Exhibit 10.16



Date:  [issuance date]                                            No.: [**001**]


                  SCHIMATIC Cash Transactions Network.com, Inc.

                           CONVERTIBLE PROMISSORY NOTE

   These securities have not been registered under the Securities Act of 1933,
 as amended (the "Securities Act"), or under the securities laws of any state.
  These securities are "restricted securities" within the meaning of Rule 144
   promulgated under the Securities Act. The securities have been acquired for
investment and may not be sold or transferred without complying with Rule 144 in
       the absence of an effective registration or an available exemption
    from registration under the Securities Act and applicable state statutes.

     SCHIMATIC Cash Transactions Network.com, Inc., a corporation duly organized
and existing under the laws of the state of Florida (hereinafter  referred to as
the  "Company"),  for value  received,  hereby promises to pay to the registered
holder hereof,  the principal amount of ____________  dollars  ($___________) on
the date or dates set forth  below,  upon  presentation  and  surrender  of this
Convertible  Promissory Note (this "Note"), at the offices of the Company at 740
East 3900 South,  Second Floor,  Murray, Utah 84107, in such lawful money of the
United States of America as at the time of payment shall be legal tender for the
payment of public and private debts,  and to pay in like lawful tender  interest
hereon,  from and after the date first above  written,  at the interest rate set
forth below, until the principal hereof is paid or made available for payment as
herein  provided.  There interest so payable will, as provided below, be paid to
the person in whose name this Note is  registered on the books of the Company at
the  close of  business  on the  regular  record  date for the  payment  of such
interest.

         This Note is subject to the following further terms and material
provisions:

     1. Series.  This Note is one of the duly  authorized  issue of notes of the
Company  designated as its "Convertible  Promissory Notes," limited in aggregate
principal amount to five hundred six thousand dollars  ($506,000) (the "Series")
and issuable  between  October 1, 2000,  and April 30,  2001,  issued in various
denominations of like tenor and maturity, except variations necessary to express
the amount and payee of each Note.  All Notes of this  Series  rank  equally and
ratably without priority over one another.

     2. Term and  Interest.  The  principal  of and all accrued  interest on the
Note,  if not  previously  converted  to common stock as provided in paragraph 3
hereof or prepaid as provided in paragraph 4 hereof, shall be due and payable on
or before ____________________. The Note shall bear simple interest at a rate of
20% per month,  payable in shares of restricted common stock of the Company in a
number equal to the amount of the accrued  interest divided by the lesser of the
Market  Price (as defined  below) per share for such common stock as of the last
day on which the common stock is traded during the month for which such interest
is due, or $_____.  For purposes  hereof,  "Market Price" shall mean the closing
sales price for the common stock as quoted on a registered  national  securities
exchange or, if not listed on a national exchange,  the Nasdaq Stock Market, or,
if not listed on such an exchange or included on the Nasdaq  Stock  Market,  the
closing sales price on the  over-the-counter  market, or if not traded on any of
the  foregoing,  as  determined  by the  board of  directors  through  any other
reliable  means of  determination  available.  The payment of  principal  of and

<PAGE>

interest  on the Note is  subject  to  prepayment  as set forth in  paragraph  4
hereof.  Principal  and  interest  shall be paid at the  office  of the  Company
maintained for such purpose pursuant hereto.

     3. Conversion.

     (a)  Subject to and in compliance with the provisions contained herein, the
     holder of this Note is entitled, at such holder's option, at any time prior
     to  maturity,  or in the case this Note or some  portion  hereof shall have
     been called for prepayment prior to such date, then in respect of this Note
     or such portion hereof,  until and including,  but not after,  the close of
     business within 30 days after the date of notice of prepayment,  to convert
     this Note (or any  portion of the  principal  amount  hereof or accrued and
     unpaid interest) into fully paid and nonassessable shares (calculated as to
     each conversion to the nearest share) of common stock, par value $0.001 per
     share, of the Company (the "Shares") at a price per share (the  "Conversion
     Price")  equal to the lesser of the Market  Price per share for such common
     stock as of the last business day preceding the conversion  date or $_____,
     by surrender of this Note, duly endorsed (if so required by the Company) or
     assigned  to the  Company  or in  blank,  to the  Company  at its  offices,
     accompanied by written notice to the Company,  in the form set forth below,
     that the holder  hereof  elects to  convert  this Note or, if less than the
     entire principal  amount hereof is to be converted,  the portion thereof to
     be  converted.  No  fractions of Shares will be issued on  conversion,  but
     instead of any fractional  interest,  the Company will pay cash adjustments
     as provided herein.


