Exhibit
4.5
Specimen Warrant
Certificate
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NUMBER
_________
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THIS WARRANT WILL BE VOID IF
NOT
EXERCISED PRIOR TO 5:00 P.M.
NEW YORK
CITY TIME,
,
2013
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WARRANTS
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DR. TATTOFF,
INC.
CUSIP
CLASS B
WARRANT
THIS CERTIFIES
THAT, for value received
is the
registered holder of a Warrant or Warrants expiring
,
2013 (the “Warrant”) to purchase one fully paid and
non-assessable share of Common Stock, par value $.0001 per share
(“Warrant Shares”), of Dr. Tattoff, Inc., a Florida
corporation (the “Company”), for each Warrant evidenced
by this Warrant Certificate. The Warrant entitles the holder
thereof to purchase from the Company, commencing on the date of
separation of the Warrant from the Unit as described in
Section 2.4 of the Warrant Agreement, dated _________, 2008
(“Warrant Agreement”), by and between the Company and
Interwest Transfer Company, Inc. (“Warrant Agent”) such
number of Warrant Shares of the Company at the price of
$
per share (subject to adjustment), upon surrender of this Warrant
Certificate and payment of the Warrant Price at the office or
agency of the Warrant Agent (such payment to be made in cash or by
good certified check or good bank draft made payable to the
Company), but only subject to the conditions set forth herein and
in the Warrant Agreement. Alternatively, and only in the event
there is no effective registration statement covering the resale of
the Warrant Shares, the holder may exercise this Warrant, in whole
or in part in a “cashless” or “net-issue”
exercise by delivering to the Warrant Agent and the Company’s
Chief Financial Officer at the principal offices of the Company, a
notice of exercise specifying the number of Warrant Shares to be
delivered to such Warrant holder (“Deliverable Shares”)
and the number of Warrant Shares with respect to which this Warrant
is being exercised (“Exercised Shares”). The number of
Deliverable Shares shall be calculated as follows:
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# of Deliverable Shares
= #
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of Exercised Shares x Fair Market
Value of Common Stock less Exercise Price
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Fair Market Value of Common
Stock
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“Fair
Market Value” at any date shall be deemed to be the average
of the daily Closing Prices for the twenty (20) consecutive Trading
Days immediately preceding such date for a share of Common Stock.
The “Closing Price” for each day shall be the last
reported sales price on that day or, in case no such reported sale
takes place on such day, the reported closing bid price, in either
case as reported in the principal consolidated transaction
reporting system for the principal United States national
securities exchange or if not so listed or admitted to trading, the
last quoted bid price or, if not quoted, the average of the high
bid and the low asked prices in an over-the-counter market as
reported by the Over-the-Counter Bulletin Board, Pink Sheets, LLC
or such other system then in use. If the Common Stock is not so
listed or traded, the “Closing Price” shall mean the
fair market value per share as mutually determined in good faith by
the Company and the holder. If the Company and the holder are
unable to agree upon the fair market value of the Common Stock
within ten (10) business days of the Company’s receipt of the
notice of exercise, the determination of the fair market value
shall be made by an independent public accounting firm with the
costs and fees of such accounting firm to be shared equally by the
Company and the holder. A “Trading Day” shall be any
day on which the principal national securities exchange,
over-the-counter market or other inter-dealer electronic quotation
system on which the Common Stock is admitted to trading or listed
is open or, if the Common Stock is not
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