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			Exhibit 10.4

			

			

		

		
			SUBLEASE AGREEMENT BETWEEN

				NATIONAL LAMPOON, INC.

				AND

				RED ROCK PICTURES, INC.

		

		

					Parties. This Sublease, dated, for reference purposes only, September 6, 2006, is made by and between National Lampoon, Inc. (herein called "Sublessor") and Red Rock Pictures, Inc. (herein called "Sublessee).

					

				
	Premises. Sublessor hereby subleases to Sublessee and Sublessee hereby subleases from Sublessor for the term, at the rental, and upon all of the conditions set forth herein, that certain property situated in the County of Los Angeles, State of California, commonly known as 8228 Sunset Blvd, and described as a portion of first floor consisting of two (2) offices.

			

		
		
			
				Said real property, including the land and all improvements thereon, is hereinafter called the "Premises."

			

		

			Term.

					

				
		

		
				3.1       	Term. The term of this Sublease shall be for Two (2) years commencing on September6, 2006 and ending on September 6, 2008 unless sooner terminated pursuant to any provision hereof
	  	
	3.2	Delay in Commencement. Notwithstanding said commencement date, if for any reason Sublessor cannot deliver possession of the Premises to Sublessee on said date, Sublessor shall not be subject to any liability therefore, nor shall such failure affect the validity of this Lease or the obligations of Sublessee hereunder or extend the term hereof, but in such case Sublessee shall not be obligated to pay rent until possession of the Premises is tendered to Sublessee, provided, however, that if Sublessor shall have not delivered possession of the Premises within sixty (60) days from said commencement date. Sublessee may, at Sublessee's option, by notice in writing to Sublessor within ten (10) days thereafter, cancel this Sublease, in which event the parties shall be discharged from all obligations hereunder. If Sublessee occupies the Premises prior to said commencement date, such occupancy shall be subject to all provisions hereof, such occupancy shall not advance the termination date and Sublessee shall pay rent for such period at the initial monthly rates set forth below.

		

			Rent. Sublessee shall pay to Sublessor as rent for the Premises equal monthly payments of $2,000.00 in advance on the 6 day of each month of the term hereof
		

		

		

		

		

		

		

		

		

		

		

		

			Use.

					

				
		

		
			
					5.1       	Use The Premises shall be used and occupied only for General office use and for no other purpose
	  		
	5.2	Compliance with Law.
	  		
		(a)       	Sublessor warrants to Sublessee that the Premises, in its existing state but without regard to the use for which Sublessee will use the Premises, does not violate any applicable building code regulation or ordinance at the time that this Sublease is executed. In the event that it is determined that this warranty has been violated, then it shall be the obligation of the Sublessor, after written notice from Sublessee, to promptly at Sublessor's sole cost and expense, rectify any such violation. In the event that Sublessee does not give to Sublessor written notice of the violation of this warranty within one (1) year from the commencement of the term of this Sublease, it shall be conclusively deemed that such violation did not exist and the correction of the same shall be the obligation of the Sublessee.
	  		
		(b)	Except as provided in paragraph 5.2(a), Sublessee shall at Sublessee's expense, comply promptly with all applicable statutes ordinances, rules, regulations, orders, restrictions of record, and requirements in effect during the term or any part of the term hereof regulating the use by Sublessee of the Premises. Sublessee shall not use or permit the use of the Premises in any manner that will tend to create waste or a nuisance or, if there shall be more than one (1) tenant of the building containing the premises, which shall tend to disturb such other tenants
	  		
	5.3	Condition of Premises. Except as provided in paragraph 5.2(a), Sublessee hereby accepts the Premises in their condition existing as of the date of the execution hereof; subject to all applicable zoning, municipal county and state laws, ordinances, and regulations governing and regulating the use of the Premises, and accepts this Sublease subject thereto and to all matters disclosed thereby.

			

		

			Assignment and Subletting. Sublessee shall not assign this Sublease or further sublet all or any part of the Premises without prior written consent of the Sublessor.
		

				

			
	Attorney's Fees. If Sublessor or Sublessee shall commence an action against the other arising out of or in connection with this Sublease, the prevailing party shall be entitled to recover its costs of suit and reasonable attorney's fees.

