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<SEC-DOCUMENT>0001132072-09-000021.txt : 20090120
<SEC-HEADER>0001132072-09-000021.hdr.sgml : 20090119
<ACCEPTANCE-DATETIME>20090120171510
ACCESSION NUMBER:		0001132072-09-000021
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090114
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090120
DATE AS OF CHANGE:		20090120

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADEONA PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000894158
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133808303
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12584
		FILM NUMBER:		09534866

	BUSINESS ADDRESS:	
		STREET 1:		3985 RESEARCH PARK DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108
		BUSINESS PHONE:		734-332-7800

	MAIL ADDRESS:	
		STREET 1:		3985 RESEARCH PARK DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIPEX PHARMACEUTICALS, INC.
		DATE OF NAME CHANGE:	20061214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19970730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD MEDICAL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19940606
</SEC-HEADER>
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AND EXCHANGE COMMISSION</font></div>
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to Section 13 or 15(d)</font></div>
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Securities Exchange Act of 1934</font></div>
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2009</font></div>
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Agreement</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 14, 2009, Adeona Pharmaceuticals, Inc. and Accredited Venture Capital,
LLC, a 34% shareholder of the Company (&#8220;AVC&#8221;), entered into an agreement
pursuant to which:</font></div>
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      common stock of Company exercisable at $3.30 per share.&#160;&#160;This
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  4.7%.</font></div>
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      Company also agreed to register for resale the 7,086,379 shares of common
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Company is obligated, at its expense, to file the registration statement
contemplated by the agreement within 30 days of the date of the agreement, to
have such registration statement declared effective within 60 days of filing and
to maintain the effectiveness of such registration statement until such time as
the shares registered pursuant to such registration statement can be sold
publicly pursuant to an available exemption from registration.&#160;&#160;The
Company is obligated to list the shares being registered on any national
securities exchange on which a class of the Company&#8217;s equity securities is
listed.&#160;&#160;Finally, the Company is obligated to use its
best&#160;&#160;efforts to make and keep public information available as
contemplated by Rule 144 of&#160;&#160;under the Securities Act of 1933, as
amended.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Steve H.
Kanzer is the managing member of Pharmainvestors LLC, the managing member of
Accredited Venture Capital LLC.&#160;&#160;Mr. Kanzer currently serves as
Chairman of the Company.</font></div>
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agreement described above is filed as Exhibit 10.1 and is incorporated herein by
this reference.&#160;&#160;The preceding summary is not intended to be complete
and is qualified in its entirety by reference to such exhibit.</font></div>
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              <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Termination
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described in the response to Item 1.01 of this Current Report on Form 8-K, on
January 14, 2009, the Company and Accredited Venture Capital, LLC, a 34%
shareholder of the Company, entered into an agreement pursuant to which, among
other things,:</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AVC
      agreed to cancel warrants&#160;&#160;to purchase 1,213,626 shares of
      common stock of Company exercisable at $2.22 and 7,651 shares of common
      stock of Company exercisable at $3.30 per
share.</font></div>
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agreement described above is filed as Exhibit 10.1 and is incorporated herein by
this reference.&#160;&#160;The preceding summary is not intended to be complete
and is qualified in its entirety by reference to such exhibit.</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
Statements and Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.&#160;&#160;The
following exhibits are being furnished as part of this Report.</font></div>
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    <div>
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      </font></td>
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      dated January 14, 2009 between Accredited Venture Capital, LLC and Adeona
      Pharmaceuticals, Inc.</font></div>
            </td>
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            <td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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            <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
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      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td width="50%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td colspan="2" width="4%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;ADEONA
      PHARMACEUTICALS, INC.</font></td>
          </tr>
          <tr>
            <td width="50%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td colspan="2" width="4%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td width="50%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Date:&#160;&#160;January
      14, 2009&#160;</font></td>
            <td width="4%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;By:</font></td>
            <td width="46%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/ Nicholas
      Stergis</font></td>
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          <tr>
            <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td colspan="2" width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Name:&#160;&#160;Nicholas
      Stergis</font></td>
          </tr>
          <tr>
