option is, in its entirety, intended to be a non-qualified stock option
under the provisions of the Code.

               2. DURATION OF OPTION. This option expires on June 30, 2006,
being five (5) years from the date of grant of this option, except that the term
of this Option is subject to earlier termination pursuant to the provisions of
Sections 4, 10 and 13 of the Plan.

               3. VESTING SCHEDULE; EXERCISE OF OPTION

                  (a) This option vests as follows:

                  As to 2,000 shares on December 31, 2001.

                  (b) The vested portion of the Option may be exercised, to the
extent not previously exercised, in whole or in part at any time, or from time
to time, prior to the expiration of the Option. Written notice of the exercise
of all or any part of this Option shall be given to the Secretary of the Company
and shall be deemed to have been received either when delivered personally to
the office of the Secretary or at 11:59 p.m. on the date of any U.S. Postal
Service postmark on the notice. Such notice shall be irrevocable and shall
specify the number of shares to be purchased and the purchase price to be paid
therefor and must be accompanied by the payment of the purchase price as
provided in SECTION 4 below. Upon the exercise of this option, the Company will
issue or cause to be issued a certificate or certificates for the Common Stock
being purchased as promptly as practicable.

               4. PAYMENT OF OPTION PRICE. The Purchase price of Common Stock
upon any exercise of this option shall be paid in full to the Company at the
time of such exercise in cash (including by check) or, subject to the approval
of the Committee, by the surrender to the Company of shares of previously
acquired Common Stock which shall be valued at the fair market value on the date
this option is exercised (determined by the Committee in accordance with the
method for establishing fair market value contained in Section 8 of the Plan),
or by a combination of cash and Common Stock.

                                       1
<PAGE>

               5. NONTRANSFERABILITY OF OPTION. This option shall not be
transferable or assignable by the Optionee, other than by will or the laws of
descent and distribution or pursuant to a qualified domestic relations order as
defined by the Code or Title I of the Employee Retirement Income Security Act,
and shall only be exercisable during the Optionee's lifetime by him or his
guardians, conservators or other legal representatives. This option shall not be
pledged or hypothecated in any way and shall not be subject to execution,
attachment, or similar process without the express written consent of the
Committee.

               6. OPTIONEE BOUND BY PLAN. The Optionee hereby acknowledges
receipt of the attached copy of the Plan and agrees to be bound by all the terms
and provisions thereof, as amended, and by all determinations of the Committee
thereunder.

               IN WITNESS WHEREOF, this Agreement has been executed in duplicate
on behalf of the Company by its officer thereunto duly authorized, and by the
Optionee, in acceptance of the above mentioned Option, subject to the terms of
the Plan and of this Agreement, all as of the day and year first above written.

                                WILSHIRE TECHNOLOGIES, INC.

                                By:  /s/ KEVIN MULVIHILL
                                   ---------------------------------------
                                     Kevin Mulvihill
                                     President and Chief Executive Officer

                                       2
<PAGE>

               I hereby accept the foregoing stock option on the terms and
        conditions herinabove stated.

               I understand that the shares issuable to me on exercise of this
        option have not been registered under the Securities Act of 1933 and
        that the Company has no intention of so registering such shares.

                                                  /s/ JOHN VAN EGMOND
                                                  ------------------------------
                                                      John Van Egmond
                                                      Optionee

                                       3
<PAGE>

                               EXERCISE OF OPTION

                  The undersigned hereby irrevocably elects to exercise the
right to purchase _______________ shares of Common Stock of Wilshire
Technologies, Inc. (the "Shares"), such right being represented by the Stock
Option granted to me on June 30, 2001 and herewith tenders payment for the
Shares to the order of Wilshire Technologies, Inc., in the amount of
$________________ (equal to [the number of shares] multiplied by $_________ [the
exercise price stated in the Stock Option]).

                  The undersigned requests that a certificate for the Shares be
registered in the of ____________, and delivered to, the undersigned at the
following address:
__________________________________________
__________________________________________
__________________________________________

                      _____________________________________
                             (Please print or type)

Date:___________      Signature_______________________________

                    Social Security Number______-___-_______

                                       4<PAGE>
                                                                  EXHIBIT 10.208

                                   DEMAND NOTE

$433,000.00                                                   New York, New York
                                                              October 5, 2001

        FOR VALUE RECEIVED, the undersigned, Wilshire Technologies, Inc. a
California corporation (hereinafter referred to as "Borrower"), hereby
unconditionally PROMISES TO PAY to the order to TRILON DOMINION PARTNERS, LLC, a
Delaware limited liability company ("Lender"), at 245 Park Avenue, 28th Floor,
New York, NY 10167, or at such other place as the holder of this Demand Note may
designate from time to time in writing, in lawful money of the United States of
America and in immediately available funds, the principal amount of Four Hundred
Thirty Three Thousand and 00/100, DOLLARS ($433,000.00), together with interest
on the unpaid principal amount of this Demand Note outstanding from time to time
from the date hereof, at a rate per annum equal to the Prime rate of interest
plus 3.0%, or the highest rate permitted by law, whichever shall be less.

