Document:

FINANCIAL ADVISORY AND INVESTMENT BANKING AGREEMENT

      THIS FINANCIAL ADVISORY AND INVESTMENT BANKING AGREEMENT is made as of the
28th day of July,  2005 by and between  North Coast  Securities  Corporation,  a
California  corporation  (the "Agent"),  and  HealthRenu  Medical Inc., a Nevada
corporation (collectively with its affiliates the "Company").

                                    RECITALS:

      WHEREAS,  the  Company  wishes  to engage  the  Agent to render  financial
Advisory and investment  banking services to the Company and the Agent wishes to
render such services, all as provided below.

      NOW, THEREFORE, in consideration of the premises and the mutual agreements
contained  in this  Agreement,  and of  other  consideration  (the  receipt  and
sufficiency  of which are  acknowledged  by each  Party),  the Parties  agree as
follows:

                                    ARTICLE 1

               FINANCIAL ADVISORY AND INVESTMENT BANKING SERVICES

1.1   Financial Advisory And Investment Banking Services

      (a)   For the 12-month period commencing on the effective date of
this  Agreement as set forth in Section 1.4 below (the  "Effective  Date"),  the
Agent shall provide the Company with such regular and customary financial advice
as is reasonably requested by the Company,  provided that the Agent shall not be
required to undertake  duties not  reasonably  within the scope of the financial
advisory or investment  banking services  contemplated by this Agreement.  It is
understood and  acknowledged by the Parties that the value of the Agent's advice
is not readily  quantifiable,  and that the Agent shall be  obligated  to render
advice  upon the  request  of the  Company,  in good  faith,  but  shall  not be
obligated to spend any specific  amount of time in so doing.  The Agent's duties
may include,  but will not necessarily be limited to, providing  recommendations
concerning the following financial and related matters:

      1.    Disseminating  information  about  the  Company  to  the  investment
            community at large;

      2.    Rendering  advice and assistance in connection  with the preparation
            of reports or other communications to shareholders or creditors;

      3.    Assisting in the Company's financial public relations;

      4.    Arranging,  on behalf of the Company, at appropriate times, meetings
            with securities analysts or other  representatives of major regional
            and national investment banking firms;

                                       1
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      5.    Rendering  advice  with  regard  to any of the  following  corporate
            finance matters:

            i.    changes in the capitalization of the Company;

            ii.   changes in the Company's financial structure;

            iii.  redistribution of shareholdings of the Company's stock;

            iv.   offerings of securities in public transactions;

            v.    sales of securities in private transactions;

            vi.   alternative uses of corporate assets;

            vii.  structure and use of debt; and

            viii. sales of stock by insiders pursuant to Rule 144 or otherwise.

      (b)   In addition to the foregoing, the Agent agrees to furnish advice to
the Company as reasonably  requested by the Company in  connection  with (i) the
acquisition  and/or merger of or with other companies,  divestiture of assets or
any  other  similar  transaction,  or the  sale of the  Company  itself  (or any
significant percentage of the Company or its assets,  subsidiaries or affiliates
thereof),  and (ii)  bank  financings  or any  other  financing  from  financial
institutions  or  venture  capitalists  (including  but not  limited to lines of
credit, performance bonds, letters of credit, loans or other financings).

      (c)   The Agent shall render such other financial advisory and investment
and/or  investment  banking  services as may from time to time be agreed upon by
the Agent and the Company.

1.2   Information

      In connection with Agent's activities on the Company's behalf, the Company
will cooperate with Agent and will furnish Agent with all  information  and data
concerning  the  Company  which Agent  reasonably  believes  appropriate  to the
performance of services  contemplated by this Agreement (all such information so
furnished being the "Information") and will provide Agent with reasonable access
to the Company's officers,  directors,  employees,  independent  accountants and
legal counsel.  The Company  recognizes and confirms that Agent (i) will use and
rely primarily on the  Information  and on information  available from generally
recognized  public  sources  in  performing  the  services  contemplated  by the
Agreement,  without having  independently  verified  same,  (ii) does not assume
responsibility  for the accuracy or  completeness  of the  Information  and such
other information and (iii) will not make an independent appraisal of any of the
Company's  assets.  The  Information  to  be  furnished  by  the  Company,  when
delivered,  will be, to the best of the Company's knowledge, true and correct in
all material respects and will not contain any material misstatements of fact or
omit to state any  material  fact  necessary  to make the  statements  contained
therein not  misleading.  The Company will promptly notify Agent if it learns of
any  material  inaccuracy  or  misstatement  in, or material  omission  from any
information  thereto  delivered to Agent.  Agent agrees to keep the  Information
confidential  and  only to  release  the  Information  with the  consent  of the
Company.  Upon  termination  of this Agreement for whatever  reason,  Agent will
return the Information  (without keeping any copies thereof) forthwith on demand
by the Company.  Agent on its part represents,  warrants, and agrees that it has
and at all times while it is performing  services  under this  Agreement it will
comply with all laws, rules, and regulations applicable to it in connection with
the services it performs under this Agreement.