     (b)  Notwithstanding  anything to the contrary set forth herein,  this Note
     shall be converted  automatically into Shares if, at any time, the original
     principal  amount of the Note  divided  by the  number of Shares  issued or
     issuable  in  payment  of  interest  plus the  number of  Shares  issued or
     issuable on conversion results in an effective price per share of $_____ or
     less.


     4. Prepayment.  This Note is subject to prepayment, in whole or in part, at
any time upon not less than 30 days' notice by registered  mail, at the election
of the Company, subject to the holder's prior right of conversion as provided in
paragraph  3.  Prepayment  shall be effected  by paying the amount  equal to the
outstanding  principal  amount of the Note plus all interest accrued to the date
of  prepayment.  During  the  30  days  following  the  date  of any  notice  of
prepayment,  the holder will have the right to convert the outstanding principal
amount of the Note, or any portion  thereof,  plus accrued but unpaid  interest,
into common  stock of the Company on the terms and  conditions  provided  for in
paragraph  3 above.  On the date fixed for  prepayment,  the Note shall cease to
bear  interest  with  respect to the amount of  principal  actually  paid.  Upon
surrender  of any  Note  for  prepayment  in  accordance  with  said  notice  of
prepayment  by the Company,  the amount of  principal  and interest due shall be
paid in cash or certified  funds. Any Note that is prepaid only in part shall be
presented  for notation  thereon by the Company of such partial  prepayment.  If
less than all the Notes of this Series are to be prepaid, notice of the proposed
prepayment  shall be sent to the registered  holders of all Notes issued in this
Series, and such prepayment shall be made pro rata.

     5.  Limitations  on Right of Conversion.  Following  receipt of the written
notice of intention to convert this Note,  the Company  shall take such steps as
it deems appropriate to permit conversion of the Note as specified in the notice
without  registration  or  qualification  under  applicable  federal  and  state
securities  laws;  provided,  that in no event  shall the Company be required to
consent to the general service of process or qualify as a foreign corporation in
any jurisdiction where the Note holder resides if such jurisdiction is different
than such Note holder's residence when the Note was originally offered and sold.
In order to comply with  exemptions  from the  registration  requirements of the
Securities Act and certain state  securities  statutes,  the Company may require
the holder of this Note to make certain  representations and execute and deliver
to the Company  certain  documents as a condition to exercise of the  conversion
rights  hereunder,  all in form and  substance  satisfactory  to the  Company as
determined  in  its  sole  discretion.  In  the  event  the  Company  reasonably
determines  that the Note cannot be  converted  in  compliance  with  applicable
federal  and  state   securities   laws  in  the  absence  of   registration  or
qualification  under such statutes,  the Company shall be under no obligation to
permit conversion of the Note and issue any Shares pursuant hereto.


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<PAGE>

     6.  Satisfaction  and  Discharge  of Note.  This Note shall  cease to be of
further effect (except as to any surviving  rights of conversion,  transfer,  or
exchange of Notes herein expressly provided for) when:

                  (a) the Company has paid or caused to be paid all sums payable
hereunder  by the  Company, including all principal amounts and interest accrued
under this Note; and

                  (b)  all the conditions precedent herein provided for relating
to the satisfaction and discharge of this Note have been complied with.

