EXHIBIT 14.1










                              CRDENTIA CORP.


                                 CODE OF

                       BUSINESS CONDUCT AND ETHICS



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                            TABLE OF CONTENTS


CRDENTIA CORP. CODE OF BUSINESS CONDUCT AND ETHICS	             2
POLICY STATEMENT	                                             2
APPROVALS AND WAIVERS	                                             3
CONFLICTS OF INTEREST	                                             3
BUSINESS RELATIONSHIPS	                                             3
FAIR COMPETITION	                                             4
GIFTS, GRATUITIES, ENTERTAINMENT AND OTHER CONSIDERATIONS            4
DOING BUSINESS INTERNATIONALLY	                                     4
GOVERNMENT CONTRACTING	                                             5
POLITICAL CONTRIBUTIONS AND LOBBYING	                             6
ACCURACY OF REPORTS, RECORDS AND ACCOUNTS	                     6
GOVERNMENT INVESTIGATIONS	                                     6
REGULATORY COMPLIANCE	                                             7
INSIDER TRADING; COMMUNICATIONS WITH THIRD PARTIES	             7
COMPLIANCE AND REPORTING	                                     8


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             CRDENTIA CORP. CODE OF BUSINESS CONDUCT AND ETHICS


POLICY STATEMENT

    It is the policy of Crdentia Corp. (the "Company"or "Crdentia") to
conduct its affairs in accordance with all applicable laws, rules and
regulations of the jurisdictions in which it does business.  This Code of
Business Conduct and Ethics ("Code") applies to the Company's employees,
officers and non-employee directors, including the Company's principal
executive officer, principal financial officer, principal accounting
officer or controller, and persons performing similar functions ("Designated
Executives").  This Code is the Company's "code of ethics" as defined in
Item 406 of Regulation S-K.  This Code is designed to promote:

    - honest and ethical conduct, including the ethical handling of actual
      or apparent conflicts of interest between personal and professional
      relationships;

    - full, fair, accurate, timely and understandable disclosure in the
      reports and documents the Company files with, or submits to, the
      Securities and Exchange Commission and in other public communications
      made by the Company;

    - compliance with applicable governmental laws, rules and regulations;

    - the prompt internal reporting to the appropriate person of violations
      of this Code; and

    - accountability for adherence to this Code.

    Crdentia has established standards for behavior that affects the Company,
and employees, officers and directors must comply with those standards.
The Company promotes ethical behavior and encourages employees to talk to
supervisors, managers, the Crdentia Compliance Team, or other appropriate
personnel when in doubt about the best course of action in a particular
situation.  Non-employee directors are encouraged to talk to the Company's
Chief Executive Officer, President or Chief Financial Officer in such
situations.  Anyone aware of a situation that he or she believes may
violate or lead to a violation of this Code should follow the guidelines
under "Compliance and Reporting" below.

    The Code covers a wide range of business practices and procedures.  It
does not cover every issue that may arise, but it sets out basic principles
to guide you.  Specific Company policies and procedures provide details
pertinent to many of the provisions of the Code.  Many of these policies
and procedures can be found at http://www.crdentia.com.  These policies and
procedures are not a part of the Code or incorporated herein.  Although
there can be no better course of action than to apply common sense and sound
judgment, do not hesitate to use the resources available whenever it is
necessary to seek clarification.

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APPROVALS AND WAIVERS

    Certain provisions of this Code require you to act, or refrain from
acting, unless prior approval is received from the appropriate person.
Employees requesting approval pursuant to this Code should request such
approval from the Company's Chief Executive Officer, President or Chief
Financial Officer.  Approvals relating to executive officers and directors
must be obtained from the Company's Board of Directors.  All other
approvals may be granted by the Company's Chief Executive Officer,
President or Chief Financial Officer or their designees.

