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   <TITLE>Form S-8 Final</TITLE>
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<B><U><FONT color="#0000ff" face="serif"><a href="#0">Table of Contents</a></FONT></U><FONT face="serif"> </FONT></B>
<P align="right"> <B><FONT face="serif">As filed with the Securities and Exchange Commission on May 17, 2006 </FONT></B></P>
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<P align="right"> <B><FONT face="serif">Registration No. 333- </FONT></B><FONT face="serif">______&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
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<B><FONT face="serif">UNITED STATES</FONT></B><FONT face="serif"> </FONT></P>
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<B><FONT face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B><FONT face="serif"> </FONT></P>
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<B><FONT face="serif">Washington, D.C. 20549 </FONT></B><FONT face="serif"> </FONT></P>
<P align="center">
<B><FONT face="serif">FORM S-8</FONT></B><FONT face="serif"> </FONT></P>
<P align="center">
<B><FONT face="serif">REGISTRATION STATEMENT</FONT></B><FONT face="serif"> </FONT></P>
<P align="center">
<B><I><FONT face="serif">UNDER </FONT></I></B><FONT face="serif"> </FONT></P>
<P align="center"> <B><I><FONT face="serif">THE SECURITIES ACT OF 1933 </FONT></I></B><FONT face="serif"> </FONT></P>
<P align="center"> <IMG src="alx1x2.jpg" width="126" height="23" border=0> </P>
<p align="center"> <FONT face="serif"><b>IMAGIN MOLECULAR CORPORATION</b> </FONT><br>
          <FONT face="serif">(Exact Name of Registrant as Specified in Its Charter) </FONT></p>
<p align="center"> <IMG src="alx1x4.jpg" width="125" height="24" border=0> </p>
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                    <TD nowrap colspan=1 align=center> <B><FONT face="serif">Delaware</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
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                                        <B><FONT face="serif">13-4099008</FONT></B>&nbsp; </center></TD>
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                    <TD nowrap colspan=1 align=center> <B><FONT face="serif">(State or Other Jurisdiction of</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=right> <center>
                                        <B><FONT face="serif">(I.R.S. Employer</FONT></B>&nbsp; </center></TD>
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                    <TD nowrap colspan=1 align=center> <B><FONT face="serif">Incorporation or Organization)</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=right> <center>
                                        <B><FONT face="serif">Identification No.)</FONT></B>&nbsp; </center></TD>
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<P align="center"> <B><FONT face="serif"><u>104 W. Chestnut Street, #315 Hinsdale, Illinois 60521<br>
          </u> </FONT></B><FONT face="serif">(Address of Principal Executive Offices, including Zip Code) </FONT></P>
<P align="center"> <IMG src="alx1x5.jpg" width="116" height="21" border=0> </P>
<P align="center"> <B><FONT face="serif"><u>2006 Stock Option Plan</u><br>
          </FONT></B><FONT face="serif">(Full Title of the Plan) </FONT></P>
<P align="center"> <IMG src="alx1x6.jpg" width="125" height="29" border=0> </P>
<P align="center"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="serif"><u>Corey Conn Chief, Executive Officer, 104 W. Chestnut Street,
          #315 Hinsdale, Illinois 60521 </u></FONT></B><br>
          <FONT face="serif">(Name, Address and Telephone Number of Agent For Service) </FONT></P>
<P align="center"> <IMG src="alx1x7.jpg" width="132" height="21" border=0> </P>
<P align="center"> <B><I><FONT face="serif">Copies to: </FONT></I></B><FONT face="serif"> </FONT></P>
<P align="center"> <B><FONT face="serif">Peter Campitiello, Esq. <br>
          Levy &amp; Boonshoft, P.C. </FONT></B><br>
          <B><FONT face="serif">477 Madison Avenue <br>
          New York, NY 10022 <br>
          (212) 751-1414</FONT></B><FONT face="serif"> </FONT></P>
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<p align="center" style="PAGE-BREAK-BEFORE:always">&nbsp; <B><FONT face="serif">CALCULATION OF REGISTRATION FEE </FONT></B><FONT face="serif">
          </FONT></P>
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	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD nowrap colspan=1 align=center>
<B><FONT face="serif">Amount</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
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<B><FONT face="serif">Proposed Maximum</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
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<B><FONT face="serif">Proposed Maximum</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
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<B><FONT face="serif">Title Of Each Class Of Securities to be</FONT></B>&nbsp;
	</TD>
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<B><FONT face="serif">to be</FONT></B>&nbsp;
	</TD>
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<B><FONT face="serif">Offering Price</FONT></B>&nbsp;
	</TD>
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<B><FONT face="serif">Aggregate</FONT></B>&nbsp;
	</TD>
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<B><FONT face="serif">Amount Of</FONT></B>&nbsp;
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<B><FONT face="serif">Registered</FONT></B>&nbsp;
	</TD>
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<B><FONT face="serif">Registered(1)</FONT></B>&nbsp;
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<B><FONT face="serif">Per Share</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD nowrap colspan=1 align=center>