                                       2
<PAGE>

1.3   Compensation

      In  consideration  for the  services  to be  rendered  by the Agent to the
Company  pursuant to this Agreement,  the Company shall  compensate the Agent as
follows:  (i) a payment of $15,000 upon  execution of this  Agreement;  (ii) the
issuance of 500,000 warrants to the Agent, each warrant to purchase one share of
the  Company's  common  stock at an  exercise  price of $0.50  per  share on the
Effective  Date; and (iii) the payment of a monthly fee of $5,000 payable on the
first day of each month beginning after the Effective Date.

1.4   Effective Date

      This Agreement  shall become  effective on the next business day following
the date of the  closing  (or final  closing,  if more than one  closing) of the
private  placement of the Company made pursuant to the Placement Agent Agreement
between parties dated as of the date hereof.

                                    ARTICLE 2
                                     GENERAL

2.1   Indemnification

      The Company  agrees to indemnify and hold harmless  Agent,  to the fullest
extent permitted by law, from and against any and all losses,  claims,  damages,
liabilities,  obligations,  penalties,  judgments,  awards,  costs, expenses and
disbursements (and any and all actions, suits, proceedings and investigations in
respect   thereof  and  any  and  all  legal  and  other  costs,   expenses  and
disbursements  in giving  testimony  or  furnishing  documents  in response to a
subpoena or otherwise,  including,  without limitation,  the costs, expenses and
disbursements,  as and when incurred,  of investigating,  preparing or defending
any such action, suit, proceeding or investigation (whether or not in connection
with litigation in which Agent is a party)), directly or indirectly,  caused by,
relating to, based upon, arising out of or in connection with Agent's acting for
the  Company,  including,  without  limitation,  any act or omission by Agent in
connection  with its acceptance of or the performance or  nonperformance  of its
obligations  under the  Agreement,  or otherwise  arising  from this  Agreement;
provided,  however, that such indemnity agreement shall not apply to any portion
of any such loss,  claim,  damage,  liability,  obligation,  penalty,  judgment,
award,  cost,  expense  or  disbursement  to the  extent  it is found in a final
judgment by a court of competent jurisdiction (not subject to further appeal) to
have  resulted  primarily  from the  negligence,  gross  negligence  or  willful
misconduct of Agent, in which case Agent shall indemnify the Company to the same
extent  as set  forth  herein  with  respect  to the  Company's  indemnification
obligations to Agent.

                                       3
<PAGE>

      These  Indemnification  provisions  shall be in addition to any  liability
which a party may otherwise  have to the other party or the persons  indemnified
below in this sentence and shall extend to the following:  the parties and their
respective affiliated entities,  directors,  officers, employees, legal counsel,
agents and  controlling  persons  (within the meaning of the federal  securities
law). All  references to a party in these  Indemnification  provisions  shall be
understood to include any and all of the foregoing.

      If any action, suit, proceeding or investigation is commenced, as to which
a party proposes to demand indemnification, it shall notify the other party with
reasonable promptness;  provided,  however, that the indemnifying party shall be
relieved  from  its  obligations  hereunder  to  the  extent  a  failure  by the
indemnified  party to notify the indemnifying  party with reasonable  promptness
results  in a  significant  increase  in the  indemnifying  party's  obligations
hereunder.  The indemnified  party shall have the right to retain counsel of its
own choice to represent it, which counsel shall be reasonably  acceptable to the
indemnifying  party, and the  indemnifying  party shall pay the reasonable fees,
expenses and  disbursements  of such  counsel;  and such counsel  shall,  to the
extent  consistent with its  professional  responsibilities,  cooperate with the
indemnifying  party and any counsel  designated by the  indemnifying  party. The
indemnifying  party shall be liable for any  settlement of any claim against the
indemnified  party made with the  indemnifying  party's written  consent,  which
consent shall not be unreasonably  withheld.  The indemnifying  party shall not,
without prior written consent of the indemnified party, settle or compromise any
claim,  or permit a default or consent to the entry of any  judgment  in respect
thereof, unless such settlement,  compromise or consent includes, as a condition
or term  thereof,  the giving by the  claimant  to the  indemnified  party of an
unconditional  and  irrevocable  release  from all  liability in respect of such
claim.

