ENTROPIN, INC. COMMON STOCK WARRANTCommon Stock Warrant • March 30th, 2004 • Entropin Inc • Medicinal chemicals & botanical products • Delaware
This certifies that Navidec Financial Services, Inc., a Colorado corporation (the “Holder”), for value received, is entitled to purchase from Entropin, Inc., a Delaware corporation (the “Company”), subject to the terms set forth below, up to 1,000,000 shares of the Company’s Common Stock, no par value (the “Warrant Shares”), at a price of $0.25 per share (the “Exercise Price”) at any time or from time to time up to and including 5:00 p.m. (Pacific Time) on January 1, 2009 (the “Expiration Date”) upon surrender to the Company at its principal office (or at such other location as the Company may advise the Holder in writing) of this Warrant properly endorsed with the Form of Subscription attached hereto duly completed and signed and upon payment of the aggregate Exercise Price for the number of shares for which this Warrant is being exercised determined in accordance with the provisions hereof. The number of Warrant Shares and the Exercise Price are subject to adjustment as provided in S