            <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td colspan="2" width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Its:&#160;
      Chief Executive Officer</font></td>
          </tr>
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    <div>&#160;</div><br>
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      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
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        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="TEXT-ALIGN: center" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
INDEX</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
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            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Number</font></font></div>
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            <td valign="top" width="65%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Description of Exhibit</font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
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            <td valign="top" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div>
            </td>
            <td valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Agreement
      dated January 14, 2009 between Accredited Venture Capital, LLC and Adeona
      Pharmaceuticals, Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>s22-8696_ex101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
  <head>
    <title>s22-8696_ex101.htm</title>
<!-- Licensed to: Starkey & Henricks-->
<!-- Document Created using EDGARizer 4.0.5.0 -->
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    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
10.1</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AGREEMENT
BY AND BETWEEN</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ACCREDITED
VENTURE CAPITAL, LLC AND</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ADEONA
PHARMACEUTICALS, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DATED
JANUARY 14, 2009</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Agreement dated, January 14, 2009, is made between Adeona Pharmaceuticals, Inc.,
A Delaware corporation (&#8220;Adeona&#8221;) and Accredited Venture Capital, LLC, a
Delaware limited liability company (&#8220;AVC&#8221;) (together, the
&#8220;Parties&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
AVC is the holder of warrants to purchase 832,606 shares of common shares of
Adeona exercisable at $2.22 per share which expire on October 29, 2011 and are
callable by Adeona provided that the common shares underlying such warrants are
covered by an effective resale registration statement (the &#8220;Callable
Warrants&#8221;);</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
AVC is the holder of warrants to purchase 381,020 shares of common stock of
Adeona exercisable at $2.22 per share which expire on November 27, 2016 and
warrants to purchase 7,651 shares of common stock of Adeona exercisable at $3.30
per share which expire on May 30, 2015, each of which by their terms are not
callable (together,&#160;&#160;the &#8220;Noncallable Warrants&#8221;);</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
AVC is the holder of 7,086.379 shares of common stock of Adeona (the &#8220;Common
Stock&#8221;);</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
in order to comply with the Rule 415 limitations raised in connection with the
Form SB-2 resale registration statement filed by Adeona on December 15, 2006,
and in order facilitate and expedite the effectiveness of such registration
statement, AVC agreed to temporarily suspended its right to include any of the
Common Stock, the shares underlying the Callable Warrants and the shares
underlying the Noncallable Warrants in such resale registration
statement;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
the Parties desire to reduce the number of shares of common stock of Adeona
issuable upon the exercise of outstanding securities and to cancel the Callable
Warrants and Noncallable Warrants held by AVC; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
Adeona is willing to agree to file and have declared effective a registration
statement covering the resale of Common Stock held by AVC.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOW
THEREFORE, the Parties hereby agree as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Callable Warrants held by AVC (exercisable for 832,606 shares of common
      stock of Adeona) are hereby
cancelled.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Noncallable Warrants held by AVC (exercisable for 388,671 shares of common
      stock of Adeona) are hereby
cancelled.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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        <div id="GLFTR" style="WIDTH: 100%" align="left">
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        </div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adeona
      hereby agrees to (i) effect the registration under the Securities Act of
      1933, as amended or any successor statute thereto, and the rules and
      regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;) promulgated
      from time to time thereunder, all as in effect at the time (the &#8220;1933
      Act&#8221;), of all of the Common Stock as soon as practicable and in any event
      within thirty (30) days of the date hereof, (ii) have the registration
      statement filed with the SEC to effectuate such registration declared
      effective within 60 days of filing, and (iii) maintain the effectiveness
      of such registration statement until such time as the Common Stock may be
      sold publically pursuant to an available exemption from registration (the
      &#8220;Effectiveness Period&#8221;) and, to the extent permissible, upon request of
      the holder cause to be removed any legend from certificates evidencing
      such shares.</font></div>
            </td>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      furtherance of its obligations under Section 3 <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font> shall,
      at its sole cost and expense:</font></div>
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    <div>
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            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">i.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