      In order to provide for just and  equitable  contribution,  if a claim for
indemnification  pursuant to these Indemnification  provisions is made but it is
found in a final judgment by a court of competent  jurisdiction  (not subject to
further appeal) that such indemnification may not be enforced in such case, even
though the express  provisions hereof provide for  indemnification in such case,
then the Company, on the one had, and Agent, on the other hand, shall contribute
to the  losses,  claims,  damages,  obligations,  penalties,  judgments,  award,
liabilities,  costs, expenses and disbursements to which the indemnified persons
may be subject in accordance with the relative benefits received by the Company,
on the  one  hand,  and  Agent,  on the  other  hand,  in  connection  with  the
statements,  acts or omissions which resulted in such losses,  claims,  damages,
obligations,  penalties,  judgments,  awards,  liabilities,  costs,  expenses or
disbursements  and  the  relevant   equitable   considerations   shall  also  be
considered.  No person found liable for a fraudulent  misrepresentation shall be
entitled to  contribution  from any person who is not also found liable for such
fraudulent misrepresentation.  Notwithstanding the foregoing, Agent shall not be
obligated to  contribute  any amount  hereunder  that exceeds the amount of fees
previously  received by Agent pursuant to the Agreement nor shall the Company be
obligated to contribute any amount  hereunder that exceeds the amount of the net
proceeds  received by Company from  transactions  consummated with the advise or
other services of the Agent as contemplated by this Agreement.

      Neither  termination nor completion of the engagement of Agent referred to
the above shall affect these Indemnification  provisions which shall continue to
remain operative and in full force and effect.

                                       4
<PAGE>

2.2.1 Interpretation and Enforcement

      (a)   The benefits of this Agreement shall inure to the parties hereto,
their respective successors and assigns and to the indemnified parties hereunder
and  their  respective  successors  and  assigns  and  representatives,  and the
obligations  and  liabilities  assumed in this  Agreement by the parties  hereto
shall be binding upon their respective successors and assigns.

      (b)   Each of the Company and Agent (and, to the extent permitted by law,
on behalf of their respective  equity holders and creditors)  hereby  knowingly,
voluntarily and  irrevocably  waives any right it may have to a trial by jury in
respect of any claim  based  upon,  arising  out of or in  connection  with this
Agreement  and the  transactions  contemplated  hereby.  Each of the Company and
Agent  hereby  certify  that no  representative  or agent of the other party has
represented expressly or otherwise that such party would not seek to enforce the
provisions  of this waiver.  Further each of the Company and Agent  acknowledges
that each party has been induced to enter this  Agreement  by,  inter alia,  the
provisions of this Section.

      (c)   If it is found in a final judgment by a court of competent
jurisdiction  (not subject to further appeal) that any term or provision  hereof
is invalid or unenforceable, (i) the remaining terms and provisions hereof shall
be unimpaired  and shall remain in full force and effect and (ii) the invalid or
unenforceable provision or term shall be replaced by a term or provision that is
valid and enforceable and that comes closest to expressing the intention of such
invalid or unenforceable term or provision.

      (d)   This Agreement embodies the entire agreement and understanding of
the parties hereto and supersedes any and all prior agreements, arrangements and
understanding  relating  to the matters  provided  for  herein.  No  alteration,
waiver,  amendment,  change or  supplement  hereto shall be binding or effective
unless  the  same  is  set  forth  in  writing  signed  by  a  duly   authorized
representative of each party.

      (e)   This Agreement does not create, and shall not be construed as
creating,  rights enforceable by any person or entity not a party hereto, except
those entitled thereto by virtue of the  indemnification  provisions hereof. The
Company acknowledges and agrees that with respect to the services to be rendered
by Agent,  Agent is not and shall not be construed as a fiduciary of the Company
and shall have no duties or  liabilities  to the equity  holders or creditors of
the Company or any other person by virtue of this Agreement and the retention of
Agent  hereunder,  all of which are hereby  expressly  waived.  The Company also
agrees that Agent shall not have any liability  (including  without  limitation,
liability  for  losses,  claims,  damages,  obligations,  penalties,  judgments,
awards,  liabilities,  costs,  expenses  or  disbursements  resulting  from  any
negligent  act or omission of Agent,  whether  direct or indirect,  in contract,
tort  or  otherwise)  to  the  Company  or to  any  person  (including,  without
limitation,  equity holders and creditors of the Company)  claiming  through the
Company for or in connection  with the  engagement of Agent,  this Agreement and
the transactions  contemplated  hereby,  except for liabilities which arise as a
result of the negligence,  gross negligence or willful  misconduct of Agent. The
Company  acknowledges  that Agent was induced to enter into this  Agreement  by,
inter alia, the provisions of this Section.