        The principal amount of the indebtedness evidenced hereby shall be
payable on demand. Interest thereon shall be paid when principal is paid from
the date hereof until such principal amount is paid in full at such interest
rate as specified above. Following failure to pay on demand, Borrower agrees to
pay interest on any overdue payment of principal at a rate per annum equal to
the stated interest rate plus 5%, or the highest rate permitted by law,
whichever shall be less. All interest calculations shall be computed on the
basis of a 360 day year.

        Demand, presentment, protest and notice of nonpayment and protest are
hereby waived by Borrower.

        Borrower shall have no right to make any off-set against or deduct from
any payment due under this Demand Note.

        Principal and interest may be prepaid at any time without penalty.

        This Demand Note may not be changed orally, but only by an agreement in
writing and signed by the party against whom enforcement of such change is
sought.

        All covenants of Borrower in this Demand Note and all rights of the
holder under this Demand Note shall bind Borrower and its successors and
assigns, and all such covenants and rights shall inure to the benefit of the
holder of this Demand Note and its successors and assigns.

        This Demand Note has been delivered and accepted at New York, New York
and shall be interpreted, governed by, and construed in accordance with, the
laws of the State of New York.

                                       Wilshire Technologies, Inc.

                                       By: /s/ Kathleen Terry
                                           -------------------------------------
                                           Name:  Kathleen E. Terry
                                           Title: Chief Financial Officer<PAGE>
                                                                  EXHIBIT 10.209

                           WILSHIRE TECHNOLOGIES, INC.

                           NON-QUALIFIED STOCK OPTION

                           GRANTED UNDER THE COMPANY'S

                             1995 STOCK OPTION PLAN

THIS IS TO CERTIFY that on November 13, 2001 WILSHIRE TECHNOLOGIES, INC., a
California corporation (the "Company") has granted to Derek Warneke (the
"Optionee") an option to purchase 50,000 shares of common stock of the Company,
no par value, at a price of $0.10 per share, upon the terms and conditions
hereinafter stated, to all of which the Optionee, by the acceptance hereof,
assents.

1.      Option Period and Conditions on Exercise.

        This option vests as follows:

        As to 16,667 of the shares on November 13, 2001;

        As to an additional 16,667 shares on November 13, 2002; and

        As to an additional 16,666 shares on November 13, 2003.

        The option shall not be exercisable with respect to any of the shares
        subject to the option after the expiration of ten years from the date of
        grant, and the option shall not be exercisable with respect to
        fractional shares.

2.      Effect of Termination of Employment/Effect of Death.

        a.      If the Optionee is an officer, employee or director of the
                Company and ceases to be such for any reason other

<PAGE>
                than death or termination for cause, Optionee may exercise this
                option in accordance with its terms only for a period of ninety
                days after such cessation (but not beyond the Option Period).
                Any exercise of this option after such cessation may be only to
                the extent of the full number of shares the Optionee was
                entitled to purchase under this option on the date of such
                cessation, plus a portion of the additional number of shares, if
                any, he would have become entitled to purchase on the next
                anniversary date of the date of grant of the option following
                such cessation, such portion to be determined by multiplying
                such additional number of shares by a fraction, the numerator of
                which is the number of days from the anniversary date of the
                date of grant preceding such cessation to the date of such
                cessation and the denominator of which is 365. Such portion
                shall be rounded, if necessary, to the nearest whole share.

        b.      If the termination of the Optionee's position as an officer or
                employee of the Company is for cause (as determined in the sole
                judgment of the Board of Directors), this option shall thereupon
                be cancelled and the Optionee shall have no right to exercise
                any part of this option after such termination.

        c.      If the Optionee dies, this option continues in effect and may be
                exercised in accordance with its terms for

                                     - 2 -
<PAGE>
                twelve months from the date of the Optionee's death (but not
                beyond the Option Period) by the executor or administrator of
                the estate, or in the event there is none, then by the person or
                persons to whom the optionee's rights under this option shall
                pass by will or the laws of descent and distribution. Any
                exercise of this option after such death may be only to the
                extent of the full number of shares the optionee was entitled to
                purchase under this option on the date of death, plus a portion
                of the additional number of shares, if any, he would have become
                entitled to purchase on the next anniversary date of the date of
                grant of the option following such death, such portion to be
                determined by multiplying such additional number of shares by a
                fraction, the numerator of which shall be the number of days
                from the anniversary date of the date of grant preceding such
                death to the date of death and the denominator of which shall be
                365. Such portion shall be rounded, if necessary, to the nearest
                whole share.

3.      Manner of Exercise.

        This option shall be exercised by giving written notice to the Company
        addressed in the manner specified in paragraph 7, specifying the number
        of shares to be purchased and accompanied by payment in full in cash, or
        in whole or in

                                     - 3 -
<PAGE>
        part in Common Stock, as provided in paragraph 9, for the shares
        purchased.

