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<SEC-DOCUMENT>0000950134-05-008565.txt : 20050429
<SEC-HEADER>0000950134-05-008565.hdr.sgml : 20050429
<ACCEPTANCE-DATETIME>20050429172323
ACCESSION NUMBER:		0000950134-05-008565
CONFORMED SUBMISSION TYPE:	10KSB/A
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20041231
FILED AS OF DATE:		20050429
DATE AS OF CHANGE:		20050429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENEMAX CORP
		CENTRAL INDEX KEY:			0001094038
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				880277072
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10KSB/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27239
		FILM NUMBER:		05787468

	BUSINESS ADDRESS:	
		STREET 1:		1135 TERMINAL WAY
		STREET 2:		SUITE 209
		CITY:			RENO
		STATE:			NV
		ZIP:			89502-2168
		BUSINESS PHONE:		7753323325

	MAIL ADDRESS:	
		STREET 1:		1135 TERMINAL WAY
		STREET 2:		SUITE 209
		CITY:			RENO
		STATE:			NV
		ZIP:			89502-2168

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EDUVERSE COM
		DATE OF NAME CHANGE:	19990827
</SEC-HEADER>
<DOCUMENT>
<TYPE>10KSB/A
<SEQUENCE>1
<FILENAME>d24836a1e10ksbza.htm
<DESCRIPTION>AMENDMENT TO FORM 10-KSB
<TEXT>
<HTML>
<HEAD>
<TITLE>e10ksbza</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>U.S. SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 10-KSB/A</B>


<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%" style="font-size: 12pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><FONT face="Wingdings">&#254;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934</B></TD>
</TR>
</TABLE>
</DIV>




<P align="left" style="margin-left:10%; font-size: 10pt">For the fiscal year ended December&nbsp;31, 2004

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%" style="font-size: 12pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934</B></TD>
</TR>
</TABLE>
</DIV>




<P align="left" style="margin-left:10%; font-size: 10pt">For the transition period from <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> to <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>


<P align="center" style="font-size: 10pt">Commission file number 0-27239


<P align="center" style="font-size: 24pt"><B><U>GENEMAX CORP.</U></B>



<P align="center" style="font-size: 10pt">(Exact name of small business issuer as specified in its charter)


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><U>NEVADA</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><U>88-0277072</U></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of<BR>
incorporation of organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">900 West Hastings Street<BR>
Vancouver, British Columbia<BR>
<U>Canada V6C 1E5</U><BR>
(Address of Principal Executive Offices)



<P align="center" style="font-size: 10pt"><U>(604)&nbsp;331-0400</U><BR>
(Issuer&#146;s telephone number)


<P align="left" style="font-size: 10pt">Securities registered pursuant to Section 12(b) of the Exchange Act: None.


<P align="left" style="font-size: 10pt">Securities registered pursuant to Section 12(g) of the Exchange Act:



<P align="center" style="font-size: 10pt"><U>Common Stock, Par Value $0.001</U><BR>
(Title of class)


<P align="left" style="font-size: 10pt">Check whether the issuer (1)&nbsp;filed all reports required to be filed by Section&nbsp;13 or 15(d) of the
Exchange Act during the past 12&nbsp;months (or for such shorter period that the registrant was required
to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90&nbsp;days.
Yes <FONT face="Wingdings">&#254;</FONT> No <FONT face="Wingdings">&#111;</FONT>


<P align="left" style="font-size: 10pt">Check here if there is no disclosure of delinquent filers in response to Item&nbsp;405 of Regulation&nbsp;S-B
contained in this Form, and no disclosure will be contained, to the best of Registrant&#146;s knowledge,
in definitive proxy or information statements incorporated by reference in Part&nbsp;III of this Form
10-KSB or any amendment to this Form 10-KSB. <FONT face="Wingdings">&#111;</FONT>


<P align="left" style="font-size: 10pt">The Registrant&#146;s revenues for the fiscal year ended December&nbsp;31, 2004 were $0.


<P align="left" style="font-size: 10pt">The aggregate market value of the voting stock held by non-affiliates of the Registrant as of April
28, 2005 was approximately $8,168,209 based upon the average bid and ask price on that date.


<P align="left" style="font-size: 10pt">The number of shares of the Registrant&#146;s Common Stock outstanding as of April&nbsp;28, 2005 was
29,172,176.



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>








<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">FORWARD LOOKING STATEMENTS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART&nbsp;III</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">ITEM 9 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">ITEM 10 EXECUTIVE COMPENSATION</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">ITEM 11 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">ITEM 12 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">ITEM 13 EXHIBITS, LIST AND REPORTS ON FORM 8-K</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv10w8.htm">Jefferies and 442668 B. C. Ltd. Consulting Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv10w9.htm">Handford Consulting Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv10w10.htm">Farrauto Consulting Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv31w1.htm">Certification of CEO Pursuant to Rule 13a-14(a) Section 302</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv31w2.htm">Certification of CFO Pursuant to Rule 13a-14(a) Section 302</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv32w1.htm">Certification of CEO Under Section 1350 Pursuant to Section 906</A></TD></TR>
<TR><TD colspan="9"><A HREF="d24836a1exv32w2.htm">Certification of CFO Under Section 1350 Pursuant to Section 906</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "FORWARD LOOKING STATEMENTS" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>FORWARD LOOKING STATEMENTS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements made in this Form 10-KSB/A that are not historical or current facts are
&#147;forward-looking statements&#148; made pursuant to the safe harbor provisions of Section&nbsp;27A of the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;) and Section&nbsp;21E of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). These statements often can be identified by
the use of terms such as &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;believe,&#148; &#147;anticipate,&#148; &#147;estimate,&#148;
&#147;approximate&#148; or &#147;continue,&#148; or the negative thereof. The company intends that such
forward-looking statements be subject to the safe harbors for such statements. The company wishes
to caution readers not to place undue reliance on any such forward-looking statements, which speak
only as of the date made. Any forward-looking statements represent management&#146;s best judgment as
to what may occur in the future. However, forward-looking statements are subject to risks,
uncertainties and important factors beyond the control of the company that could cause actual
results and events to differ materially from historical results of operations and events and those
presently anticipated or projected. The company disclaims any obligation subsequently to revise
any forward-looking statements to reflect events or circumstances after the date of such statement
or to reflect the occurrence of anticipated or unanticipated events.


<P align="left" style="font-size: 10pt"><B>Available Information</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GeneMax Corp. files annual, quarterly and current reports, proxy statements and other
information with the Securities and Exchange Commission (the &#147;Commission&#148;). You may read and copy
documents referred to in this Annual Report on Form 10-KSB/A that have been filed with the
Commission at the Commission&#146;s Public Reference Room, 450 Fifth Street, N.W., Washington, D.C. You
may obtain information on the operation of the Public Reference Room by calling the Commission at
1-800-SEC-0330. You can also obtain copies of our Commission filings by accessing the Commission&#146;s
website at http://www.sec.gov.


<P align="left" style="font-size: 10pt"><B>References</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this Annual Report, the terms &#147;we,&#148; &#147;us,&#148; and the &#147;company&#148; refer to GeneMax Corp. and,
where the context so requires or suggests, our direct and indirect subsidiaries. References to
&#147;dollars&#148; or &#147;$&#148; are to United States Dollars.


<P align="left" style="font-size: 10pt"><B>Explanatory Notes</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No.&nbsp;1 on Form 10-KSB/A to the Annual Report on Form 10-KSB (the of GeneMax
Corp. filed on April&nbsp;15, 2005 with the Securities and Exchange Commission is filed for the purpose
of including information that was to be incorporated by reference from GeneMax&#146;s definitive proxy
statement pursuant to Regulation&nbsp;14A of the Securities and Exchange Act of 1934. GeneMax will not
file its proxy statement within 120&nbsp;days of its fiscal year ended December&nbsp;31, 2004 and is
therefore amending and restating in its entirety Part&nbsp;III of the Form 10-SBK.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "PART&nbsp;III" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART&nbsp;III</B>


<!-- link2 "ITEM 9 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 9 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT</B>



<P align="left" style="font-size: 10pt"><B>Directors and Executive Officers</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth certain information with respect to the directors and executive
officers of GeneMax as of December&nbsp;31, 2004:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Age</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Position with the Company</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Konstantine Sarafis <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">43</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director and President, Chief Executive Officer</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. Wilfred Jefferies
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">47</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the board of directors and Chief Scientific Officer</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Edward Farrauto
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">48</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer, Secretary, Treasurer</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. Karl E. Hellstrom
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">70</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. W. Pearson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">59</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Glynn Wilson <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">58</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>These individuals were appointed to the company&#146;s board of directors subsequent to
December&nbsp;31, 2004.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt"><B>Biographies of Directors and Officers</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KONSTANTINE SARAFIS is the President and Chief Executive Officer and a director of the company
and has served as a director since February&nbsp;2005. Mr.&nbsp;Sarafis is an experienced executive with a
13-year history of building, operating and mentoring biotechnology companies. He founded two
biotechnology companies, the most recent being Interomex Biopharmaceuticals Inc. where he was
involved in arranging venture capital financing and running all aspects of business operations from
1998 through 2002. More recently Mr.&nbsp;Sarafis has been a full-time consultant to emerging
biotechnology companies and academic institutions wishing to commercialize new technologies. Prior
to entering the biotechnology sector, he was a researcher in the Division of Medical Microbiology
at the University of British Columbia. Mr.&nbsp;Sarafis has extensive experience in managing
intellectual property, technology licensing, finance and marketing, and is well versed in corporate
governance issues.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DR.&nbsp;WILFRED JEFFERIES, D.Phil. is the Chief Scientific Officer, a director and the Chairman of
the board of directors of the company and has served as a director since July&nbsp;2002. Dr.&nbsp;Jefferies
is a Professor of Medical Genetics, Microbiology and Immunology, and a member of the Biomedical
Research Centre and the Biotechnology Laboratory at the University of British Columbia. Dr.
Jefferies received his D.Phil. from Oxford University and was a post-doctoral research fellow at
the Karolinska Institute in Sweden and the Swiss Cancer Institute in Lausanne. His current
research focus at University of British Columbia is iron transport/metabolism and antigen
processing. Dr.&nbsp;Jefferies oversees and directs the scientific development of the company.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DR.&nbsp;KARL E. HELLSTROM has served as a director since December&nbsp;2002. Dr.&nbsp;Karl Hellstrom
received his M.D. and Ph.D. degrees from the Karolinska Institute in Stockholm, Sweden, initially
working in the area of tumor biology with an emphasis on immunogenetics. Subsequently, Dr.
Hellstrom became a Professor in Pathology and an adjunct professor in microbiology/immunology at
the University of Washington Medical School. During 1975, Dr.&nbsp;Hellstrom moved to the newly
established Fred Hutchinson Cancer Research Center in Seattle, Washington, as a director of its
Tumour Immunology Program. In 1983, he joined the biotechnology company Oncogen which, in 1990,
was integrated into the Pharmaceutical Research Institute of Bristol-Myers Squibb company. Dr.
Hellstrom became vice president of Oncology Discovery and, since 1995, of Immunotherapeutics.
Between 1997 and June&nbsp;30, 2004 Dr.&nbsp;Hellstrom worked at the Pacific Northwest Research Institute,
where he was leading a group in Tumour Immunology as a principal scientist. Commencing July&nbsp;1,
2004 Dr.&nbsp;Hellstrom returned to the Department of Pathology, University of Washington / Harborview
Medical Center. Dr.&nbsp;Hellstrom is a