		

		

		

		

		

		

		

		

		

		

			Agency Disclosure. Sublessor and Sublessee each warrant that they have dealt with no real estate broker in connection with this transaction.
		

				

			
	Notices. All notices and demands which may or are to be required or permitted to be given by either party on the other hereunder shall be in writing. All notices and demands by the Sublessor to Sublessee shall be sent by United States Mail, postage prepaid, addressed to the Sublessee at the Premises, and to the address hereinbelow, or to such other place as Sublessee may from time to time designate in a notice to the Sublessor. All notices and demands by the Sublessee to Sublessor shall be sent by United States Mail, postage prepaid, addressed to the Sublessor at the address set forth herein, and to such other person or place as the Sublessor may from time to time designate in a notice to the Sublessee.

				

		

		
			To Sublessor: Daniel S. Laikin, National Lampoon, Inc. 8228 Sunset Blvd., 3rd Floor, Los Angeles, CA 90046 (310) 474-5252

				

				To Sublessee: Robert Levy, Red Rock Pictures Inc., 8228 Sunset Blvd., 1st Floor, Los Angeles, CA 90046

		

			Compliance. THIS SHALL BE OF NO FORCE OR EFFECT UNLESS CONSENTED BY THE SUBLESSOR WITHIN TEN (10) DAYS AFTER EXECUTION HEREOF.
		

		
			Sublessor:

				

				NATIONAL LAMPOON, INC.

					

				By: /s/ Daniel S. Laikin

					

				Its: Chief Executive Officer

				

				Date: 9/06/06

				

				RED ROCK PICTURES, INC.

					

				By: /s/ Robert Levy

					

				Its:  President

				

				Date 9/06/06NEITHER  THIS  WARRANT  NOR  THE  SECURITIES  INTO  WHICH  THIS  WARRANT IS
EXERCISABLE  HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR
THE  SECURITIES  COMMISSION  OF  ANY  STATE  IN  RELIANCE UPON AN EXEMPTION FROM
REGISTRATION  UNDER  THE  SECURITIES  ACT  OF  1933, AS AMENDED (THE "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY  NOT  BE  OFFERED  OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER  THE  SECURITIES ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION  FROM  THE  REGISTRATION  REQUIREMENTS  THEREUNDER  AND  IN
COMPLIANCE  WITH  APPLICABLE  STATE  SECURITIES  OR  BLUE  SKY  LAWS.

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

                                DERMISONICS, INC.

                      COMMON STOCK PURCHASE WARRANT NO. 96

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

Dated:  September  14,  2006

     DERMISONICS,  INC.,  a corporation organized and existing under the laws of
the  State of Nevada (the "Company"), hereby certifies that, for value received,
MERCATUS  & PARTNERS, LP or itsW registered assigns (the "Holder"), is entitled,
subject to the terms set forth below, to purchase from the Company up to a total
of  1,300,000  shares  of  Common Stock, $0.001 par value per share (the "Common
Stock"), of the Company (each such share, a "Warrant Share" and all such shares,
the  "Warrant  Shares")  at  an  exercise  price equal to $.25 per Warrant Share
(hereinafter  this common stock purchase warrant is referred to as the "Warrant"
or  the  "Warrants").  The  Warrants  may  be  exercised  through  and including
September  30,  2009  (the  "Expiration  Date").  This Warrant is subject to the
following  additional  terms  and  conditions:

     1.     Registration  of  Warrant;  Registration of Transfers and Exchanges.
            -------------------------------------------------------------------

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

          (b)     The Company shall register the transfer of any portion of this
Warrant  in  the Warrant Register, upon surrender of this Warrant, with the Form
of  Assignment  attached hereto duly completed and signed, to the Company at its
address

                                Page 1 of Eight
<PAGE>
for  notice  specified  in  Section  10  along with an opinion of counsel to the
Holder  reasonably  acceptable  to  the  Company  that such transfer may be made
without  compliance  with  Federal  and  state  securities  laws.  Upon any such
registration  or  transfer,  a  new  warrant  to  purchase  Common  Stock,  in
substantially  the form of this Warrant (any such new warrant, a "New Warrant"),
evidencing  the  portion  of  this Warrant so transferred shall be issued to the
transferee  and  a  New Warrant evidencing the remaining portion of this Warrant
not  so  transferred,  if  any, shall be issued to the transferring Holder.  The
acceptance  of  the  New  Warrant  by the transferee thereof shall be deemed the
acceptance  of  such transferee of all of the rights and obligations of a holder
of  a  Warrant.

