Document:

EXHIBIT 10.34

                   ACQUISITION OF POLYMANN TECHNOLOGIES, INC.
                                      BY
                          HEALTH SCIENCES GROUP, INC.

                       AGREEMENT AND PLAN OF ACQUISITION

      THIS AGREEMENT AND PLAN OF ACQUISITION (Agreement) is entered into by and
between  Polymann  Technologies,  Inc.,  a  Florida  corporation,  (PTI),  UTEK
CORPORATION, a Delaware corporation, (UTEK), and Health Sciences Group, Inc., a
Colorado corporation, (HESG)

      WHEREAS,  UTEK  owns  100% of the issued and outstanding shares of common
stock of PTI (PTI Shares); and

      WHEREAS, before the Closing  Date,  PTI  will acquire the license for the
fields of use as described in the License Agreement  as described and which are
attached hereto as part of Exhibit A and made a part of this Agreement (License
Agreement)  and  the  rights to develop and market a patented  and  proprietary
technology  for  the  fields   of  uses  specified  in  the  License  Agreement
(Technology).

      WHEREAS, the parties desire  to provide for the terms and conditions upon
which PTI will be acquired by HESG in  a stock-for-stock exchange (Acquisition)
in  accordance  with  the respective corporation  laws  of  their  state,  upon
consummation of which all  PTI Shares will be owned by HESG, and all issued and
outstanding PTI Shares will  be  exchanged  for common stock of HESG with terms
and conditions as set forth more fully in this Agreement; and

      WHEREAS,  for  federal  income tax purposes,  it  is  intended  that  the
Acquisition qualifies within the  meaning  of  Section  368  (a)(1)(B)  of  the
Internal Revenue Code of 1986, as amended (Code).

      NOW,  THEREFORE,  in consideration of the premises and for other good and
valuable consideration, the  receipt,  adequacy and sufficiency of which are by
this Agreement acknowledged, the parties agree as follows:

                                   ARTICLE 1
                        THE STOCK-FOR-STOCK ACQUISITION

      1.01  The Acquisition

            (a)   Acquisition Agreement.   Subject  to the terms and conditions
of  this Agreement, at the Effective Date, as defined  below,  all  PTI  Shares
shall  be  acquired  from  UTEK  by  HESG  in  accordance  with  the respective
corporation  laws of their state and the provisions of this Agreement  and  the
separate corporate  existence  of  PTI,  as  a wholly-owned subsidiary of HESG,
shall continue after the closing.

            (b)   Effective  Date.  The  Acquisition   shall  become  effective
(Effective  Date)  upon  the  execution of this Agreement and  closing  of  the
transaction.

      1.02  Exchange  of Stock.  At  the  Effective  Date,  by  virtue  of  the
Acquisition, all of the  PTI  Shares  that  are  issued  and outstanding at the
Effective Date shall be exchanged for 1,160,000* unregistered  shares  (*  said
number  of  HESG  shares  to  be  adjusted  to a value of $810,000 based on the
closing  stock price the day before closing) of  common  stock  of  HESG  (HESG
Shares), which  by  agreement  of  the  shareholders  of PTI shall be issued as
follows:

  SHAREHOLDER        NUMBER OF HESG SHARES
  -----------        ---------------------
UTEK Corporation            1,160,000*

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      1.03  Effect of Acquisition.

            (a)   Rights  in PTI Cease. At and after the  Effective  Date,  the
holder of each certificate  of  common  stock  of  PTI  shall cease to have any
rights as a shareholder of PTI.

            (b)   Closure of PTI Shares Records. From and  after  the Effective
Date,  the stock transfer books of PTI shall be closed, and there shall  be  no
further registration of stock transfers on the records of PTI.

      1.04  Closing. Subject to the terms and conditions of this Agreement, the
Closing of the Acquisition shall take place October 25th , 2004.

                                    ARTICLE 2
                        REPRESENTATIONS AND WARRANTIES

      2.01  Representations  and  Warranties  of  UTEK  and  PTI.  UTEK and PTI
represent  and  warrant  to  HESG that the facts set forth below are  true  and
correct:

            (a)   Organization.  PTI  and UTEK are corporations duly organized,
validly existing and in good standing under the laws of their respective states
of incorporation, and they have the requisite  power  and  authority to conduct
their business and consummate the transactions contemplated  by this Agreement.
True, correct and complete copies of the articles of incorporation,  bylaws and
all corporate minutes of PTI have been provided to HESG and such documents  are
presently in effect and have not been amended or modified.

            (b)   Authorization.  The  execution  of  this  Agreement  and  the
consummation of the Acquisition and the other transactions contemplated by this
Agreement  have been duly authorized by the board of directors and shareholders
of PTI and the  board  of  directors  of UTEK; no other corporate action by the
respective parties is necessary in order  to  execute,  deliver, consummate and
perform  their  respective  obligations hereunder; and PTI and  UTEK  have  all
requisite corporate and other  authority  to execute and deliver this Agreement
and consummate the transactions contemplated by this Agreement.

            (c)   Capitalization.  The authorized  capital  of  PTI consists of
1,000,000 shares of common stock with a par value $1.00 per share.  At the date
of this Agreement, 1,000 PTI Shares are issued and outstanding as follows:

  SHAREHOLDER     NUMBER OF PTI SHARES
  -----------     --------------------
 UTEK CORPORATION         1000

All  issued  and  outstanding PTI Shares have been duly authorized and  validly
issued and are fully paid and non-assessable shares and have not been issued in
violation of any preemptive  or  other  rights  of  any  other  person  or  any
applicable  laws.  PTI  is  not  authorized  to  issue any preferred stock. All
dividends on PTI Shares which have been declared prior  to  the  date  of  this
Agreement  have  been paid in full. There are no outstanding options, warrants,
commitments, calls or other rights or agreements requiring PTI to issue any PTI
Shares or securities  convertible  into  PTI  Shares  to  anyone for any reason
whatsoever. None of the PTI Shares is subject to any change,  claim, condition,
interest,  lien,  pledge,  option,  security  interest or other encumbrance  or
restriction, including any restriction on use,  voting,  transfer,  receipt  of
income or exercise of any other attribute of ownership.

            (d)   Binding  Effect.  The  execution,  delivery,  performance and
consummation   of   this   Agreement,  the  Acquisition  and  the  transactions
contemplated by this Agreement  will not violate any obligation to which PTI or
UTEK is a party and will not create  a  default  under  any  such obligation or
under  any  agreement  to  which  PTI  or  UTEK  is  a  party.   This Agreement
constitutes  a  legal,  valid and binding obligation of each of UTEK  and  PTI,
enforceable  against  each   in  accordance  with  its  terms,  except  as  the
enforcement may be limited by  bankruptcy,  insolvency,  moratorium, or similar
laws  affecting  creditor's  rights  generally  and  by  the  availability   of
injunctive relief, specific performance or other equitable remedies.

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            (e)   Litigation  Relating  to  this Agreement. There are no suits,
actions or proceedings pending or, to the best  of  PTI  and  UTEK's knowledge,
information and belief, threatened, which seek to enjoin the Acquisition or the
transactions  contemplated  by  this Agreement or which, if adversely  decided,
would have a materially adverse effect  on the business, results of operations,
assets or prospects of PTI.

            (f)   No Conflicting Agreements. Neither the execution and delivery
of this Agreement nor the fulfillment of  or compliance by PTI or UTEK with the
terms or provisions of this Agreement nor all  other  documents  or  agreements
contemplated  by  this  Agreement  and  the  consummation  of  the  transaction
contemplated by this Agreement will result in a breach of the terms, conditions
or  provisions of, or constitute a default under, or result in a violation  of,
PTI or  UTEK's articles of incorporation or bylaws, the Technology, the License
Agreement, or any agreement, contract, instrument, order, judgment or decree to
which PTI or UTEK is a party or by which PTI or UTEK or any of their respective
assets is  bound,  or  violate  any  provision  of  any applicable law, rule or
regulation or any order, decree, writ or injunction of  any court or government
entity which materially affects their respective assets or businesses.

            (g)   Consents.  No  consent  from  or  approval  of   any   court,
governmental  entity  or  any  other  person  is  necessary  in connection with
execution and delivery of this Agreement by PTI and UTEK or performance  of the
obligations of PTI and UTEK hereunder or under any other agreement to which PTI
or  UTEK  is a party; and the consummation of the transactions contemplated  by
this Agreement  will  not require the approval of any entity or person in order
to prevent the termination  of  the  Technology,  the License Agreement, or any
other material right, privilege, license or agreement  relating  to  PTI or its
assets or business.

            (h)   Title  to  Assets.  PTI  has or has agreed to enter into  the
agreements as listed on Exhibit A attached hereto.  These  agreements  and  the
assets  shown on the balance sheet of attached Exhibit B are the sole assets of
PTI. PTI  has  or  will  by  Closing Date have good and marketable title to its
assets,  free and clear of all  liens,  claims,  charges,  mortgages,  options,
security agreements and other encumbrances of every kind or nature whatsoever.

            (i)   Intellectual Property

                  (1)   KBP  Co.,  Ltd., of Korea (KBP) owns the Technology and
has  all  right,  power,  authority and  ownership  and  entitlement  to  file,
prosecute  and maintain in effect  the  Patent  and  Patent  applications  with
respect to the Inventions listed in Exhibit A hereto.

                  (2)   The  License Agreement between KBP and PTI covering the
Inventions is legal, valid, binding  and will be enforceable in accordance with
its terms as contained in Exhibit A.