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">recipient of several awards, including a yearly award from the American cancer Society, and he
is a Knight of the Northern Star, first class (a Swedish order of merit).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DR.&nbsp;TERRY W. PEARSON has served as a director of the company since February&nbsp;2004. Dr.
Pearson is professor of Biochemistry and Microbiology at the University of Victoria. He received
his BSc and Ph.D. degrees in microbiology and immunology from the University of British Columbia at
Vancouver. After postdoctoral work at the Medical Research Council Laboratory for Molecular
Biology in Cambridge, England, Dr.&nbsp;Pearson worked as staff scientist in its cell biology section.
He also served as staff scientist at the International Laboratory for Research on Animal Diseases
in Nairobi, Kenya. His current research focuses on the biochemical and immunological analysis of
tropical protozoan parasites, primarily the trypanosome, the causative agent of African sleeping
sickness. A guest speaker at numerous institutions and international meetings, Dr.&nbsp;Pearson served
as a Trustee of the Terry Fox Medical Research Foundation and as a Director of the Science Council
of British Columbia. Dr.&nbsp;Pearson was the recipient of the Inaugural Award for Excellence in Science
Teaching at the University of Victoria. He has spent more than six years living and traveling in
Africa, and continues to do collaborative research with laboratories in Europe, the USA and Africa
aimed at stopping sleeping sickness, a disease that has altered the history of the African
continent. At Cambridge, Dr.&nbsp;Pearson was involved with the early stages in the discovery of
monoclonal antibodies and takes a particular interest in alternate methods for their derivation,
production and use in immunodiagnostics and in vaccine development.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GLYNN WILSON has served as a director of the company since February&nbsp;2005. Dr.&nbsp;Wilson is an
internationally renowned expert in drug delivery technologies. He was previously Head of Drug
Delivery at SmithKline Beecham Pharmaceuticals and Executive Vice-President of R&#038;D at Tacora
Corporation. Currently, Dr.&nbsp;Wilson is President and CEO of Auriga Pharmaceuticals, a Speciality
Pharmaceutical Company, and President of the GW Group. Dr.&nbsp;Wilson obtained his Ph.D. in
Biochemistry, at Heriot-Watt University, Edinburgh, and he was a faculty member at Rockefeller
University, New York, in the laboratory of the Nobel Laureates, Stanford Moore and William Stein.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EDWARD FARRAUTO is the Chief Financial Officer, Secretary and Treasurer of the company and has
served in these positions since May&nbsp;2004.


<P align="left" style="font-size: 10pt"><B>Committees of the Board of Directors</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Audit Committee</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has established an audit committee and is currently establishing a
nominating and governance committee and a compensation committee. Effective March&nbsp;11, 2005, the
members of the audit committee are Dr.&nbsp;Glynn Wilson and Dr.&nbsp;Terry Pearson. As a result of a recent
resignation from the company&#146;s board of directors of a director who was also the audit committee
financial expert, we do not have an audit committee financial expert serving on the audit
committee. Each member of the audit committee is &#147;independent&#148; within the meaning of Rule&nbsp;10A-3
under the Exchange Act.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The audit committee was organized in March&nbsp;2004, and operates under a written charter adopted
by the Board of Directors in March&nbsp;2004. A copy of the audit committee charter, dated February&nbsp;13,
2004, was filed as Exhibit&nbsp;99.1 to the company&#146;s Form 10-KSB filed April&nbsp;14, 2004.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Report of the Audit Committee</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In April&nbsp;2005 the audit committee discussed with Dale Matheson Carr-Hilton Labonte the matters
required to be discussed by Statement on Auditing Standards No.&nbsp;61, Communication with Audit
Committees, as amended, by the Auditing Standards Board of the American Institute of Certified
Public Accountants.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Also in April&nbsp;2005 the audit committee received and reviewed the written disclosures and the
letter from Dale Matheson Carr-Hilton Labonte required by Independence Standards Board Standard No.
1, Independence Discussions with audit committees, as amended, and discussed with Dale Matheson
Carr-Hilton Labonte their independence.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April&nbsp;14, 2005 the audit committee met to review and discuss with management the company&#146;s
audited financial statements as of and for the year ended December&nbsp;31, 2004.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the reviews and discussions referred to above, the audit committee recommended to the
Board of Directors that the audited financial statements referred to above be included in the
company&#146;s Annual Report on Form 10-KSB for the year ended December&nbsp;31, 2004 filed with the
Securities and Exchange Commission on April&nbsp;15, 2005.


<P align="left" style="font-size: 10pt"><B>Compliance with Section&nbsp;16(a) of the Exchange Act</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16(a) of the Exchange Act requires the company&#146;s directors and officers, and the
persons who beneficially own more than ten percent of the common stock of the company, to file
reports of ownership and changes in ownership with the Securities and Exchange Commission. Copies
of all filed reports are required to be furnished to the company pursuant to Rule&nbsp;16a-3 promulgated
under the Exchange Act. To the company&#146;s knowledge, based solely on review of copies of such
reports furnished to us and verbal representations that no other reports were required to be filed
during the fiscal year ended December&nbsp;31, 2004, all Section 16(a) filing requirements applicable to
its directors, executive officers and 10% owners were not met. None of Terry Pearson, Edward
Farrauto, Karl Erik Hellstrom or Konstantine Sarafis filed Forms 3 upon becoming officers or
directors of the company. In addition: (a)&nbsp;Terry Pearson, a director of the company, has not
filed a Form&nbsp;4 in respect of 150,000 stock options granted in June, 2004; (b)&nbsp;Karl Erik Hellstrom,
a director of the company, has not filed a Form&nbsp;4 in respect of 100,000 stock options granted in
June, 2004; (c)&nbsp;Edward Farrauto, an officer of the company, has not filed a Form&nbsp;4 in respect of
100,000 stock options granted in June, 2004; and (d)&nbsp;Konstantine Sarafis, an officer of the
company, has not filed a Form&nbsp;4 in respect of 300,000 stock options granted in August, 2004. We
have retained U.S. securities counsel to assist with efforts to comply with section 16
requirements. The company has no knowledge of the holdings of any 10% shareholders, whether there
have been any changes in the registered and beneficial ownership of securities held by these
individuals and whether any section 16(a) filings were required or, if required, were made.


<P align="left" style="font-size: 10pt"><B>Code of Ethics</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At this time, the company has not adopted a formal Code of Ethics that applies to the Chief
Executive Officer and Chief Financial Officer. The company expects to adopt a formal Code of
Ethics no later than December&nbsp;31, 2005.

<!-- link2 "ITEM 10 EXECUTIVE COMPENSATION" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 10 EXECUTIVE COMPENSATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows how much compensation was paid by GeneMax for the last three fiscal
years to GeneMax&#146;s Chief Executive Officer and each other executive officer, each of whom is
referred to as a Named Executive Officer, whose total annual salary and bonus exceeded $100,000 for
services rendered to the subsidiaries during such fiscal years.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name and Position</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Year</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Salary</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Bonus</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Other</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Options</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ronald Handford,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">56,305</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President, CEO and</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">97,845</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">69,374</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">350,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dr.&nbsp;Wilfred
Jefferies, </DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">48,522</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Scientific Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">0</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">83,753</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">and Chairman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">67,670</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>Received by the Handford Management Inc. pursuant to contractual provisions of Handford
Services Agreement. Mr.&nbsp;Handford is the sole officer, director and 50% shareholder of Handford
Management, Inc. Mr.&nbsp;Hanford resigned as a director and officer of the company effective
February&nbsp;8, 2005 and the Handford Services Agreement was terminated effective April&nbsp;7, 2005.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)&nbsp;&nbsp;</TD>
    <TD>Paid to 442668 B.C. Ltd. pursuant to the 442668 B.C. Consulting Agreement. Dr.&nbsp;Jefferies is
an officer, director and a 50% shareholder of 442668 B.C. Ltd.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)&nbsp;&nbsp;</TD>
    <TD>Does not include the $38,600 bonus to Dr.&nbsp;Jefferies approved by the board of directors
effective December&nbsp;31, 2003. As of the date of this Annual Report, the bonus remains due and
payable.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date of this report, none of the directors or officers of the company are
compensated for their roles as directors or executive officers. However, Messrs.&nbsp;Sarafis and Dr.
Jefferies derive remuneration from the company as compensation for consulting services rendered.
See &#147;Consulting Agreements.&#148; Officers and directors of the company are also reimbursed for any
out-of-pocket expenses incurred by them on behalf of the company. GeneMax presently has no
pension, health, annuity, insurance, profit sharing or similar benefit plans.


<P align="left" style="font-size: 10pt"><B>Aggregated Option Exercises in Last Fiscal Year and Fiscal Year-End Option Values</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no option exercises during the fiscal year ended December&nbsp;31, 2004 by the officers
and directors of GeneMax.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December&nbsp;31, 2004, 4,777,100 stock options previously granted to directors, officers,
and consultants of the company and its subsidiaries pursuant to the Stock Option Plan were
outstanding. As of March&nbsp;31, 2005, there were 4,777,100 stock options outstanding.


<P align="left" style="font-size: 10pt"><B>Aggregated Option Holdings in Last Fiscal Year and Fiscal Year-End Option Values</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth outstanding options held by the Named Executive Officers as of
December&nbsp;31, 2004:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of Shares Underlying</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Value of In-the-Money Options</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exercisable Options at FY End</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>at FY End</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ron Handford</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">550,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wilfred Jefferies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><B>Management Consulting Agreements</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>442668 B.C. Consulting Agreements</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;1, 2000, GeneMax Pharmaceuticals and 442668 B.C. Ltd, a British Columbia
corporation, entered into a consulting agreement, which we refer to as the 442668 B.C Consulting
Agreement, and such agreement was amended effective December&nbsp;31, 2003. Dr.&nbsp;Jefferies is an officer,
director and a 50% shareholder of 442668 B.C. Ltd. Pursuant to the 442668 B.C. Consulting
Agreement, as amended, Dr.&nbsp;Jefferies was to provide technical, research and technology development
services to GeneMax until March&nbsp;6, 2005. Dr.&nbsp;Jefferies was to be paid a monthly fee of
approximately $14,166 (CDN)&nbsp;for an aggregate annual salary of $170,000 (CDN), and would be
reimbursed for expenses incurred for the benefit of GeneMax Pharmaceuticals. Separately, it was
agreed that Dr.&nbsp;Jefferies would also be entitled to anti-dilution provisions in respect of his
stock position pursuant to which, upon the achievement of certain milestones to be mutually agreed
upon by the company and Dr.&nbsp;Jefferies, Dr.&nbsp;Jefferies&#146; fully diluted equity ownership interest
would be modified to twenty-five percent (25%) of the total issued and outstanding shares of common
stock. The anti-dilution provisions were to expire on December&nbsp;31, 2007 and were also subject to
regulatory approvals of applicable jurisdictions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective December&nbsp;31, 2003, the Board of Directors of the company approved and authorized the
payment to Dr.&nbsp;Jefferies of a bonus in the aggregate amount of $50,000 (CDN). The bonus was to
accrue and, at the election of Dr.&nbsp;Jefferies, was to be payable from receipt of certain subsequent
proceeds or assigned to the company for the exercise price of certain stock options.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective February&nbsp;8, 2005, the 442668 B.C. Consulting Agreement was renegotiated. The
renegotiated agreement, which we refer to as the Jefferies &#038; 442668 B.C. Consulting Agreement, was
entered into by the company, 442668 B.C. Ltd. and Wilfred Jefferies and provides for a base fee of
$10,000 (CDN)&nbsp;per month, an annual bonus to be determined by the company&#146;s compensation committee
and a grant of options, at a future date to


