Place: Westminster, CO
The Sum of $55,000.00 Date: September 21, 1999
FOR VALUE RECEIVED, Corgenix Medical Corporation (hereinafter, "CORGENIX" or the "Company")
promises to pay to the order of Transglobal Financial Corporation (hereinafter "TGF") at 1800 Century Park
East, Suite 600, Los Angeles, CA 90067 or at such other place as the holder of this Note may from time to time
designate, in lawful money of the United States of America, the principal sum of fifty five thousand and 00/100
dollars ($55,000.00). The following terms shall apply to this Note.
1. Repayment. Payment of principal and interest shall be made in twelve monthly installments with the first
payment to be made at the execution of the Note by both parties.
2. Interest Rate. Interest shall accrue on the principal balance at the rate of 10.25% (ten and one quarter percent)
per annum, computed on a daily basis.
3. Optional Prepayment. The Company may prepay this Note in whole or in part at any time or from time to time
without penalty or additional interest.
4. Event of Default. As used herein the term "Event of Default" shall mean
(a) a failure to make any payment of any amount required to be paid pursuant to this Note on the date such
payment is due under this Note; (b) failure of the Company after request by TGF to permit the inspection of the
Company's Records; (c) issuance of any injunction or of an attachment or judgment against any property of the
Company which is not discharged within thirty (30) days after issuance; (d) the insolvency of the Company, or
the filing of any bankruptcy, reorganization, debt arrangement or other proceeding or case against the Company
under any bankruptcy or insolvency law or commencement of any dissolution or liquidation proceeding against
the Company, any of which is either consented toor acquiesced in by the Company or remains undismissed for
sixty (60) days after the date of entry or the commencement by the Company of a voluntary case under the