Exhibit 4.4
THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT") OR APPLICABLE STATE SECURITIES LAWS, AND ARE "RESTRICTED SECURITIES"
AS THAT TERM IS DEFINED IN RULE 144 UNDER THE ACT. THE SECURITIES MAY NOT BE
OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, OR
PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREFROM, THE AVAILABILITY OF WHICH
IS TO BE ESTABLISHED TO THE SATISFACTION OF MOLECULAR DIAGNOSTICS, INC.
Warrant No. JL1
WARRANT TO PURCHASE SHARES OF COMMON STOCK
ISSUE DATE: September 15, 2004
This certifies that ▇▇▇▇▇ ▇▇▇▇, Ph.D. or any valid transferee thereof (the
"Holder"), for value received, is entitled to purchase from Molecular
Diagnostics, Inc., a Delaware corporation with its principal business office
located at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ (the
"Company"), subject to the terms and conditions set forth below, at any time or
from time to time on and after the Vesting Date (as defined below) set forth
above and before 3:00 p.m. (Central Time) on the fifth anniversary of the
Vesting Date (the "Expiration Date"), 25,000 shares of Common Stock, $.001 par
value per share, of the Company ("Common Stock"), at a purchase price of $0.20
per share. The shares purchasable upon exercise of this Warrant, and the
purchase price per share, each as adjusted from time to time pursuant to the
provisions of this Warrant, are hereinafter referred to as the "Warrant Shares"
and the "Purchase Price," respectively. As consideration for this Warrant, the
Holder named above agrees to forgive all outstanding indebtedness of the Company
to such named Holder. The Holder expressly agrees and acknowledges that this
Warrant shall not vest, and shall not be exercisable, in whole or in part, until
such time as the stockholders of the Company approve an increase in the number
of authorized shares of Common Stock of the Company and an amendment to the
Company's Certificate of Incorporation is filed with the Secretary of State of
the State of Delaware to effect such increase (such date, the "Vesting Date").
1. Exercise.
(a) Exercise for Cash. The Holder may, at the Holder's option, elect
to exercise this Warrant, in whole or in part and at any time or from time to
time on or after the Vesting Date but prior to 3:00 p.m. (Central Time) on the
Expiration Date, by surrendering this Warrant, with the purchase form appended
hereto as Exhibit I duly executed by or on behalf of the Holder, at the
principal office of the Company, or at such other office or agency as the
Company may designate, accompanied by payment in full, in lawful money of the
United States, of the Purchase Price payable in respect of the number of Warrant
Shares purchased upon such exercise. In no event shall any such exercise be for
fewer than 10,000 Warrant Shares unless fewer than an aggregate of 10,000
Warrant Shares are then purchasable under all outstanding Warrants held by the
Holder. Payment of the aggregate Purchase Price may be made in cash, certified
or bank check, or wire transfer of immediately available funds.
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(b) Cashless Exercise.
(i) The Holder may, at the Holder's option, elect to exercise
this Warrant, in whole or in part and at any time or from time to time on or
after the Vesting Date but prior to 3:00 p.m. (Central Time) on the Expiration
Date, on a cashless basis, by surrendering this Warrant, with the purchase form
appended hereto as Exhibit I duly executed by or on behalf of the Holder, at the
principal office of the Company, or at such other office or agency as the
Company may designate, by canceling a portion of this Warrant in payment of the
Purchase Price payable in respect of the number of Warrant Shares purchased upon
such exercise. In the event of an exercise pursuant to this subsection 1(b), the
number of Warrant Shares issued to the Holder shall be determined according to
the following formula:
X = Y(A-B)
A
Where: X = the number of Warrant Shares that shall be issued to
the Holder;
Y = the number of Warrant Shares for which this Warrant is
being exercised (which shall include both the number of
Warrant Shares issued to the Holder and the number of
Warrant Shares subject to the portion of the Warrant
being cancelled in payment of the Purchase Price);
A = the Fair Market Value (as defined below) of one share
of Common Stock; and
B = the Purchase Price then in effect.
