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                                                                   EXHIBIT 10.18

                                  120 DAY NOTE


AMOUNT $300,000                                                   APRIL 11, 2003

         For value received, Microislet, Inc., a Nevada corporation, promises to
pay to John J. Hagenbuch, Trustee U/D/T dated September 13, 1995 ("Lender") at
353 Sacramento Street, 21st Floor, San Francisco, California 94111, the sum of
$300,000, on August 9, 2003; together with interest on the unpaid principal
amount at a fixed annual rate of 4.25%. This note may be repaid at par at any
time prior to maturity in whole or in part in multiples of not less than
$25,000. Accrued interest shall be paid, with respect to any principal amount
prepaid, upon such prepayment, and with respect to the balance, upon maturity.

         As additional consideration for making this advance, Microislet, Inc.
shall issue Lender a 10-year warrant to purchase 50,000 shares of Microislet,
Inc. common stock at a price equal to the closing price of Microislet, Inc.
common stock as reported on the OTC Bulletin Board on the day that the Lender
first makes the loan.

         This Note evidences an advance that Lender made to Microislet, Inc.
related to its need for additional working capital.

         This Note may not be assigned.

         This Note and all agreements (included the warrant referred to above)
which either are now or which shall become agreements between Lender and
MicroIslet, Inc. are hereby expressly limited so that in no contingency or event
whatever, whether by reason of deferment or advancement of the indebtedness
represented by this Note, acceleration of the maturity date of this Note, or
otherwise, shall the amount paid or agreed to be paid to Lender for the use,
forbearance or detention of the indebtedness evidenced hereby exceed the maximum
amount of interest permissible under applicable law. If at any time, from any
circumstance whatsoever, fulfillment of any provision of this Note or any other
agreement between Lender and MicroIslet, Inc. shall result in or involve
payments or performance which would exceed the maximum legal interest rate,
then, ipso facto, the obligation to be fulfilled shall be reduced so as not to
exceed said maximum legal interest rate.

         Upon the occurrence of any of the events set forth below, all
principal, interest and any other obligation or amounts due pursuant to this
note (the "Obligations") shall automatically, become immediately due and payable
to the Lender, in each case, without presentment, demand, protest, or other
notice of any kind, all of which are expressly waived by Microislet, Inc.:

         Microislet, Inc. fails to pay the Obligations when the Obligations
         become due and payable.

         The entry of a decree or order by a court of competent jurisdiction
         adjudging Microislet, Inc. a bankrupt or insolvent, or approving as
         properly filed a petition seeking a reorganization arrangement,
         adjustment, or composition of or in respect of Microislet, Inc. under
         the federal Bankruptcy Act or any other applicable federal or state
         law, or appointing a receiver, liquidator, assignee, or trustee of
         Microislet, Inc., or any substantial part of its property, or ordering
         the winding up or liquidation of its affairs, and the continuance of
         the decree or order unstayed and in effect for a period of 45
         consecutive days.


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         The institution by Microislet, Inc. of proceedings to be adjudicated a
         bankrupt or insolvent, or the consent by Microislet, Inc. to the
         institution of bankruptcy or insolvency proceedings against it, or the
         filing by Microislet, Inc. of a petition or answer or consent seeking
         reorganization or relief under the federal Bankruptcy Act or any other
         applicable federal or state law, or the consent by Microislet, Inc. to
         the filing of any petition or to the appointment of a receiver,
         liquidator, assignee, or trustee of Microislet, Inc., or of any
         substantial part of its property, or the making by Microislet, Inc. of
         an assignment for the benefit of creditors, or the admission by
         Microislet, Inc. in writing of its inability to pay its debts generally
         as they become due, or the taking of corporate action by Microislet,
         Inc. in furtherance of any of the foregoing actions.

         The principal of and interest on this Note shall be payable in lawful
money of the United States of America in immediately available funds and without
set-off or counterclaim, free and clear of and without deduction for any present
or future taxes, restrictions or conditions of any nature.

         Microislet, Inc. waives diligence, presentment, protest and notice of
protest, dishonor and nonpayment of this Note, and expressly agrees that this
Note, or any payment under it, may be extended and any security may be accepted,
released or substituted by the Lender from time to time without in any way
affecting the liability of Microislet, Inc.

         If the indebtedness represented hereby or any part hereof is collected
at law or in equity or in bankruptcy, receivership or other judicial proceeding,
or if this Note is placed in the hands of attorneys for collection after
default, Microislet, Inc. agrees to pay, in addition to the principal and
interest payable hereon, attorneys' and collection fees incurred by the Lender.

         This Note shall be governed by and construed in accordance with the
laws of the State of California applicable to contracts to be performed wholly
within California.


                                         John J. Hagenbuch, Trustee U/D/T dated
                                         September 13, 1995


                                         By: /S/ John J. Hagenbuch
                                             -----------------------------------
                                              John J. Hagenbuch, Trustee

                                         Microislet, Inc., a Nevada corporation


                                         By:  /S/ John F. Steel IV
                                              ----------------------------------
                                              John F. Steel IV, Chief Executive
                                              Officer



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