                                       5
<PAGE>

2.3   Representations

      (a)   The Company has all requisite corporate power and authority to
enter  into  this  Agreement  and the  transactions  contemplated  hereby.  This
Agreement has been duly and validly authorized by all necessary corporate action
on the part of the  Company  and has been duly  executed  and  delivered  by the
Company and  constitutes  a legal,  valid and binding  agreement of the Company,
enforceable  in  accordance  with its terms  (except  as  enforceability  may be
limited by applicable bankruptcy, insolvency or similar laws).

      (b)   Agent has all requisite corporate power and authority to enter into
this Agreement,  once executed by Agent's officers. This Agreement has been duly
and validly  authorized by all necessary  corporate  action on the part of Agent
and has been duly executed and delivered by Agent and constitutes a legal, valid
and binding agreement of Agent, enforceable in accordance with its terms (except
as enforceability may be limited by applicable bankruptcy, insolvency or similar
laws).

2.4   Applicable Law

      The validity and  interpretation  of this Agreement  shall be governed by,
and construed and enforced in accordance with, the laws of the State of New York
applicable to agreements made and to be fully performed therein  (excluding such
state's conflicts of laws rules).

2.5   Counterparts

      This  Agreement  may be  executed  in any  number  of  counterparts.  Each
executed   counterpart  shall  be  deemed  to  be  an  original.   All  executed
counterparts taken together shall constitute one Agreement.

                                       6
<PAGE>

      IN  WITNESS  OF their  agreement,  the  Parties  have duly  executed  this
Agreement as of the date first written above.

                                     NORTH COAST SECURITIES CORPORATION

                                     By:
                                         ---------------------------------------
                                         Name:  Frank Pasterczyk
                                         Title: President and Chief Executive
                                                Officer

                                     HEALTHRENU MEDICAL, INC.

                                     By:
                                         ---------------------------------------
                                         Robert W. Prokos
                                         President and Chief Executive Officer

                                       7North Coast Securities Corporation
                             9995 Gate Parkway North
                                    Suite 300
                             Jacksonville, FL 32246

                                  July 28, 2005

HealthRenu Medical, Inc.
12777 Jones Road
Suite 481
Houston, TX 77070
Attn:  Robert W. Prokos
       President and Chief Executive Officer

Dear Rob:

We are pleased to confirm our mutual  understanding  regarding  the retention of
North  Coast  Securities  Corporation  ("Agent")  by  HealthRenu  Medical,  Inc.
(collectively  with its  affiliates,  the  "Company"),  subject to the terms and
conditions of this agreement (the "Agreement").

1.    Agent will act as the Company's Agent in connection with the private
placement of up to $1,000,000 of Equity Units (referred to as the "Units"), each
Unit  consisting of a  convertible  promissory  note in the principal  amount of
$1,000 (the  "Notes") and two warrants to purchase one share of common stock for
each share of common stock issued upon  conversion of the Notes.  The Units will
be  issued  only to  accredited  investors  (as  defined  in Rule 501  under the
Securities  Act of 1933, as amended),  on terms mutually  agreeable  between the
parties  hereto,  certain of which  terms are set forth on  Exhibit  A,  annexed
hereto and incorporated  herein by reference (such private placement referred to
as the "Offering"). The Offering will be made on a best efforts basis subject to
the terms and conditions set forth herein.  Agent will act as the  non-exclusive
Agent for the Offering and sale of the Units constituting the Offering.

2.    Agent will provide the Company with the  following  services in connection
with the Offering:

      A.    Assisting the Company in preparation of documents in connection with
            the  Offering,  and  acting  as the  Agent in  connection  with such
            Offering;

      B.    Coordinating the marketing effort for the sale of the Securities;

      C.    Assisting  the  Company  in  negotiating   transaction   terms  with
            potential investors in the Securities; and

<PAGE>

HealthRenu Medical, Inc.
July 28, 2005
Page 2

      D.    Providing  such  other  advice,  assistance  or  services  as may be
            reasonably  requested by the Company in connection with the Offering
            and as mutually agreed upon by Agent and the Company.