(ii) The Fair Market Value per share of Common Stock shall be determined as
follows:
(1) If the Common Stock is listed on a national securities
exchange, the Nasdaq National Market or the Nasdaq SmallCap Market, or another
nationally recognized trading system as of the Exercise Date (as defined in (c)
below), the Fair Market Value per share of Common Stock shall be deemed to be
the average of the highest and lowest reported sale prices per share of Common
Stock thereon on the trading day immediately preceding the Exercise Date ;
provided that if no such price is reported on such day, the Fair Market Value
per share of Common Stock shall be determined pursuant to clause (3).
(2) If the Common Stock is not listed on a national
securities exchange, the Nasdaq National Market or the Nasdaq SmallCap Market,
or another nationally recognized trading system as of the Exercise Date, but is
quoted on the Over-The-Counter Bulletin Board, the Fair Market Value per share
of Common Stock shall be deemed to be the average of the highest bid and lowest
asked prices quoted thereon on the trading day immediately preceding the
Exercise Date; provided that if no price is reported on such day, the Fair
Market Value per share of Common Stock shall be determined pursuant to clause
(3).
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(3) If the Common Stock is not listed on a national
securities exchange, the Nasdaq National Market, the Nasdaq SmallCap Market or
another nationally recognized trading system or the Over-the-Counter Electronic
Bulletin Board as of the Exercise Date, the Fair Market Value per share of
Common Stock shall be deemed to be the amount most recently determined by the
Board of Directors of the Company (the "Board") to represent the fair market
value per share of the Common Stock (including without limitation a
determination for purposes of granting Common Stock options or issuing Common
Stock under any plan, agreement or arrangement with employees of the Company);
and, upon request of the Holder, the Board (or a representative thereof) shall,
as promptly as reasonably practicable but in any event not later than 10
business days after such request, notify the Holder of the Fair Market Value per
share of Common Stock. Notwithstanding the foregoing, if the Board has not made
such a determination within the three-month period prior to the Exercise Date,
then (A) the Board shall make, and shall provide or cause to be provided to the
Holder notice of, a determination of the Fair Market Value per share of the
Common Stock within 15 business days of a request by the Holder that it do so,
and (B) the exercise of this Warrant pursuant to this subsection 1(b) shall be
delayed until such determination is made and notice thereof is provided to the
Holder.
(c) Exercise Date and Status as Holder of Shares. Each exercise
of this Warrant shall be deemed to have been effected immediately prior to the
close of business on the day on which this Warrant shall have been surrendered
to the Company as provided in subsection 1(a) or 1(b) above (the "Exercise
Date"), which Exercise Date(s) shall not be prior to the Vesting Date. At such
time, the person or persons in whose name or names any certificates for Warrant
Shares shall be issuable upon such exercise as provided in subsection 1(d) below
shall be deemed to have become the holder or holders of record of the Warrant
Shares represented by such certificates.
(d) Issuance of Certificates. As soon as practicable after the
exercise of this Warrant in whole or in part, and in any event within 10
business days thereafter, the Company, at its expense, will cause to be issued
in the name of, and delivered to, the Holder, or as the Holder (upon payment by
the Holder of any applicable transfer taxes) may direct:
(i) a certificate or certificates for the number of full
Warrant Shares to which the Holder shall be entitled upon such exercise plus, in
lieu of any fractional share to which the Holder would otherwise be entitled,
cash in an amount determined pursuant to Section 3 hereof; and
(ii) in case such exercise is in part only, a new warrant or
warrants (dated the date hereof) of like tenor, calling in the aggregate on the
face or faces thereof for the number of Warrant Shares equal (without giving
effect to any adjustment therein) to the number of such shares called for on the
face of this Warrant minus the number of Warrant Shares for which this Warrant
was so exercised (which, in the case of an exercise pursuant to subsection 1(b),
shall include both the number of Warrant Shares issued to the Holder pursuant to
such partial exercise and the number of Warrant Shares subject to the portion of
the Warrant being cancelled in payment of the Purchase Price).
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(e) Warrant Shares. The Warrant Shares issued upon any such
exercise of this Warrant shall be validly issued, fully paid and non-assessable.