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">be determined, to acquire up to 2,500,000 shares of common stock. Options to acquire an
additional 2,000,000 shares of common stock will be granted upon the achievement of certain
financial milestones. In addition, 442668 B.C. Ltd. will be issued 452,100 shares of common stock
in consideration of the forgiveness of $113,205 of debt that had accrued under the 442668 B.C. Ltd.
Consulting Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Jefferies &#038; 442668 B.C. Consulting Agreement, 442668 B.C. Ltd. agreed to provide the
services of Dr.&nbsp;Jefferies as the Chief Science Officer of the company. The terms of the
renegotiated agreement expires December&nbsp;31, 2007 and will automatically renew for successive one
year terms unless any party gives not les than 6&nbsp;months notice to the others.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Handford Services Agreement</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;1, 1999 and as amended on December&nbsp;31, 2003, GeneMax Pharmaceuticals and Ronald
Handford, then acting as the President, Chief Executive Officer and a director of GeneMax, entered
into a Management Services Agreement, which we refer to as the Handford Services Agreement.
Pursuant to the Handford Services Agreement, Mr.&nbsp;Handford provided development and management
services to the company in exchange for a monthly salary of $12,500 (CDN), for an aggregate annual
salary of $150,000 (CDN).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective February&nbsp;8, 2005, the Handford Services Agreement was renegotiated to provide for a
monthly consulting fee of $8,333,33 (CDN)&nbsp;and a grant of options to acquire 400,000 shares of
common stock. The term of the renegotiated agreement was from month to month, commencing February
8, 2005. The company gave one month&#146;s termination notice on or about March&nbsp;7, 2005 and the
Handford Services Agreement was terminated effective April&nbsp;7, 2005.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Atkins Consulting Agreement</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Atkins, a director of the company, commenced providing services as the Chief Financial
Officer, Secretary and Treasurer on March&nbsp;1, 2003. Mr.&nbsp;Atkins resigned as Chief Financial Officer,
Secretary and Treasurer of GeneMax and its subsidiaries effective April&nbsp;8, 2004 and resigned as a
director effective April&nbsp;16, 2004.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Farrauto Consulting Agreement</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective May&nbsp;19, 2004, the company and No.&nbsp;348 Sail View Ventures Ltd., a British Columbia
corporation, entered into a consulting agreement, which we refer to as the Farrauto Consulting
Agreement. Ed Farrauto is the sole officer, director and shareholder of No.&nbsp;348 Sail View Ventures
Ltd.. Pursuant to the Farrauto Consulting Agreement, No.&nbsp;348 Sail View Ventures Ltd. will provide
certain accounting and bookkeeping services to the company and No.&nbsp;348 Sail View Ventures Ltd.
agreed to provide Mr.&nbsp;Farrauto as the company&#146;s Chief Financial Officer, Secretary and Treasurer.
In consideration for services rendered No.&nbsp;348 Sail View Ventures Ltd. will be paid a monthly fee
of $5,000 plus goods and services tax, and was granted options to acquire 100,000 shares of common
stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Sarafis Consulting Agreement</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective September&nbsp;1, 2004, the company and Konstantine Sarafis entered into a consulting and
non-competition agreement, which we refer to as the Sarafis Consulting Agreement. Pursuant to the
Sarafis Consulting Agreement, Mr.&nbsp;Sarafis was retained as a consultant to the company to provide
certain administrative and operational services in consideration of a daily fee of $1,000 (CDN)&nbsp;for
each full day that such services are provided. Mr.&nbsp;Sarafis was also granted options to acquire
300,000 shares of common stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective February&nbsp;8, 2005, the Sarafis Consulting Agreement was replaced with an employment
agreement which we refer to as the Sarafis Employment Agreement. Pursuant to the Sarafis
Employment Agreement, Mr.&nbsp;Sarafis was engaged as the company&#146;s chief executive officer for
consideration comprised of a gross annual salary of $170,000 (CDN), an annual bonus to be
determined by the company&#146;s compensation committee and the grant of 500,000 common shares and
options to acquire up to an aggregate of 2,400,000 common shares. The term of the Sarafis
Employment Agreement expires December&nbsp;31, 2007.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "ITEM 11 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>ITEM 11</B>&nbsp;</TD>
    <TD><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED STOCKHOLDER MATTERS</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth, as of March&nbsp;31, 2005, certain information regarding the
ownership of GeneMax&#146;s common stock by (i)&nbsp;each person known by GeneMax to be the beneficial owner
of more than 5% of the outstanding shares of common stock, (ii)&nbsp;each of GeneMax&#146;s directors, (iii)
each Named Executive Officer and (iv)&nbsp;all of GeneMax&#146;s executive officers and directors as a group.
Unless otherwise indicated, the address of each person shown is c/o GeneMax Corp., 1691 Chestnut
Street, Suite&nbsp;400, Vancouver, British Columbia, Canada V6J 4M6. Beneficial ownership, for purposes
of this table, includes options to purchase common stock that are either currently exercisable or
will be exercisable within 60&nbsp;days of March&nbsp;31, 2005. Directors and executive officers as a group
beneficially owned 9.5% of the common stock.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Name and Address of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Beneficial Owner</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Beneficially Owned</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Percent of Class</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ronald Handford<BR>
3432 West 13th Avenue<BR>
Vancouver, British Columbia<BR>
Canada V5Y 1W1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">1,466,000 <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.93</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. Wilfred Jefferies<BR>
442668 B.C. Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">4,770,465 <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15.30</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James D. Davidson<BR>
321 S. St. Asaph Street<BR>
Alexandria, Virginia 22314
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">1,393,313 <SUP style="font-size: 85%; vertical-align: text-top">(3) (8)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.76</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. Karl Hellstrom
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">400,000 <SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.35</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Konstantine Sarafis
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">300,000 <SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.02</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Glynn Wilson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">Nil
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">Nil
</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Edward Farrauto
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">100,000 <SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.34</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. Terry Pearson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">250,000 <SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.85</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Newport Capital Corp.<BR>
Rennweg 28<BR>
Zurich Switzerland CH 8001
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">1,687,942 <SUP style="font-size: 85%; vertical-align: text-top">(8)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.65</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">All Current Officers and
Directors as a Group (7
persons)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,820,465</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18.06</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>Includes (a)&nbsp;808,000 shares of common stock held directly by Mr.&nbsp;Handford; (b)&nbsp;100,000
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock held directly by Handford Management Inc. in which Mr.&nbsp;Handford has
sole voting and disposition power; (c)&nbsp;8,000 warrants exercisable into 8,000 shares of common
stock at $0.75 per share expiring December&nbsp;1, 2005; (d)&nbsp;stock options to acquire 350,000
shares of common stock at $1.00 per share; and (e)&nbsp;stock options to acquire 200,000 shares of
common stock at $0.50 per share. Under the Handford Services Agreement, as it was
renegotiated on February&nbsp;8, 2005, Mr.&nbsp;Handford agreed to relinquish all previously issued
stock options in consideration of the options granted under the renegotiated agreement.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)&nbsp;&nbsp;</TD>
    <TD>Includes: (a)&nbsp;2,770,465 shares of common stock held by 442668 B.C. Ltd.; (b)&nbsp;stock options to
acquire 500,000 shares of common stock at $1.00 per share; and (c)&nbsp;stock options to acquire
1,500,000 shares of common stock at $0.50 per share.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)&nbsp;&nbsp;</TD>
    <TD>Includes (a)&nbsp;792,883 shares of common stock held of record by Mr.&nbsp;Davidson; (b)&nbsp;500,000
shares of common stock held directly by Mr.&nbsp;Davidson&#146;s two minor children, over which Mr.
Davidson has sole voting and disposition power; (c)&nbsp;warrants exercisable into 13,333 shares of
common stock at the rate of $0.75 per share expiring on May&nbsp;1, 2006; (d)&nbsp;warrants exercisable
by Mr.&nbsp;Davidson into 15,000 shares of common stock at the rate of $1.00 per share expiring
December&nbsp;1, 2005; and (e)&nbsp;stock options to acquire 72,100 shares of common stock at $1.00 per
share. As of the date of this Annual Report, Mr.&nbsp;Davidson has exercised 52,900 stock options
at $1.00 per share into 52,900 shares of common stock.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(4)&nbsp;&nbsp;</TD>
    <TD>Includes: (a)&nbsp;stock options to acquire 100,000 shares of common stock at $1.00 per share; (b)
stock options to acquire 200,000 shares of common stock at $1.00 per share; and (c)&nbsp;stock
options to acquire 100,000 shares of common stock at $0.50 per share.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(5)&nbsp;&nbsp;</TD>
    <TD>Represents stock options to acquire 300,000 shares of common stock at $0.50 per share. Under
the Sarafis Employment Agreement, Mr.&nbsp;Sarafis agreed to relinquish all previously issued stock
options in consideration of the options granted under the Sarafis Employment Agreement</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(6)&nbsp;&nbsp;</TD>
    <TD>Represents stock options to acquire 100,000 shares of common stock at $0.70 per share.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(7)&nbsp;&nbsp;</TD>
    <TD>Represents: (a)&nbsp;stock options to acquire 100,000 shares of common stock at $1.00 per share;
and (b)&nbsp;stock options to acquire 150,000 shares of common stock at $0.50 per share.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(8)&nbsp;&nbsp;</TD>
    <TD>Based on information available to the company but which has not been independently verified.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the Pooling Agreement, there are no arrangements or understanding among
the entities and individuals referenced above or their respective associates concerning election of
directors or any other matters which may require shareholder approval.


<P align="left" style="font-size: 10pt"><B>Securities Authorized For Issuance Under Equity Compensation Plans</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="13" style="border-bottom: 1px solid #000000"><B>Equity Compensation Plan Information</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of securities</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">remaining available for</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">future issuance under</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">equity compensation plans</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of securities to be</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Weighted-average exercise</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(excluding securities</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">issued upon exercise of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">price of outstanding</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">reflected in the 1st</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Plan Category</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">outstanding options</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">options</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">column)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Equity Compensation
Plans approved by
security holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Equity Compensation
Plans not approved
by security holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,777,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,222,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,777,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,222,900</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "ITEM 12 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 12 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</B>



<P align="left" style="font-size: 10pt"><B>Voluntary Pooling Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;9, 2002, GeneMax, certain shareholders and Global Securities Transfer Inc. (now
X-Clearing Corp.), the company&#146;s stock transfer agent, entered into an agreement, referred to in
this Form 10-KSB/A as the VPA, effective July&nbsp;15, 2002. The VPA provides that certain shareholders
of the company holding collectively 9,158,280 shares of common stock agreed to a restrictive
holding period for the pooled shares. The VPA provides that the pooled shares will not be traded,
will not become available for trading and will not be released to the shareholders to enable them
to be sold until certain future release dates. The initial ten percent (10%) of the pooled shares
was to be released on or about that date which was one year from the final closing under the share
exchange


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">agreement; however the pooling committee established by the Board of Directors to administer
the VPA extended that date by one year. The company subsequently determined that the initial 10%
release should have occurred on October&nbsp;15, 2003 and that the pooling committee had effectively
extended that date to October&nbsp;15, 2004. Following the initial release, the remaining pooled shares
will be released in ten percent (10%) increments every three calendar months. The terms of the VPA
may not be changed and the pool may not be challenged without the prior written consent of at least
such number of pooled shareholders who hold not less than two-thirds of the pooled shares remaining
in the pool.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of the ongoing dispute with the transfer agent, none of the Pooled Shares have
been released from the VPA to date.


<P align="left" style="font-size: 10pt"><B>Handford Services Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the fiscal years ended December&nbsp;31, 2004 and 2003, pursuant to the Handford Services
Agreement with Ron Handford, the company paid or incurred $123,551 and $107,336, respectively.