    Other provisions of this Code require you to act, or refrain from
acting, in a particular manner and do not permit exceptions based on
obtaining an approval.  Waiver of those provisions relating to executive
officers and directors may only be granted by the Company's Board of
Directors and must be promptly disclosed to shareholders.  All other
waivers may be granted by the Company's Chief Executive Officer, President
or Chief Financial Officer or their designees.  Changes in this Code may
only be made by the Board of Directors and must be promptly disclosed to
shareholders.

CONFLICTS OF INTEREST

    A conflict of interest arises when your personal interests interfere
with your ability to act in the best interests of the Company.  Employees
must discharge their responsibilities on the basis of what is in the best
interest of the Company independent of personal consideration or
relationships.  Non-employee directors must discharge their fiduciary
duties as directors of the Company.

    Employees should disclose any potential conflicts of interest to the
Company's Chief Executive Officer, President or Chief Financial Officer or
their designees, who can advise the employee as to whether or not the
Company believes a conflict of interest exists.  An employee should also
disclose potential conflicts of interest involving the employee's spouse,
siblings, parents, in-laws, children and members of the employee's
household.  Non-employee directors may discuss any concerns with the
Company's Chief Executive Officer, President or Chief Financial Officer.

BUSINESS RELATIONSHIPS

    Crdentia seeks to outperform its competition fairly and honesty.  The
Company seeks competitive advantages through superior performance, not
unethical or illegal business practices.  Each employee must endeavor to
deal fairly with the Company's customers, suppliers, competitors and
employees and must not take advantage of them through manipulation,
concealment, abuse of privileged information, misrepresentation of material
facts, or any unfair-dealing practice.

    Our customers are of the utmost importance to us.  Crdentia employees
must always treat customers and potential customers according to the
highest standards of business conduct.

    Crdentia's suppliers - companies and individuals that sell products and
services to Crdentia - are important to our business.  Crdentia employees
should always treat suppliers and potential suppliers in accordance with
the highest standards of business conduct.

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FAIR COMPETITION

Fair competition laws, including the U.S. antitrust rules, limit what
Crdentia can do with another company and what Crdentia can do on its own.
Generally, the laws are designed to prohibit agreements or actions that
reduce competition and harm consumers.  You may not enter into agreements
or discussions with competitors that have the effect of fixing or
controlling prices, dividing and allocating markets or territories, or
boycotting suppliers or customers.  U.S. and foreign antitrust laws also
apply to imports and exports.

GIFTS, GRATUITIES, ENTERTAINMENT AND OTHER CONSIDERATIONS

    Use of Company funds or other Company property for illegal, unethical or
otherwise improper purposes is prohibited.  The purpose of business
entertainment and gifts in a commercial setting is to create goodwill and a
sound working relationship, not to gain personal advantage with customers
or suppliers.

    Loans

    Employees may not accept loans from any person or entities having or
seeking business with the Company.  Designated Executives and directors may
not receive loans from the Company, nor may the Company arrange for any
loan.

    Bribes and Kickbacks

    The use of Company funds, facilities or property for any illegal or
unethical purpose is strictly prohibited, provided, however, that certain
facilitating payments discussed in "Doing Business Internationally" may be
permitted.

    - You are not permitted to offer, give or cause others to give, any
      payments or anything of value for the purpose of influencing the
      recipient's business judgment or conduct in dealing with the Company
      other than facilitating payments.

    - You may not solicit or accept a kickback or bribe, in any form, for
      any reason.

DOING BUSINESS INTERNATIONALLY

    Crdentia is committed to the highest business conduct standards
wherever it operates.  Crdentia observes these standards worldwide, even at
the risk of losing business.  While no one can anticipate all the
situations that may present challenges to Crdentia employees doing business
in the worldwide marketplace, the following guidelines always apply:

    - Observe all laws and regulations, both U.S. and non-U.S., that apply
      to business abroad.