2. Adjustments.
(a) Adjustment for Stock Splits and Combinations. If the Company shall
at any time or from time to time after the Issue Date as set forth on the first
page hereof (or, if this Warrant was issued upon partial exercise of, or in
replacement of, another warrant of like tenor, then the date on which such
original warrant was first issued) (either such date being referred to as the
"Original Issue Date") effect a subdivision of the outstanding Common Stock, the
Purchase Price then in effect immediately before that subdivision shall be
proportionately decreased. If the Company shall at any time or from time to time
after the Original Issue Date combine the outstanding shares of Common Stock,
the Purchase Price then in effect immediately before the combination shall be
proportionately increased. Any adjustment under this paragraph shall become
effective at the close of business on the date the subdivision or combination
becomes effective.
(b) Adjustment for Certain Dividends and Distributions. In the event
the Company at any time or from time to time after the Original Issue Date shall
make or issue, or fix a record date for the determination of holders of Common
Stock entitled to receive, a dividend or other distribution payable in
additional shares of Common Stock, then and in each such event the Purchase
Price then in effect immediately before such event shall be decreased as of the
time of such issuance or, in the event such a record date shall have been fixed,
as of the close of business on such record date, by multiplying the Purchase
Price then in effect by a fraction:
(1) the numerator of which shall be the total number of shares of
Common Stock issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date, and
(2) the denominator of which shall be the total number of shares
of Common Stock issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date plus the number of shares
of Common Stock issuable in payment of such dividend or distribution;
provided, however, that if such record date shall have been fixed and such
dividend is not fully paid or if such distribution is not fully made on the date
fixed therefor, the Purchase Price shall be recomputed accordingly as of the
close of business on such record date and thereafter the Purchase Price shall be
adjusted pursuant to this paragraph as of the time of actual payment of such
dividends or distributions.
(c) Adjustment in Number of Warrant Shares. When any adjustment is
required to be made in the Purchase Price pursuant to subsections 2(a) or 2(b),
the number of Warrant Shares purchasable upon the exercise of this Warrant shall
be changed to the number determined by dividing (i) an amount equal to the
number of shares issuable upon the exercise of this Warrant immediately prior to
such adjustment, multiplied by the Purchase Price in effect immediately prior to
such adjustment, by (ii) the Purchase Price in effect immediately after such
adjustment.
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(d) Adjustments for Other Dividends and Distributions. In the event
the Company at any time or from time to time after the Original Issue Date shall
make or issue, or fix a record date for the determination of holders of Common
Stock entitled to receive, a dividend or other distribution payable in
securities of the Company (other than shares of Common Stock) or in cash or
other property (other than regular cash dividends paid out of earnings or earned
surplus, determined in accordance with generally accepted accounting
principles), then and in each such event provision shall be made so that the
Holder shall receive upon exercise hereof, in addition to the number of shares
of Common Stock issuable hereunder, the kind and amount of securities of the
Company, cash or other property which the Holder would have been entitled to
receive had this Warrant been exercised on the date of such event and had the
Holder thereafter, during the period from the date of such event to and
including the Exercise Date, retained any such securities receivable during such
period, giving application to all adjustments called for during such period
under this Section 2 with respect to the rights of the Holder.
(e) Adjustment for Reorganization. If there shall occur any
reorganization, recapitalization, reclassification, consolidation or merger
involving the Company in which the Common Stock is converted into or exchanged
for securities, cash or other property (other than a transaction covered by
subsections 2(a), 2(b) or 2(d)) (collectively, a "Reorganization"), then,
following such Reorganization, the Holder shall receive upon exercise hereof the
kind and amount of securities, cash or other property which the Holder would
have been entitled to receive pursuant to such Reorganization if such exercise
had taken place immediately prior to such Reorganization. In any such case,
appropriate adjustment (as determined in good faith by the Board) shall be made
in the application of the provisions set forth herein with respect to the rights
and interests thereafter of the Holder, to the end that the provisions set forth
in this Section 2 (including provisions with respect to changes in and other
adjustments of the Purchase Price) shall thereafter be applicable, as nearly as
reasonably may be, in relation to any securities, cash or other property
thereafter deliverable upon the exercise of this Warrant.