<P align="left" style="font-size: 10pt"><B>442668 B.C. Consulting Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the fiscal years ended December&nbsp;31, 2004 and 2003, pursuant to the 442668 B.C.
Consulting Agreement with 442668 B.C. Ltd., the company paid or incurred $140,022 and $130,503,
respectively. Dr.&nbsp;Jefferies is an officer, director and a 50% shareholder of 442668 B.C. Ltd.


<P align="left" style="font-size: 10pt"><B>ICI Consulting Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GeneMax and ICI entered into a consulting services agreement effective May&nbsp;9, 2002, pursuant
to which ICI provided management consulting services, development of various business interests,
and other consulting services to the company for a monthly fee of $10,000.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the fiscal year ended December&nbsp;31, 2003, an aggregate of $120,000 in fees was incurred
to ICI for services rendered to the company under the Consulting Services Agreement. In addition,
ICI incurred expenses on behalf of the company totaling $637,741. During the fiscal year ended
December&nbsp;31, 2003, the company paid ICI $428,621, settled a further $260,000 in exchange for debt
for the exercise of stock options to consultants of ICI, and exchanged $71,274 in debt ICI assigned
to International Market Trend, AG for the exercise of stock options to certain consultants of IMT.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective December&nbsp;31, 2003, the company accepted the resignation of ICI. The Board of
Directors of the company made the decision to subsequently contract directly for certain services
previously performed by ICI. Specifically, Grant Atkins, a director of the company and a
consultant for ICI, entered into a verbal arrangement to provide certain services formerly provided
by ICI. Mr.&nbsp;Atkins has served as Chief Financial Officer of the company from March&nbsp;1, 2003 to April
7, 2004. Mr.&nbsp;Atkins resigned as Chief Financial Officer, Secretary and Treasurer of the company
effective April&nbsp;8, 2004.


<P align="left" style="font-size: 10pt"><B>Farrauto Consulting Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the fiscal year ended December&nbsp;31, 2004, the company paid or incurred $30,508 to Mr.
Farrauto.


<P align="left" style="font-size: 10pt"><B>Sarafis Consulting Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the fiscal year ended December&nbsp;31, 2004, the company paid or incurred $66,556 to Mr.
Sarafis.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "ITEM 13 EXHIBITS, LIST AND REPORTS ON FORM 8-K" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 13 EXHIBITS, LIST AND REPORTS ON FORM 8-K</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>Index to and Description of Exhibits</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">Description of Exhibit</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i) Amended and Restated Articles of the company dated May&nbsp;19,
1999 filed as Exhibit&nbsp;2.1 to the company&#146;s Form&nbsp;10-SB filed September&nbsp;3, 1999
and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii) Amended and Restated Bylaws of the company dated May&nbsp;10,
2004 filed as Exhibit&nbsp;3.1 to the company&#146;s Form&nbsp;10-QSB filed May&nbsp;20, 2004 and
incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Option Agreement made September&nbsp;14, 1999 between GeneMax
Pharmaceuticals Inc. and The University of British Columbia. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">License Agreement made March&nbsp;6, 2000 between GeneMax
Pharmaceuticals Inc., The University of British Columbia and Dr.&nbsp;Wilfred
Jefferies. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Collaborative Research Agreement made September&nbsp;1, 2000 between
GeneMax Pharmaceuticals Canada Inc., GeneMax Pharmaceuticals Inc. and the
University of British Columbia. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Non-Disclosure Agreement made October&nbsp;3, 2002 between GeneMax
Pharmaceuticals Inc. and The University of British Columbia. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Production Services Agreement made March&nbsp;18, 2003 between the
company and Molecular Medicine BioServices Inc. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Biological Materials Transfer Agreement made October&nbsp;21, 2003
between the company and National Institutes of Health. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Revised Stock Option Plan dated December&nbsp;16, 2003 filed as
Exhibit&nbsp;99.1 to the company&#146;s Form&nbsp;S-8 filed January&nbsp;29, 2004 and incorporated
herein by reference. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jefferies &#038; 442668 B.C. Ltd. Consulting Agreement made February
1, 2005 between the company, Wilfred Jefferies and 442668 B.C. Ltd.
<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Handford Consulting Agreement made February&nbsp;1, 2005 between the
company and Ronald Handford. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Farrauto Consulting Agreement made effective May&nbsp;19, 2004
between the company and Sail View Capital Ltd. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">31.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Executive Officer Pursuant to Rule
13a-14(a) or 15d-14(a) (Section&nbsp;302 of the Sarbanes-Oxley Act of 2002).
<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">31.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Financial Officer Pursuant to Rule
13a-14(a) or 15d-14(a) (Section&nbsp;302 of the Sarbanes-Oxley Act of 2002).
<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">32.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Executive Officer under Section&nbsp;1350 as
adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">32.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Financial Officer under Section&nbsp;1350 as
adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Charter of Audit Committee of GeneMax Corp.dated February&nbsp;13,
2004, filed as Exhibit&nbsp;99.1 to the company&#146;s Form&nbsp;10-KSB filed April&nbsp;14, 2004
and incorporated herein by reference.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>Reports on Form 8-K.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>None.</TD>
</TR>

</TABLE>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000" style="margin-left: 9%">
<DIV align="right">
<TABLE width="91%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Previously filed with the Commission as an exhibit to GeneMax&#146; 2004 Annual Report on
Form 10-KSB filed on April&nbsp;15, 2005.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed herewith.</TD>
</TR>

</TABLE>
</div>

<!-- link2 "ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="left" style="font-size: 10pt"><B>ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES</B>



<P align="left" style="font-size: 10pt"><B>Audit Fees</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The company&#146;s principal outside accountant who serves as the company&#146;s auditor is Dale
Matheson Carr-Hilton LaBonte. The aggregate fees billed by Dale Matheson Carr-Hilton LaBonte for
each of the last two fiscal years for professional services rendered are as follows:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Audit-Related</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Audit Fees</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Fees</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Tax Fees</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">All Other Fees</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2004</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2003</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">15,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The company&#146;s audit committee is responsible for the appointment, compensation, retention and
oversight of the work of the registered public accounting firm (including resolution of
disagreements between management and the independent auditor regarding financial reporting) for the
purpose of preparing or issuing an audit report or performing other audit, review or attest
services for the company. The audit committee pre-approves all permissible non-audit services and
all audit, review or attest engagements required under the securities laws (including the fees and
terms thereof) to be performed for the company by its registered public accounting firm, provided,
however, that de-minimus non-audit services may instead be approved in accordance with applicable
SEC rules.



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="left" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">GENEMAX CORP.<BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: April 29, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&#147;Konstantine Sarafis&#148;</I>
&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Konstantine Sarafis, President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the Exchange Act, this report has been signed below by the following
persons on behalf of the registrant and in the capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: April&nbsp;29, 2005
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Konstantine Sarafis&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Konstantine Sarafis, President and Chief Executive Officer</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: April&nbsp;29, 2005
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Edward Farrauto&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Edward Farrauto, Chief Financial Officer/Treasurer</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: April&nbsp;29, 2005
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Dr.&nbsp;Wilfred Jefferies&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dr. Wilfred Jefferies, Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: April&nbsp;29, 2005
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Dr.&nbsp;Karl Erik Hellstrom&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dr. Karl Erik Hellstrom, Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: April&nbsp;29, 2005
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Dr.&nbsp;Glynn Wilson&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dr. Glynn Wilson, Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="left" style="font-size: 10pt"><B>EXHIBIT INDEX</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>Index to and Description of Exhibits</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">Description of Exhibit</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i) Amended and Restated Articles of the company dated May&nbsp;19,
1999 filed as Exhibit&nbsp;2.1 to the company&#146;s Form&nbsp;10-SB filed September&nbsp;3, 1999
and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii) Amended and Restated Bylaws of the company dated May&nbsp;10,
2004 filed as Exhibit&nbsp;3.1 to the company&#146;s Form&nbsp;10-QSB filed May&nbsp;20, 2004 and
incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Option Agreement made September&nbsp;14, 1999 between GeneMax
Pharmaceuticals Inc. and The University of British Columbia. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">License Agreement made March&nbsp;6, 2000 between GeneMax
Pharmaceuticals Inc., The University of British Columbia and Dr.&nbsp;Wilfred
Jefferies. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Collaborative Research Agreement made September&nbsp;1, 2000 between
GeneMax Pharmaceuticals Canada Inc., GeneMax Pharmaceuticals Inc. and the
University of British Columbia. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Non-Disclosure Agreement made October&nbsp;3, 2002 between GeneMax
Pharmaceuticals Inc. and The University of British Columbia. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Production Services Agreement made March&nbsp;18, 2003 between the
company and Molecular Medicine BioServices Inc. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Biological Materials Transfer Agreement made October&nbsp;21, 2003
between the company and National Institutes of Health. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Revised Stock Option Plan dated December&nbsp;16, 2003 filed as
Exhibit&nbsp;99.1 to the company&#146;s Form&nbsp;S-8 filed January&nbsp;29, 2004 and incorporated
herein by reference. <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jefferies &#038; 442668 B.C. Ltd. Consulting Agreement made February
1, 2005 between the company, Wilfred Jefferies and 442668 B.C. Ltd.
<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Handford Consulting Agreement made February&nbsp;1, 2005 between the
company and Ronald Handford. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Farrauto Consulting Agreement made effective May&nbsp;19, 2004
between the company and Sail View Capital Ltd. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">31.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Executive Officer Pursuant to Rule
13a-14(a) or 15d-14(a) (Section&nbsp;302 of the Sarbanes-Oxley Act of 2002).
<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">31.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Financial Officer Pursuant to Rule
13a-14(a) or 15d-14(a) (Section&nbsp;302 of the Sarbanes-Oxley Act of 2002).
<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">32.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Executive Officer under Section&nbsp;1350 as
adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">32.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certification of Chief Financial Officer under Section&nbsp;1350 as
adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act. <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Charter of Audit Committee of GeneMax Corp.dated February&nbsp;13,
2004, filed as Exhibit&nbsp;99.1 to the company&#146;s Form&nbsp;10-KSB filed April&nbsp;14, 2004
and incorporated herein by reference.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<HR size="1" width="18%" align="left" noshade color="#000000" style="margin-left: 9%">
<DIV align="right">
<TABLE width="91%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Previously filed with the Commission as an exhibit to GeneMax&#146; 2004 Annual Report on
Form 10-KSB filed on April&nbsp;15, 2005.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed herewith.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>2
<FILENAME>d24836a1exv10w8.htm
<DESCRIPTION>JEFFERIES AND 442668 B. C. LTD. CONSULTING AGREEMENT
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<P align="right" style="font-size: 10pt"><B>EXHIBIT 10.8</B>



<P align="center" style="font-size: 10pt"><B>CONSULTING AGREEMENT</B>



<P align="left" style="font-size: 10pt">THIS AGREEMENT, dated for reference the 1st day of February, 2005



<P align="left" style="font-size: 10pt">AMONG:



<P align="left" style="margin-left:6%; font-size: 10pt"><B>GENEMAX CORP.</B>, a Nevada company having an office at Suite&nbsp;400 &#151; 1681
Chestnut Street, Vancouver, British Columbia, V6J 4M6


<P align="right" style="font-size: 10pt">(the &#147;Company&#148;);



<P align="left" style="font-size: 10pt">AND:



<P align="left" style="margin-left:6%; font-size: 10pt"><B>442668 B.C. LTD.</B>, a company incorporated under the laws of the
Province of British Columbia, having its office at 12596 &#151; 23rd
Avenue, Surrey, British Columbia, V4A 2C4


<P align="right" style="font-size: 10pt">(the &#147;Consultant&#148;).



<P align="left" style="font-size: 10pt">AND:



<P align="left" style="margin-left:6%; font-size: 10pt"><B>WILFRED JEFFERIES</B>, of 12596 &#150; 23rd Avenue, Surrey, British Columbia
V4A 2C2


<P align="right" style="font-size: 10pt">(the &#147;Consultant Principal&#148;).



