Sanguine Corporation and Westbury Consultancy Services Ltd. Warrant Agreement Termination Letter

Summary

Sanguine Corporation and Westbury Consultancy Services Ltd. have agreed to terminate their Warrant Agreement, including its addendum and the related warrant for 12,000,000 shares of Sanguine's common stock. Sanguine releases Westbury from any further obligations under the agreement and requests the return of the original warrant document. Sanguine will also amend its registration statement to remove these shares. This letter formalizes the mutual cancellation of the agreement and related obligations.

EX-10.3 4 0004.txt SANGUINE CORPORATION 101 East Green Street, Suite 101 Pasadena, California 91105 March 1, 2001 Westbury Consultancy Services Ltd. 8 C Rue Champel Geneve, Suisse Attention: Dr. Luis Copellat Re: Letter of Westbury Consultancy Services Ltd. received February 27, 2001, respecting the cancellation of the Warrant Agreement, its Addendum and related Warrant dated March 20, 2000, respecting 12,000,000 shares of common stock underlying such Warrant of Sanguine Corporation ("Sanguine") Dear Dr. Copellat: Thank you for the above reference letter terminating our Warrant Agreement, as amended, and the Warrant. We are sorry that your services could not be provided to us. We hereby accept your letter, release you from any further obligations under the Warrant Agreement as amended, and have canceled the Warrant. We would appreciate your forwarding the originally signed Warrant dated March 20, 2000, for our records. We have engaged counsel to amend the SB-2 Registration Statement to remove these shares as "registered ." We hope you remaining investment in Sanguine is very beneficial to you. Thank you. Sincerely, Thomas C. Drees, Ph.D., President cc. Jennifer Arangio, Esq. Via Facsimile: 212 ###-###-####