(f) Certificate as to Adjustments. Upon the occurrence of each
adjustment or readjustment of the Purchase Price pursuant to this Section 2, the
Company at its expense shall, as promptly as reasonably practicable but in any
event not later than 10 business days thereafter, compute such adjustment or
readjustment in accordance with the terms hereof and furnish to the Holder a
certificate setting forth such adjustment or readjustment (including the kind
and amount of securities, cash or other property for which this Warrant shall be
exercisable and the Purchase Price) and the facts upon which such adjustment or
readjustment is based. The Company shall, as promptly as reasonably practicable
after the written request at any time of the Holder (but in any event not later
than 10 business days thereafter), furnish or cause to be furnished to the
Holder a certificate setting forth (i) the Purchase Price then in effect and
(ii) the number of shares of Common Stock and the amount, if any, of other
securities, cash or property which then would be received upon the exercise of
this Warrant.
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(g) No Adjustments in Certain Cases. No adjustment in the number of
Warrant Shares purchasable pursuant to this Warrant shall be required unless the
adjustment would require an increase or decrease of at least one percent (1.0%)
in the number of Warrant Shares then purchasable upon the exercise of this
Warrant. Except as provided in this Section 2, no other adjustments in the
number, kind or price of shares constituting Warrant Shares shall be made during
the term, or upon the exercise, of this Warrant. Further, no adjustments shall
be made pursuant to this Section 2 hereof in connection with the grant or
exercise of presently authorized or outstanding options to purchase, or the
issuance of shares of Common Stock under, the Company's director or employee
benefit or option plans.
(h) Treasury Stock. For purposes of this Section 2, shares of Common
Stock owned or held at any relevant time by, or for the account of, the Company,
in its treasury or otherwise, shall not be deemed to be outstanding for purposes
of the calculations and adjustments herein described.
3. Fractional Shares. The Company shall not be required upon the exercise
of this Warrant to issue any fractional shares, but shall pay in cash to the
Holder an amount equal to such fraction multiplied by the Fair Market Value per
share of Common Stock, as determined pursuant to subsection 1(b) above.
4. Investment Representations. The initial Holder represents and warrants
to the Company as follows:
(a) Investment. The Holder is acquiring this Warrant, and (if and when
such Holder exercises this Warrant) will acquire the Warrant Shares, for such
Holder's own account for investment and not with a view to, or for sale in
connection with, any distribution thereof, nor with any present intention of
distributing or selling the same; and the Holder has no present or contemplated
agreement, undertaking, arrangement, obligation, indebtedness or commitment
providing for the disposition thereof.
(b) Accredited Investor. The Holder is an "accredited investor" as
defined in Rule 501(a) under the Act.
(c) Experience. The Holder has made such inquiry concerning the
Company and its business and personnel as the Holder has deemed appropriate; and
the Holder has sufficient knowledge and experience in finance and business that
the Holder is capable of evaluating the risks and merits of an investment in the
Company.
5. Transfers, etc.
(a) This Warrant and the Warrant Shares shall not be sold or
transferred unless either (i) they first shall have been registered under the
Act and any applicable state securities laws, or (ii) the Company first shall
have been furnished with an opinion of legal counsel, satisfactory to the
Company, to the effect that such sale or transfer is exempt from the
registration requirements of the Act and any applicable state securities laws.
(b) Each certificate representing Warrant Shares shall bear a legend
substantially in the following form:
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"The securities represented by this certificate have not been
registered under the Securities Act of 1933, as amended, or
any state securities laws, and may not be offered, sold or
otherwise transferred, pledged or hypothecated unless and
until such securities are registered under such act and
applicable state securities laws or an opinion of counsel
satisfactory to the Company is obtained to the effect that
such registration is not required."
The foregoing legend shall be removed from the certificates representing
any Warrant Shares, at the request of the holder thereof, at such time as they
become eligible for resale pursuant to Rule 144(k) under the Act.
(c) The Company will maintain a register containing the name and
address of the Holder of this Warrant. The Holder may change the Holder's
address as shown on the warrant register by written notice to the Company
requesting such change.
(d) Subject to the provisions of clauses (a) and (b) of this Section
5, this Warrant and all rights hereunder are transferable, in whole or in part,
upon surrender of this Warrant with a properly executed assignment (in the form
of Exhibit II hereto) at the principal office of the Company (or, if another
office or agency has been designated by the Company for such purpose, then at
such other office or agency). Upon the presentation and surrender of such items
to the Company, the Company shall execute and deliver to the transferee or
transferees of this Warrant a new Warrant or Warrants, in the name of the
transferee or transferees named in the assignment, and this Warrant shall at
that time be canceled to the extent transferred.