                  (3)        Except as  otherwise  set forth in this Agreement,
HESG acknowledges and understands that PTI and UTEK make no representations and
provide  no  assurances  that  the  rights to the Technology  and  Intellectual
Property contained in the License Agreement do not, and will not in the future,
infringe or otherwise violate the rights of third parties, and

                  (4)   Except  as  otherwise   expressly  set  forth  in  this
Agreement, PTI and UTEK make no representations and extend no warranties of any
kind, either express or implied, including, but not  limited  to  warranties of
merchantability,  fitness  for  a  particular  purpose,  non-infringement   and
validity of the Intellectual Property.

            (j)   Liabilities  of  PTI.  On  the date hereof and on the Closing
Date, PTI has no (and will not have any) assets,  no liabilities or obligations
of  any  kind, character or description except those  listed  on  the  attached
Financial Statements.

            (k)   Financial  Statements.  The unaudited financial statements of
PTI,  including  a  balance sheet dated as of  ___________  2004,  attached  as
Exhibit B and made a  part  of this Agreement (the "Financial Statements") have
been prepared from the books  and  records  of PTI consistently applied, are in
all respects, true, complete and correct and  present  fairly  PTI's  financial
position  and  the results of its operations on the dates and for  the  periods
shown in this Agreement.  Such  Financial  Statements  have  been  prepared  in
accordance  with  generally accepted accounting principles. PTI has not engaged
in any business not  reflected  in its financial statements. There have been no
material adverse changes in the nature of its business, prospects, the value of
assets or the financial condition  since  the date of its Financial Statements.
There are no, and on the

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Closing Date there will be no, outstanding  obligations  or  liabilities of PTI
except as specifically set forth in the Financial Statements.   (When  used  in
this  Agreement,  "liabilities"  shall  mean  debts,  liabilities, obligations,
duties and responsibilities of any kind and description  (whether  absolute  or
contingent,  monetary  or non-monetary, direct or indirect, known or unknown or
matured or unmatured, or  of  any other nature).  There is no information known
to PTI or UTEK that would prevent  the  financial  statements of PTI from being
audited  in  accordance  with  generally  accepted accounting  principles.  The
records and books of account of PTI reflect  all  transactions thereof and have
been regularly kept and maintained consistently applied.  None of the Financial
Statements, including the notes thereto, contains any untrue statement of fact,
or omits to state any fact necessary in order to make  the statements contained
in this paragraph or therein not misleading.

            (l)    Taxes. All returns, reports, statements  and  other  similar
filings  required  to be filed by PTI with respect to any federal, state, local
or foreign taxes, assessments,  interests,  penalties,  deficiencies,  fees and
other  governmental  charges  or  impositions  have  been timely filed with the
appropriate  governmental  agencies  in all jurisdictions  in  which  such  tax
returns and other related filings are  required  to  be  filed;  all  such  tax
returns  properly  reflect  all  liabilities  of PTI for taxes for the periods,
property or events covered by this Agreement; and  all  taxes,  whether  or not
reflected on those tax returns, and all taxes claimed to be due from PTI by any
taxing  authority,  have been properly paid, except to the extent reflected  on
PTI's  Financial  Statements,   where  PTI  has  contested  in  good  faith  by
appropriate proceedings and reserves  have  been  established  on its Financial
Statements to the full extent if the contest is adversely decided  against  it.
PTI  has  not  received  any  notice  of  assessment  or proposed assessment in
connection with any tax returns, nor is PTI a party to  or  to  the best of its
knowledge,  expected to become a party to any pending or threatened  action  or
proceeding, assessment  or  collection of taxes. PTI has not extended or waived
the application of any statute of limitations of any jurisdiction regarding the
assessment or collection of any  taxes.  There are no tax liens (other than any
lien  which  arises by operation of law for  current  taxes  not  yet  due  and
payable) on any  of its assets. There is no basis for any additional assessment
of taxes, interest  or  penalties. PTI has made all deposits required by law to
be made with respect to employees'  withholding  and  other  employment  taxes,
including  without  limitation  the  portion of such deposits relating to taxes
imposed upon PTI. PTI is not and has never  been  a  party  to  any tax sharing
agreements with any other person or entity.

            (m)   Absence of Certain Changes or Events. From the  date  of  the
full  execution  of  the  Term  Sheet  until the Closing Date, PTI has not, and
without the written consent of HESG, it will not have:

                  (1)   Sold, encumbered,  assigned  let  lapsed or transferred
any of its assets, including without limitation the Intellectual  Property, the
License Agreement or any other material asset;

                  (2)   Amended  or terminated the License Agreement  or  other
agreement or done any act or omitted to do any act which would cause the breach
of the License Agreement or any other agreement;

                  (3)   Suffered any damage, destruction or loss whether or not
in control of PTI;

                  (4)   Made  any  commitments   or   agreements   for  capital
expenditures or otherwise;

                  (5)   Entered into any transaction or made any commitment not
disclosed to HESG;

                  (6)   Incurred any obligation or liability for borrowed money
in the aggregate in excess of $500;

                  (7)   Suffered  any  other  event of any character, which  is
reasonable to expect, would adversely affect the future condition (financial or
otherwise) assets or liabilities or business of PTI; or

                  (8)   Taken any action that could  reasonably  be foreseen to
make any of the representations or warranties made by PTI or UTEK  untrue as of
the date of this Agreement or as of the Closing Date.

            (n)   Agreements.  Exhibit A attached contains a true and  complete
list of all contemplated and executed agreements between PTI and a third party.
A complete and accurate copies of  all  agreements,  contracts  and commitments
between PTI and any third party, whether written or oral to which it is a party
or is bound (Contracts), has been provided to HESG and such agreements  are  or
will  be at the Closing Date, in full force and effect without modifications or
amendment and constitute the legally valid and binding obligations of

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      PTI  and  such  each such third party in accordance with their respective
terms and will continue  to be valid and enforceable following the Acquisition.
Neither PTI nor any such third  party is in default of any of the Contracts. In
addition:

                  (1)   There  are  no  outstanding  unpaid  promissory  notes,
mortgages, indentures, deed of trust,  security agreements and other agreements
and instruments relating to the borrowing  of  money  by  or  any  extension of
credit to PTI; and

                  (2)   There  are  no outstanding operating agreements,  lease
agreements or similar agreements by which PTI is bound; and

                  (3)   The complete final drafts of the License Agreement have
has been provided to HESG; and

                  (4)   Except  as  set  forth  in  (3)  above,  there  are  no
outstanding licenses to or from others  of  any intellectual property and trade
names; and

                  (5)   There are no outstanding  agreements  or commitments to
sell, lease, license or otherwise dispose of any of PTI's property; and

                  (6)   There are no breaches of any agreement  to which PTI is
a party.

            (o)   Compliance   with  Laws.  PTI  is  in  compliance  with   all
applicable laws, rules, regulations  and  orders  promulgated  by  any federal,
state  or  local  government  body  or  agency  relating  to  its  business and
operations.

            (p)   Litigation.   There  is  no  suit, action or any arbitration,
administrative, legal or other proceeding of any  kind  or  character,  or  any
governmental  investigation  pending  or  to the best knowledge of PTI or UTEK,
threatened against PTI, the Technology, or  Patent License Agreement, affecting
its assets or business (financial or otherwise), and neither PTI nor UTEK is in
violation of or in default with respect to any judgment, order, decree or other
finding of any court or government authority  relating  to the assets, business
or  properties  of PTI or the transactions contemplated hereby.  There  are  no
pending or threatened  actions  or  proceedings before any court, arbitrator or
administrative agency, which would, if adversely determined, individually or in
the  aggregate,  adversely  affect  the  assets  or  business  of  PTI  or  the
transactions contemplated.

            (q)   Employees. PTI has no and never had any employees. PTI is not
a party to or bound by any employment agreement  or  any  collective bargaining
agreement with respect to any employees. PTI is not in violation  of  any  law,
regulation relating to employment of employees.

            (r)   Neither  PTI  nor UTEK has any knowledge of any or threatened
existing occurrence, action or development  that could cause a material adverse
effect on PTI or its business, assets or condition  (financial or otherwise) or
prospects.

            (s)   Employee Benefit Plans.  PTI states  that  there  are  no and
have  never  been  any  employee benefit plans, and there are no commitments to
create any, including without  limitation  as  such  term  is  defined  in  the
Employee  Retirement  Income  Security  Act of 1974, as amended, in effect, and
there are no outstanding or un-funded liabilities  nor  will  the  execution of
this  Agreement  and the actions contemplated in this Agreement result  in  any
obligation or liability to any present or former employee.

            (t)   Books  and Records. The books and records of PTI are complete
and  accurate  in  all material  respects,  fairly  present  its  business  and
operations, have been  maintained  in  accordance with good business practices,
and  applicable  legal requirements, and accurately  reflect  in  all  material
respects its business, financial condition and liabilities.

            (u)   No  Broker's  Fees.  Neither  UTEK  nor  PTI has incurred any
investment banking, advisory or other similar fees or obligations in connection
with this Agreement or the transactions contemplated by this Agreement.

            (v)   Full  Disclosure.    . All representations or  warranties  of
UTEK and PTI contained herein or in any  Schedule  or Exhibit are true, correct
and complete in all material respects to the best of our

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      knowledge on the date of this Agreement and shall  be  true,  correct and
complete  in all material respects as of the Closing Date as if they were  made
on such date.

      2.02  Representations  and  Warranties  of  HESG.   HESG  represents  and
warrants to UTEK and PTI that the facts set forth are true and correct.

            (a)   Organization.   HESG is a corporation duly organized, validly
existing and in good standing under  the  laws  of Colorado, is qualified to do
business as a foreign corporation in other jurisdictions  in  which the conduct
of its business or the ownership of its properties require such  qualification,
and have all requisite power and authority to conduct its business  and operate
properties.