4.      Nontransferability of Option.

        This option shall not be transferable except to the executor or
        administrator of the Optionee's estate or to the Optionee's heirs or
        legatees, and shall be exercisable during the Optionee's lifetime only
        by the Optionee. This option may, however, be surrendered to the Company
        for cancellation for such consideration and upon such terms as may be
        mutually agreed upon by the Company and the Optionee.

5.      Adjustment of Shares and Price Per Share.

        The number of shares subject to this option shall be adjusted as
        follows:

        a.      In the event the Company's outstanding common stock is changed
                by any stock dividend, stock split, or combination of shares,
                the number of shares subject to this option shall be
                proportionately adjusted, without change in the aggregate
                purchase price.

        b.      Except as provided in subsection (d) hereof, in the event of any
                merger, consolidation, or reorganization of the Company with any
                other corporation or corporations, there shall be substituted on
                an equitable basis, for each share of common stock then subject
                to this option, an option for the number and kind of

                                     - 4 -
<PAGE>
                shares of stock or other securities to which the holders of
                common stock of the Company will be entitled pursuant to the
                transaction.

        c.      In the event of any other relevant change in the capitalization
                of the Company, this option and the purchase price per share
                shall be equitably adjusted.

        d.      In the event of a merger described in Section 368 (a)(2)(E) of
                the Internal Revenue Code of 1986 in which the Company is the
                surviving corporation, this option shall terminate and thereupon
                become null and void but only if the controlling corporation
                shall agree to exchange its options for this option; but the
                Optionee shall have the right, immediately prior to such merger,
                to exercise this option, without regard to any otherwise
                applicable restriction as to time of exercise, other than
                expiration of the Option Period.

        e.      Upon the dissolution of the Company, this option shall terminate
                and thereafter become null and void; but the Optionee shall have
                the right, immediately prior to such dissolution, to exercise
                this option without regard to any otherwise applicable
                restriction as to time of exercise, other than expiration of the
                Option Period.

                                     - 5 -
<PAGE>
6.      Compliance with Applicable Law.

        The exercise of this option is subject to the obtaining of any consent
        or approval of any governmental or other regulatory body which the Board
        of Directors, in its discretion, deems necessary or desirable.

7.      Other Provisions.

        a.      The holder of this option shall not be entitled to any rights of
                a shareholder of the Company with respect to any shares subject
                to this option until such shares have been paid for in full and
                issued to him.

        b.      Nothing in this Certificate shall be construed as limiting any
                rights which the Company or any parent or subsidiary corporation
                of the Company may have to terminate at any time the employment
                of the Optionee.

        c.      Notice to the Company hereunder shall be addressed to the
                attention of its Secretary at its corporate office at 5861
                Edison Place, Carlsbad, California 92008.

8.      Incorporation of Plan by Reference.

        EXCEPT AS MODIFIED OR AMPLIFIED BY THE SPECIFIC TERMS OF THIS AGREEMENT,
        ALL OF THE TERMS AND PROVISIONS OF THE WILSHIRE TECHNOLOGIES, INC. 1995
        STOCK OPTION PLAN (THE "PLAN"), A COPY OF WHICH IS ATTACHED HERETO AS
        EXHIBIT A, ARE INCORPORATED HEREIN AND MADE A PART HEREOF AS IF SET
        FORTH AT LENGTH HEREIN.

                                     - 6 -
<PAGE>
9.      Optional Form of Payment for Shares.

        Payment for any number of shares of stock of the Company purchased
        pursuant to the exercise of this option may, at the election of the
        Optionee, be made by delivering to the Company a number of shares of the
        Common Stock of the Company, which the Optionee has owned for at least
        six months, with a Fair Market Value (as defined in the Plan), on the
        date this option is exercised, equal to the option exercise price for
        such shares.

                                       WILSHIRE TECHNOLOGIES, INC.

                                       By:     /s/    KEVIN MULVIHILL
                                          --------------------------------------
                                                      Kevin Mulvihill
                                                        President

                                     - 7 -
<PAGE>
        I hereby accept the foregoing stock option on the terms and conditions
hereinabove stated.

        I understand that the shares issuable to me on exercise of this option
have not been registered under the Securities Act of 1933 and that the Company
has no intention of so registering such shares.

                                        /s/ DerekWarneke
                                        ----------------------------------------
                                        Derek Warneke - Optionee

                                     - 8 -
<PAGE>
                               EXERCISE OF OPTION

        The undersigned hereby irrevocably elects to exercise the right to
purchase shares of Common Stock of Wilshire Technologies, Inc. (the "Shares"),
such right being represented by the Stock Option granted to me on May 1, 2000
and herewith tenders payment for the Shares to the order of Wilshire
Technologies, Inc., in the amount of $ (equal to [the number of shares]
multiplied by $________ [the exercise price stated in the Stock Option]).

        The undersigned requests that a certificate for the Shares be registered
in the name of, and delivered to, the undersigned at the following address:

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

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

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

                                       Name
                                             -----------------------------------
                                                    (Please print or type)

Date:                                  Signature
     ----------------                            -------------------------------

                                       Social Security Number
                                                              ------------------

                                     - 9 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]