6. No Impairment; Adjustment of Par Value.
(a) The Company will not, by amendment of its charter or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the
taking of all such action as may be necessary or appropriate in order to protect
the rights of the Holder against impairment.
(b) Before taking any action that would cause an adjustment reducing
the Purchase Price per share below the then par value of the shares of Warrant
Shares issuable upon exercise of the Warrant, the Company will take any
corporate action that may be necessary in order that the Company may validly and
legally issue fully paid and non-assessable shares of such Warrant Shares at
such adjusted price.
7. Record Date, etc. In the event:
(a) the Company shall take a record of the holders of its Common Stock
(or other stock or securities at the time deliverable upon the exercise of this
Warrant) for the purpose of entitling or enabling them to receive any dividend
or other distribution, or to receive any right to subscribe for or purchase any
shares of stock of any class or any other securities, or to receive any other
right; or
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(b) of any capital reorganization of the Company, any reclassification
of the Common Stock of the Company, any consolidation or merger of the Company
with or into another corporation (other than a consolidation or merger in which
the Company is the surviving entity and its Common Stock is not converted into
or exchanged for any other securities or property), or any transfer of all or
substantially all of the assets of the Company; or
(c) of the voluntary or involuntary dissolution, liquidation or
winding-up of the Company,
then, and in each such case, the Company will send or cause to be sent to the
Holder a notice specifying, as the case may be, (i) the record date for such
dividend, distribution or right, and the amount and character of such dividend,
distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up is to take place, and the time, if any is to be fixed, as of which
the holders of record of Common Stock (or such other stock or securities at the
time deliverable upon the exercise of this Warrant) shall be entitled to
exchange their shares of Common Stock (or such other stock or securities) for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up. Such notice shall be sent at least 10 days prior to the record date
or effective date for the event specified in such notice.
8. Acknowledgment and Reservation of Stock. Commencing the Vesting Date,
the Company will at all times reserve and keep available, solely for issuance
and delivery upon the exercise of this Warrant, such number of Warrant Shares
and other securities, cash and/or property, as from time to time shall be
issuable upon the exercise of this Warrant. The Holder expressly agrees and
acknowledges that the Company currently does not have for reservation or
issuance upon exercise of this Warrant a sufficient number of authorized shares
of its Common Stock.
9. Exchange or Replacement of Warrants.
(a) Upon the surrender by the Holder, properly endorsed, to the
Company at the principal office of the Company, the Company will, subject to the
provisions of Section 5 hereof, issue and deliver to or upon the order of the
Holder, at the Company's expense, a new Warrant or Warrants of like tenor, in
the name of the Holder or as the Holder (upon payment by the Holder of any
applicable transfer taxes) may direct, calling in the aggregate on the face or
faces thereof for the number of shares of Common Stock (or other securities,
cash and/or property) then issuable upon exercise of this Warrant.
(b) Upon receipt of evidence reasonably satisfactory to the Company of
the loss, theft, destruction or mutilation of this Warrant and (in the case of
loss, theft or destruction) upon delivery of an indemnity agreement (with surety
if reasonably required) in an amount reasonably satisfactory to the Company, or
(in the case of mutilation) upon surrender and cancellation of this Warrant, the
Company will issue, in lieu thereof, a new Warrant of like tenor.
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10. Notices. All notices and other communications from the Company to the
Holder in connection herewith shall be mailed by certified or registered mail,
postage prepaid, or sent via a reputable nationwide overnight courier service
guaranteeing next business day delivery, to the address last furnished to the
Company in writing by the Holder. All notices and other communications from the
Holder to the Company in connection herewith shall be mailed by certified or
registered mail, postage prepaid, or sent via a reputable nationwide overnight
courier service guaranteeing next business day delivery, to the Company at its
principal office set forth above. If the Company should at any time change the
location of its principal office to a place other than as set forth below, it
shall give prompt written notice to the Holder and thereafter all references in
this Warrant to the location of its principal office at the particular time
shall be as so specified in such notice. All such notices and communications
shall be deemed delivered (i) three business days after being sent by certified
or registered mail, return receipt requested, postage prepaid, or (ii) one
business day after being sent via a reputable nationwide overnight courier
service guaranteeing next business day delivery.