          (c)     This Warrant is exchangeable, upon the surrender hereof by the
Holder  to  the  office  of  the  Company at its address for notice specified in
Section  10  for one or more New Warrants, evidencing in the aggregate the right
to  purchase the number of Warrant Shares which may then be purchased hereunder.
Any  such  New  Warrant  will  be  dated  the  date  of  such  exchange.

     2.     Duration, Exercise and Redemption of Warrants.
            ---------------------------------------------

          (a)     This  Warrant shall be exercisable by the registered Holder on
any business day before 5:00 P.M., New York City time, at any time and from time
to time on or after the date hereof, in accordance with the Vesting Schedule, to
and  including  the  Expiration  Date.  At  5:00 P.M., New York City time on the
Expiration  Date,  the portion of this Warrant not exercised prior thereto shall
be  and  become  void  and of no value.  This Warrant shall be redeemable by the
Company  as  provided  in  Section  4,  below.

          (b)     Subject  to  Sections  1(c)  and  5,  upon  surrender  of this
Warrant,  with  the  Form of Election to Purchase attached hereto duly completed
and signed, to the Company at its address for notice set forth in Section 10 and
upon  payment  of  the Exercise Price multiplied by the number of Warrant Shares
that  the  Holder  intends  to purchase hereunder, in lawful money of the United
States of America, in cash or by certified or official bank check or checks, all
as  specified  by  the  Holder  in the Form of Election to Purchase, the Company
shall promptly (but in no event later than three business days after the Date of
Exercise  (as  defined  herein))  issue  or  cause  to be issued and cause to be
delivered  to  or upon the written order of the Holder and in such name or names
as  the Holder may designate, a certificate for the Warrant Shares issuable upon
such exercise.  Any person so designated by the Holder to receive Warrant Shares
shall  be  deemed to have become a holder of record of such Warrant Shares as of
the  Date  of  Exercise of this Warrant.  A "Date of Exercise" means the date on
which  the  Company shall have received (i) this Warrant (or any New Warrant, as
applicable),  with the Form of Election to Purchase attached hereto (or attached
to  such  New  Warrant)

                                Page 2 of Eight
<PAGE>
appropriately  completed and duly signed, and (ii) payment of the Exercise Price
for  the  number  of  Warrant  Shares  so  indicated  by the holder hereof to be
purchased.

          (c)     This  Warrant shall be exercisable, either in its entirety or,
from  time to time, for a portion of the number of Warrant Shares.  If less than
all  of  the  Warrant  Shares  which  may  be  purchased  under this Warrant are
exercised  at  any  time,  the Company shall issue or cause to be issued, at its
expense,  a New Warrant evidencing the right to purchase the remaining number of
Warrant  Shares  for  which  no  exercise  has  been  evidenced by this Warrant.

     3.     Redemption  of Warrant.  The Warrants may be redeemed by the Company
            ----------------------
at  any  time  on  30  day's  written  notice  to the Holder at the last address
therefor  as  it  shall appear upon the Warrant Register at a price of $0.01 per
Warrant  commencing  immediately  after  the Registration Date provided that the
average  closing  bid  price  per  share of Common Stock for the 30 trading days
ending  five  days prior to the date of the redemption notice of the Warrants is
at  least  $20.00  per  share.

     4.     Payment  of Taxes.  The Company will pay all documentary stamp taxes
            -----------------
attributable  to  the  issuance  of  Warrant  Shares  upon  the exercise of this
Warrant;  provided,  however,  that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the registration
of  any certificates for Warrant Shares or Warrants in a name other than that of
the Holder, and the Company shall not be required to issue or cause to be issued
or  deliver  or cause to be delivered the certificates for Warrant Shares unless
or  until  the person or persons requesting the issuance thereof shall have paid
to  the  Company  the  amount  of  such  tax  or  shall  have established to the
satisfaction  of  the  Company that such tax has been paid.  The Holder shall be
responsible for all other tax liability that may arise as a result of holding or
transferring  this  Warrant  or  receiving  Warrant Shares upon exercise hereof.