            (b)   Authorization.   The  execution  of  this  Agreement and  the
consummation of the Acquisition and the other transactions contemplated by this
Agreement have been duly authorized by the board of directors of HESG; no other
corporate  action on their respective parts is necessary in order  to  execute,
deliver, consummate  and perform their obligations hereunder; and they have all
requisite corporate and  other  authority to execute and deliver this Agreement
and consummate the transactions contemplated by this Agreement.

            (c)   Capitalization.  The  authorized  capital of HESG consists of
50,000,000 (Fifty Million) shares of common stock with  a  par value $0.001 per
share  (HESG  Common  Shares)  and  on  the Effective Date of the  Acquisition,
14,741,773 (Fourteen Million, Seven Hundred  Forty  One Thousand, Seven Hundred
Seventy  Three)  HESG  Shares  (which will include the 1,160,000*  HESG  Shares
issued and to be adjusted at the closing of the Acquisition) will be issued and
outstanding.  All issued and outstanding HESG Shares have been duly and validly
issued and are fully paid and non-assessable shares and have not been issued in
violation  of  any preemptive or other  rights  of  any  other  person  or  any
applicable laws.

            (d)   Binding  Effect.  The  execution,  delivery,  performance and
consummation  of  the  Acquisition  and the transactions contemplated  by  this
Agreement will not violate any obligation to which HESG is a party and will not
create a default hereunder, and this  Agreement  constitutes a legal, valid and
binding obligation of HESG, enforceable in accordance with its terms, except as
the  enforcement  may  be  limited  by bankruptcy, insolvency,  moratorium,  or
similar laws affecting creditor's rights  generally  and by the availability of
injunctive relief, specific performance or other equitable remedies.

            (e)   Litigation Relating to this Agreement.  There  are  no suits,
actions  or  proceedings  pending or to its knowledge threatened which seek  to
enjoin the Acquisition or the  transactions  contemplated  by this Agreement or
which,  if  adversely decided, would have a materially adverse  effect  on  its
business, results  of  operations,  assets,  prospects  or  the  results of its
operations of HESG.

            (f)   No Conflicting Agreements. Neither the execution and delivery
of this Agreement nor the fulfillment of or compliance by HESG with  the  terms
or  provisions  of  this  Agreement  will  result  in  a  breach  of the terms,
conditions  or  provisions  of,  or  constitute default under, or result  in  a
violation of, their respective corporate  charters or bylaws, or any agreement,
contract, instrument, order, judgment or decree  to  which  it is a party or by
which  it  or  any  of  its assets are bound, or violate any provision  of  any
applicable law, rule or regulation  or any order, decree, writ or injunction of
any  court  or  governmental entity which  materially  affects  its  assets  or
business.

            (g)   Consents.   Assuming   the  correctness  of  UTEK  and  PTI's
representations, no consent from or approval  of any court, governmental entity
or any other person is necessary in connection  with its execution and delivery
of  this  Agreement; and the consummation of the transactions  contemplated  by
this Agreement  will  not require the approval of any entity or person in order
to  prevent the termination  of  any  material  right,  privilege,  license  or
agreement relating to HESG or its assets or business.

            (h)   Financial  Statements.  The unaudited financial statements of
HESG  attached  as  Exhibit C present fairly its  financial  position  and  the
results of its operations  on  the  dates  and  for  the  periods shown in this
Agreement; provided, however, that interim financial statements  are subject to
customary  year-end adjustments and accruals that, in the aggregate,  will  not
have a material adverse effect on the overall financial condition or results of
its operations.  HESG  has  not  engaged  in  any business not reflected in its
financial statements. There have been no material adverse changes in the nature
of  its business, prospects, the value of assets  or  the  financial  condition
since   the  date  of  its  financial  statements.  There  are  no  outstanding
obligations or liabilities of HESG except as specifically set forth in the HESG
financial statements.

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            (i)   Full  Disclosure.  All  representations or warranties of HESG
are true, correct and complete in all material  respects  on  the  date of this
Agreement  and shall be true, correct and complete in all material respects  as
of the Closing  Date  as  if  they were made on such date. No statement made by
them in this Agreement or in the  exhibits  to  this  Agreement or any document
delivered  by  them or on their behalf pursuant to this Agreement  contains  an
untrue statement  of  material  fact  or  omits  to  state  all  material facts
necessary  to  make  the  statements  in this Agreement not misleading  in  any
material respect in light of the circumstances in which they were made.

            (j)   Compliance  with  Laws.   HESG  is  in  compliance  with  all
applicable  laws, rules, regulations and orders  promulgated  by  any  federal,
state  or local  government  body  or  agency  relating  to  its  business  and
operations,  except  where  any  such  non-compliance would not have a material
adverse effect on HESG.

            (k)   Litigation.   There is  no  suit,  action or any arbitration,
administrative,  legal or other proceeding of any kind  or  character,  or  any
governmental  investigation   pending  or,  to  the  best  knowledge  of  HESG,
threatened against HESG materially  affecting its assets or business (financial
or otherwise), and HESG is not in violation  of  or  in default with respect to
any  judgment,  order,  decree  or  other  finding of any court  or  government
authority. There are no pending or threatened actions or proceedings before any
court,  arbitrator  or  administrative  agency,   which   would,  if  adversely
determined, individually or in the aggregate, materially and  adversely  affect
its assets or business.

      2.03  Investment Representations of UTEK. UTEK represents and warrants to
HESG that:

            (a)   General.  It  has  such knowledge and experience in financial
and business matters as to be capable  of evaluating the risks and merits of an
investment in HESG Shares pursuant to the  Acquisition.  It is able to bear the
economic risk of the investment in HESG Shares, including  the  risk of a total
loss  of the investment in HESG Shares. The acquisition of HESG Shares  is  for
its own  account  and is for investment and not with a view to the distribution
of this Agreement.  Except a permitted by law, it has a no present intention of
selling, transferring  or  otherwise disposing in any way of all or any portion
of the shares at the present time. All information that it has supplied to HESG
is true and correct. It has  conducted  all  investigations  and  due diligence
concerning  HESG  to  evaluate the risks inherent in accepting and holding  the
shares which it deems appropriate,  and  it  has  found  all  such  information
obtained  fully acceptable. It has had an opportunity to ask questions  of  the
officer and  directors  of  HESG  concerning  HESG  Shares and the business and
financial condition of and prospects for HESG, and the  officers  and directors
of  HESG  have  adequately  answered  all questions asked and made all relevant
information available to them. UTEK is  an Aaccredited investor, as the term is
defined in Regulation D, promulgated under  the  Securities  Act  of  1933,  as
amended, and the rules and regulations thereunder.

            (b)   Stock Transfer Restrictions.  UTEK acknowledges that the HESG
Shares  will  not  be  registered  and  UTEK  will  not be permitted to sell or
otherwise transfer the HESG Shares in any transaction  in  contravention of the
following legend, which will be imprinted in substantially the  following  form
on the stock certificate representing HESG Shares:

THE  SECURITIES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT  OF 1933, AS AMENDED (THE ACT), OR UNDER THE SECURITIES LAWS
OF ANY STATE. THESE SECURITIES  MAY  NOT  BE  SOLD, OFFERED FOR SALE, ASSIGNED,
TRANSFERRED  OR  OTHERWISE  DISPOSED  OF  UNLESS  REGISTERED  PURSUANT  TO  THE
PROVISION OF THE ACT AND THE LAWS OF SUCH STATES UNDER WHOSE LAWS A TRANSFER OF
SECURITIES  WOULD  BE  SUBJECT  TO  A  REGISTRATION  REQUIREMENT,  UNLESS  UTEK
CORPORATION HAS OBTAINED AN OPINION OF COUNSEL STATING THAT SUCH DISPOSITION IS
IN COMPLIANCE WITH AN AVAILABLE EXEMPTION FROM SUCH REGISTRATION.

                                   ARTICLE 3
                         TRANSACTIONS PRIOR TO CLOSING

      3.01. Corporate Approvals. Prior to Closing Date,  each  of  the  parties
shall  submit this Agreement to its board of directors and when necessary,  its
respective  shareholders  and  obtain  approval  of  this  Agreement. Copies of
corporate actions taken shall be provided to each party.

Page 7 of 14

<PAGE>
      3.02  Access to Information. Each party agrees to permit, upon reasonable
notice,  the  attorneys, accountants, and other representatives  of  the  other
parties reasonable  access  during  normal business hours to its properties and
its books and records to make reasonable  investigations  with  respect  to its
affairs,  and  to make its officers and employees available to answer questions
and provide additional information as reasonably requested.

      3.03  Expenses.  Each party agrees to bear its own expenses in connection
with the negotiation and  consummation  of the Acquisition and the transactions
contemplated by this Agreement.

      3.04  Covenants. Except as permitted  in  writing, each party agrees that
it will:

            (a)   Use its good faith efforts to obtain  all requisite licenses,
permits,  consents,  approvals  and  authorizations  necessary   in   order  to
consummate the Acquisition; and

            (b)   Notify  the  other  parties  upon the occurrence of any event
which  would  have  a materially adverse effect upon  the  Acquisition  or  the
transactions contemplated  by  this  Agreement  or upon the business, assets or
results of operations; and

            (c)   Not modify its corporate structure,  except  as  necessary or
advisable   in  order  to  consummate  the  Acquisition  and  the  transactions
contemplated by this Agreement.

                                  ARTICLE 4
                             CONDITIONS PRECEDENT

      The obligation  of  the  parties  to  consummate  the Acquisition and the
transactions  contemplated  by  this  Agreement  are subject to  the  following
conditions that may be waived, to the extent permitted by law:

      4.01. Each party must obtain the approval of  its  board of directors and
such approval shall not have been rescinded or restricted.