<P align="left" style="font-size: 10pt">WHEREAS:

<P align="left" style="font-size: 10pt">A. The Company is in the biotechnology business, specializing in the discovery and development of
immunotherapeutics and prophylactic vaccines;


<P align="left" style="font-size: 10pt">B. The Consultant currently provides scientific discovery and development services on a consulting
basis to the Company and otherwise provides the services of the Consultant Principal as the
Company&#146;s Chief Scientific Officer (&#147;CSO&#148;);


<P align="left" style="font-size: 10pt">C. The Company is implementing a reorganization plan and, accordingly, the Company and the
Consultant wish to set forth the terms upon which the Consultant will serve as CSO on a
going-forward basis;


<P align="left" style="font-size: 10pt">THEREFORE, in consideration of the mutual promises in this Agreement, the parties agree as follows:


<P align="left" style="font-size: 10pt"><B>1. ENGAGEMENT</B>


<P align="left" style="font-size: 10pt">1.1 The Company engages the Consultant to provide, and the Consultant agrees to provide to the
Company, from time to time, scientific discovery and development services. The Consultant agrees
that it shall, during the continuance of this Agreement and subject to clause 1.3, provide
sufficient time to the business and affairs of the Company for the performance of the services
hereunder. The Consultant will cause the Consultant Principal to be available for advice



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P align="center" style="font-size: 10pt">-2-


<P align="left" style="font-size: 10pt">and counsel to the management and the directors of the Company at such reasonable and convenient
times and places as may be mutually agreed upon.


<P align="left" style="font-size: 10pt">1.2 The Consultant covenants and agrees that the services to be provided hereunder will be provided
by the Consultant Principal on behalf of the Consultant unless otherwise agreed to in writing
between the Company and the Consultant Principal. The Consultant Principal shall be appointed as,
and exercise the duties and powers of, the office of CSO of the Company but shall not be an
employee of the Company.


<P align="left" style="font-size: 10pt">1.3 Notwithstanding section 1.1, the Company acknowledges that the Consultant Principal is employed
by the University of British Columbia in accordance with an agreement between the Consultant
Principal and the University of British Columbia (the &#147;UBC Agreement&#148;). If one or more provisions
or obligations of this Agreement is deemed to conflict with or otherwise breach a provision or
obligation set forth in the UBC Agreement, the parties agree that, to the extent possible, the
provision or obligation of this Agreement shall be modified so as to avoid any such conflict or
breach, and this Agreement will be deemed amended, and the parties agree to renegotiate such
provision or obligation in good faith, in order to maintain the economic position enjoyed by each
party as close as possible to that under the provision rendered unenforceable. In the event that
the provision or obligation cannot be modified as contemplated in this clause 1.3 or parties cannot
reach a mutually agreeable and enforceable replacement for such provision or obligation then, then
(i)&nbsp;such provision shall be excluded from this Agreement, (ii)&nbsp;the balance of this Agreement shall
be interpreted as if such provision were so excluded and (iii)&nbsp;the balance of this Agreement shall
be enforceable in accordance with its terms.


<P align="left" style="font-size: 10pt"><B>2. TERM AND TERMINATION</B>


<P align="left" style="font-size: 10pt">2.1 This Agreement will be for an initial term with effect from the date (the &#147;Commencement Date&#148;)
that is the first business day following the date of closing of a private placement offering (the
&#147;Offering&#148;) of securities of the Company raising gross proceeds of approximately US$1,000,000,
currently expected to complete in February, 2005, up to and including December&nbsp;31, 2007 (the
&#147;Term&#148;). This Agreement will be automatically renewed for successive one year periods unless
either the Company gives to the Consultant or the Consultant gives to the Company written notice of
the termination of this Agreement, not less than 6&nbsp;months prior to the expiry of the Term or any
subsequent renewal period of this Agreement.


<P align="left" style="font-size: 10pt">2.2 This Agreement may be terminated at any time by either party by the provision to the other of 6
months&#146; written notice of such termination. However, if this Agreement is terminated by the
Company without cause prior to the expiration of the Term, the Company shall pay to the Consultant
all fees that would be otherwise owing to the Consultant pursuant to either paragraph 3.1(a) or
3.2(a) herein, as applicable, until the later of March&nbsp;7, 2006 or 12&nbsp;months from the date of notice
of termination pursuant to this clause 2.2.


<P align="left" style="font-size: 10pt">If the Company terminates the services of the Consultant pursuant to this clause 2.2, stock options
held by the Consultant pursuant to this Agreement and the Company&#146;s stock option plan and not
previously exercised, if any, shall forthwith vest and become exercisable, and in the case of a
conflict between the terms of this Agreement and the Company&#146;s stock option plan, the terms of this
Agreement shall govern.



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P align="center" style="font-size: 10pt">-3-


<P align="left" style="font-size: 10pt">The Consultant agrees to accept the notice (or pay in lieu of notice), and exercisable stock
options as set out in this clause 2.2 in full and final settlement of all amounts owing to the
Consultant by the Company on termination, including any payment in lieu of notice of termination,
entitlement of the Consultant under any applicable statute and any rights which the Consultant may
have at common law, and the Consultant waives any claim to any other payment or benefits from the
Company.


<P align="left" style="font-size: 10pt">2.3 On termination or expiry of the term of this Agreement, the Consultant will return all property
of the Company then in its possession, including any office equipment, automobiles, correspondence,
documents, computer disks, notebooks, video and audio equipment and tapes, files and other tangible
property.


<P align="left" style="font-size: 10pt"><B>3. REMUNERATION AND REIMBURSEMENT</B>


<P align="left" style="font-size: 10pt">3.1 In consideration for the services to be provided to the Company by the Consultant under this
Agreement, the Company will:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>commencing on the Commencement Date, pay once monthly to the Consultant a base
fee in the amount of $10,000 plus GST (the &#147;Base Fee&#148;), on the fifth business day of
the month following the month in respect of which the payment is made;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>commencing twelve months after the Commencement Date, pay to the Consultant
once annually a bonus payment (&#147;Bonus&#148;) based on the achievement of performance
objectives, in an amount and form to be determined between the Consultant and the
compensation committee (&#147;Compensation Committee&#148;) comprised of the Company&#146;s board of
directors in whole or in part; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>grant to the Consultant, as soon as reasonably practicable following the
completion of the Offering, stock options to purchase 2,500,000 previously unissued
common shares in the capital of the Company, exercisable at such price determined in
accordance with and subject to the terms and conditions of the Company&#146;s stock option
plan; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>reimburse the Consultant for all out of pocket expenses reasonably, actually
and properly incurred by them in connection with the performance of the duties of the
Consultant under this Agreement.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD colspan="5" align="left" style="font-size: 10pt">3.2 As soon as reasonably practicable following the completion by the Company of a further private
placement offering of equity securities (the &#147;Second Offering&#148;) raising approximately US$2,000,000,
the Second Offering to be completed approximately fourth months after the completion of the
Offering, the Compensation Committee and the Consultant will negotiate in good faith the amount of
the Base Fee to be paid to the Consultant. In addition, the Consultant will be granted further
stock options to purchase an additional 2,000,000 previously unissued common shares in the capital
of the Company exercisable at such price determined in accordance with and subject to the terms and
conditions of the Company&#146;s stock option plan.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">

<TD colspan="5" align="left" style="font-size: 10pt">3.3 As soon as reasonably practicable
after the completion of the Offering, the Company will pay to
the Consultant a combination of a cash fee and previously unissued shares</TD>
</TR>

</TABLE>


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<P align="center" style="font-size: 10pt">-4-



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD colspan="5" align="left" style="font-size: 10pt">of the Company, as set forth in the attached &#147;Debt Settlement Schedule&#148;, in consideration for all
past services provided by the Consultant to the Company.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD colspan="5" align="left" style="font-size: 10pt">3.4 It is acknowledged and agreed that all references to the issuance of shares pursuant to this
Agreement, including through stock options and debt settlement, refer to pre-consolidation shares
in the capital of the Company.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD colspan="5" align="left" style="font-size: 10pt">3.5 The Consultant agrees that all stock options previously granted to the Consultant will be
cancelled pursuant to the Company&#146;s corporate reorganization plan.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>4.</B>&nbsp;&nbsp;</TD>
    <TD><B>DUTIES OF THE CONSULTANT</B></TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">During the term of this Agreement, the Consultant will, and will cause the Consultant Principal to:



<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>provide the services required under this Agreement honestly and diligently, and
will use its best efforts to serve the Company and promote its interests;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>obey and carry out all lawful and reasonable instructions, rules and policies,
orders and directions as given to it by the board of directors and the senior officers
of the Company; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>keep himself informed of and comply with all applicable laws and policies
relating to the provision of its services under this Agreement.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt"><B>5. CONFIDENTIAL INFORMATION</B>


<P align="left" style="font-size: 10pt">5.1 The Consultant and the Consultant Principal will not, directly or indirectly, use, disseminate,
disclose, communicate, divulge, reveal, publish, use for its own benefit, copy, make notes of,
input into a computer data base or preserve in any way any confidential information relating the
Company, whether during the term of this Agreement or thereafter, unless it first receives written
permission to do so from an authorized officer of the Company.


<P align="left" style="font-size: 10pt">5.2 For the purposes of this Agreement, &#147;confidential information&#148;, includes, but is not limited
to, information disclosed to or acquired by the Consultant relating to the business of the Company,
its projects or the personal affairs of the directors, officers and shareholders of the Company,
including information developed or gathered by the Consultant which has not been approved by the
Company for public dissemination, trade secrets, information relating to clients, customers, sales,
costs, products, services, business systems, research, strategies, markets, or plans belonging to
or developed by the Company or its subsidiaries, but does not include information in the public
domain, information released from the provisions of this Agreement by written authorization of an
authorized officer of the Company, information which is part of the general skill and knowledge of
the Consultant and does not relate specifically to the business of the Company, and information
which is authorized by the Company to be disclosed in the ordinary course or is required by law to
be disclosed.



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P align="left" style="font-size: 10pt"><B>6. NON-COMPETITION</B>


<P align="left" style="font-size: 10pt">The Consultant and the Consultant Principal will not, without the prior written consent of the
Company during this Agreement and during the two year period immediately following the termination
of this Agreement, within North America:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>undertake to perform on behalf of any other entity any service that would
conflict directly or indirectly with the Company&#146;s technologies or the performance of
the services being provided to the Company under this Agreement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>directly or indirectly engage in or become financially interested in any
business that will interfere or compete with the business of the Company;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>divert or attempt to divert any business of, or any customers of the Company or
of any employees, consultants or agents of the Company, to any other competitive
establishment, by direct or indirect inducement or otherwise;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>directly or indirectly impair or seek to impair the reputation of the Company,
or any relationships that the Company has with its employees, customers, suppliers,
agents or other parties with which the Company does business or has contractual
relations; or</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)&nbsp;&nbsp;</TD>
    <TD>directly or indirectly, in any way, solicit, hire or engage the services of any
employee or consultant of the Company, or persuade or attempt to persuade any such
individual to terminate his or her employment or consulting agreement with the Company.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt"><B>7. AMENDMENTS</B>


<P align="left" style="font-size: 10pt">No amendment, change, modification or addition to this Agreement will be valid unless made in
writing and executed by both parties to this Agreement.


<P align="left" style="font-size: 10pt"><B>8. NOTICE</B>


<P align="left" style="font-size: 10pt">8.1 Any notice under this Agreement will be given in writing and must be delivered, sent by telex,
telegram or telecopier or mailed by prepaid post and addressed to the party to which notice is to
be given at the address indicated above, or at another address designated by such party in writing.