     5.     Replacement  of Warrant.  If this Warrant is mutilated, lost, stolen
            -----------------------
or  destroyed,  the  Company  shall  issue or cause to be issued in exchange and
substitution  for  and  upon cancellation hereof, or in lieu of and substitution
for  this  Warrant,  a New Warrant, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction and indemnity, if
reasonably  satisfactory  to  it.  Applicants  for  a  New  Warrant  under  such
circumstances  shall  also  comply  with  such  other reasonable regulations and
procedures  and  pay such other reasonable charges as the Company may prescribe.

     6.     Reservation  of  Warrant Shares.  The Company covenants that it will
            -------------------------------
at  all  times reserve and keep available out of the aggregate of its authorized
but  unissued  Common  Stock,  solely  for  the  purpose of enabling it to issue
Warrant  Shares  upon exercise of this Warrant as herein provided, the number of
Warrant  Shares  which  are

                                Page 3 of Eight
<PAGE>
then  issuable  and  deliverable  upon the exercise of this entire Warrant, free
from preemptive rights or any other actual contingent purchase rights of persons
other  than the Holders (taking into account the adjustments and restrictions of
Section  7).  The  Company  covenants  that  all Warrant Shares that shall be so
issuable  and deliverable shall, upon issuance and the payment of the applicable
Exercise  Price  in  accordance  with  the  terms  hereof,  be  duly and validly
authorized,  issued  and  fully  paid  and  nonassessable.

     7.     Certain  Adjustments.  The  Exercise  Price  and  number  of Warrant
            --------------------
Shares  issuable  upon  exercise  of this Warrant are subject to adjustment from
time  to  time as set forth in this Section 7.  Upon each such adjustment of the
Exercise  Price pursuant to this Section 7, the Holder shall thereafter prior to
the  Expiration  Date  be  entitled to purchase, at the Exercise Price resulting
from  such  adjustment, the number of Warrant Shares obtained by multiplying the
Exercise  Price  in effect immediately prior to such adjustment by the number of
Warrant  Shares issuable upon exercise of this Warrant immediately prior to such
adjustment and dividing the product thereof by the Exercise Price resulting from
such  adjustment.

          (a)     If the Company, at any time while this Warrant is outstanding,
(i) shall pay a stock dividend or otherwise make a distribution or distributions
on  shares  of  its  Common  Stock  (as  defined below) or on any other class of
capital stock (and not the Common Stock) payable in shares of Common Stock, (ii)
subdivide  outstanding shares of Common Stock into a larger number of shares, or
(iii)  combine  outstanding  shares  of  Common  Stock  into a smaller number of
shares,  the  Exercise  Price  shall  be  multiplied  by a fraction of which the
numerator  shall  be  the  number  of shares of Common Stock (excluding treasury
shares, if any) outstanding before such event and of which the denominator shall
be  the  number  of  shares  of Common Stock (excluding treasury shares, if any)
outstanding  after  such  event.  Any  adjustment  made pursuant to this Section
shall  become  effective immediately after the record date for the determination
of  stockholders  entitled  to  receive  such dividend or distribution and shall
become  effective  immediately  after  the  effective  date  in  the  case  of a
subdivision  or  combination,  and  shall  apply  to successive subdivisions and
combinations.

          (b)     In  case  of  any  reclassification  of  the Common Stock, any
consolidation  or merger of the Company with or into another person, the sale or
transfer  of  all or substantially all of the assets of the Company in which the
consideration  therefor  is  equity  or  equity  equivalent  securities  or  any
compulsory  share  exchange pursuant to which the Common Stock is converted into
other securities or property, then the Holder shall have the right thereafter to
exercise  this  Warrant  only  into the shares of stock and other securities and
property  receivable  upon  or  deemed  to  be  held  by holders of Common Stock
following  such reclassification, consolidation, merger, sale, transfer or share
exchange,  and  the  Holder  shall  be  entitled  upon  such

                                Page 4 of Eight
<PAGE>
event to receive such amount of securities or property of the Company's business
combination partner equal to the amount of Warrant Shares such Holder would have
been  entitled  to  had  such Holder exercised this Warrant immediately prior to
such  reclassification, consolidation, merger, sale, transfer or share exchange.
The  terms  of  any such consolidation, merger, sale, transfer or share exchange
shall  include  such  terms so as to continue to give to the Holder the right to
receive  the  securities  or  property  set  forth in this Section 7(b) upon any
exercise  following  any  such  reclassification,  consolidation,  merger, sale,
transfer  or  share  exchange.