<B><FONT face="serif">Offering Price</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
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<B><FONT face="serif">Registration Fee</FONT></B>&nbsp;
	</TD>
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<FONT face="serif">Common Stock, $0.01 par value</FONT>&nbsp;
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	</TD>
	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
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	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
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	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
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	</TD>
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<FONT face="serif">To be issued under the 2006 Stock</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
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	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD nowrap colspan=1 align=left>&nbsp;

	</TD>
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	<TD nowrap colspan=1 align=center>
<FONT face="serif">Option Plan</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
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<FONT face="serif">5,000,000(2)</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
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<FONT face="serif">$ 0.21(3)</FONT>&nbsp;
	</TD>
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<FONT face="serif">$ 1,050,000.00</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
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	          <TD nowrap colspan=1 align=center> <FONT face="serif">$ 112.35</FONT>&nbsp; </TD>
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                    <TD nowrap valign=top> <FONT face="serif">(1)</FONT>&nbsp; &nbsp; &nbsp; </TD>
                    <TD colspan=1> <FONT face="serif">This Registration Statement shall also cover any additional shares of Common Stock
                              which become issuable under the 2006 Stock Option Plan by reason of any stock dividend, stock split, recapitalization
                              or other similar transaction effected without the Registrant's receipt of consideration which results in
                              an increase in the number of the outstanding shares of Registrant's Common Stock.</FONT> </TD>
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                    <TD colspan=2>&nbsp;</TD>
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                    <TD nowrap valign=top> <FONT face="serif">(2)</FONT>&nbsp; &nbsp; &nbsp; </TD>
                    <TD colspan=1> <FONT face="serif">Represents shares automatically reserved for issuance under the 2006 Stock Option
                              Plan.</FONT> </TD>
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                    <TD colspan=2>&nbsp;</TD>
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                    <TD nowrap valign=top> <FONT face="serif">(3)</FONT>&nbsp; &nbsp; &nbsp; </TD>
                    <TD colspan=1> <FONT face="serif">Estimated solely for the purpose of calculating the registration fee in accordance
                              with Rules 457(c) and (h) promulgated under the Securities Act of 1933 and based upon the average of the
                              high and low sales prices of Imagin Molecular Corporation Common Stock reported on the Over the Counter
                              Bulletin Board on May 11, 2006.</FONT> </TD>
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                    <TD colspan=2>&nbsp;</TD>
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<A name="page_3"></A>

<P> <B><U><FONT color="#0000ff" face="serif"><a href="#0">Table of Contents</a></FONT></U><FONT face="serif"> </FONT></B></P>
<P align="center"> <B><FONT face="serif"><a name="0"></a>TABLE OF CONTENTS </FONT></B><FONT face="serif"> </FONT></P>
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                    <TD nowrap colspan=3 align=left> <a href="#info">PART I: INFORMATION</a><a href="#infopros"> REQUIRED IN THE SECTION
                              10(a) PROSPECTUS</a>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right>&nbsp;</TD>
                    <TD>&nbsp;</TD>
                    <TD nowrap colspan=1 align=left>&nbsp;</TD>
          </TR>
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                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 1.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp;<a href="#plan"><U><FONT color="#0000ff" face="serif">Plan Information</FONT></U></a>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 2.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp;<a href="#annualplan"><U><FONT color="#0000ff" face="serif">Registrant Information
                              and Employee Plan Annual Information</FONT></U>&nbsp;</a> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left>&nbsp;</TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left> <a href="#info">PART II: INFORMATION</a><a href="#info"> REQUIRED IN THE REGISTRATION
                              STATEMENT&nbsp;</a> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right>&nbsp;</TD>
                    <TD>&nbsp;</TD>
                    <TD nowrap colspan=1 align=left>&nbsp;</TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 3.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> <a href="#ref">&nbsp;<U><FONT color="#0000ff" face="serif">Incorporation of Documents