      4.02. Each party shall obtain all requisite licenses,  permits, consents,
authorizations  and  approvals  required  to complete the Acquisition  and  the
transactions contemplated by this Agreement.

      4.03. There shall be no claim or litigation  instituted  or threatened in
writing by any person or government authority seeking to restrain  or  prohibit
any  of  the  contemplated  transactions  contemplated  by  this  Agreement  or
challenge  the right, title and interest of UTEK in the PTI Shares or the right
of PTI or UTEK to consummate the Acquisition contemplated hereunder.

      4.04. The representations and warranties of the parties shall be true and
correct in all material respects at the Effective Date.

      4.05. The  Technology  and  Intellectual  Property has been prosecuted in
good faith with reasonable diligence.

      4.06. The License Agreement is valid and in full force and effect without
any default in this Agreement.

      4.07. HESG shall have received, at Closing Date, each of the following:

            (a)   the  stock certificates representing  the  PTI  Shares,  duly
endorsed  (or  accompanied   by  duly  executed  stock  powers)  by  UTEK   for
cancellation;

            (b)   all documentation  relating  to PTI's business, all in a form
and substance satisfactory to HESG;

            (c)   such  agreements,  files  and  other   data   and   documents
pertaining to PTI's  business as HESG may reasonably request;

            (d)   copies  of  the general ledgers and books of account of  PTI,
and all federal, state and local  income,  franchise,  property  and  other tax
returns filed by PTI since the inception of PTI;

Page 8 of 14

<PAGE>

            (e)   certificates  of  (i) the Secretary of State of the State  of
Florida as to the legal existence and  good standing, as applicable, (including
tax) of PTI in Florida;

            (f)   the original corporate  minute  books  of  PTI, including the
articles of incorporation and bylaws of PTI, and all other documents  filed  in
this Agreement;

            (g)   all  consents, assignments or related documents of conveyance
to give HESG the benefit of the transactions contemplated hereunder;

            (h)   such documents  as  may  be  needed to accomplish the Closing
under the corporate laws of the states of incorporation of HESG and PTI, and

            (i)   such other documents, instruments or certificates as HESG, or
their counsel may reasonably request.

      4.08. HESG shall have completed due diligence  investigation  of  PTI  to
HESG's satisfaction in their sole discretion.

      4.09. HESG  shall  receive  the resignation effective the Closing Date of
each director and officer of PTI.

                                   ARTICLE 5
                                  LIMITATIONS

      5.01.  Survival of Representations and Warranties.

            (a)     The representations  and  warranties  made  by UTEK and PTI
shall survive for a period of 1 year after the Closing Date, and thereafter all
such representation and warranties shall be extinguished, except  with  respect
to  claims  then  pending  for which specific notice has been given during such
1-year period.

            (b)     The representations  and  warranties  made  by  HESG  shall
survive  for a period of 1 year after the Closing Date, and thereafter all such
representations  and  warranties  shall be extinguished, except with respect to
claims then pending for which specific notice has been given during such 1-year
period.

      5.02     Limitations on Liability.   Notwithstanding any other provision
to this Agreement the contrary, neither party to this Agreement shall be liable
to the  other party for any cost, damage, expense, liability or loss under this
indemnification provision untilafter the sum of all amounts individually  when
added to all other such amounts in the aggregate exceeds $1,000 and then such
liability shall apply only to matters in excess of $1,000.

      5.03    Indemnification.  Each  party  agrees  to indemnify the  other
party hereto   (and   its   officers, directors, employees and shareholders)
against and hold them harmless from any and all losses, liabilities, costs,
damages (including lost profits), claims   and   expenses (including,  without
limitation, attorneys'    fees,    consultants',     accountants'     and
disbursements)  (collectively, "Damages"), as incurred, which they may sustain
at any time by  reason  of the breach or inaccuracy  of or failure to  comply
with  any  of   the warranties,  representations,  conditions,  covenants  or
agreements  of such  indemnifying  party  contained  in  this Agreement.

                                   ARTICLE 6
                                   REMEDIES

      6.01  Specific Performance. Each party's obligations under this Agreement
are  unique.  If  any  party should  default  in  its  obligations  under  this
agreement,  the  parties  each   acknowledge   that   it   would  be  extremely
impracticable to measure the resulting damages. Accordingly, the non-defaulting
party, in addition to any other available rights or remedies, may sue in equity
for specific performance, and the parties each expressly waive the defense that
a remedy in damages will be adequate.

      6.02  Costs. If any legal action or any arbitration or  other  proceeding
is  brought  for  the  enforcement  of  this agreement or because of an alleged
dispute, breach, default, or misrepresentation  in  connection  with any of the
provisions  of  this agreement, the successful or prevailing party  or  parties
shall be entitled to recover

Page 9 of 14

<PAGE>
      reasonable  attorneys'  fees  and  other costs incurred in that action or
proceeding,  in  addition to any other relief  to  which  it  or  they  may  be
entitled.

                                   ARTICLE 7
                                  ARBITRATION

      In the event  a  dispute  arises  with  respect  to the interpretation or
effect of this Agreement or concerning the rights or obligations of the parties
to this Agreement, the parties agree to negotiate in good faith with reasonable
diligence in an effort to resolve the dispute in a mutually  acceptable manner.
Failing to reach a resolution of this Agreement, either party  shall  have  the
right  to  submit the dispute to be settled by arbitration under the Commercial
Rules of Arbitration of the American Arbitration Association. The parties agree
that, unless  the parties mutually agree to the contrary such arbitration shall
be conducted in Los Angeles, CA.  The cost of arbitration shall be borne by the
party against whom the award is rendered or, if in the interest of fairness, as
allocated in accordance  with  the  judgment  of the arbitrators. All awards in
arbitration made in good faith and not infected  with fraud or other misconduct
shall be final and binding.  The arbitrators shall  be selected as follows: one
by  HESG, one by UTEK and a third by the two selected  arbitrators.  The  third
arbitrator shall be the chairman of the panel.

                                   ARTICLE 8
                                 MISCELLANEOUS

      8.01. No party may assign this Agreement or any right or obligation of it
hereunder  without  the  prior  written  consent  of  the other parties to this
Agreement.  No permitted assignment shall relieve a party  of  its  obligations
under this Agreement without the separate written consent of the other parties.

      8.02. This  Agreement  shall  be binding upon and inure to the benefit of
the parties and their respective permitted successors and assigns.

      8.03. Each party agrees that it  will  comply  with  all applicable laws,
rules and regulations in the execution and performance of its obligations under
this Agreement.

      8.04. This Agreement shall be governed, interpreted and  construed by and
in  accordance  with  the  laws  of  the State of California without regard  to
principles of conflicts of law.

      8.05. This document constitutes a complete and entire agreement among the
parties with reference to the subject  matters  set forth in this Agreement. No
statement or agreement, oral or written, made prior  to  or at the execution of
this Agreement and no prior course of dealing or practice by either party shall
vary or modify the terms set forth in this Agreement without  the prior consent
of the other parties to this Agreement. This Agreement may be amended only by a
written document signed by the parties.

      8.06. Notices or other communications required to be made  in  connection
with  this  Agreement  shall  be  sent  by U.S. mail, certified, return receipt
requested,  personally  delivered  or  sent by  express  delivery  service  and
delivered to the parties at the addresses  set  forth  below  or  at such other
address  as  may be changed from time to time by giving written notice  to  the
other parties.

      8.07. The  invalidity  or  unenforceability  of  any  provision  of  this
Agreement  shall  not  affect  the  validity  or  enforceability  of  any other
provision of this Agreement.

      8.08. This  Agreement  may be executed in multiple counterparts, each  of
which shall constitute one and a single Agreement.

             8.09       Any facsimile signature of any part to this Agreement
or to any other agreement or document executed in connection of this Agreement
should constitute a legal, valid and binding execution by such parties.

                      (SIGNATURES ON THE FOLLOWING PAGE)

Page 10 of 14

<PAGE>

HEALTH SCIENCES GROUP, INC.             POLYMANN TECHNOLOGIES, INC.

By:___________________________      By:____________________________
     Fred E. Tannous,                  Joel Edelson
     CEO                               President

     Address:                          Address:
     Howard Hughes Center              202 South Wheeler Street
      6080 Center Drive, 6th Floor     Plant City, Florida 33563
      Los Angeles, CA 90045

  Date: _________________________   Date: _________________________

UTEK CORPORATION

By:___________________________
     Clifford M. Gross, Ph.D.
     Chief Executive Officer

      Address:
      202 South Wheeler Street
      Plant City, Florida 33563

Date: _________________________

Page 11 of 14

<PAGE>
                                   EXHIBIT A

                              OUTSTANDING AGREEMENTS

                          LICENSE AGREEMENT FROM KBP CO., LTD.

Page 12 of 14

<PAGE>

                                   EXHIBIT B

                         POLYMANN TECHNOLOGIES, INC.

                          FINANCIAL STATEMENTS AS OF

Page 13 of 14

<PAGE>
                                   EXHIBIT C

                               HESG CORPORATION

                              CURRENT FORM 10-QSB
                  FOR THE FISCAL QUARTER ENDING JUNE 30, 2003
                        INCLUDING FINANCIAL STATEMENTS

Page 14 of 14EXHIBIT 10.35

                 ACQUISITION OF APPLE PEEL TECHNOLOGIES, INC.
                                      BY
                          HEALTH SCIENCES GROUP, INC.