          (c)     If the Company, at any time while this Warrant is outstanding,
shall  distribute  to  all  holders  of Common Stock (and not to holders of this
Warrant)  evidences  of  its  indebtedness  or  assets  or rights or warrants to
subscribe  for or purchase any security (excluding those referred to in Sections
7(a),  (b)  and  (d)),  then  in  each  such  case  the  Exercise Price shall be
determined  by multiplying the Exercise Price in effect immediately prior to the
record  date  fixed  for  determination of stockholders entitled to receive such
distribution  by a fraction of which the denominator shall be the Exercise Price
determined  as  of  the  record date mentioned above, and of which the numerator
shall be such Exercise Price on such record date less the then fair market value
at such record date of the portion of such assets or evidence of indebtedness so
distributed applicable to one outstanding share of Common Stock as determined by
a  nationally  recognized  or  major regional investment banking firm or firm of
independent  certified  public accountants of recognized standing (which, in all
events,  may be the firm that regularly examines the financial statements of the
Company)  (an  "Appraiser")  mutually selected in good faith by the holders of a
majority  in  interest  of  the  Warrants then outstanding and the Company.  Any
determination  made  by  the  Appraiser  shall  be  final.

          (d)     If, at any time while this Warrant is outstanding, the Company
shall  issue  or  cause  to be issued rights or warrants to acquire or otherwise
sell  or  distribute shares of Common Stock to all holders of Common Stock for a
consideration  per  share  less  than  the  Exercise Price then in effect, then,
forthwith  upon  such  issue or sale, the Exercise Price shall be reduced to the
price  (calculated  to  the  nearest  cent) determined by dividing (i) an amount
equal  to  the  sum  of  (A)  the  number  of shares of Common Stock outstanding
immediately  prior  to  such issue or sale multiplied by the Exercise Price, and
(B)  the  consideration, if any, received or receivable by the Company upon such
issue  or  sale  by  (ii) the total number of shares of Common Stock outstanding
immediately  after  such  issue  or  sale.

          (e)     For  the  purposes  of  this  Section 7, the following clauses
shall  also  be  applicable:

                                Page 5 of Eight
<PAGE>
               (i)  Record Date.  In case the Company shall take a record of the
                    -----------
holders  of  its Common Stock for the purpose of entitling the holders of Common
Stock (A) to receive a dividend or other distribution payable in Common Stock or
in securities convertible or exchangeable into shares of Common Stock, or (B) to
subscribe for or purchase Common Stock or securities convertible or exchangeable
into  shares  of  Common  Stock, then such record date shall be deemed to be the
date  of  the  issue  or  sale of the shares of Common Stock deemed to have been
issued or sold upon the declaration of such dividend or the making of such other
distribution  or  the  date  of  the  granting  of such right of subscription or
purchase,  as  the  case  may  be.

               (ii)  Treasury  Shares.  The  number  of  shares  of Common Stock
                     ----------------
outstanding  at  any given time shall not include shares owned or held by or for
the  account  of  the  Company,  and the disposition of any such shares shall be
considered  an  issue  or  sale  of  Common  Stock.

          (f)     All  calculations  under  this  Section 7 shall be made to the
nearest  cent  or  the  nearest  1/100th  of  a  share,  as  the  case  may  be.

