Stereotaxis
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S-1/A
STEREOTAXIS, INC. filed this Form S-1/A on 06/17/2004
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                                    EXHIBIT C

                           BORROWING BASE CERTIFICATE

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Borrower:   Stereotaxis, Inc.
Lender:           Silicon Valley Bank
Commitment Amount:      $8,000,000.00
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<TABLE>
<S>                                                           <C>
ACCOUNTS RECEIVABLE
1.    Accounts Receivable Book Value as of ___________________  $_______________
2.    Additions (please explain on reverse)                     $_______________
3.    TOTAL ACCOUNTS RECEIVABLE                                 $_______________
ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)
4.    Amounts over 120 days due                                 $_______________
5.    Balance of 50% over 120 day accounts                      $_______________
6.    Credit balances over 90 days                              $_______________
7.    Concentration Limits (in excess of $800,000.00 for
      individual account debtors)                               $_______________
8.    Foreign Accounts                                          $_______________
9.    Governmental Accounts                                     $_______________
10.   Contra Accounts                                           $_______________
11.   Promotion or Demo Accounts                                $_______________
12.   Intercompany/Employee Accounts                            $_______________
13.   Other (please explain on reverse)                         $_______________
14.   TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS                      $_______________
15.   Eligible Accounts (#3 minus #14)                          $_______________
16.   LOAN VALUE OF ACCOUNTS (80% of #15)                       $_______________
INVENTORY
17.   Inventory Value as of _______________                     $_______________
18.   LOAN VALUE OF INVENTORY (lesser of 40% of #17 or
      $4,500,000.00)                                            $_______________
BALANCES
19.   Maximum Loan Amount                                       $_______________
20.   Total Funds Available (Lesser of #19 or (#16 plus #18))   $_______________
21.   Present balance owing on Line of Credit                   $_______________
22.   Outstanding under Sublimits (L/C, FX Contract, Cash
      Mgt.)                                                     $_______________
23.   RESERVE POSITION (#20 minus #21 and #22)                  $_______________
</TABLE>


The undersigned represents and warrants that this is true, complete and correct,
and that the information in this Borrowing Base Certificate complies with the
representations and warranties in the Loan and Security Agreement between the
undersigned and Silicon Valley Bank.

                                                       BANK USE ONLY

                                               Received by:_________________
                                                           AUTHORIZED SIGNER

                                               Date:________________________
COMMENTS:
By: ___________________________                Verified:____________________
        Authorized Signer                                  AUTHORIZED SIGNER
                                               Date:________________________

                                               Compliance Status:   Yes   No




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