                       AGREEMENT AND PLAN OF ACQUISITION

      THIS AGREEMENT AND PLAN OF ACQUISITION (Agreement) is entered into by and
between  Apple  Peel  Technologies,  Inc.,  a Florida corporation, (APTI), UTEK
CORPORATION, a Delaware corporation, (UTEK), and Health Sciences Group, Inc., a
Colorado corporation, (HESG)

      WHEREAS, UTEK owns 100% of the issued and  outstanding  shares  of common
stock of APTI (APTI Shares); and

      WHEREAS, before the Closing Date, APTI will acquire the exclusive license
for  the  fields  of use as described in the License Agreement and a consulting
contract as described  and  which  are attached hereto as part of Exhibit A and
made a part of this Agreement (License  Agreement and Consulting Agreement) and
the rights to develop and market a patented  and proprietary technology for the
fields of uses specified in the License Agreement (Technology).

      WHEREAS, the parties desire to provide for  the terms and conditions upon
which APTI will be acquired by HESG in a stock-for-stock exchange (Acquisition)
in  accordance  with  the  respective corporation laws  of  their  state,  upon
consummation of which all APTI Shares will be owned by HESG, and all issued and
outstanding APTI Shares will  be  exchanged for common stock of HESG with terms
and conditions as set forth more fully in this Agreement; and

      WHEREAS,  for  federal income tax  purposes,  it  is  intended  that  the
Acquisition qualifies  within  the  meaning  of  Section  368  (a)(1)(B) of the
Internal Revenue Code of 1986, as amended (Code).

      NOW, THEREFORE, in consideration of the premises and for other  good  and
valuable  consideration,  the receipt, adequacy and sufficiency of which are by
this Agreement acknowledged, the parties agree as follows:

                                   ARTICLE 1
                        THE STOCK-FOR-STOCK ACQUISITION

      1.01  The Acquisition

            (a)   Acquisition  Agreement.   Subject to the terms and conditions
of this Agreement, at the Effective Date, as  defined  below,  all  APTI Shares
shall  be  acquired  from  UTEK  by  HESG  in  accordance  with  the respective
corporation  laws of their state and the provisions of this Agreement  and  the
separate corporate  existence  of  APTI,  as a wholly-owned subsidiary of HESG,
shall continue after the closing.

            (b)   Effective  Date.  The  Acquisition   shall  become  effective
(Effective  Date)  upon  the  execution of this Agreement and  closing  of  the
transaction.

      1.02  Exchange  of Stock.  At  the  Effective  Date,  by  virtue  of  the
Acquisition, all of the  APTI  Shares  that  are  issued and outstanding at the
Effective  Date  shall  be exchanged for 1,200,000*  unregistered
shares  (*  said  number  of   HESG  shares  to  be  adjusted  to  a  value  of
$828,000 based on the closing stock price the day

Page 1 of 18

<PAGE>
      before closing) of common stock of HESG (HESG Shares), which by agreement
of the shareholders of APTI shall be issued as follows:

SHAREHOLDER        NUMBER OF HESG SHARES
-----------        ---------------------
UTEK Corporation            1,200,000*

      1.03  Effect of Acquisition.

            (a)   Rights in APTI  Cease.  At  and after the Effective Date, the
holder of each certificate of common stock of APTI  shall  cease  to  have  any
rights as a shareholder of APTI.

            (b)   Closure  of APTI Shares Records. From and after the Effective
Date, the stock transfer books  of  APTI shall be closed, and there shall be no
further registration of stock transfers on the records of APTI.

      1.04  Closing. Subject to the terms and conditions of this Agreement, the
Closing of the Acquisition shall take place November 22nd, 2004.

                                    ARTICLE 2
                        REPRESENTATIONS AND WARRANTIES

      2.01  Representations and Warranties  of  UTEK  and  APTI.  UTEK and APTI
represent  and  warrant  to HESG that the facts set forth below  are  true  and
correct:

            (a)   Organization.  APTI and UTEK are corporations duly organized,
validly existing and in good standing under the laws of their respective states
of incorporation, and they have the  requisite  power  and authority to conduct
their business and consummate the transactions contemplated  by this Agreement.
True, correct and complete copies of the articles of incorporation,  bylaws and
all corporate minutes of APTI have been provided to HESG and such documents are
presently in effect and have not been amended or modified.

Page 2 of 18

<PAGE>
            (b)   Authorization.  The  execution  of  this  Agreement  and  the
consummation of the Acquisition and the other transactions contemplated by this
Agreement  have been duly authorized by the board of directors and shareholders
of APTI and  the  board  of directors of UTEK; no other corporate action by the
respective parties is necessary  in  order  to execute, deliver, consummate and
perform their respective obligations hereunder;  and  APTI  and  UTEK  have all
requisite  corporate  and other authority to execute and deliver this Agreement
and consummate the transactions contemplated by this Agreement.

            (c)   Capitalization.   The  authorized capital of APTI consists of
1,000,000 shares of common stock with a par  value $1.00 per share. At the date
of this Agreement, 1,000 APTI Shares are issued and outstanding as follows:

SHAREHOLDER        NUMBER OF APTI SHARES
-----------        ---------------------
UTEK CORPORATION                1000

All issued and outstanding APTI Shares have been  duly  authorized  and validly
issued and are fully paid and

Page 3 of 18

<PAGE>
non-assessable  shares  and have not been issued in violation of any preemptive
or other rights of any other  person  or  any  applicable  laws.  APTI  is  not
authorized  to  issue  any  preferred stock. All dividends on APTI Shares which
have been declared prior to the  date of this Agreement have been paid in full.
There are no outstanding options,  warrants, commitments, calls or other rights
or agreements requiring APTI to issue any APTI Shares or securities convertible
into APTI Shares to anyone for any reason  whatsoever.  None of the APTI Shares
is  subject  to any change, claim, condition, interest, lien,  pledge,  option,
security  interest   or   other   encumbrance  or  restriction,  including  any
restriction on use, voting, transfer,  receipt  of  income  or  exercise of any
other attribute of ownership.

            (d)   Binding  Effect.  The  execution,  delivery, performance  and
consummation   of   this  Agreement,  the  Acquisition  and  the   transactions
contemplated by this Agreement will not violate any obligation to which APTI or
UTEK is a party and will  not  create  a  default  under any such obligation or
under  any  agreement  to  which  APTI  or  UTEK  is a party.   This  Agreement
constitutes a legal, valid and binding obligation of  each  of  UTEK  and APTI,
enforceable   against  each  in  accordance  with  its  terms,  except  as  the
enforcement may  be  limited  by bankruptcy, insolvency, moratorium, or similar
laws  affecting  creditor's  rights   generally  and  by  the  availability  of
injunctive relief, specific performance or other equitable remedies.

            (e)   Litigation Relating to  this  Agreement.  There are no suits,
actions  or  proceedings pending or, to the best of APTI and UTEK's  knowledge,
information and belief, threatened, which seek to enjoin the Acquisition or the
transactions contemplated  by  this  Agreement  or which, if adversely decided,
would have a materially adverse effect on the business,  results of operations,
assets or prospects of APTI.

            (f)   No Conflicting Agreements. Neither the execution and delivery
of this Agreement nor the fulfillment of or compliance by APTI or UTEK with the
terms  or  provisions of this Agreement nor all other documents  or  agreements
contemplated  by  this  Agreement  and  the  consummation  of  the  transaction
contemplated by this Agreement will result in a breach of the terms, conditions
or  provisions of, or constitute a default under, or result in a violation  of,
APTI or UTEK's articles of incorporation or bylaws, the Technology, the License
Agreement, or any agreement, contract, instrument, order, judgment or decree to
which  APTI  or  UTEK  is  a  party  or  by  which APTI or UTEK or any of their
respective assets is bound, or violate any provision  of  any  applicable  law,
rule  or  regulation  or  any order, decree, writ or injunction of any court or
government  entity  which  materially   affects   their  respective  assets  or
businesses.

Page 4 of 18

<PAGE>

            (g)   Consents.  No  consent  from  or  approval   of   any  court,
governmental  entity  or  any  other  person  is  necessary  in connection with
execution and delivery of this Agreement by APTI and UTEK or performance of the
obligations  of APTI and UTEK hereunder or under any other agreement  to  which
APTI or UTEK is  a party; and the consummation of the transactions contemplated
by this Agreement  will  not  require  the  approval of any entity or person in
order to prevent the termination of the Technology,  the  License Agreement, or
any other material right, privilege, license or agreement relating  to  APTI or
its assets or business.

            (h)   Title  to  Assets.  APTI  has or has agreed to enter into the
agreements as listed on Exhibit A attached hereto.  These  agreements  and  the
assets  shown on the balance sheet of attached Exhibit B are the sole assets of
APTI. APTI  has  or  will by Closing Date have good and marketable title to its
assets, free and clear  of  all  liens,  claims,  charges,  mortgages, options,
security agreements and other encumbrances of every kind or nature whatsoever.

            (i)    Intellectual Property

                  (1)   Cornell  University (CORNELL) owns the  Technology  and
has  all  right,  power,  authority and  ownership  and  entitlement  to  file,
prosecute  and maintain in effect  the  Patent  and  Patent  applications  with
respect to the Inventions listed in Exhibit A hereto.

Page 5 of 18

<PAGE>
                  (2)   The License Agreement between CORNELL and APTI covering
the Inventions  is  legal, valid, binding and will be enforceable in accordance
with its terms as contained in Exhibit A.