<P align="left" style="font-size: 10pt">8.2 If notice is sent by telex, telegram or telecopier or is delivered, it will be deemed to have
been given at the time of transmission or delivery.


<P align="left" style="font-size: 10pt">8.3 If notice is mailed, it will be deemed to have been received 48 hours following the date of
mailing of the notice.


<P align="left" style="font-size: 10pt">8.4 If there is an interruption in normal mail service due to strike, labour unrest or other cause
at or prior to the time a notice is mailed the notice will be sent by telex, telegram or telecopier
or will be delivered.



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<P align="left" style="font-size: 10pt"><B>9. GOVERNING LAW</B>


<P align="left" style="font-size: 10pt">This Agreement is governed by the law of British Columbia and, except as otherwise provided in this
Agreement, the parties attorn to the exclusive jurisdiction of the courts of British Columbia for
the resolution of all disputes arising out of or in connection with this Agreement.


<P align="left" style="font-size: 10pt"><B>10. ASSIGNMENT</B>


<P align="left" style="font-size: 10pt">The rights which accrue to the Company under this Agreement shall pass to its successors or
assigns. The rights of the Consultant under this Agreement are not assignable or transferable in
any manner.


<P align="left" style="font-size: 10pt"><B>11. TIME OF ESSENCE</B>


<P align="left" style="font-size: 10pt">Time is of the essence of this Agreement.


<P align="left" style="font-size: 10pt"><B>12. EFFECTIVE DATE</B>


<P align="left" style="font-size: 10pt">Notwithstanding the date that this Agreement is executed and delivered by the parties, it will have
effect from the Commencement Date.


<P align="left" style="font-size: 10pt"><B>13. CURRENCY</B>


<P align="left" style="font-size: 10pt">All references to currency in this Agreement are references to lawful money of Canada, unless
otherwise stated.


<P align="left" style="font-size: 10pt"><B>14. PREVIOUS AGREEMENTS</B>


<P align="left" style="font-size: 10pt">14.1 The parties agree that this Agreement supersedes, terminates and cancels, without notice,
penalty or any liability to the Company for any payment whatsoever, any and all previous
agreements, representations or warranties, written or oral.



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<P align="left" style="font-size: 10pt">IN WITNESS of this Agreement, the parties have executed and delivered this Agreement as of the date
given above.



<P align="left" style="font-size: 10pt"><B>GENEMAX CORP.</B>

<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="40%">
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    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Per:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Ron Handford&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
</TR>
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</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><B>442668 B.C. LTD.</B>

<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="40%">
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<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Per:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Wilfred Jefferies</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
</TR>
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</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">Wilfred Jefferies hereby acknowledges the appointment of 442668 B.C. Ltd. under this Consulting
Agreement and executes this page below for the purpose only of confirming that he is bound by the
provisions of Section&nbsp;5 and Section&nbsp;6 of this Agreement.


<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
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<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIGNED, SEALED AND DELIVERED by
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consultant Principal in the
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">presence of:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>&#147;Ronald Handford</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>






    <TD align="center" valign="top"><I>&#147;Wilfred Jefferies&#148;</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade width="100%" align="center" color="#000000"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>WILFRED JEFFERIES</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Address
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">City
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Occupation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="center" style="font-size: 10pt"><B>442668 B.C. Ltd.<BR>
Debt Settlement Schedule</B>



<P align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px"><B>Amount owed to</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><B>442668 B.C. Ltd.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><B>Cash Settlement</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><B>Shares to be issued</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">Cdn. $113,025</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Nil</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="CENTER">452,100</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>3
<FILENAME>d24836a1exv10w9.htm
<DESCRIPTION>HANDFORD CONSULTING AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w9</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt"><B>EXHIBIT 10.9</B>



<P align="center" style="font-size: 10pt"><B>CONSULTING AGREEMENT</B>


<P align="left" style="font-size: 10pt">THIS AGREEMENT, dated for reference the 1st day of February, 2005


<P align="left" style="font-size: 10pt">BETWEEN:




<P align="left" style="margin-left:6%; font-size: 10pt"><B>GENEMAX CORP.</B>, a Nevada company having an office at Suite&nbsp;400 &#151; 1681
Chestnut Street, Vancouver, British Columbia, V6J 4M6


<P align="right" style="font-size: 10pt">(the &#147;Company&#148;);



<P align="left" style="font-size: 10pt">AND:



<P align="left" style="margin-left:6%; font-size: 10pt"><B>RONALD HANDFORD</B>, Businessman, 3432 West 13th Street, Vancouver,
British Columbia, V6R 2S1


<P align="right" style="font-size: 10pt">(the &#147;Consultant&#148;).



<P align="left" style="font-size: 10pt">WHEREAS:

<P align="left" style="font-size: 10pt">A. The Company is in the biotechnology business, specializing in the discovery and development of
immunotherapeutics;


<P align="left" style="font-size: 10pt">B. The Consultant will be resigning as the Company&#146;s Chief Executive Officer, however, the Company
wishes to engage the Consultant to provide transitional assistance on a consulting basis with the
Company, and the Consultant is prepared to provide consulting services to the Company on the terms
and conditions of this Agreement;


<P align="left" style="font-size: 10pt">THEREFORE, in consideration of the mutual promises in this Agreement, the parties agree as follows:


<P align="left" style="font-size: 10pt"><B>1. ENGAGEMENT</B>


<P align="left" style="font-size: 10pt">1.1 The Company engages the Consultant to provide, and the Consultant agrees to provide to the
Company, from time to time, advice and assistance with respect to:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>ongoing continuous reporting obligations;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>attending regular management meetings with senior management and key personnel
of the Company;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>providing corporate development and corporate finance assistance and advice in
all matters relating to the Company;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>assisting the Company in maintaining its relationship with its bankers and
facilitating new relationships with lenders;</TD>
</TR>

</TABLE>


<P>

<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P>

<P align="center" style="font-size: 10pt">-2-



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)&nbsp;&nbsp;</TD>
    <TD>providing assistance in seeking additional debt or equity financing for the
Company;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)&nbsp;&nbsp;</TD>
    <TD>providing market and business plan consultation;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)&nbsp;&nbsp;</TD>
    <TD>preparing business and updated progress reports; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)&nbsp;&nbsp;</TD>
    <TD>advising with regard to potential joint ventures, acquisitions, projects,
mergers, takeovers or other corporate reorganizations.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt"><B>2. TERM AND TERMINATION</B>


<P align="left" style="font-size: 10pt">2.1 This Agreement will be for an initial term of one month with effect from the date (the
&#147;Commencement Date&#148;) that is the first business day following the date of closing of a private
placement offering (the &#147;Offering&#148;) of securities of the Company raising gross proceeds of
approximately US$1,000,000, currently expected to complete in February&nbsp;2005. This Agreement will
be automatically renewed for successive one month periods unless either the Company gives to the
Consultant or the Consultant gives to the Company written notice of the termination of this
Agreement, not less than 30&nbsp;days prior to the expiry of the initial term or a subsequent term of
this Agreement.


<P align="left" style="font-size: 10pt">2.2 This Agreement may be terminated at any time by either party by the provision to the other of
30&nbsp;days written notice of such termination.


<P align="left" style="font-size: 10pt">2.3 On termination or expiry of the term of this Agreement, the Consultant will return all property
of the Company then in its possession, including any office equipment, automobiles, correspondence,
documents, computer disks, notebooks, video and audio equipment and tapes, files and other tangible
property.


<P align="left" style="font-size: 10pt"><B>3. REMUNERATION AND REIMBURSEMENT</B>


<P align="left" style="font-size: 10pt">3.1 In consideration for the services to be provided to the Company by the Consultant under this
Agreement, the Company will:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>commencing on the Commencement Date, pay to the Consultant the sum of $8,333.33
plus GST monthly on the fifth business day of the month following the month in respect
of which the payment is made;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>grant to the Consultant, as soon as reasonably practicable following the
completion of the Offering, stock options to purchase 400,000 previously unissued
common shares in the capital of the Company, exercisable at such price as determined in
accordance with and subject to the terms and conditions of the Company&#146;s stock option
plan; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>reimburse the Consultant for all out of pocket expenses reasonably, actually
and properly incurred by them in connection with the performance of the duties of the
Consultant under this Agreement.</TD>
</TR>

</TABLE>


<P>

<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P>

<P align="center" style="font-size: 10pt">-3-


<P align="left" style="font-size: 10pt">3.2 It is acknowledged and agreed that all references to the issuance of shares pursuant to this
Agreement, including through stock options and debt settlement, refer to pre-consolidation shares
in the capital of the Company.


<P align="left" style="font-size: 10pt">3.3 The Consultant agrees that all stock options previously granted to the Consultant will be
cancelled pursuant to the Company&#146;s corporate reorganization plan.


<P align="left" style="font-size: 10pt"><B>4. DUTIES OF THE CONSULTANT</B>


<P align="left" style="font-size: 10pt">During the term of this Agreement, the Consultant will:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>provide the services required under this Agreement honestly and diligently, and
will use its best efforts to serve the Company and promote its interests;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>obey and carry out all lawful and reasonable instructions, rules and policies,
orders and directions as given to it by the board of directors and the senior officers
of the Company; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>keep itself informed of and comply with all applicable laws and policies
relating to the provision of its services under this Agreement.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt"><B>5. CONFIDENTIAL INFORMATION</B>


<P align="left" style="font-size: 10pt">5.1 The Consultant will not, directly or indirectly, use, disseminate, disclose, communicate,
divulge, reveal, publish, use for its own benefit, copy, make notes of, input into a computer data
base or preserve in any way any confidential information relating the Company, whether during the
term of this Agreement or thereafter, unless it first receives written permission to do so from an
authorized officer of the Company.


<P align="left" style="font-size: 10pt">5.2 For the purposes of this Agreement, &#147;confidential information&#148;, includes, but is not limited
to, information disclosed to or acquired by the Consultant relating to the business of the Company,
its projects or the personal affairs of the directors, officers and shareholders of the Company,
including information developed or gathered by the Consultant which has not been approved by the
Company for public dissemination, trade secrets, information relating to clients, customers, sales,
costs, products, services, business systems, research, strategies, markets, or plans belonging to
or developed by the Company or its subsidiaries, but does not include information in the public
domain, information released from the provisions of this Agreement by written authorization of an
authorized officer of the Company, information which is part of the general skill and knowledge of
the Consultant and does not relate specifically to the business of the Company, and information
which is authorized by the Company to be disclosed in the ordinary course or is required by law to
be disclosed.


<P align="left" style="font-size: 10pt"><B>6. AMENDMENTS</B>


<P align="left" style="font-size: 10pt">No amendment, change, modification or addition to this Agreement will be valid unless made in
writing and executed by both parties to this Agreement.



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">-4-


<P align="left" style="font-size: 10pt"><B>7. NOTICE</B>


<P align="left" style="font-size: 10pt">7.1 Any notice under this Agreement will be given in writing and must be delivered, sent by telex,
telegram or telecopier or mailed by prepaid post and addressed to the party to which notice is to
be given at the address indicated above, or at another address designated by such party in writing.


<P align="left" style="font-size: 10pt">7.2 If notice is sent by telex, telegram or telecopier or is delivered, it will be deemed to have
been given at the time of transmission or delivery.


<P align="left" style="font-size: 10pt">7.3 If notice is mailed, it will be deemed to have been received 48 hours following the date of
mailing of the notice.


<P align="left" style="font-size: 10pt">7.4 If there is an interruption in normal mail service due to strike, labour unrest or other cause
at or prior to the time a notice is mailed the notice will be sent by telex, telegram or telecopier
or will be delivered.


