X0201 3 2004-03-15 0 0001167419 ASPENBIO INC APNB 0001287149 HEPLER DOUGLAS I 815 CLIFF DRIVE MCLEANSVILLE NC 27301 1 0 0 0 Common Stock 120000 I Held by Spouse Option (Right to Buy) 1.5 2004-03-15 2014-03-15 Common Stock 100000 D This option to purchase common stock was granted with a ten year term pursuant to a resolution by the Board of Directors and is subject to shareholder approval of an increase in the registrant's authorized shares at an annual meeting of shareholders scheduled for May 5, 2004. /s/ Douglas I. Hepler 2004-04-23