                              by Reference</FONT></U></a>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 4.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> <a href="#sic">&nbsp;<U><FONT color="#0000ff" face="serif">Description of Securities</FONT></U></a>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 5.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> <a href="#spurts">&nbsp;<U><FONT color="#0000ff" face="serif">Interests of Named
                              Experts and Counsel</FONT></U></a>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 6.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp;<U><FONT color="#0000ff" face="serif"><a href="#dough">Indemnification of Directors
                              and Officers</a></FONT></U>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 7.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> <a href="#notme">&nbsp;<U><FONT color="#0000ff" face="serif">Exemption from Registration
                              Claimed</FONT></U></a>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 8.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp;<a href="#x"><U><FONT color="#0000ff" face="serif">Exhibits</FONT></U></a>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=right> <FONT face="serif">Item 9.</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp;<a href="#spend"><U><FONT color="#0000ff" face="serif">Undertakings</FONT></U></a>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left>&nbsp;</TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left> <U><FONT color="#0000ff" face="serif"><a href="#sig">SIGNATURES</a></FONT></U>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left> <U><FONT color="#0000ff" face="serif"><a href="#exib">EXHIBIT INDEX</a></FONT></U>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left><FONT face="serif"><a href="#x4.htm">EXHIBIT 4</a></FONT></TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left> <FONT face="serif"><a href="x5.htm">EXHIBIT 5</a></FONT></TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left> <FONT face="serif"><a href="x23-1.htm">EXHIBIT 23.1</a></FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=3 align=left><FONT face="serif"><a href="x5.htm">EXHIBIT 23.2 (included in Exhibit 5)</a></FONT></TD>
          </TR>
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<p style="PAGE-BREAK-BEFORE:always">&nbsp;<A name="page_4"></A>
<P align="center">
<B><FONT face="serif">PART I </FONT></B></P>
<P align="center"> <B><FONT face="serif"><a name="infopros"></a>INFORMATION REQUIRED IN THE PROSPECTUS </FONT></B><FONT face="serif">
          </FONT></P>
<P> <B><FONT face="serif"><a name="plan"></a>Item 1. Plan Information.</FONT></B><FONT face="serif">*</FONT><B><FONT face="serif"> </FONT></B><FONT face="serif">
          </FONT></P>
<P> <B><FONT face="serif"><a name="annualplan"></a>Item 2. Registrant Information and Employee Program Annual Information.* </FONT></B><FONT face="serif">
          </FONT></P>
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<FONT face="serif">*</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD colspan=1>
<FONT face="serif">Information required by Part I to be contained in each Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933, as amended (the "Securities Act") and the
Note to Part I of Form S-8.</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center"> <B><FONT face="serif">PART II </FONT></B></P>
<P align="center"> <B><FONT face="serif"><a name="info"></a>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></B></P>
<P> <B><FONT face="serif"><a name="ref" id="ref"></a>Item 3. Incorporation of Documents by Reference. </FONT></B><FONT face="serif"> </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">The following documents previously filed by Imagin Molecular Corporation (the "Registrant") with the Securities and Exchange Commission (the "Commission") are hereby incorporated by reference in this
Registration Statement: (a) Registrant's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2005, filed with the Commission on April 17, 2006 pursuant to Section 13(a) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act").</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(b) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the latest fiscal year covered by the document referred to in (a) above, including Registrant's
Quarterly Reports on Form 10-QSB for the quarterly periods ended March 31, 2005, June 30, 2005 and September 30, 2005, filed with the Commission on May 23, 2005, August 22, 2005 and November 15, 2005 respectively.</FONT></P>
<P> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(c) The description of the Registrant's Common Stock contained in the Registrant's
          Definitive Information Statement, filed with the Commission on June 8, 2005 (File No. 000-23873) pursuant to Rule 14C of the
          Exchange Act, including any amendments or reports filed for the purpose of updating such description.</FONT></P>
<P> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">In addition, all documents subsequently filed by the Registrant pursuant to Sections
          13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities
          offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
          in this registration statement and to be a part hereof from the date of filing of such documents. Unless expressly incorporated
          into this Registration Statement, a report furnished on Form 8-K prior or subsequent to the date hereof shall not be incorporated
          by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated
          by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that
          a statement contained in any subsequently filed document which also is deemed to be incorporated by reference herein modifies