     7. Events of Default.  "Event of default"  when used  herein,  whatever the
reason  for such  event of  default,  and  whether  it  shall  be  voluntary  or
involuntary,  effected by operation of law pursuant to any judgment,  decree, or
order of any court or any order,  rule, or regulation of any  administrative  or
governmental  body, or caused by the provisions of any paragraph  herein,  means
any one of the following events:

                  (a)      default in the payment of any  interest  on this Note
when it becomes  due and  payable,  and continuance of such default for a period
of 30 days;

                  (b)      default in the payment of the principal  of any  Note
in this  Series when due,  whether    at maturity, upon repayment, or otherwise;

                  (c)  default in the performance or breach of any   covenant or
          warranty  of the  Company  in this  Note  (other  than a  covenant  or
          warranty,  the breach or default in  performance of which is elsewhere
          in this section  specifically  dealt with),  and  continuation of such
          default or breach for period of 60 days after  there has been given to
          the  Company by  registered  or  certified  mail,  by the holders of a
          majority in principal amount of the outstanding  Notes in this Series,
          a written notice specifying such default or breach and requiring it to
          be  remedied  and  stating  that such  notice  is a notice of  default
          hereunder;

                  (d)     the entry of a decree or order by a court having
          jurisdiction  in the  premises  adjudging  the  Company a bankrupt  or
          insolvent,  or  composition  of or in respect of the Company under the
          Federal  Bankruptcy Act or any other applicable  federal or state law,
          or appointing a receiver, liquidator,  assignee, trustee, sequestrator
          (or other similar  official) of the Company or of any substantial part
          of its  property,  or ordering  the winding up or  liquidation  of its
          affairs,  and the continuance of any such decree or order unstayed and
          in effect for a period of 60 consecutive days; or

                  (e)     the  institution by  the  Company of proceedings to be
          adjudicated  a  bankrupt  or  insolvent,  or the  consent by it to the
          institution of bankruptcy or insolvency  proceedings  against it, or a
          filing by it 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 it to the filing of any such
          petition  or the  appointment  of a  receiver,  liquidator,  assignee,
          trustee, sequestrator (or other similar official) of the Company or of
          any  substantial  part of its  property),  or the  making  by it of an
          assignment  for the benefit of  creditors,  or the  admission by it in
          writing of its  inability  to pay its debts  generally  as they become
          due, or the taking of corporate  action by the Company in  furtherance
          of any such action.

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<PAGE>

If any one or more of the Events of Default specified above shall have happened,
the  rights of the  holder of this  Note  shall be  limited  to  converting  the
principal  of and  accrued  but unpaid  interest  on the Note to  Shares,  or to
executing  and  foreclosing  on the  collateral  described  in the Stock  Pledge
Agreement and Accommodation  Pledge Agreement  described below, and in the event
that any sale of the collateral  shall be insufficient to satisfy the obligation
evidenced by this Note,  the holder of this Note shall not seek and shall not be
entitled to obtain a deficiency or personal judgment against the Company.

     8.  Acceleration  of  Maturity.  If an  event  of  default  occurs  and  is
continuing,  then,  in every such case,  the holders of a majority in  principal
amount of the outstanding  Notes in this Series may declare the principal of all
the  Notes to be due and  payable  immediately,  by a notice in  writing  to the
Company of such default,  and upon any such  declaration,  such principal  shall
become  immediately  due and  payable.  At any time  after such  declaration  of
acceleration has been made, and before a judgment or decree for payment of money
due has been  obtained by the  holders,  the holders of a majority in  principal
amount  of the  outstanding  Notes in this  Series,  by  written  notice  to the
Company,  may rescind and annul such  declaration and its  consequences,  if all
events of default,  other than the nonpayment of the principal of Notes that has
become due  solely by such  acceleration,  have been  cured or  waived.  No such
rescission  shall affect any subsequent  default or impair any consequent  right
thereon.