    - Paying bribes to government officials is absolutely prohibited, even
      if those bribes are common practice, except for facilitating payments.
      You may not give, promise to give or authorize the giving to a
      foreign official, a foreign political

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      party, or official thereof or any candidate for foreign political
      office any money or offer, gift, promise to give or authorize the
      giving of anything of value to influence any act or decision, to
      induce such official, party or candidate to do or omit to do any act
      in violation of the lawful duty of such official, party or candidate,
      or to induce such official, party or candidate to use his or her
      influence with a foreign government or agency to affect or influence
      any act or decision of such foreign government or agency.

    - Do not cooperate with illegal boycotts.

    - Observe all licensing requirements and the requirements of applicable
      import and export control laws.

    - Do not enter into an agreement with an agent or consultant that
      relates to Crdentia's business outside the United States unless it
      has been approved by the Company.

    The laws governing Crdentia's business in foreign countries are
extensive and complex, and may be different from those in the United States.

    Facilitating Payments to Low-Level Non-U.S. Governmental Employees and
Officials for Non-Discretionary Action

    Crdentia is committed to complying with the laws of the countries where
it operates.  In some countries, a very limited category of small payments
to facilitate or expedite routine nondiscretionary governmental actions may
be permitted as exceptions to antibribery laws, including the U.S. Foreign
Corrupt Practices Act ("FCPA").  The requirements pertaining to such
payments are complex.  Crdentia employees engaged in international business
activities must obtain prior approval of the Company's Chief Executive
Officer, President or Chief Financial Officer before making any such
payment.

    These "facilitating payments" to non-U.S. governmental officials are
distinguished from payments made to influence a discretionary decision or
to cause violation of, or an act in conflict with, the interests of an
individual's employer, which are strictly prohibited.

GOVERNMENT CONTRACTING

    Detailed laws and regulations govern virtually every aspect of doing
business with the U.S. government and its agencies.  Activities that might
be permitted when working with the private sector may be improper or even
illegal when a national or local government is the customer.

    Crdentia employees who deal with government representatives are
responsible for knowing and obeying the laws and regulations applicable to
doing business with the U.S. government.

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POLITICAL CONTRIBUTIONS AND LOBBYING

    No political contributions are to be made using Crdentia funds or
assets, or the funds or assets of any Crdentia subsidiary, to any political
party, political campaign, political candidate or public official in the
United States or any foreign country, unless the contribution is lawful and
expressly authorized.  In addition, you may not make a political
contribution on behalf of Crdentia or its subsidiaries, or with the
appearance that such contribution is being made on behalf of Crdentia or
its subsidiaries, unless expressly authorized.  A "contribution" is any
direct or indirect payment, distribution, loan, advance, deposit, or gift
of money, services or anything of value in connection with an election or
to an organization or group formed to support or defend a referendum or
ballot issue.

    Employees must obtain approval to hire outside counsel or a public
affairs firm to contact government officials regarding legislation,
regulatory policy, or rule making.  This includes grassroots lobbying
contacts.

ACCURACY OF REPORTS, RECORDS AND ACCOUNTS

    You are responsible for the accuracy of your records, time sheets and
reports.  Accurate information is essential to Crdentia's ability to meet
legal and regulatory obligations and to compete effectively.  The records
and books of account of Crdentia must meet the highest standards and
accurately reflect the true nature of the transactions they record.
Destruction of any records, books of account or other documents except in
accordance with Crdentia's document retention policy is strictly prohibited.

    You must not create false or misleading documents or accounting,
financial or electronic records for any purpose relating to Crdentia, and
no one may direct an employee to do so.  For example, expense reports must
accurately document expenses actually incurred in accordance with Crdentia
policies.  You must not obtain or create "false" invoices or other
misleading documentation or invent or use fictitious entities, sales,
purchases, services, loans or other financial arrangements for any purpose
relating to Crdentia.  Employees are also responsible for accurately
reporting time worked.

    No undisclosed or unrecorded account or fund may be established for any
purpose.  No false or misleading entries may be made in the Company's books
or records for any reason.  No disbursement of corporate funds or other
corporate property may be made without adequate supporting documentation or
for any purpose other than as described in the documents.  All employees
must comply with generally accepted accounting principles and the Company's
internal controls at all times.