<P align="left" style="font-size: 10pt"><B>8. GOVERNING LAW</B>


<P align="left" style="font-size: 10pt">This Agreement is governed by the law of British Columbia and, except as otherwise provided in this
Agreement, the parties attorn to the exclusive jurisdiction of the courts of British Columbia for
the resolution of all disputes arising out of or in connection with this Agreement.


<P align="left" style="font-size: 10pt"><B>9. ASSIGNMENT</B>


<P align="left" style="font-size: 10pt">The rights which accrue to the Company under this Agreement shall pass to its successors or
assigns. The rights of the Consultant under this Agreement are not assignable or transferable in
any manner.


<P align="left" style="font-size: 10pt"><B>10. TIME OF ESSENCE</B>


<P align="left" style="font-size: 10pt">Time is of the essence of this Agreement.


<P align="left" style="font-size: 10pt"><B>11. EFFECTIVE DATE</B>


<P align="left" style="font-size: 10pt">Notwithstanding the date that this Agreement is executed and delivered by the parties, it will have
effect from the Commencement Date.


<P align="left" style="font-size: 10pt"><B>12. CURRENCY</B>


<P align="left" style="font-size: 10pt">All references to currency in this Agreement are references to lawful money of Canada, unless
otherwise stated.



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">-5-


<P align="left" style="font-size: 10pt"><B>13. PREVIOUS AGREEMENTS</B>


<P align="left" style="font-size: 10pt">13.1 The parties agree that this Agreement supersedes, terminates and cancels, without notice,
penalty or any liability to the Company for any payment whatsoever, any and all previous
agreements, representations or warranties, written or oral, including the agreement (the
&#147;Management Agreement&#148;) between the Company and the Consultant dated August&nbsp;1, 1999, between the
parties relating to the services to be provided by the Consultant to this Agreement.


<P align="left" style="font-size: 10pt">13.2 As soon as reasonably practicable following the completion of the Offering, the Company will
pay to the Consultant as combination of a cash fee and previously unissued shares of the Company,
as set forth in the attached &#147;Debt Settlement Schedule&#148;, in consideration for all amounts owed to
the Consultant pursuant to the Management Agreement or for services otherwise previously rendered.


<P align="left" style="font-size: 10pt">IN WITNESS of this Agreement, the parties have executed and delivered this Agreement as of the date
given above.


<P align="left" style="font-size: 10pt"><B>GENEMAX CORP.</B>


<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="40%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Per:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Konstantine Sarafis&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SIGNED, SEALED AND DELIVERED by
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ronald Handford in the presence of:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>&#147;Konstantine Sarafis&#147;</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>&#147;Ronald Handford&#148;</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade width="100%" align="center" color="#000000"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>RONALD HANDFORD</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Address
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">City
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Occupation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="center" style="font-size: 10pt"><B>Ron Handford<BR>
Debt Settlement Schedule</B>



<P align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px"><B>Amount owed to</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><B>Handford Management Inc.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><B>Cash Settlement</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><B>Shares to be issued</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">Cdn. $107,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Cdn. $33,908</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Nil<BR></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>4
<FILENAME>d24836a1exv10w10.htm
<DESCRIPTION>FARRAUTO CONSULTING AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w10</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt"><B>EXHIBIT 10.10</B>



<P align="center" style="font-size: 10pt"><B>CONSULTING AND NON-COMPETITION AGREEMENT</B>



<P align="left" style="font-size: 10pt"><B>THIS AGREEMENT </B>made effective May&nbsp;19, 2004



<P align="left" style="font-size: 10pt"><B>BETWEEN:</B>




<P align="left" style="margin-left:6%; font-size: 10pt"><B>GENEMAX CORP. </B>a Nevada company with offices at Suite&nbsp;400, 1681
Chestnut Street, Vancouver, British Columbia V6J 4M6; (Telecopier:
604-608-3524)



<P align="left" style="margin-left:6%; font-size: 10pt">(the &#147;<B>Company</B>&#148;)


<P align="left" style="font-size: 10pt"><B>AND:</B>




<P align="left" style="margin-left:6%; font-size: 10pt"><B>No.&nbsp;348 SAIL VIEW VENTURES LTD.</B>, a company incorporated under the
laws of British Columbia, with business offices at 700-900 West
Hastings Street, Vancouver, British Columbia, V6C 1E5 (Telecopier:
604-687-3912)



<P align="left" style="margin-left:6%; font-size: 10pt">(the &#147;<B>Consultant</B>&#148;)

<P align="left" style="font-size: 10pt"><B>WHEREAS </B>the Company wishes to retain the Consultant, and the Consultant wishes to provide financial
accounting services to the Company and to provide Edward C. Farrauto to act as the Company&#146;s Chief
Financial Officer, Secretary and Treasurer;


<P align="left" style="font-size: 10pt"><B>NOW THEREFORE </B>the parties agree as follows:


<P align="left" style="font-size: 10pt"><B>1. TERM</B>


<P align="left" style="font-size: 10pt">1.1 <B>Term for Services</B>. The term for the provision of services by the Consultant to the Company
will commence as of May&nbsp;21, 2004 and will continue for one year (the &#147;<B>Term</B>&#148;). The Term may be
extended upon the mutual agreement of the parties. This Agreement will continue in full force and
effect during the Term unless earlier terminated in accordance with section 5.


<P align="left" style="font-size: 10pt"><B>2. COMPENSATION</B>


<P align="left" style="font-size: 10pt">2.1 For services rendered by the Consultant pursuant to this Agreement, the Company will pay the
Consultant a monthly fee of Cdn. $5,000 plus GST.


<P align="left" style="font-size: 10pt">2.2 The Company will also grant to the Consultant 100,000 common share options (the &#147;<B>Options</B>&#148;)
exercisable at US $0.70 per share for a period which ends on the earlier of the fifth anniversary
hereof and 90&nbsp;days after the Consultant ceases to provide services to the Company under this
Agreement or any other consulting agreement entered into between the Company and the Consultant
which supercedes this Agreement. The Options will be issued to



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">-2-


<P align="left" style="font-size: 10pt">the Consultant further to the Company&#146;s stock option plan and will vest to the benefit of the
Consultant as follows:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>50% on June&nbsp;30, 2004; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>the balance upon the earlier of six months from the date hereof and the date
the Company completes an equity financing in an amount of approximately US $5,000,000.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt"><B>3. DUTIES</B>


<P align="left" style="font-size: 10pt">3.1 <B>Primary Duties. </B>The Consultant will provide accounting services including assistance with
book-keeping, preparation of quarterly reports and draft annual financials and auditor liaison
services and other duties and assignments as may be from time to time determined by the board of
directors of the Company.


<P align="left" style="font-size: 10pt">3.2 <B>Chief Financial Officer. </B>The Consultant will provide Edward C. Farrauto to serve as the
Company&#146;s Chief Financial Officer, Secretary and Treasurer.


<P align="left" style="font-size: 10pt">3.3 <B>Expenses</B>. The Company will reimburse reasonable out-of-pocket business expenses incurred by
the Consultant on behalf of the Company to the Consultant.


<P align="left" style="font-size: 10pt"><B>4. PART TIME SERVICES</B>


<P align="left" style="font-size: 10pt">4.1 The Consultant will devote regular part-time attention, energies and efforts to the Company as
may be reasonably required and may engage in other business activities as long as they do not
unreasonably interfere with the duties of the Consultant hereunder.


<P align="left" style="font-size: 10pt"><B>5. TERMINATION</B>


<P align="left" style="font-size: 10pt">5.1 <B>Termination With Cause</B>. The Company may, at any time, without advance notice to the Consultant
or payment of any compensation in lieu of notice, terminate the services of the Consultant for
cause. The term &#147;cause&#148; means (i)&nbsp;a persistent breach of this Agreement by the Consultant and the
Consultant fails to cure the breach within thirty days following written notice by the Company; or
(ii)&nbsp;the existence of factors such as malfeasance or gross negligence entitling the Company to
terminate the Consultant at common law.


<P align="left" style="font-size: 10pt">5.2 <B>Termination Without Cause</B>. The Company may at any time, upon 30&nbsp;days&#146; advance notice to the
Consultant at its discretion, terminate the services of the Consultant. In the case of termination
other than for cause, all unvested options will immediately vest and the Company will pay the
Consultant an amount equal to two months aggregate compensation hereunder. This Agreement will
terminate upon the death or disability (incapacity for not less than 90&nbsp;days) of Edward C.
Farrauto, which termination will be deemed to be &#147;other than for cause&#148;.


<P align="left" style="font-size: 10pt">5.3 <B>Termination by the Consultant</B>. The Consultant may terminate the provision of its services
under this Agreement on not less than 30&nbsp;days&#146; notice to the Company, in which case



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">-3-


<P align="left" style="font-size: 10pt">the obligations of the Company will be the same as though the services were terminated for cause.


<P align="left" style="font-size: 10pt">5.4 <B>Other Claims</B>. The Consultant acknowledges and agrees that the notice and provisions for
compensation on termination provided in this section are fair and reasonable and agrees that upon
any termination of the Consultant&#146;s services by the Company, or upon any termination of this
Agreement by the Consultant, the Consultant will have no action, cause of action, claim or demand
against the Company or any other person as a consequence of such termination.


<P align="left" style="font-size: 10pt">5.5 <B>Resignation</B>. On termination hereof, the Consultant will cause Edward C. Farrauto to resign
from any office or directorship of the Company and any affiliate forthwith.


<P align="left" style="font-size: 10pt"><B>6. CONFIDENTIAL INFORMATION AND WORK PRODUCT</B>


<P align="left" style="font-size: 10pt">6.1 The Consultant will not, during the Term or at any time after the termination of its services
by the Company, use for itself or others, divulge or convey to others, or aid or abet others to
divulge or convey to others, any information, knowledge, data or property relating to the business
of the Company, or any of their affiliates, including information relating to employees, customers
or suppliers, and intellectual property in any way obtained by him during his association with the
Company or in any way obtained by other employees of the Company, unless (i)&nbsp;such information,
knowledge, data or property is properly in the public domain other than through a breach of this
Agreement; (ii)&nbsp;the Consultant has received prior authorization by the Company or such use
divulgence or conveyance is reasonably necessary in the course of the Consultant&#146;s duties; or (iii)
required by law. All intellectual property and work product conceived or developed by the
Consultant during the term hereof enures to the Company absolutely.


<P align="left" style="font-size: 10pt">6.2 Notwithstanding anything else in this Agreement, it is expressly acknowledged and understood by
the Consultant that all of the work product of the Consultant while employed by the Company (both
before and after the date of this Agreement) shall belong to the Company absolutely and
notwithstanding the generality of the foregoing, all patents, inventions, improvements, notes,
documents, correspondence produced by the Consultant during the term of employment hereunder shall
be the exclusive property of the Company. The Consultant further agrees to execute without delay
or request for further consideration any necessary patent assignments, conveyance or other
documents and assurances as may be necessary to transfer all rights to same to the Company. In the
event of the termination of the Consultant for any reason hereunder, the Consultant shall promptly
turn over to the Company all of the foregoing intellectual property which is evidenced by any
physical documentation (whether written, digital, magnetic, electronic or otherwise) or any other
of the Company&#146;s assets or property in his possession or under his control.


<P align="left" style="font-size: 10pt"><B>7. SURVIVAL OF COVENANTS</B>


<P align="left" style="font-size: 10pt">7.1 Except as otherwise specifically provided herein and notwithstanding the termination of the
services of the Consultant or termination of this Agreement, the covenants, representations and
warranties contained in sections 6 and 8 hereof will survive such termination



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">-4-


<P align="left" style="font-size: 10pt">and will continue in force and effect for the benefit of the Company for a time period unlimited in
duration.