3.    Agent's compensation for acting as Agent for the Company in connection
with the Offering pursuant to this Agreement will be as follows:

      A.    A fee equal to 12% of the gross  proceeds  raised in the Offering by
            Agent  (the  "Offering  Amount"),  payable  on the  Offering  Amount
            subscribed for and accepted at each Closing of the Offering.

      B.    At each Closing of the Offering,  the Company shall pay to Agent,  a
            non-accountable  expense  allowance in the amount equal to 3% of the
            Offering Amount subscribed for and accepted at that Closing.

      C.    Agent  will  receive as a Due  Diligence  and  Pre-Marketing  Fee, a
            payment  from  the  Company  of  $25,000  upon   execution  of  this
            Agreement,  to cover the costs and expenses of Agent's due diligence
            investigation and pre-marketing activities on behalf of the Company.

      D.    Agent will  receive  warrants to  purchase  that number of shares of
            common stock of the Company as equals 10% of the number of shares of
            common  stock that would be issuable to  investors  in the  Offering
            assuming  conversion of Notes at each applicable  closing date, with
            an  exercise  price  equal  to 110% of the  conversion  price of the
            shares  on such  date,  a term of four  years  and all  other  terms
            substantially  the same as those of  other  warrants  issued  by the
            Company in the offering.

4.    The Company will pay all expenses  incurred by or on behalf of the Company
in connection  with the  preparation  and printing of the  Securities,  blue sky
filings and fees,  legal  expenses of the Agent up to a maximum of $15,000,  and
all other documents and instruments required in connection with the Offering.

<PAGE>

HealthRenu Medical, Inc.
July 28, 2005
Page 3

5.    In connection with Agent's activities on the Company's behalf, the Company
will cooperate with Agent and will furnish Agent with all  information  and data
concerning  the  Company  which Agent  reasonably  believes  appropriate  to the
performance of services  contemplated by this Agreement (all such information so
furnished being the "Information") and will provide Agent with reasonable access
to the Company's officers,  directors,  employees,  independent  accountants and
legal counsel.  The Company  recognizes and confirms that Agent (i) will use and
rely primarily on the  Information  and on information  available from generally
recognized  public  sources  in  performing  the  services  contemplated  by the
Agreement,  without having  independently  verified  same,  (ii) does not assume
responsibility  for the accuracy or  completeness  of the  Information  and such
other information and (iii) will not make an independent appraisal of any of the
Company's  assets.  The  Information  to  be  furnished  by  the  Company,  when
delivered,  will be, to the best of the Company's knowledge, true and correct in
all material respects and will not contain any material misstatements of fact or
omit to state any  material  fact  necessary  to make the  statements  contained
therein not  misleading.  The Company will promptly notify Agent if it learns of
any  material  inaccuracy  or  misstatement  in, or material  omission  from any
information  thereto  delivered to Agent.  Agent agrees to keep the  Information
confidential  and  only to  release  the  Information  with the  consent  of the
Company.  At the  Closing,  the  Company  shall  deliver  to  Agent  an  officer
certificate  and  opinion of counsel  reasonably  acceptable  to the Company and
Agent.  If the  transaction  contemplated by this Agreement is not completed for
whatever reason,  Agent will return the Information  (without keeping any copies
thereof)  forthwith  on demand  by the  Company.  Agent on its part  represents,
warrants,  and  agrees  that  it has and at all  times  while  it is  performing
services  under  this  Agreement  it will  comply  with  all  laws,  rules,  and
regulations  applicable to it in connection  with the services it performs under
this  Agreement,  such  compliance  to include all  licenses  in all  applicable
jurisdictions  it and its agents are  required to maintain  for  purposes of its
activities under this Agreement.

6.    The Company agrees that Agent has the right to place "tombstone" or other
advertisements  describing  its services to the Company under this  Agreement in
financial and other  newspapers and journals,  provided the Company  consents to
the same,  and which consent shall not be  unreasonably  withheld,  and provided
further that any such advertisement complies with applicable law.

7.    The  Company   agrees  to   indemnify   Agent  in   accordance   with  the
indemnification  provisions (the "Indemnification  Provisions") attached to this
Agreement,  as Exhibit B, and which Indemnification  Provisions are incorporated
herein  and made a part  hereof  and which  shall  survive  the  termination  or
expiration of this Agreement.

8.    The validity and  interpretation  of this Agreement  shall be governed by,
and construed and enforced in accordance with, the laws of the State of Delaware
applicable to agreements made and to be fully performed  therein  (excluding the
conflicts of laws rules).