                  (3)         Except  as otherwise set forth in this Agreement,
HESG acknowledges and understands that  APTI  and  UTEK make no representations
and  provide no assurances that the rights to the Technology  and  Intellectual
Property contained in the License Agreement do not, and will not in the future,
infringe or otherwise violate the rights of third parties, and

                  (4)   Except   as  otherwise  expressly  set  forth  in  this
Agreement, APTI and UTEK make no representations  and  extend  no warranties of
any kind, either express or implied, including, but not limited  to  warranties
of  merchantability,  fitness  for  a particular purpose, non-infringement  and
validity of the Intellectual Property.

            (j)   Liabilities of APTI.  On  the  date hereof and on the Closing
Date, APTI has no (and will not have any) assets, no liabilities or obligations
of  any  kind, character or description except those  listed  on  the  attached
Financial Statements.

            (k)   Financial  Statements.  The unaudited financial statements of
APTI, including a balance sheet dated as of  November  22nd,  2004, attached as
Exhibit  B and made a part of this Agreement (the "Financial Statements")  have
been prepared  from  the books and records of APTI consistently applied, are in
all respects, true, complete  and  correct  and present fairly APTI's financial
position and the results of its operations on  the  dates  and  for the periods
shown  in  this  Agreement.  Such  Financial  Statements have been prepared  in
accordance with generally accepted accounting principles.  APTI has not engaged
in any business not reflected in its financial statements. There  have  been no
material adverse changes in the nature of its business, prospects, the value of
assets  or  the financial condition since the date of its Financial Statements.
There are no, and on the Closing Date there will be no, outstanding obligations
or liabilities  of  APTI  except  as  specifically  set  forth in the Financial
Statements.   (When  used  in this Agreement, "liabilities" shall  mean  debts,
liabilities,  obligations,  duties   and   responsibilities  of  any  kind  and
description (whether absolute or contingent,  monetary  or non-monetary, direct
or indirect, known or unknown or matured or unmatured, or of any other nature).
There is no information known to APTI or UTEK that would  prevent the financial
statements  of  APTI  from being audited in accordance with generally  accepted
accounting principles.  The  records  and  books of account of APTI reflect all
transactions thereof and have been regularly  kept  and maintained consistently
applied.   None  of  the  Financial Statements, including  the  notes  thereto,
contains any untrue statement  of fact, or omits to state any fact necessary in
order  to  make the statements contained  in  this  paragraph  or  therein  not
misleading.

            (l)     Taxes.  All  returns, reports, statements and other similar
filings required to be filed by APTI  with respect to any federal, state, local
or foreign taxes, assessments, interests,  penalties,  deficiencies,  fees  and
other  governmental  charges  or  impositions  have  been timely filed with the
appropriate  governmental  agencies  in all jurisdictions  in  which  such  tax
returns and other related filings are  required  to  be  filed;  all  such  tax
returns  properly  reflect  all  liabilities of APTI for taxes for the periods,
property or events covered by this  Agreement;  and  all  taxes, whether or not
reflected on those tax returns, and all taxes claimed to be  due  from  APTI by
any  taxing  authority, have been properly paid, except to the extent reflected
on APTI's Financial  Statements,  where  APTI  has  contested  in good faith by
appropriate  proceedings  and  reserves have been established on its  Financial
Statements to the full extent if  the  contest is adversely decided against it.
APTI  has  not  received any notice of assessment  or  proposed  assessment  in
connection with any  tax  returns, nor is APTI a party to or to the best of its
knowledge, expected to become  a  party  to any pending or threatened action or
proceeding, assessment or collection of taxes.  APTI has not extended or waived
the application of any statute of limitations of any jurisdiction regarding the
assessment or collection of any taxes. There are  no  tax liens (other than any
lien  which  arises  by  operation of law for current taxes  not  yet  due  and
payable) on any of its assets.  There is no basis for any additional assessment
of taxes, interest or penalties.  APTI has made all deposits required by law to
be made with respect to employees'  withholding  and  other  employment  taxes,
including

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<PAGE>
without limitation the portion of such deposits relating to taxes imposed  upon
APTI. APTI is not and has never been a party to any tax sharing agreements with
any other person or entity.

            (m)   Absence  of  Certain  Changes or Events. From the date of the
full execution of the Term Sheet until the  Closing  Date,  APTI  has  not, and
without the written consent of HESG, it will not have:

                  (1)   Sold,  encumbered,  assigned  let lapsed or transferred
any of its assets, including without limitation the Intellectual  Property, the
License Agreement or any other material asset;

                  (2)   Amended  or terminated the License Agreement  or  other
agreement or done any act or omitted to do any act which would cause the breach
of the License Agreement or any other agreement;

                  (3)   Suffered any damage, destruction or loss whether or not
in control of APTI;

                  (4)   Made  any  commitments   or   agreements   for  capital
expenditures or otherwise;

                  (5)   Entered into any transaction or made any commitment not
disclosed to HESG;

                  (6)   Incurred any obligation or liability for borrowed money
in the aggregate in excess of $500;

                  (7)   Suffered any other event of any character, which is
                                    reasonable to expect, would adversely
                                    affect the future condition (financial or
                                    otherwise) assets or liabilities or
                                    business of APTI; or

                  (8)   Taken any action that could reasonably be foreseen to
                                    make any of the representations or
                                    warranties made by APTI or UTEK untrue as
                                    of the date of this Agreement or as of the
                                    Closing Date.

            (n)   Agreements.  Exhibit A attached contains a true and  complete
list of all contemplated and executed  agreements  between  APTI  and  a  third
party.  A  complete  and  accurate  copies  of  all  agreements,  contracts and
commitments between APTI and any third party, whether written or oral  to which
it  is  a  party  or  is  bound (Contracts), has been provided to HESG and such
agreements are or will be at the Closing Date, in full force and effect without
modifications  or amendment  and  constitute  the  legally  valid  and  binding
obligations of APTI  and  such  each  such third party in accordance with their
respective terms and will continue to be  valid  and  enforceable following the
Acquisition. Neither APTI nor any such third party is in  default of any of the
Contracts. In addition:

                  (1)   There  are  no  outstanding  unpaid  promissory  notes,
mortgages, indentures, deed of trust, security agreements and  other agreements
and  instruments  relating  to  the  borrowing of money by or any extension  of
credit to APTI; and

                  (2)   There are no outstanding  operating  agreements,  lease
agreements or similar agreements by which APTI is bound; and

                  (3)   The complete final drafts of the License Agreement have
has been provided to HESG; and

                  (4)   Except  as  set  forth  in  (3)  above,  there  are  no
outstanding  licenses  to or from others of any intellectual property and trade
names; and

Page 7 of 18

<PAGE>

                  (5)   There  are  no outstanding agreements or commitments to
sell, lease, license or otherwise dispose of any of APTI's property; and

                  (6)   There are no breaches of any agreement to which APTI is
a party.

            (o)   Compliance  with  Laws.   APTI  is  in  compliance  with  all
applicable  laws, rules, regulations and orders  promulgated  by  any  federal,
state  or local  government  body  or  agency  relating  to  its  business  and
operations.

            (p)   Litigation.   There  is  no  suit, action or any arbitration,
administrative, legal or other proceeding of any  kind  or  character,  or  any
governmental  investigation  pending  or to the best knowledge of APTI or UTEK,
threatened against APTI, the Technology, or Patent License Agreement, affecting
its assets or business (financial or otherwise),  and  neither APTI nor UTEK is
in violation of or in default with respect to any judgment,  order,  decree  or
other  finding  of  any  court  or government authority relating to the assets,
business or properties of APTI or  the  transactions contemplated hereby. There
are  no  pending  or  threatened  actions  or  proceedings  before  any  court,
arbitrator  or  administrative agency, which would,  if  adversely  determined,
individually or in  the  aggregate,  adversely affect the assets or business of
APTI or the transactions contemplated.

            (q)   Employees. APTI has  no  and never had any employees. APTI is
not  a  party  to  or  bound  by  any employment agreement  or  any  collective
bargaining agreement with respect to any employees. APTI is not in violation of
any law, regulation relating to employment of employees.

            (r)   Neither APTI nor  UTEK has any knowledge of any or threatened
existing occurrence, action or development  that could cause a material adverse
effect on APTI or its business, assets or condition (financial or otherwise) or
prospects.

            (s)   Employee Benefit Plans.  APTI  states  that  there are no and
have  never  been  any employee benefit plans, and there are no commitments  to
create any, including  without  limitation  as  such  term  is  defined  in the
Employee  Retirement  Income  Security  Act of 1974, as amended, in effect, and
there are no outstanding or un-funded liabilities  nor  will  the  execution of
this  Agreement  and the actions contemplated in this Agreement result  in  any
obligation or liability to any present or former employee.

            (t)   Books and Records. The books and records of APTI are complete
and  accurate  in all  material  respects,  fairly  present  its  business  and
operations, have  been  maintained  in accordance with good business practices,
and  applicable legal requirements, and  accurately  reflect  in  all  material
respects its business, financial condition and liabilities.

            (u)   No  Broker's  Fees.  Neither  UTEK  nor APTI has incurred any
investment banking, advisory or other similar fees or obligations in connection
with this Agreement or the transactions contemplated by this Agreement.

            (v)   Full Disclosure.  APTI. All representations  or warranties of
UTEK and APTI contained herein or in any Schedule or Exhibit are  true, correct
and complete in all material respects to the best of our knowledge  on the date
of  this  Agreement  and  shall  be  true, correct and complete in all material
respects as of the Closing Date as if they were made on such date.

      2.02  Representations  and  Warranties  of  HESG.   HESG  represents  and
warrants to UTEK and APTI that the facts set forth are true and correct.

Page 8 of 18

<PAGE>
            (a)   Organization.  HESG  is a corporation duly organized, validly
existing and in good standing under the  laws  of  Colorado, is qualified to do
business as a foreign corporation in other jurisdictions  in  which the conduct
of its business or the ownership of its properties require such  qualification,
and have all requisite power and authority to conduct its business  and operate
properties.