          (g)     If:

               (i)     the  Company  shall  declare  a  dividend  (or  any other
                       distribution)  on  its  Common  Stock;  or

               (ii)    the  Company  shall  declare  a special nonrecurring cash
                       dividend  on  or  a  redemption  of  its Common Stock; or

               (iii)   the  Company  shall authorize the granting to all holders
                       of  the  Common  Stock  rights  or  warrants to subscribe
                       for  or purchase any shares of capital stock of any class
                       or  of  any  rights;  or

               (iv)    the  approval of any stockholders of the Company shall be
                       required  in  connection  with  any  reclassification  of
                       the  Common  Stock  of  the Company, any consolidation or
                       merger  to  which  the  Company  is  a party, any sale or
                       transfer of all or substantially all of the assets of the
                       Company,  or  any  compulsory  share exchange whereby the
                       Common  Stock is converted into other securities, cash or
                       property;  or

               (v)     the  Company  shall  authorize the voluntary dissolution,
                       liquidation or winding up of the affairs of the Company;

then the Company shall cause to be mailed to each Holder at their last addresses
as  they shall appear upon the Warrant Register, at least 30 calendar days prior
to  the  applicable

                                Page 6 of Eight
<PAGE>
record or effective date hereinafter specified, a notice stating (x) the date on
which  a  record  is to be taken for the purpose of such dividend, distribution,
redemption,  rights  or warrants, or if a record is not to be taken, the date as
of  which the holders of Common Stock of record to be entitled to such dividend,
distributions,  redemption,  rights  or warrants are to be determined or (y) the
date  on  which  such reclassification, consolidation, merger, sale, transfer or
share  exchange  is  expected  to  become effective or close, and the date as of
which it is expected that holders of Common Stock of record shall be entitled to
exchange  their  shares  of  Common Stock for securities, cash or other property
deliverable  upon  such reclassification, consolidation, merger, sale, transfer,
share  exchange, dissolution, liquidation or winding up; provided, however, that
                                                         --------  -------
the  failure to mail such notice or any defect therein or in the mailing thereof
shall  not  affect the validity of the corporate action required to be specified
in  such  notice.

     8.     Payment  of Exercise Price.  The Holder may exercise this Warrant by
            --------------------------
tendering  to  the Company cash or certified or official bank check or checks in
an  amount  calculated by multiplying the Exercise Price per share by the number
of  Warrant  Shares  the  Holder  desires  to  purchase.

     9.     Fractional  Shares.  The  Company  shall not be required to issue or
            ------------------
cause  to  be  issued fractional Warrant Shares on the exercise of this Warrant.
The  number  of full Warrant Shares which shall be issuable upon the exercise of
this  Warrant  shall be computed on the basis of the aggregate number of Warrant
Shares purchasable on exercise of this Warrant so presented.  If any fraction of
a  Warrant Share would, except for the provisions of this Section 9, be issuable
on  the  exercise  of this Warrant, the Company shall, at its option, (i) pay an
amount  in  cash equal to the Exercise Price multiplied by such fraction or (ii)
round  the  number  of  Warrant  Shares  issuable,  up to the next whole number.

     10.     Notices.  Any and all notices or other communications or deliveries
             -------
hereunder  shall  be  in  writing and shall be deemed given and effective on the
earliest  of  (i)  the  date of transmission, if such notice or communication is
delivered  via  facsimile  at  the  facsimile telephone number specified in this
Section,  (ii)  the  business  day  following  the  date  of mailing, if sent by
internationally  recognized  overnight  courier  service,  or  (iii) upon actual
receipt by the party to whom such notice is required to be given.  The addresses
for  such  communications  shall  be:

          If to the Company:     DERMISONICS, INC.
                                 c/o Bruce H. Haglund
                                 2 Park Plaza, Suite 450
                                 Irvine, California  92164
                                 Facsimile Number: (949) 733-1188

                                Page 7 of Eight
<PAGE>
          If to the Holder:      Mercatus & Partners, Limited
                                 c/o Cary Masi
                                 3805 Hamby Oaks Dr.
                                 Alpharetta, Georgia 30004
                                 Facsimile Number: 678-240-9069

Either party may change the address and facsimile number to which notices are to
be  sent by delivering notice to the other party in accordance with this Section
10.

     11.     Warrant  Agent.
             --------------

          (a)     The  Company  shall serve as warrant agent under this Warrant.
Upon 30 days' notice to the Holder, the Company may appoint a new warrant agent.