11. No Rights as Stockholder; No Liability. No provision of this Warrant
shall be construed as conferring upon the Holder hereof the right to vote or to
consent or to receive dividends or to receive notice as a stockholder in respect
of meetings of stockholders for the election of directors of the Company or any
other matter whatsoever as a stockholder of the Company. In the absence of
affirmative action by the Holder hereof to purchase shares of Common Stock, no
provision hereof shall give rise to any liability of such Holder for the
purchase price or as a stockholder of the Company, whether such liability is
asserted by the Company or by creditors of the Company.
12. Payment of Taxes. The Company will pay all documentary stamp taxes, if
any, attributable to the initial issuance of this Warrant or the shares of
Common Stock comprising the Warrant Shares; provided, however, the Company shall
not be required to pay any tax that may be payable in respect of any transfer of
this Warrant or Warrant Shares.
13. Amendment or Waiver. Any term of this Warrant may be amended or waived
only by an instrument in writing signed by the party against which enforcement
of the change or waiver is sought. No waivers of any term, condition or
provision of this Warrant, in any one or more instances, shall be deemed to be,
or construed as, a further or continuing waiver of any such term, condition or
provision.
14. Section Headings. The section headings in this Warrant are for the
convenience of the parties and in no way alter, modify, amend, limit or restrict
the contractual obligations of the parties.
15. Severability. If any provision of this Warrant shall be held invalid,
illegal or unenforceable, such invalidity, illegality or unenforceability shall
not affect any other provision of this Warrant and, to this end, the provisions
hereof are severable.
16. Assignment. This warrant shall be binding upon and inure to the benefit
of the parties hereto and their respective heirs, personal representatives,
successors and permitted assigns.
17. Governing Law. This Warrant will be governed by and construed in
accordance with the internal laws of the State of Illinois (without reference to
the conflicts of law provisions thereof).
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18. Facsimile Signatures. This Warrant may be executed by facsimile
signature.
EXECUTED as of the Issue Date indicated above.
MOLECULAR DIAGNOSTICS, INC.
By:
-----------------------------------------
Title:
---------------------------------------
ATTEST:
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EXHIBIT I
PURCHASE FORM
To: Dated:
---------------------------- -------------------------
The undersigned, pursuant to the provisions set forth in the attached
Warrant (No. ___), hereby elects to purchase (check applicable box):
____ shares of the Common Stock of Molecular Diagnostics, Inc.
by such Warrant; or
the maximum number of shares of Common Stock covered by such
Warrant pursuant to the cashless exercise procedure set forth in subsection
1(b).
The undersigned herewith makes payment of the full purchase price for such
shares at the price per share provided for in such Warrant. Such payment takes
the form of (check applicable box or boxes):
$______ in lawful money of the United States; and/or
the cancellation of such portion of the attached Warrant as is
exercisable for a total of _____ Warrant Shares (using a Fair
Market Value of $_____ per share for purposes of this
calculation) ; and/or
the cancellation of such number of Warrant Shares as is
necessary, in accordance with the formula set forth in subsection
1(b), to exercise this Warrant with respect to the maximum number
of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 1(b).
Signature:
--------------------------------
Address:
--------------------------------
--------------------------------
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EXHIBIT II
ASSIGNMENT FORM
FOR VALUE RECEIVED, ________________________________________ hereby sells,
assigns and transfers all of the rights of the undersigned under the attached
Warrant (No. ____) with respect to the number of shares of Common Stock of
Molecular Diagnostics, Inc. covered thereby set forth below, unto:
Name of Assignee Address No. of Shares
Dated: Signature:
---------------------------- -------------------------------
Signature Guaranteed:
By:
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The signature should be guaranteed by an eligible guarantor institution (banks,
stockbrokers, savings and loan associations and credit unions with membership in
an approved signature guarantee medallion program) pursuant to Rule 17Ad-15
under the Securities Exchange Act of 1934, as amended.
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