          or supersedes such statement.</FONT></P>
<P> <B><FONT face="serif"><a name="sic"></a>Item 4. Description of Securities. </FONT></B><FONT face="serif"> </FONT></P>
<P> <FONT face="serif">Not applicable.</FONT></P>
<P align="center"><font size="2" face="serif">2</font></P>

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<p style="PAGE-BREAK-BEFORE:always"> <A name="spurts" id="spurts"></A>
<P>
<B><FONT face="serif">Item 5. Interests of Named Experts and Counsel. </FONT></B><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">Not applicable.</FONT></P>
<P> <B><FONT face="serif"> <a name="dough"></a>Item 6. Indemnification of Directors and Officers.</FONT></B></P>
<P>
<FONT face="serif"> 	Pursuant to the Delaware General Corporation Law (the "DGCL"), Imagin's Articles of Incorporation exclude personal liability on the part of its directors to the Company for monetary damages based upon any violation of their
fiduciary duties as directors, provided the director acted in good faith, reasonably believed the conduct was in the best interests of the corporation and had no reason to believe the conduct was unlawful. Imagin's Articles of Incorporation and its
Bylaws require indemnification of directors and officers of the registrant to the fullest extent permitted by the DGCL for claims against them in their official capacities, including stockholders' derivative actions. </FONT></P>
<P>
<FONT face="serif"> 	Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, we have been advised
that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. </FONT></P>
<P> <B><FONT face="serif"><a name="notme"></a>Item 7. Exemption from Registration Claimed. </FONT></B><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">Not applicable.</FONT></P>
<P> <B><FONT face="serif"><a name="exib"></a>Item 8. Exhibits. </FONT></B><FONT face="serif"> </FONT></P>
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                    <TD colspan=1 rowspan="2" align=left valign="top" nowrap> <FONT face="serif">3.1</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif">Amended and Certificate of Incorporation of Imagin
                              Molecular Corporation (incorporated by</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif">reference as Exhibit A to the Registrant's Schedule
                              14C filed with the Commission on June 8,</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif">2005).</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD colspan=1 rowspan="2" align=left valign="top" nowrap> <FONT face="serif">3.2</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif">By-laws of Imagin Molecular Corporation (incorporated
                              by reference as Exhibit B to the</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif">Registrant's Schedule 14C filed with the Commission
                              on June 8, 2005).</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">4</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<a href="x4.htm"><FONT face="serif">2006 Stock Option Plan</FONT></a>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">5</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif"><a href="x5.htm">Opinion of Levy &amp; Boonshoft,
                              P.C.</a></FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">23.1</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<a href="x23-1.htm"><FONT face="serif">Consent of Independent Registered
                              Public Accounting Firm</FONT></a>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">23.2</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp;<FONT face="serif">Consent of Levy &amp; Boonshoft, P.C. (included in
                              Exhibit 5)</FONT>&nbsp; </TD>
          </TR>
</TABLE>
<BR>
<P> <B><FONT face="serif"><a name="spend"></a>Item 9. Undertakings. </FONT></B><FONT face="serif"> </FONT></P>
<TABLE width="950" border=0 cellpadding=0 cellspacing=1>
          <TR>
                    <TD width = 99%> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">(a) The undersigned Registrant hereby undertakes:</FONT>&nbsp;
                    </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">(1) To file, during any period in which offers or sales are being
                              made, a post-effective amendment to</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD colspan=1 align=left> <FONT face="serif">this Registration Statement:</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">(i) to include any prospectus
                              required by Section 10(a)(3) of the Securities Act;</FONT>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD colspan=1 align=left><FONT face="serif">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(ii) to reflect in the prospectus
                              any facts or events arising after the effective date of this</FONT>&nbsp; <FONT face="serif">Registration
                              Statement (or the most recent post-effective amendment hereof) which, individually or</FONT>&nbsp; <FONT face="serif">in
                              the aggregate, represent a fundamental change in the information set forth in this Registration</FONT>&nbsp;
                    </TD>
          </TR>
</TABLE>
<p>&nbsp;</p>
<p align="center"><font size="2">3</font> </p>
<HR noshade align="center" width="100%" size=2>
<A name="page_6"></A> <br>
<TABLE width="950" border=0 cellpadding=0 cellspacing=1>
          <TR>
                    <TD width = 99% align="left">
                              <p><FONT face="serif">Statement. Notwithstanding the foregoing, any increase or decrease in volume