9.    The benefits of this Agreement shall inure to the parties hereto, their
respective  successors and assigns and to the indemnified  parties hereunder and
their respective successors and assigns and representatives, and the obligations
and liabilities assumed in this Agreement by the parties hereto shall be binding
upon their respective successors and assigns.

10.   Each of the Company and Agent (and, to the extent permitted by law, on
behalf of their  respective  equity  holders and  creditors)  hereby  knowingly,
voluntarily and  irrevocably  waives any right it may have to a trial by jury in
respect of any claim  based  upon,  arising  out of or in  connection  with this
Agreement  and the  transactions  contemplated  hereby.  Each of the Company and
Agent  hereby  certify  that no  representative  or agent of the other party has
represented expressly or otherwise that such party would not seek to enforce the
provisions  of this waiver.  Further each of the Company and Agent  acknowledges
that each party has been induced to enter this  Agreement  by,  inter alia,  the
provisions of this Section.

<PAGE>

HealthRenu Medical, Inc.
July 28, 2005
Page 4

11.   If it is found in a final  judgment by a court of  competent  jurisdiction
(not subject to further appeal) that any term or provision  hereof is invalid or
unenforceable, (i) the remaining terms and provisions hereof shall be unimpaired
and shall remain in full force and effect and (ii) the invalid or  unenforceable
provision  or term shall be  replaced by a term or  provision  that is valid and
enforceable  and that comes closest to expressing  the intention of such invalid
or unenforceable term or provision.

12.   This Agreement embodies the entire agreement and understanding of the
parties  hereto and supersedes any and all prior  agreements,  arrangements  and
understanding  relating  to the matters  provided  for  herein.  No  alteration,
waiver,  amendment,  change or  supplement  hereto shall be binding or effective
unless  the  same  is  set  forth  in  writing  signed  by  a  duly   authorized
representative of each party.

13.   The Company has all requisite corporate power and authority to enter into
this Agreement and the transactions contemplated hereby. This Agreement has been
duly and validly authorized by all necessary corporate action on the part of the
Company and has been duly executed and delivered by the Company and  constitutes
a legal,  valid and binding agreement of the Company,  enforceable in accordance
with  its  terms  (except  as  enforceability   may  be  limited  by  applicable
bankruptcy, insolvency or similar laws).

14.   Agent has all requisite corporate power and authority to enter into this
Agreement,  once executed by Agent's Officers.  This Agreement has been duly and
validly  authorized by all necessary  corporate  action on the part of Agent and
has been duly executed and delivered by Agent and constitutes a legal, valid and
binding agreement of Agent,  enforceable in accordance with its terms (except as
enforceability  may be limited by applicable  bankruptcy,  insolvency or similar
laws).

15.   This Agreement does not create, and shall not be construed as creating,
rights  enforceable  by any person or entity not a party  hereto,  except  those
entitled thereto by virtue of the Indemnification Provisions hereof. The Company
acknowledges  and agrees  that with  respect to the  services  to be rendered by
Agent, Agent is not and shall not be construed as a fiduciary of the Company and
shall have no duties or  liabilities  to the equity  holders or creditors of the
Company or any other  person by virtue of this  Agreement  and the  retention of
Agent  hereunder,  all of which are hereby  expressly  waived.  The Company also
agrees that Agent shall not have any liability  (including  without  limitation,
liability  for  losses,  claims,  damages,  obligations,  penalties,  judgments,
awards,  liabilities,  costs,  expenses  or  disbursements  resulting  from  any
negligent  act or omission of Agent,  whether  direct or indirect,  in contract,
tort  or  otherwise)  to  the  Company  or to  any  person  (including,  without
limitation,  equity holders and creditors of the Company)  claiming  through the
Company for or in connection  with the  engagement of Agent,  this Agreement and
the transactions  contemplated  hereby,  except for liabilities which arise as a
result of the gross  negligence  or willful  misconduct  of Agent.  The  Company
acknowledges that Agent was induced to enter into this Agreement by, inter alia,
the provisions of this Section.

<PAGE>

HealthRenu Medical, Inc.
July 28, 2005
Page 5

16.   For the convenience of the parties, any number of counterparts of this
Agreement may be executed by the parties hereto. Each such counterpart shall be,
and shall be deemed to be, an  original  instrument,  but all such  counterparts
taken together shall constitute one and the same Agreement.

      If the foregoing  correctly sets forth our agreement,  we would appreciate
your  signing  the  enclosed  copy of this  letter  in the  space  provided  and
returning it to us.