<P align="left" style="font-size: 10pt"><B>8. NON-COMPETITION COVENANTS</B>


<P align="left" style="font-size: 10pt">8.1 <B>Definitions</B>. In this section:




<P align="left" style="margin-left:6%; font-size: 10pt">&#147;<B>Business</B>&#148; means the business currently carried on by the Company and its affiliates
relating to the development of therapeutics aimed at the treatment and eradication of cancer
and other infectious diseases and autoimmune diseases;



<P align="left" style="margin-left:6%; font-size: 10pt">&#147;<B>Competitive Business</B>&#148; means any business which is involved in the development of
therapeutics aimed at the treatment and eradication of cancer and other infectious diseases
and autoimmune diseases;



<P align="left" style="margin-left:6%; font-size: 10pt">&#147;<B>Restricted Area</B>&#148; means North America; and



<P align="left" style="margin-left:6%; font-size: 10pt">&#147;<B>Restricted Period</B>&#148; means five years from the date of termination of this Agreement whether
by expiry or voluntary or involuntary termination.

<P align="left" style="font-size: 10pt">8.2 <B>Non-Competition</B>. The Consultant will not, during the Restricted Period and within the
Restricted Area,



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>directly or indirectly carry on, engage in or participate in, any Competitive
Business either alone or in partnership or jointly or in conjunction with any other
person;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>directly or indirectly assist (as principal, beneficiary, director,
shareholder, partner, nominee, executor, trustee, agent, servant, employee, independent
contractor, supplier, consultant, lender, guarantor, financier or in any other capacity
whatever) any person to carry on, engage in or participate in, a Competitive Business;
and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>have any direct or indirect interest or concern (as principal, beneficiary,
director, shareholder, partner, nominee, executor, trustee, agent, servant, employee,
consultant, independent contractor, supplier, creditor or in any other capacity
whatever) in or with any person, if any part of the activities of such person consists
of carrying on, engaging in or participating in a Competitive Business except holding
securities of a public company constituting less than 10% of its outstanding share
capital.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">8.3 <B>Covenants Reasonable</B>. The Consultant agrees that,



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>the covenants in this Agreement are reasonable in the circumstances and are
necessary to protect the Company; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>the breach of any of the provisions of this Agreement would cause serious and
irreparable harm to the Company and its shareholders which could not adequately</TD>
</TR>

</TABLE>


<P>

<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P>

<P align="center" style="font-size: 10pt">-5-




<P align="left" style="margin-left:6%; font-size: 10pt">be compensated for in damages in the event of a breach by it of such provisions or
an order of injunction being issued against it restraining it from any further
breach of such provisions and agrees that such injunction may be issued against it
without the necessity of an undertaking as to damages by the Company or its
shareholders; the provisions of this section shall not be construed so as to be in
derogation of any other remedy which the Company may have in the event of such a
breach.

<P align="left" style="font-size: 10pt"><B>9. SUCCESSORS AND ASSIGNS</B>


<P align="left" style="font-size: 10pt">9.1 This Agreement will enure to the benefit of, and be binding upon, the parties hereto and their
legal representatives, successors and permitted assigns except that no claims may be asserted by
the legal representatives, successors and assignees of the Consultant in respect of compensation or
other benefits for periods following the death or total incapacity of the Consultant other than
those provided for in this Agreement.


<P align="left" style="font-size: 10pt"><B>10. NOTICES</B>


<P align="left" style="font-size: 10pt">10.1 Any notice required or permitted to be given under this Agreement will be deemed to have been
duly given only if such notice is in writing and is delivered or transmitted by fax at the
addresses or fax numbers above or such other address or fax number provided by one party to the
other from time to time.


<P align="left" style="font-size: 10pt"><B>11. GOVERNING LAW</B>


<P align="left" style="font-size: 10pt">11.1 This Agreement is and will be deemed to be made in British Columbia and for all purposes will
be governed exclusively by and construed and enforced in accordance with the laws prevailing in
British Columbia, and the rights and remedies of the parties will be determined in accordance with
those laws.


<P align="left" style="font-size: 10pt"><B>12. SEVERABILITY</B>


<P align="left" style="font-size: 10pt">12.1 If any provision of this Agreement is at any time unenforceable or invalid for any reason it
will be severable from the remainder of this Agreement and, in its application at that time, this
Agreement will be construed as though such provision was not contained herein and the remainder
will continue in full force and effect and be construed as if this Agreement had been executed
without the invalid or unenforceable provision.


<P align="left" style="font-size: 10pt"><B>13. INDEPENDENT LEGAL ADVICE</B>


<P align="left" style="font-size: 10pt">13.1 The parties hereto acknowledge that they have each received independent legal advice in
relation to the terms and conditions of this Agreement.

<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="center" style="font-size: 10pt">-6-


<P align="left" style="font-size: 10pt"><B>14. COUNTERPARTS</B>


<P align="left" style="font-size: 10pt">14.1 This Agreement may be executed in counterpart and by fax transmission.


<P align="left" style="font-size: 10pt"><B>IN WITNESS WHEREOF </B>the parties hereto have duly executed and delivered this Agreement as of the day
and year first above written.


<P align="left" style="font-size: 10pt"><B>GENEMAX CORP.</B>


<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="40%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Per:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Ronald Handford&#148;</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt"><B>NO. 348 SAIL VIEW VENTURES LTD.</B>


<DIV align="LEFT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="40%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Per:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#148;Edward Farrauto</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>5
<FILENAME>d24836a1exv31w1.htm
<DESCRIPTION>CERTIFICATION OF CEO PURSUANT TO RULE 13A-14(A) SECTION 302
<TEXT>
<HTML>
<HEAD>
<TITLE>exv31w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<P align="right" style="font-size: 10pt">Exhibit&nbsp;31.1



<P align="center" style="font-size: 10pt">CERTIFICATION


<P align="left" style="font-size: 10pt">I, Konstantine Sarafis, certify that:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>I have reviewed this annual report on Form 10-KSB/A of GeneMax Corp.;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading
with respect to the period covered by this report;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">3.&nbsp;&nbsp;</TD>
    <TD>Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small business issuer
as of, and for, the periods presented in this report;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">4.&nbsp;&nbsp;</TD>
    <TD>The small business issuer&#146;s other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in Exchange
Act Rules&nbsp;13a-15(e) and 15d-15(e)) for the small business issuer and have:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this report is being
prepared;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>evaluated the effectiveness of the small business issuer&#146;s
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the
end of the period covered by this report based on such evaluation; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>disclosed in this report any change in the small business
issuer&#146;s internal control over financial reporting that occurred during the
small business issuer&#146;s most recent fiscal quarter (the small business issuer&#146;s
fourth fiscal quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the small business
issuer&#146;s internal control over financial reporting; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">5.&nbsp;&nbsp;</TD>
    <TD>The small business issuer&#146;s other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to
the small business issuer&#146;s auditors and the audit committee of the small business
issuer&#146;s board of directors (or persons performing the equivalent functions):</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>all significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuer&#146;s ability to
record, process, summarize and report financial information; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>any fraud, whether or not material, that involves management or
other employees who have a significant role in the small business issuer&#146;s
internal control over financial reporting.</TD>
</TR>

</TABLE>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: April 29, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&#147;Konstantine Sarafis&#148;</I>
&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Konstantine Sarafis, President, Chief Executive Officer and Director&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>6
<FILENAME>d24836a1exv31w2.htm
<DESCRIPTION>CERTIFICATION OF CFO PURSUANT TO RULE 13A-14(A) SECTION 302
<TEXT>
<HTML>
<HEAD>
<TITLE>exv31w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;31.2



<P align="center" style="font-size: 10pt">CERTIFICATION


<P align="left" style="font-size: 10pt">I, Edward Farrauto, certify that:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>I have reviewed this annual report on Form 10-KSB/A of GeneMax Corp.;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading
with respect to the period covered by this report;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">3.&nbsp;&nbsp;</TD>
    <TD>Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small business issuer
as of, and for, the periods presented in this report;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">4.&nbsp;&nbsp;</TD>
    <TD>The small business issuer&#146;s other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in Exchange
Act Rules&nbsp;13a-15(e) and 15d-15(e)) for the small business issuer and have:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this report is being
prepared;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>evaluated the effectiveness of the small business issuer&#146;s
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the
end of the period covered by this report based on such evaluation; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>disclosed in this report any change in the small business
issuer&#146;s internal control over financial reporting that occurred during the
small business issuer&#146;s most recent fiscal quarter (the small business issuer&#146;s
fourth fiscal quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the small business
issuer&#146;s internal control over financial reporting; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">5.&nbsp;&nbsp;</TD>
    <TD>The small business issuer&#146;s other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to
the small business issuer&#146;s auditors and the audit committee of the small business
issuer&#146;s board of directors (or persons performing the equivalent functions):</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>all significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuer&#146;s ability to
record, process, summarize and report financial information; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>any fraud, whether or not material, that involves management or
other employees who have a significant role in the small business issuer&#146;s
internal control over financial reporting.</TD>
</TR>

</TABLE>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: April 29, 2005&nbsp;</TD>
    <TD valign="top">&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&#147;Edward Farrauto&#148;</I>
&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Edward Farrauto, Chief Financial Officer/Treasurer&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>7
<FILENAME>d24836a1exv32w1.htm
<DESCRIPTION>CERTIFICATION OF CEO UNDER SECTION 1350 PURSUANT TO SECTION 906
<TEXT>
<HTML>
<HEAD>
<TITLE>exv32w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;32.1



<P align="center" style="font-size: 10pt">CERTIFICATION<BR>
PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002<BR>
SUBSECTIONS (a)&nbsp;AND (b)&nbsp;OF SECTION 1350, CHAPTER 63 OF TITLE 18, UNITED STATES CODE



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the annual report of GeneMax Corp. (the &#147;company&#148;) on Form 10-KSB/A for
fiscal year ended December&nbsp;31, 2004, as filed with the Securities and Exchange Commission on the
date hereof (the &#147;Report&#148;), the undersigned certifies for the purpose of complying with Rule
13a-14(b) or Rule&nbsp;15d-14(b) of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) and Section
1350 of Chapter&nbsp;63 of Title 18 of the United States Code, that:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>the Report fully complies with the requirements of Section 13(a) or 15(d) of
the Exchange Act; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the company.</TD>
</TR>

</TABLE>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: April 29, 2005&nbsp;</TD>
    <TD valign="top">&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&#147;Konstantine Sarafis&#148;</I>
&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Konstantine Sarafis, President, Chief Executive Officer and Director&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>8
<FILENAME>d24836a1exv32w2.htm
<DESCRIPTION>CERTIFICATION OF CFO UNDER SECTION 1350 PURSUANT TO SECTION 906
<TEXT>
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;32.2



<P align="center" style="font-size: 10pt">CERTIFICATION<BR>
PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002<BR>
SUBSECTIONS (a)&nbsp;AND (b)&nbsp;OF SECTION 1350, CHAPTER 63 OF TITLE 18, UNITED STATES CODE



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the annual report of GeneMax Corp. (the &#147;company&#148;) on Form 10-KSB/A for
fiscal year ended December&nbsp;31, 2004, as filed with the Securities and Exchange Commission on the
date hereof (the &#147;Report&#148;), the undersigned certifies for the purpose of complying with Rule
13a-14(b) or Rule&nbsp;15d-14(b) of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) and Section
1350 of Chapter&nbsp;63 of Title 18 of the United States Code, that:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>the Report fully complies with the requirements of Section 13(a) or 15(d) of
the Exchange Act; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the company.</TD>
</TR>

</TABLE>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: April 29, 2005&nbsp;</TD>
    <TD valign="top">&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&#147;Edward Farrauto&#148;</I>
&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Edward Farrauto, Chief Financial Officer/Treasurer&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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