                                        of securities offered (if the total dollar value of securities offered would not exceed that which
                                        was registered) and any deviation from the low or high end of the estimated maximum offering range
                                        may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if,
                                        in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum
                                        aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective
                                        Registration Statement; and (iii) to include any material information with respect to the plan
                                        of distribution not previously disclosed in this Registration Statement or any material change
                                        to such information in this Registration Statement; provided, however, that paragraphs (a)(1)(i)
                                        and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
                                        by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section
                                        13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration
                                        Statement.</FONT></p>
                              <P> <FONT face="serif">(2) That, for the purpose of determining any liability under the Securities Act,
                                        each such post-effective amendment shall be deemed to be a new registration statement relating
                                        to the securities offered therein, and the offering of such securities at that time shall be deemed
                                        to be the initial bona fide offering thereof.</FONT></P>
                              <P> <FONT face="serif">(3) To remove from registration by means of a post-effective amendment any of the
                                        securities being registered which remain unsold at the termination of the offering.</FONT></P>
                              <P> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(b) The undersigned Registrant hereby undertakes that,
                                        for purposes of determining any liability under the Securities Act, each filing of the Registrant's
                                        annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable,
                                        each filing of an employee benefit plan's annual report pursuant to Section15(d) of the Exchange
                                        Act) that is incorporated by reference into this Registration Statement shall be deemed to be
                                        a new registration statement relating to the securities offered therein, and the offering of such
                                        securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></P>
                              <P> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(c) Insofar as indemnification for liabilities arising
                                        under the Securities Act may be permitted to directors, officers and controlling persons of the
                                        Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised
                                        that in the opinion of the Securities and Exchange Commission such indemnification is against
                                        public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
                                        that a claim for indemnification against such liabilities (other than the payment by the Registrant
                                        of expenses incurred or paid by a director, officer or controlling person of the Registrant in
                                        the successful defense of any action, suit or proceeding) is asserted by such director, officer
                                        or controlling person in connection with the securities being registered, the Registrant will,
                                        unless in the opinion of its counsel the matter has been settled by controlling precedent, submit
                                        to a court of appropriate jurisdiction the question whether such indemnification by it is against
                                        public policy as expressed in the Securities Act and will be governed by the final adjudication
                                        of such issue.</FONT></P>

</TD>
          </TR>
</TABLE>
<P align="center"><font size="2">4</font> </P>
<hr noshade align="center" width="100%" size=2>
<p style="PAGE-BREAK-BEFORE:always">&nbsp;<A name="page_7"></A>
<P align="center"> <B><FONT face="serif"><a name="sig"></a>SIGNATURES</FONT></B><FONT face="serif"> </FONT></P>
<P> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies
          that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this
          Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Hinsdale, State
          of Illinois on the 12th day of May, 2006.</FONT><br>
</P>
<TABLE width="1010" border=0 cellpadding=0 cellspacing=1>
          <TR>
                    <TD width = 64%> </TD>
                    <TD width = 36%></TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left>&nbsp;</TD>
                    <TD colspan=1 align=left nowrap> <B><FONT face="serif">IMAGIN MOLECULAR CORPORATION</FONT></B>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan = 1>&nbsp;</TD>
                    <TD colspan = 1>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=center>&nbsp;</TD>
                    <TD colspan=1 align=center nowrap> <div align="left"><FONT face="serif">By: /s/ Corey Conn</FONT>&nbsp; </div></TD>