                                     Very truly yours,

                                     NORTH COAST SECURITIES CORPORATION

                                     By:
                                        ----------------------------------------
                                          Frank Pasterczyk
                                          President and Chief Executive Officer

Confirmed and agreed to:

HEALTHRENU MEDICAL, INC.

By:
   ----------------------------------------
      Robert W. Prokos
      President and Chief Executive Officer

<PAGE>

                                    EXHIBIT A

                      Summary of Certain Terms of Offering

Offering                         Sale of up to  $1,000,000  of  Units to raise
                                 money   principally   for   working   capital
                                 purposes and capital expenditures. No minimum
                                 dollar amount of Units must be subscribed for
                                 in order to close.  Expenses of the offering,
                                 sales  commissions  and  additional  fees and
                                 costs of the Placement Agent will be deducted
                                 from the proceeds of the offering.

Equity Unit                      Each  Unit   consisting   of  a   convertible
                                 promissory  note in the  principal  amount of
                                 $1,000  (the  "Notes")  and two  warrants  to
                                 purchase  one share of common  stock for each
                                 share of common stock issued upon  conversion
                                 of the  Notes.  The  common  stock  shall  be
                                 subject to demand and piggyback  registration
                                 rights as described below.

Purchase Price of Units          The purchase price per unit is $1,000.

Notes                            The Notes are  convertible at the election of
                                 the holder  thereof,  at any time  commencing
                                 from and after their date of issuance and for
                                 a period  of  three  years  thereafter,  upon
                                 written notice to the Company.

                                 The  conversion  price is equal to 80% of the
                                 average  closing price of the common stock on
                                 the   OTC-BB   for   the  10   trading   days
                                 immediately  preceding the day upon which the
                                 Company receives a conversion notice from the
                                 Noteholder.

                                 The Notes  accrue  interest at the rate of 8%
                                 per annum payable in shares of Company common
                                 stock.

                                      A-1
<PAGE>

Warrants                         The  warrants   included  in  the  Units  are
                                 exercisable  for  shares  of  Company  common
                                 stock  at any time  beginning  on the date of
                                 conversion of the Notes and ending on October
                                 31, 2009. Each Unit includes two warrants for
                                 each  share  of  common   stock  issued  upon
                                 conversion  of the Note to purchase one share
                                 of our common stock.  The per share  exercise
                                 prices of the warrants will be 125% and 150%,
                                 respectively,  of the conversion price of the
                                 Notes. The warrants are subject to adjustment
                                 for anti-dilution purposes.

Registration Rights              Stockholders    will   have   the   following
                                 registration   rights  with  respect  to  the
                                 shares of common  stock  into which the Notes
                                 are convertible and warrants are exercisable.
                                 The Company  will  undertake to file with the
                                 SEC a  registration  statement  covering  the
                                 underlying  shares  of  common  stock  at the
                                 Company's  expense on or before  December 31,
                                 2005.  The Company  will use its best efforts
                                 to have the registration  statement  declared
                                 effective  within  60  days  of  filing.  The
                                 Unitholders  will be  subject to a lock-up of
                                 the  sale  of the  securities  until  90 days
                                 after the effective date of any  registration
                                 statement  filed on behalf of Cornell Capital
                                 Partners, L.P. as a selling stockholder.

Indemnification of               The  Company  will  indemnify  the  Placement
Placement Agent                  Agent  for  any  and  all   claims  by  other
                                 brokers,    dealers,     placement    agents,
                                 investment advisors or the like.

Qualified Investors              Accredited investors only.

Confidentiality                  The Company will not  disclose,  and will not
                                 include in any public announcement,  the name
                                 of the  investors  in this  offering,  unless
                                 expressly agreed to by the investor or unless
                                 such   disclosure   is  required  by  law  or
                                 applicable  regulation,  and then only to the
                                 extent of such requirement.

Governing Law                    New York law, New York courts.
and Jurisdiction

                                      A-2
<PAGE>

                                    EXHIBIT B

                           INDEMNIFICATION PROVISIONS

      Capitalized   terms   used   herein   that  are  not   defined   in  these
indemnification provisions  ("Indemnification  Provisions") have the meaning set
forth in the  engagement  letter  agreement  dated June 23, 2005,  between North
Coast Securities  Corporation ("Agent") and HealthRenu Medical,  Inc., as such a
agreement may be amended from time to time (the "Agreement").