      Prepare and file with the SEC such amendments and supplements to such
      registration statement and the prospectus used in connection with such
      registration statement, and use its best efforts to cause each such
      amendment and supplement to become effective, as may be necessary to
      comply with the provisions of the 1933 Act with respect to the disposition
      of all securities covered by such registration statement during the
      Effectiveness Period; (b) notify AVC, at any time when a prospectus
      relating thereto covered by such registration statement is required to be
      delivered under the 1933 Act, of the happening of any event as a result of
      which the prospectus included in such registration statement, as then in
      effect, includes an untrue statement of a material fact or omits to state
      a material fact required to be stated therein or necessary to make the
      statements therein not misleading in the light of the circumstances then
      existing and promptly file such amendments and supplements as may be
      required on account of such event and use its best efforts to cause each
      such amendment and supplement to become effective; (c) furnish to AVC such
      number of copies of a prospectus, including a preliminary prospectus, in
      conformity with the requirements of the 1933 Act, and such other documents
      as they may reasonably request in order to facilitate the public sale or
      other disposition of Common Stock (d) use its best efforts to register or
      qualify the securities covered by such registration statement under such
      other securities or Blue Sky laws of such states and jurisdictions as
      shall be reasonably requested by AVC, except that <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font> shall
      not be required in connection therewith or as a condition thereto to
      qualify to do business, subject itself to taxation or file a general
      consent to service of process in any such state or
      jurisdiction;</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ii.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Apply
      for listing and use its best efforts to list the Common Stock being
      registered on any national securities exchange on which a class of <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font>&#8217;s
      equity securities is listed or, if <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font> does
      not then have a class of equity securities listed on a national securities
      exchange, apply for qualification and use its best efforts to qualify the
      Common Stock being registered for inclusion on the automated quotation
      system of the National Association of Securities Dealers,
      Inc.&#8217;</font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr valign="top">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Without
      in any way limiting the types of registrations to which this Section 1
      shall apply, in the event that <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font> shall
      effect a &#8220;shelf registration&#8221; under Rule 415 promulgated under the 1933
      Act, it shall take all necessary action, including, without limitation,
      the filing of post-effective amendments, to permit AVC to include the
      Common Stock in such registration in accordance with the terms of this
      Section 4;</font></div>
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            </td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Use
      its best efforts to make and keep public information available, as those
      terms are understood and defined in Rule 144 promulgated under the 1933
      Act (&#8220;Rule 144&#8221;), at all times after 90 days after the effective date of
      the first registration statement filed by <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font> for
      the offering of its securities to the general public and furnish to AVC,
      so long as AVC owns any Common Stock, forthwith upon request (1) a written
      statement by <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Adeona</font> as to
      its compliance with the reporting requirements of Rule 144, the 1933 Act
      and the 1934 Act, or as to its qualification as a registrant whose
      securities may be resold pursuant to Form
S-3.</font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      Agreement shall be binding upon and inure to the benefit of the personal
      representatives, successors and permitted assigns of the respective
      parties hereto. Adeona shall not have the right to assign its obligations
      hereunder or any interest herein without obtaining the prior written
      consent of AVC.</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">This Agreement shall
      be governed by </font>and construed in accordance with the laws of the
      state in which Adeona, or its successor, is
  incorporated.</font></div>
            </td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adeona
      recognizes, acknowledges and agrees that the rights of AVC under this
      Agreement are unique, and, accordingly, AVC shall, in addition to such
      other remedies as may be available to it at law or in equity, have the
      right to enforce the rights hereunder by actions for injunctive relief and
      specific performance to the extent permitted by law.&#160;&#160;This
      Agreement is not intended to limit or abridge any rights of AVC which may
      exist apart from this Agreement.</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      Agreement may be executed in one or more counterparts, each of which shall
      be deemed an original, but all of which together shall constitute one and
      the same agreement. Counterparts of this Agreement (or applicable
      signature pages hereof) that are manually signed and delivered by
      facsimile transmission shall be deemed to constitute signed original
      counterparts hereof and shall bind the parties signing and delivering in
      such manner</font></div>
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WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by
their respective duly authorized representatives as of the day and year written
above.</font></div>
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