          </TR>
          <TR>
                    <TD colspan =1>&nbsp;</TD>
                    <TD colspan =1> <HR align="left" size=1 noshade> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=center>&nbsp;</TD>
                    <TD colspan=1 align=center nowrap><div align="left"><FONT face="serif">Corey Conn</FONT>&nbsp; </div></TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=center>&nbsp;</TD>
                    <TD colspan=1 align=center nowrap> <div align="left"><FONT face="serif">Chief Executive Officer</FONT>&nbsp; </div></TD>
          </TR>
</TABLE>
<p><BR>
</p>
<p align="center">5 </p>
<p></P>

<hr noshade align="center" width="100%" size=2>
<p style="PAGE-BREAK-BEFORE:always">&nbsp;<A name="page_8"></A>
<P align="center">
<B><FONT face="serif">POWER OF ATTORNEY </FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="serif">KNOW ALL PERSONS BY THESE PRESENTS</FONT></B><FONT face="serif"> that each of the undersigned officers and directors of Imagin Molecular Corporation, a Delaware corporation, constitutes and
appoints Corey Conn and Neil Sy, and each of them acting individually, his true and lawful attorneys-in-fact and agents with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same with all exhibits thereto and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
          <TR>
                    <TD width = 35%> </TD>
                    <TD width = 2%> </TD>
                    <TD width = 42%> </TD>
                    <TD width = 2%> </TD>
                    <TD width = 18%> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <B><FONT face="serif">Name</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=center> <B><FONT face="serif">Title</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=center> <B><FONT face="serif">Date</FONT></B>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan =1> <HR noshade size=1> </TD>
                    <TD> </TD>
                    <TD colspan =1> <HR noshade size=1> </TD>
                    <TD> </TD>
                    <TD colspan =1> <HR noshade size=1> </TD>
          </TR>
          <TR>
                    <TD colspan = 5>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD  colspan=1 align=left> <B><FONT face="serif">Principal Executive Officer:</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan = 5>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">/s/ Corey Conn</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Chief
                              Executive Officer, Director</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=right> <FONT face="serif">May 12, 2006</FONT>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan =1> <HR noshade size=1> </TD>
                    <TD> </TD>
                    <TD colspan =1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<FONT face="serif">(principal
                              executive officer)</FONT>&nbsp; </TD>
                    <TD> </TD>
                    <TD colspan =1> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">Corey Conn</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan = 5>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD  colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD  colspan=1 align=left> <B><FONT face="serif">Principal Financial Officer And</FONT></B>&nbsp; <B><FONT face="serif">Principal
                              Accounting Officer:</FONT></B>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan = 5>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">/s/ Neil Sy</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Chief
                              Financial Officer, Chairman</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=right> <FONT face="serif">May 12, 2006</FONT>&nbsp; </TD>
          </TR>
          <TR>
                    <TD colspan =1> <HR noshade size=1> </TD>
                    <TD> </TD>
                    <TD colspan=1 align=left valign="bottom" nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">of
                              the Board</FONT>&nbsp; </TD>
                    <TD> </TD>
                    <TD colspan =1> </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left> <FONT face="serif">Neil Sy</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD colspan=1 align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">(principal
                              financial officer</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD colspan=1 align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">and
                              principal accounting officer)</FONT>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp;</TD>
                    <TD>&nbsp; </TD>
                    <TD nowrap colspan=1 align=left>&nbsp; </TD>
          </TR>
</TABLE>
<BR>
<P align="center">
<FONT face="serif">6</FONT><FONT face="serif"> </FONT></P>

<HR noshade align="center" width="100%" size=2>

</BODY>

</HTML>
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Form S-8 Final
Table of Contents
As filed with the Securities and Exchange Commission on May 17, 2006
Registration No. 333-
______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
IMAGIN MOLECULAR CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
13-4099008
(State or Other Jurisdiction of
(I.R.S. Employer
Incorporation or Organization)
Identification No.)
104 W. Chestnut Street, #315 Hinsdale, Illinois 60521
(Address of Principal Executive Offices, including Zip Code)
2006 Stock Option Plan
(Full Title of the Plan)
Corey Conn Chief, Executive Officer, 104 W. Chestnut Street,
          #315 Hinsdale, Illinois 60521
(Name, Address and Telephone Number of Agent For Service)
Copies to:
Peter Campitiello, Esq.