      The Company  agrees to indemnify and hold harmless  Agent,  to the fullest
extent permitted by law, from and against any and all losses,  claims,  damages,
liabilities,  obligations,  penalties,  judgments,  awards,  costs, expenses and
disbursements (and any and all actions, suits, proceedings and investigations in
respect   thereof  and  any  and  all  legal  and  other  costs,   expenses  and
disbursements  in giving  testimony  or  furnishing  documents  in response to a
subpoena or otherwise),  including,  without limitation, the costs, expenses and
disbursements,  as and when incurred,  of investigating,  preparing or defending
any such action, suit, proceeding or investigation (whether or not in connection
with litigation in which Agent is a party),  directly or indirectly,  caused by,
relating to, based upon, arising out of or in connection with (a) Agent's acting
for the Company, including,  without limitation, any act or omission by Agent in
connection  with its acceptance of or the performance or  nonperformance  of its
obligations  under the  Agreement,  (b) any untrue  statement or alleged  untrue
statement of a material  fact  contained  in, or omissions or alleged  omissions
from any  information  furnished  to Agent by the  Company or (c) any  Offering;
provided,  however,  such indemnity  agreement shall not apply to any portion of
any such loss, claim, damage,  obligation,  penalty, judgment, award, liability,
cost, expense or disbursement to the extent it is found in a final judgment by a
court of competent jurisdiction (not subject to further appeal) to have resulted
primarily and directly from the gross negligence or willful misconduct of Agent.

      These  Indemnification  Provisions  shall be in addition to any  liability
which the Company may otherwise have to Agent or the persons  indemnified  below
in this  sentence  and  shall  extend  to the  following  Agent  its  affiliated
entities, directors,  officers, employees, legal counsel, agents and controlling
persons (within the meaning of the federal  securities  laws). All references to
Agent in these Indemnification Provisions shall be understood to include any and
all of the foregoing.

      If any action, suit, proceeding or investigation is commenced, as to which
Agent  proposes to demand  indemnification,  it shall  notify the  Company  with
reasonable  promptness;  provided,  however,  that the Company shall be relieved
from its  obligations  hereunder  to the extent a failure by Agent to notify the
Company with  reasonable  promptness  results in a  significant  increase in the
Company's obligations hereunder. Agent shall have the right to retain counsel of
its own choice to represent it, which counsel shall be reasonably  acceptable to
the Company,  and the Company shall pay the fees,  expenses and disbursements of
such  counsel;  and  such  counsel  shall,  to the  extent  consistent  with its
professional  responsibilities,  cooperate  with  the  Company  and any  counsel
designated by the Company. The Company shall be liable for any settlement of any
claim against Agent made with the Company's written consent, which consent shall
not be unreasonably  withheld.  The Company shall not, without the prior written
consent of Agent, settle or compromise any claim, or permit a default or consent
to the  entry of any  judgment  in  respect  thereof,  unless  such  settlement,
compromise or consent includes,  as an unconditional term thereof, the giving by
the  claimant to Agent of an  unconditional  and  irrevocable  release  from all
liability in respect of such claim.

                                      B-1
<PAGE>

      In order to provide for just and  equitable  contribution,  if a claim for
indemnification  pursuant to these Indemnification  Provisions is made but it is
found in a final judgment by a court of competent  jurisdiction  (not subject to
further appeal) that such indemnification may not be enforced in such case, even
though the express  provisions hereof provide for  indemnification in such case,
then  the  Company,  on the one  hand,  and  Agent,  on the  other  hand,  shall
contribute to the losses, claims, damages,  obligations,  penalties,  judgments,
awards, liabilities,  costs, expenses and disbursements to which the indemnified
persons may be subject in accordance with the relative  benefits received by the
Company,  on the one hand,  and Agent,  on the other hand, and also the relative
fault of the  Company,  on the one  hand,  and  Agent,  on the  other  hand,  in
connection with the statement,  acts or omissions which resulted in such losses,
claims, damages, obligations,  penalties, judgments, awards, liabilities, costs,
expenses or disbursements and the relevant equitable  considerations  shall also
be considered.  No person found liable for a fraudulent  misrepresentation shall
be entitled  to  contribution  from any person who is not also found  liable for
such fraudulent  misrepresentation.  Notwithstanding the foregoing,  Agent shall
not be obligated to contribute  any amount  hereunder that exceeds the amount of
fees previously received by Agent pursuant to the Agreement.

      Neither  termination nor completion of the engagement of Agent referred to
above shall  affect  these  Indemnification  Provisions  which shall then remain
operative and in full force and effect.

                                      B-2

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