            (b)   Authorization.   The  execution  of  this  Agreement and  the
consummation of the Acquisition and the other transactions contemplated by this
Agreement have been duly authorized by the board of directors of HESG; no other
corporate  action on their respective parts is necessary in order  to  execute,
deliver, consummate  and perform their obligations hereunder; and they have all
requisite corporate and  other  authority to execute and deliver this Agreement
and consummate the transactions contemplated by this Agreement.

            (c)   Capitalization.  The  authorized  capital of HESG consists of
50,000,000 (Fifty Million) shares of common stock with  a  par value $0.001 per
share  (HESG  Common  Shares)  and  on  the Effective Date of the  Acquisition,
17,496,200 (Seventeen Million, Four Hundred  Ninety  Six Thousand, Two Hundred)
HESG Shares (which will include the 1,200,000* HESG Shares  issued  and  to  be
adjusted at the closing of the Acquisition) will be issued and outstanding. All
issued  and  outstanding  HESG Shares have been duly and validly issued and are
fully paid and non-assessable  shares  and have not been issued in violation of
any preemptive or other rights of any other person or any applicable laws.

            (d)   Binding  Effect.  The execution,  delivery,  performance  and
consummation  of  the Acquisition and the  transactions  contemplated  by  this
Agreement will not violate any obligation to which HESG is a party and will not
create a default hereunder,  and  this Agreement constitutes a legal, valid and
binding obligation of HESG, enforceable in accordance with its terms, except as
the  enforcement  may  be  limited by bankruptcy,  insolvency,  moratorium,  or
similar laws affecting creditor's  rights  generally and by the availability of
injunctive relief, specific performance or other equitable remedies.

            (e)   Litigation Relating to this  Agreement.  There  are no suits,
actions  or  proceedings pending or to its knowledge threatened which  seek  to
enjoin the Acquisition  or  the  transactions contemplated by this Agreement or
which, if adversely decided, would  have  a  materially  adverse  effect on its
business,  results  of  operations,  assets,  prospects  or the results of  its
operations of HESG.

            (f)   No Conflicting Agreements. Neither the execution and delivery
of this Agreement nor the fulfillment of or compliance by  HESG  with the terms
or  provisions  of  this  Agreement  will  result  in  a  breach  of the terms,
conditions  or  provisions  of,  or  constitute default under, or result  in  a
violation of, their respective corporate  charters or bylaws, or any agreement,
contract, instrument, order, judgment or decree  to  which  it is a party or by
which  it  or  any  of  its assets are bound, or violate any provision  of  any
applicable law, rule or regulation  or any order, decree, writ or injunction of
any  court  or  governmental entity which  materially  affects  its  assets  or
business.

            (g)   Consents.   Assuming  the  correctness  of  UTEK  and  APTI's
representations, no consent from  or approval of any court, governmental entity
or any other person is necessary in  connection with its execution and delivery
of this Agreement; and the consummation  of  the  transactions  contemplated by
this Agreement will not require the approval of any entity or person  in  order
to  prevent  the  termination  of  any  material  right,  privilege, license or
agreement relating to HESG or its assets or business.

            (h)   Financial Statements. The unaudited financial  statements  of
HESG  attached  as  Exhibit  C  present  fairly  its financial position and the
results  of  its  operations on the dates and for the  periods  shown  in  this
Agreement; provided,  however, that interim financial statements are subject to
customary year-end adjustments  and  accruals  that, in the aggregate, will not
have a material adverse effect on the overall financial condition or results of
its  operations.  HESG has not engaged in any business  not  reflected  in  its
financial statements. There have been no material adverse changes in the nature
of its business, prospects, the value of

Page 9 of 18

<PAGE>
      assets or the  financial  condition  since  the  date  of  its  financial
statements. There are no outstanding obligations or liabilities of HESG  except
as specifically set forth in the HESG financial statements.

            (i)   Full  Disclosure.  All  representations or warranties of HESG
are true, correct and complete in all material  respects  on  the  date of this
Agreement  and shall be true, correct and complete in all material respects  as
of the Closing  Date  as  if  they were made on such date. No statement made by
them in this Agreement or in the  exhibits  to  this  Agreement or any document
delivered  by  them or on their behalf pursuant to this Agreement  contains  an
untrue statement  of  material  fact  or  omits  to  state  all  material facts
necessary  to  make  the  statements  in this Agreement not misleading  in  any
material respect in light of the circumstances in which they were made.

            (j)   Compliance  with  Laws.   HESG  is  in  compliance  with  all
applicable  laws, rules, regulations and orders  promulgated  by  any  federal,
state  or local  government  body  or  agency  relating  to  its  business  and
operations,  except  where  any  such  non-compliance would not have a material
adverse effect on HESG.

            (k)   Litigation.   There is  no  suit,  action or any arbitration,
administrative,  legal or other proceeding of any kind  or  character,  or  any
governmental  investigation   pending  or,  to  the  best  knowledge  of  HESG,
threatened against HESG materially  affecting its assets or business (financial
or otherwise), and HESG is not in violation  of  or  in default with respect to
any  judgment,  order,  decree  or  other  finding of any court  or  government
authority. There are no pending or threatened actions or proceedings before any
court,  arbitrator  or  administrative  agency,   which   would,  if  adversely
determined, individually or in the aggregate, materially and  adversely  affect
its assets or business.

      2.03  Investment Representations of UTEK. UTEK represents and warrants to
HESG that:

            (a)   General.  It  has  such knowledge and experience in financial
and business matters as to be capable  of evaluating the risks and merits of an
investment in HESG Shares pursuant to the  Acquisition.  It is able to bear the
economic risk of the investment in HESG Shares, including  the  risk of a total
loss  of the investment in HESG Shares. The acquisition of HESG Shares  is  for
its own  account  and is for investment and not with a view to the distribution
of this Agreement.  Except a permitted by law, it has a no present intention of
selling, transferring  or  otherwise disposing in any way of all or any portion
of the shares at the present time. All information that it has supplied to HESG
is true and correct. It has  conducted  all  investigations  and  due diligence
concerning  HESG  to  evaluate the risks inherent in accepting and holding  the
shares which it deems appropriate,  and  it  has  found  all  such  information
obtained  fully acceptable. It has had an opportunity to ask questions  of  the
officer and  directors  of  HESG  concerning  HESG  Shares and the business and
financial condition of and prospects for HESG, and the  officers  and directors
of  HESG  have  adequately  answered  all questions asked and made all relevant
information available to them. UTEK is  an Aaccredited investor, as the term is
defined in Regulation D, promulgated under  the  Securities  Act  of  1933,  as
amended, and the rules and regulations thereunder.

            (b)   Stock Transfer Restrictions.  UTEK acknowledges that the HESG
Shares  will  not  be  registered  and  UTEK  will  not be permitted to sell or
otherwise transfer the HESG Shares in any transaction  in  contravention of the
following legend, which will be imprinted in substantially the  following  form
on the stock certificate representing HESG Shares:

THE  SECURITIES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT  OF 1933, AS AMENDED (THE ACT), OR UNDER THE SECURITIES LAWS
OF ANY STATE. THESE SECURITIES  MAY  NOT  BE  SOLD, OFFERED FOR SALE, ASSIGNED,
TRANSFERRED  OR  OTHERWISE  DISPOSED  OF  UNLESS  REGISTERED  PURSUANT  TO  THE
PROVISION OF THE ACT AND THE LAWS OF SUCH STATES UNDER WHOSE LAWS A TRANSFER OF
SECURITIES  WOULD  BE  SUBJECT  TO  A  REGISTRATION  REQUIREMENT,  UNLESS  UTEK
CORPORATION HAS OBTAINED AN

Page 10 of 18

<PAGE>
OPINION  OF  COUNSEL  STATING THAT SUCH DISPOSITION IS IN  COMPLIANCE  WITH  AN
AVAILABLE EXEMPTION FROM SUCH REGISTRATION.

                                   ARTICLE 3
                         TRANSACTIONS PRIOR TO CLOSING

      3.01. Corporate Approvals.  Prior  to  Closing  Date, each of the parties
shall submit this Agreement to its board of directors and  when  necessary, its
respective  shareholders  and  obtain  approval  of  this Agreement. Copies  of
corporate actions taken shall be provided to each party.

      3.02  Access to Information. Each party agrees to permit, upon reasonable
notice,  the  attorneys, accountants, and other representatives  of  the  other
parties reasonable  access  during  normal business hours to its properties and
its books and records to make reasonable  investigations  with  respect  to its
affairs,  and  to make its officers and employees available to answer questions
and provide additional information as reasonably requested.

      3.03  Expenses.  Each party agrees to bear its own expenses in connection
with the negotiation and  consummation  of the Acquisition and the transactions
contemplated by this Agreement.

      3.04  Covenants. Except as permitted  in  writing, each party agrees that
it will:

            (a)   Use its good faith efforts to obtain  all requisite licenses,
permits,  consents,  approvals  and  authorizations  necessary   in   order  to
consummate the Acquisition; and

            (b)   Notify  the  other  parties  upon the occurrence of any event
which  would  have  a materially adverse effect upon  the  Acquisition  or  the
transactions contemplated  by  this  Agreement  or upon the business, assets or
results of operations; and

            (c)   Not modify its corporate structure,  except  as  necessary or
advisable   in  order  to  consummate  the  Acquisition  and  the  transactions
contemplated by this Agreement.