Levy & Boonshoft, P.C.
477 Madison Avenue
New York, NY 10022
(212) 751-1414
CALCULATION OF REGISTRATION FEE
Amount
Proposed Maximum
Proposed Maximum
Title Of Each Class Of Securities to be
to be
Offering Price
Aggregate
Amount Of
Registered
Registered(1)
Per Share
Offering Price
Registration Fee
Common Stock, $0.01 par value
To be issued under the 2006 Stock
Option Plan
5,000,000(2)
$ 0.21(3)
$ 1,050,000.00
$ 112.35
(1)
This Registration Statement shall also cover any additional shares of Common Stock
                              which become issuable under the 2006 Stock Option Plan by reason of any stock dividend, stock split, recapitalization
                              or other similar transaction effected without the Registrant's receipt of consideration which results in
                              an increase in the number of the outstanding shares of Registrant's Common Stock.
(2)
Represents shares automatically reserved for issuance under the 2006 Stock Option
                              Plan.
(3)
Estimated solely for the purpose of calculating the registration fee in accordance
                              with Rules 457(c) and (h) promulgated under the Securities Act of 1933 and based upon the average of the
                              high and low sales prices of Imagin Molecular Corporation Common Stock reported on the Over the Counter
                              Bulletin Board on May 11, 2006.
Table of Contents
TABLE OF CONTENTS
PART I: INFORMATION
REQUIRED IN THE SECTION
                              10(a) PROSPECTUS
Item 1.
Plan Information
Item 2.
Registrant Information
                              and Employee Plan Annual Information
PART II: INFORMATION
REQUIRED IN THE REGISTRATION
                              STATEMENT
Item 3.
Incorporation of Documents
                              by Reference
Item 4.
Description of Securities
Item 5.
Interests of Named
                              Experts and Counsel
Item 6.
Indemnification of Directors
                              and Officers
Item 7.
Exemption from Registration
                              Claimed
Item 8.
Exhibits
Item 9.
Undertakings
SIGNATURES
EXHIBIT INDEX
EXHIBIT 4
EXHIBIT 5
EXHIBIT 23.1
EXHIBIT 23.2 (included in Exhibit 5)
PART I
INFORMATION REQUIRED IN THE PROSPECTUS
Item 1. Plan Information.
*
Item 2. Registrant Information and Employee Program Annual Information.*
*
Information required by Part I to be contained in each Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933, as amended (the "Securities Act") and the
Note to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents previously filed by Imagin Molecular Corporation (the "Registrant") with the Securities and Exchange Commission (the "Commission") are hereby incorporated by reference in this
Registration Statement: (a) Registrant's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2005, filed with the Commission on April 17, 2006 pursuant to Section 13(a) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act").
(b) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the latest fiscal year covered by the document referred to in (a) above, including Registrant's
Quarterly Reports on Form 10-QSB for the quarterly periods ended March 31, 2005, June 30, 2005 and September 30, 2005, filed with the Commission on May 23, 2005, August 22, 2005 and November 15, 2005 respectively.
(c) The description of the Registrant's Common Stock contained in the Registrant's
          Definitive Information Statement, filed with the Commission on June 8, 2005 (File No. 000-23873) pursuant to Rule 14C of the
          Exchange Act, including any amendments or reports filed for the purpose of updating such description.
In addition, all documents subsequently filed by the Registrant pursuant to Sections
          13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities
          offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
          in this registration statement and to be a part hereof from the date of filing of such documents. Unless expressly incorporated
          into this Registration Statement, a report furnished on Form 8-K prior or subsequent to the date hereof shall not be incorporated
          by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated
          by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that
          a statement contained in any subsequently filed document which also is deemed to be incorporated by reference herein modifies
          or supersedes such statement.
Item 4. Description of Securities.
Not applicable.