          (b)     Any  corporation  into  which  the  Company or any new warrant
agent may be merged or any corporation resulting from any consolidation to which
the  Company  or  any  new  warrant agent shall be a party or any corporation to
which  the  Company  or any new warrant agent transfers substantially all of its
corporate  trust  or shareholders services business shall be a successor warrant
agent  under  this  Warrant without any further act.  Any such successor warrant
agent  shall  promptly  cause  notice  of  its succession as warrant agent to be
mailed (by first class mail, postage prepaid) to the Holder at the Holder's last
address  as  shown  on  the  Warrant  Register.

     12.     Miscellaneous.
             -------------

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

          (b)     Subject to Section 12(a), above, nothing in this Warrant shall
be construed to give to any person or corporation other than the Company and the
Holder  any  legal  or equitable right, remedy or cause under this Warrant; this
Warrant  shall  be  for  the  sole  and exclusive benefit of the Company and the
Holder.

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

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

                                Page 8 of Eight
<PAGE>
          (e)     In  case  any  one  or  more of the provisions of this Warrant
shall  be  invalid  or  unenforceable  in  any  respect,  the  validity  and
enforceability  of  the remaining terms and provisions of this Warrant shall not
in  any way be affected or impaired thereby and the parties will attempt in good
faith  to  agree  upon  a  valid  and  enforceable  provision  which  shall be a
commercially  reasonable  substitute  therefor,  and  upon  so  agreeing,  shall
incorporate  such  substitute  provision  in  this  Warrant.

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

                                        DERMISONICS, INC.

                                        By:
                                            ---------------------------------
                                            Bruce  H.  Haglund,  Chairman

                                Page 9 of Eight
<PAGE>
                          FORM OF ELECTION TO PURCHASE
         (To be executed by the Holder to exercise the right to purchase
               shares of Common Stock under the foregoing Warrant)

To:  DERMISONICS,  INC.

     In  accordance  with  the  Warrant  enclosed  with this Form of Election to
Purchase,  the  undersigned  hereby  irrevocably  elects to purchase ___________
shares  of  Common  Stock  ("Common  Stock"),  $0.001  par  value  per share, of
DERMISONICS,  INC.  and  encloses  herewith  $________  in  cash or certified or
official bank check or checks, which sum represents the aggregate Exercise Price
(as  defined  in  the Warrant) for the number of shares of Common Stock to which
this  Form  of  Election to Purchase relates, together with any applicable taxes
payable  by  the  undersigned  pursuant  to  the  Warrant.

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

Print  name  and  address:
                                   -----------------------------------

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

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

                                   -----------------------------------
Print  social  security  or
tax  identification  number:       -----------------------------------

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

Print  name  and  address:
                                   -----------------------------------

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

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

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

                          (The signature page follows.)

<PAGE>
Dated:                             Name of Holder:
      ----------                                      --------------------------
                                   Signature:
                                                      --------------------------
                                   By (if entity):
                                                      --------------------------
                                   Name (if entity):
                                                      --------------------------
                                   Title (if entity):
                                                      --------------------------

                                   (Signature  must  conform  in all respects to
                                   Name  of  holder  as specified on the face of
                                   the Warrant)

<PAGE>
           [To be completed and signed only upon transfer of Warrant]

     FOR  VALUE  RECEIVED,  the  undersigned hereby sells, assigns and transfers
unto____________________________________________________________________________
the  right  represented  by  the  within  Warrant  to  purchase_________________
shares  of Common Stock of DERMISONICS, INC. to which the within Warrant relates
and  appoints the Secretary of DERMISONICS, INC. attorney to transfer said right
on  the  books  of  DERMISONICS,  INC.  with  full  power of substitution in the
premises.

Dated:                             Name of Holder:
      ----------                                      --------------------------
                                   Signature:
                                                      --------------------------
                                   By (if entity):
                                                      --------------------------
                                   Name (if entity):
                                                      --------------------------
                                   Title (if entity):
                                                      --------------------------

                                   (Signature  must  conform  in all respects to
                                   name  of  holder  as specified on the face of
                                   the Warrant)

Name and Address of Transferee:
                                        -----------------------------------

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

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

In the presence of:

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

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