                                  ARTICLE 4
                             CONDITIONS PRECEDENT

      The obligation  of  the  parties  to  consummate  the Acquisition and the
transactions  contemplated  by  this  Agreement  are subject to  the  following
conditions that may be waived, to the extent permitted by law:

      4.01. Each party must obtain the approval of  its  board of directors and
such approval shall not have been rescinded or restricted.

      4.02. Each party shall obtain all requisite licenses,  permits, consents,
authorizations  and  approvals  required  to complete the Acquisition  and  the
transactions contemplated by this Agreement.

      4.03. There shall be no claim or litigation  instituted  or threatened in
writing by any person or government authority seeking to restrain  or  prohibit
any  of  the  contemplated  transactions  contemplated  by  this  Agreement  or
challenge the right, title and interest of UTEK in the APTI Shares or the right
of APTI or UTEK to consummate the Acquisition contemplated hereunder.

      4.04. The representations and warranties of the parties shall be true and
correct in all material respects at the Effective Date.

Page 11 of 18

<PAGE>
      4.05. The  Technology  and  Intellectual  Property has been prosecuted in
good faith with reasonable diligence.

      4.06. The License Agreement and the Consulting Agreement are valid and in
full force and effect without any default in this Agreement.

      4.07. HESG shall have received, at Closing Date, each of the following:

            (a)   the stock certificates representing  the  APTI  Shares,  duly
endorsed   (or  accompanied  by  duly  executed  stock  powers)  by  UTEK   for
cancellation;

            (b)   all  documentation relating to APTI's business, all in a form
and substance satisfactory to HESG;

            (c)   such  agreements,   files   and   other  data  and  documents
pertaining to APTI's  business as HESG may reasonably request;

            (d)   copies of the general ledgers and books  of  account of APTI,
and  all  federal,  state and local income, franchise, property and  other  tax
returns filed by APTI since the inception of APTI;

            (e)   certificates  of  (i)  the Secretary of State of the State of
Florida as to the legal existence and good  standing, as applicable, (including
tax) of APTI in Florida;

            (f)   the original corporate minute  books  of  APTI, including the
articles of incorporation and bylaws of APTI, and all other documents  filed in
this Agreement;

            (g)   all  consents, assignments or related documents of conveyance
to give HESG the benefit of the transactions contemplated hereunder;

            (h)   such documents  as  may  be  needed to accomplish the Closing
under the corporate laws of the states of incorporation of HESG and APTI, and

            (i)   such other documents, instruments or certificates as HESG, or
their counsel may reasonably request.

      4.08. HESG shall have completed due diligence  investigation  of  APTI to
HESG's satisfaction in their sole discretion.

      4.09. HESG  shall  receive the resignation effective the Closing Date  of
each director and officer of APTI.

                                   ARTICLE 5
                                  LIMITATIONS

      5.01.  Survival of Representations and Warranties.

            (a)  The representations and warranties made by UTEK and APTI shall
survive for a period of 1  year after the Closing Date, and thereafter all such
representation and warranties  shall  be  extinguished,  except with respect to
claims then pending for which specific notice has been given during such 1-year
period.

            (b)  The representations and warranties made by  HESG shall survive
for a period of 1 year

Page 12 of 18

<PAGE>
            after the Closing Date, and thereafter all such representations and
warranties  shall be extinguished, except with respect to claims  then  pending
for which specific notice has been given during such 1-year period. Limitations
on Liability.  Notwithstanding  any  other  provision  to  this  Agreement  the
contrary,  neither  party  to this Agreement shall be liable to the other party
for any cost, damage, expense,  liability  or  loss  under this indemnification
provision until after the sum of all amounts individually  when  added  to  all
other  such  amounts  in  the  aggregate exceeds $1,000 and then such liability
shall apply only to matters in excess of $1,000.

      5.02   Indemnification.  Each party agrees to indemnify  the  other party
hereto  (and  its officers, directors, employees and shareholders) against  and
hold them harmless  from  any  and  all  losses,  liabilities,  costs,  damages
(including  lost  profits), claims and expenses (including, without limitation,
attorneys' fees, consultants',  accountants'  and disbursements) (collectively,
"Damages"), as incurred, which they may sustain  at  any  time by reason of the
breach  or  inaccuracy  of  or  failure  to comply with any of the  warranties,
representations, conditions, covenants or agreements of such indemnifying party
contained in this Agreement.

                                   ARTICLE 6
                                   REMEDIES

      6.01  Specific Performance. Each party's obligations under this Agreement
are  unique.  If  any  party  should  default in  its  obligations  under  this
agreement,  the  parties  each  acknowledge   that   it   would   be  extremely
impracticable to measure the resulting damages. Accordingly, the non-defaulting
party, in addition to any other available rights or remedies, may sue in equity
for specific performance, and the parties each expressly waive the defense that
a remedy in damages will be adequate.

      6.02  Costs.  If any legal action or any arbitration or other  proceeding
is brought for the enforcement  of  this  agreement  or  because  of an alleged
dispute,  breach, default, or misrepresentation in connection with any  of  the
provisions  of  this  agreement,  the successful or prevailing party or parties
shall  be  entitled  to recover reasonable  attorneys'  fees  and  other  costs
incurred in that action or proceeding, in addition to any other relief to which
it or they may be entitled.

                                   ARTICLE 7
                                  ARBITRATION

      In the event a dispute  arises  with  respect  to  the  interpretation or
effect of this Agreement or concerning the rights or obligations of the parties
to this Agreement, the parties agree to negotiate in good faith with reasonable
diligence in an effort to resolve the dispute in a mutually acceptable  manner.
Failing  to  reach a resolution of this Agreement, either party shall have  the
right to submit  the  dispute to be settled by arbitration under the Commercial
Rules of Arbitration of the American Arbitration Association. The parties agree
that, unless the parties  mutually agree to the contrary such arbitration shall
be conducted in Los Angeles, CA.  The cost of arbitration shall be borne by the
party against whom the award is rendered or, if in the interest of fairness, as
allocated in accordance with  the  judgment  of  the arbitrators. All awards in
arbitration made in good faith and not infected with  fraud or other misconduct
shall be final and binding.  The arbitrators shall be selected  as follows: one
by  HESG,  one by UTEK and a third by the two selected arbitrators.  The  third
arbitrator shall be the chairman of the panel.

                                   ARTICLE 8
                                 MISCELLANEOUS

      8.01. No party may assign this Agreement or any right or obligation of it
hereunder without  the  prior  written  consent  of  the  other parties to this
Agreement.  No  permitted assignment shall relieve a party of  its  obligations
under this Agreement without the separate written consent of the other parties.

Page 13 of 18

<PAGE>
      8.02. This  Agreement  shall  be binding upon and inure to the benefit of
the parties and their respective permitted successors and assigns.

      8.03. Each party agrees that it  will  comply  with  all applicable laws,
rules and regulations in the execution and performance of its obligations under
this Agreement.

      8.04. This Agreement shall be governed interpreted and  construed  by and
in  accordance  with  the  laws  of  the  State of California without regard to
principles of conflicts of law.

      8.05. This document constitutes a complete and entire agreement among the
parties with reference to the subject matters  set  forth in this Agreement. No
statement or agreement, oral or written, made prior to  or  at the execution of
this Agreement and no prior course of dealing or practice by either party shall
vary or modify the terms set forth in this Agreement without  the prior consent
of the other parties to this Agreement. This Agreement may be amended only by a
written document signed by the parties.

      8.06. Notices or other communications required to be made  in  connection
with  this  Agreement  shall  be  sent  by U.S. mail, certified, return receipt
requested,  personally  delivered  or  sent by  express  delivery  service  and
delivered to the parties at the addresses  set  forth  below  or  at such other
address  as  may be changed from time to time by giving written notice  to  the
other parties.

      8.07. The  invalidity  or  unenforceability  of  any  provision  of  this
Agreement  shall  not  affect  the  validity  or  enforceability  of  any other
provision of this Agreement.

      8.08. This  Agreement  may be executed in multiple counterparts, each  of
which shall constitute one and a single Agreement.

             8.09       Any facsimile signature of any part to this Agreement
or to any other agreement or document executed in connection of this Agreement
should constitute a legal, valid and binding execution by such parties.

                      (SIGNATURES ON THE FOLLOWING PAGE)

Page 14 of 18

<PAGE>

HEALTH SCIENCES GROUP, INC.             APPLE PEEL TECHNOLOGIES, INC.

By:___________________________      By:____________________________
     Fred E. Tannous,                  Joel Edelson
     CEO                               President

     Address:                          Address:
     Howard Hughes Center              202 South Wheeler Street
      6080 Center Drive, 6th Floor     Plant City, Florida 33563
      Los Angeles, CA 90045

  Date: _________________________   Date: _________________________
UTEK CORPORATION

By:___________________________
     Clifford M. Gross, Ph.D.
     Chief Executive Officer

      Address:
      202 South Wheeler Street
      Plant City, Florida 33563

Date: _________________________

Page 15 of 18

<PAGE>
                                   EXHIBIT A

                                   OUTSTANDING AGREEMENTS

                       LICENSE AGREEMENT FROM CORNELL UNIVERSITY

                          CONSULTING AGREEMENT WITH DR. RUI HAI LUI.

Page 16 of 18

<PAGE>

                                   EXHIBIT B

                        APPLE PEEL TECHNOLOGIES, INC.

                FINANCIAL STATEMENTS AS OF NOVEMBER 22ND, 2004

Page 17 of 18

<PAGE>
                                   EXHIBIT C

                               HESG CORPORATION

                              CURRENT FORM 10-QSB
               FOR THE FISCAL QUARTER ENDING SEPTEMBER 30, 2004
                        INCLUDING FINANCIAL STATEMENTS

Page 18 of 18

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