GOVERNMENT INVESTIGATIONS

    You must promptly notify counsel of any government investigation or
inquiries from government agencies concerning Crdentia.  You may not
destroy any record, books of account, or other documents relating to
Crdentia except in accordance with the Company's document retention policy.
If you are aware of a government investigation or inquiry you may not
destroy any record, books of account, or other documents relating to
Crdentia unless advised by the

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Company's Chief Executive Officer, President or Chief Financial Officer or
their designees, that you may continue to follow the Company's normal
document retention policy.

    You must not obstruct the collection of information, data or records
relating to Crdentia.  The Company provides information to the government
that it is entitled to during an inspection, investigation, or request for
information.  You must not lie to government investigators or making
misleading statements in any investigation relating to Crdentia.  You must
not attempt to cause any employee to fail to provide accurate information
to government investigators.

REGULATORY COMPLIANCE

    The Company operates in a highly regulated environment.  The agencies
that regulate its business include the U.S. Department of Health and Human
Services, plus many other federal, state and local agencies.  The Company
and its employees must comply with the regulatory requirements of these
agencies.  Employees are expected to take an active role by being
knowledgeable about all applicable laws and regulations, attending
trainings and requesting information.  Employees are required to
immediately report regulatory violations, suspected regulatory violations,
or potentially harmful or dangerous conditions to a supervisor.


INSIDER TRADING; COMMUNICATIONS WITH THIRD PARTIES

    Employees, officers and directors who have access to the Company's
confidential information are not permitted to use or share that information
for stock trading purposes or for any other purpose except the conduct of
our business.

    Insider Trading

    Inside information is material information about a publicly traded
company that is not known by the public.  Information is deemed "material"
if it could affect the market price of a security or if a reasonable
investor would attach importance to the information in deciding whether to
buy, sell or hold a security.  Inside information typically relates to
financial conditions, such as progress toward achieving revenue and
earnings targets or projections of future earnings or losses of the Company.
Inside information also includes changes in strategy regarding a proposed
merger, acquisition or tender offer, new products or services, contract
awards and other similar information.  Inside information is not limited
to information about Crdentia.  It also includes material non-public
information about others, including the Company's customers, suppliers, and
competitors.

    Insider trading is prohibited by law.  It occurs when an individual
with material, non-public information trades securities or communicates
such information to others who trade.  The person who trades or "tips"
information violates the law if he or she has a duty or relationship of
trust and confidence not to use the information.

    Trading or helping others trade while aware of inside information has
serious legal consequences, even if the Insider does not receive any
personal financial benefit.  Insiders may also have an obligation to take
appropriate steps to prevent insider trading by others.

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    Confidential Information

    You must maintain the confidentiality of information entrusted to you
by the Company or its customers, except when disclosure is authorized or
legally mandated.  Confidential information includes all non-public
information, including information that might be of use to competitors or
harmful to the Company or its customers if disclosed.


COMPLIANCE AND REPORTING

    Compliance

    Any employee who violates the provisions of this Code will be subject
to disciplinary action, up to and including termination.  Willful disregard
of criminal statutes underlying this Code may require the Company to refer
such violation for criminal prosecution or civil action.

    Reporting Procedures and Other Inquiries

    Questions regarding the policies in this Code may be directed to
Crdentia's Compliance Team.  Managers and supervisors are also resources
who can provide timely advice and guidance to employees on ethics and
compliance concerns.  Any employee having knowledge of, or questions or
concerns about, an actual or possible violation of the provisions of this
Code is encouraged to promptly report the matter to his or her immediate
supervisor or to a member of the Compliance Team.  The names and contact
information for the members of the Compliance Team are set out below.
Directors are encouraged to discuss any issues or concerns with the
Company's Chief Executive Officer, President or Chief Financial Officer.