2
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Pursuant to the Delaware General Corporation Law (the "DGCL"), Imagin's Articles of Incorporation exclude personal liability on the part of its directors to the Company for monetary damages based upon any violation of their
fiduciary duties as directors, provided the director acted in good faith, reasonably believed the conduct was in the best interests of the corporation and had no reason to believe the conduct was unlawful. Imagin's Articles of Incorporation and its
Bylaws require indemnification of directors and officers of the registrant to the fullest extent permitted by the DGCL for claims against them in their official capacities, including stockholders' derivative actions.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, we have been advised
that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
3.1
Amended and Certificate of Incorporation of Imagin
                              Molecular Corporation (incorporated by
reference as Exhibit A to the Registrant's Schedule
                              14C filed with the Commission on June 8,
2005).
3.2
By-laws of Imagin Molecular Corporation (incorporated
                              by reference as Exhibit B to the
Registrant's Schedule 14C filed with the Commission
                              on June 8, 2005).
4
2006 Stock Option Plan
5
Opinion of Levy & Boonshoft,
                              P.C.
23.1
Consent of Independent Registered
                              Public Accounting Firm
23.2
Consent of Levy & Boonshoft, P.C. (included in
                              Exhibit 5)
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
                              made, a post-effective amendment to
this Registration Statement:
(i) to include any prospectus
                              required by Section 10(a)(3) of the Securities Act;
(ii) to reflect in the prospectus
                              any facts or events arising after the effective date of this
Registration
                              Statement (or the most recent post-effective amendment hereof) which, individually or
in
                              the aggregate, represent a fundamental change in the information set forth in this Registration
3
Statement. Notwithstanding the foregoing, any increase or decrease in volume
                                        of securities offered (if the total dollar value of securities offered would not exceed that which
                                        was registered) and any deviation from the low or high end of the estimated maximum offering range
                                        may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if,
                                        in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum
                                        aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective
                                        Registration Statement; and (iii) to include any material information with respect to the plan
                                        of distribution not previously disclosed in this Registration Statement or any material change
                                        to such information in this Registration Statement; provided, however, that paragraphs (a)(1)(i)
                                        and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
                                        by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section
                                        13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration
                                        Statement.
(2) That, for the purpose of determining any liability under the Securities Act,
                                        each such post-effective amendment shall be deemed to be a new registration statement relating
                                        to the securities offered therein, and the offering of such securities at that time shall be deemed
                                        to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
                                        securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that,
                                        for purposes of determining any liability under the Securities Act, each filing of the Registrant's
                                        annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable,
                                        each filing of an employee benefit plan's annual report pursuant to Section15(d) of the Exchange
                                        Act) that is incorporated by reference into this Registration Statement shall be deemed to be
                                        a new registration statement relating to the securities offered therein, and the offering of such
                                        securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising
                                        under the Securities Act may be permitted to directors, officers and controlling persons of the
                                        Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised
                                        that in the opinion of the Securities and Exchange Commission such indemnification is against
                                        public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
                                        that a claim for indemnification against such liabilities (other than the payment by the Registrant
                                        of expenses incurred or paid by a director, officer or controlling person of the Registrant in
                                        the successful defense of any action, suit or proceeding) is asserted by such director, officer
                                        or controlling person in connection with the securities being registered, the Registrant will,
                                        unless in the opinion of its counsel the matter has been settled by controlling precedent, submit
                                        to a court of appropriate jurisdiction the question whether such indemnification by it is against
                                        public policy as expressed in the Securities Act and will be governed by the final adjudication
                                        of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies
          that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this
          Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Hinsdale, State
          of Illinois on the 12th day of May, 2006.
IMAGIN MOLECULAR CORPORATION
By: /s/ Corey Conn
Corey Conn
Chief Executive Officer
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POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS
that each of the undersigned officers and directors of Imagin Molecular Corporation, a Delaware corporation, constitutes and
appoints Corey Conn and Neil Sy, and each of them acting individually, his true and lawful attorneys-in-fact and agents with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same with all exhibits thereto and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Name
Title
Date
Principal Executive Officer:
/s/ Corey Conn
Chief
                              Executive Officer, Director
May 12, 2006
(principal
                              executive officer)
Corey Conn
Principal Financial Officer And
Principal
                              Accounting Officer:
/s/ Neil Sy
Chief
                              Financial Officer, Chairman
May 12, 2006
of
                              the Board
Neil Sy
(principal
                              financial officer
and
                              principal accounting officer)
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