    If you have concerns relating to Crdentia's accounting, internal
controls or auditing matters, you may also confidentially, and anonymously
if you desire, submit the information in writing to the Company's Audit
Committee of the Directors [at                      .]
                               ---------------------

    When submitting concerns, you are asked to provide as much detailed
information as possible.  Providing detailed, rather than general,
information will assist us in effectively investigating complaints.  This
is particularly important when you submit a complaint on an anonymous basis,
since we will be unable to contact you with requests for additional
information or clarification.

    We are providing these anonymous reporting procedures so that you may
disclose genuine concerns without feeling threatened.  Employees who choose
to identify themselves when submitting a report may be contacted in order
to gain additional information.

    All conversations, calls and reports made under this policy in good
faith will be taken seriously.  Any allegations that are knowingly false or
 without a reasonable belief in the truth and accuracy of such information
will be viewed as a serious disciplinary offense.

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    Policy Prohibiting Unlawful Retaliation or Discrimination

    Neither the Company nor any of its employees may discharge, demote,
suspend, threaten, harass or in any manner discriminate against any
employee in the terms and conditions of employment based upon any lawful
actions of such employee who in good faith:

    - provides information or assists in an investigation relating
      regarding any conduct which the employee reasonably believes
      constitutes a violation of Fraud Laws (as defined below); or

    - files, testifies participates or otherwise assists in a proceeding
      that is filed or about to be filed (with any knowledge of the Company)
      relating to an alleged violation of a Fraud Law.

    This policy applies in any instance where such information or
assistance provided to, or the investigation is conducted by, a federal
regulatory or law enforcement agency, any member or committee of Congress,
or any person with supervisory authority over the employee or the authority
to investigate misconduct relating to potential securities violations by
the Company or its employees.  For purposes of this policy, a "Fraud Law"
is a violation of federal criminal law involving:

    - securities fraud, mail fraud, bank fraud or wire, radio or television
      fraud;

    - violations of SEC rules or regulations; or

    - violations of any federal law relating to fraud against shareholders.

    The Crdentia Compliance Team:

    James Durham, Chief Executive Officer

    Pamela Atherton, President

    William Leftwich, Chief Financial Officer

    This document is not an employment contract between Crdentia and its
employees, nor does it modify their employment relationship with the
Company.

    This Code is intended to clarify your existing obligation for proper
conduct.  The standards and the supporting policies and procedures may
change from time to time in the Company's discretion.  You are responsible
for knowing and complying with the current laws, regulations, standards,
policies and procedures that apply to the Company's work.  The most current
version of this document can be found at www.crdentia.com.

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                            ACKNOWLEDGEMENT

    I acknowledge that I have received and read a copy of the Crdentia Corp.
Code of Business Conduct and Ethics (the "Code").  I understand that I am
responsible for knowing and complying with the policies set forth in the
Code during my employment with the Company.

    I also acknowledge my responsibility to report any violation of this
Code to my supervisor or to a member of the Compliance Team.

    I further understand that the policies contained in the Code are not
intended to create any contractual rights or obligations, express or
implied.  I also understand that, consistent with applicable law, the
Company has the right to amend, interpret, modify or withdraw any of the
provisions of the Code at any time in its sole discretion, with or without
notice.

    I understand and agree that my relationship with the Company is "at-
will," which means that my employment is for no definite period and may be
terminated by me or by the Company at any time and for any reason, with or
without cause or advance notice.  I also understand that the Company may
demote or discipline me, or otherwise alter the terms of my employment, at
any time with or without cause or advance notice.

    Finally, I understand and agree that the terms of this Acknowledgement,
and my at-will relationship with the Company, may not be modified or
superseded except by a written agreement signed by an officer of the
Company; that no other employee or representative of the  Company has the
authority to enter into any such agreement; and that any agreement
inconsistent with this Acknowledgement or agreeing to employ me for a
specified term will be unenforceable unless in writing and signed by an
officer of the Company.

Employee Name:
              -------------------------------------------------------------
              (please print)

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         Signature	                                  Date

Title:  	                 Dept.:
      --------------------------        -----------------------------------

Please return this completed form to_______________________________ within
one week from the date of your review of these documents.  Thank you!

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