     9. Suits for Enforcement.  If an event of default occurs and is continuing,
the holders of a majority in principal  amount of the outstanding  Notes in this
Series may, in their discretion,  proceed to protect and enforce their rights by
such appropriate  judicial  proceedings as the holders shall deem most effectual
to protect and enforce any such rights, whether for the specified enforcement of
any covenant or agreement under this Note or in aid of the exercise of any power
granted herein, or to enforce any other property remedy.

     10.  Limitation  on Suits.  No holder of any Note  shall  have any right to
institute any proceedings,  judicial or otherwise, with respect to this Note, or
for the  appointment  of a receiver  or  trustee,  or for any remedy  hereunder,
unless  such  holder has  previously  given  written  notice to the Company of a
continuing  event of default as provided above; it being understood and intended
that no one or more holders of Notes shall have any right in any manner whatever
by virtue of or by availing of any  provisions of this Note to effect,  disturb,
or prejudice the right of any other holders of Notes, or to obtain or to seek to
obtain  priority or preference  over any other holders,  or to enforce any right
under this  Note,  except in the manner  herein  provided  and for the equal and
ratable benefit of all the holders of the Notes.

     11. Acts of Holders. Any request, demand, authorization, direction, notice,
consent,  waiver,  or other action provided by this Note to be given or taken by
the holder  hereof or by the holders of the Notes in this Series may be embodied
in and  evidenced by one or more  instruments  of  substantially  similar  tenor
signed by such  holders in person,  or by their agent or  attorney-in-fact  duly
appointed in writing;  and, except as otherwise  expressly provided herein, such
action shall become  effective when such instrument or instruments are delivered
to the Company in the manner provided for giving notices herein. Such instrument
or instruments, and the action embodied therein or evidenced thereby, are herein
sometimes  referred to as the "act" of the holders  signing such  instrument  or
instruments.  Proof  of  execution  of  any  such  instrument  or  of a  writing
appointing  any such agent shall be  sufficient  for any purpose of this Note if
the fact and date of execution by any person of any such  instrument  or writing
is  verified  by the  affidavit  of a witness of such  execution.  The  request,
demand,  authorization,  direction,  notice, consent, waiver, or other action by

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<PAGE>

the holder of any Note  shall  bind  every Note  holder of the same Note and the
holder of every Note issued upon the transfer thereof or in exchange therefor or
in lieu thereof in respect of anything done or suffered to be done by any person
in reliance  thereon,  whether or not  notation of such action is made upon such
Note.

     12.  Notices to Holders;  Waiver.  Where this Note  provides  for notice to
holders of any event, such notice shall be sufficiently  given if in writing and
mailed,  registered,  postage prepaid, to each holder affected by such event, at
his or her address as it appears in the Note register maintained by the Company,
not  later  than  the  latest  date and not  earlier  than  the  earliest  date,
prescribed for the giving of such notice.  In any case,  where notice to holders
is given by mail,  neither the failure to mail such notice nor any defect in any
notice so mailed to any particular  holder shall affect the  sufficiency of such
notice with respect to holders of other Notes  issued in this Series.  Where the
Note provides for notice to the Company, such notice shall be sufficiently given
if in writing and mailed,  registered,  postage  prepaid,  to the Company at its
address  set forth  above (or at such other  address as shall be provided to the
holders of the Notes of this  Series in the manner for giving  notices set forth
herein),  not later than the latest date and not earlier than the earliest date,
prescribed for the giving of such notice. Where this Note provides for notice in
any  manner,  such  notice may be waived in writing  by the person  entitled  to
receive such notice, whether before or after the event, any such waiver shall be
equivalent of such notice.

     13.  Adjustment in Conversion.  The  Conversion  Price and number of Shares
issuable upon  conversion of this Note may be subject to adjustment from time to
time as follows:

                  (a)  If the Company shall take a record of the holders  of its
     shares for the purpose of  entitling  them to receive a dividend in shares,
     the Conversion Price in effect  immediately prior to such record date shall
     be   proportionately   decreased,   such  adjustment  to  become  effective
     immediately  after the opening of business on the day following such record
     date.

                  (b) If the Company shall subdivide the outstanding shares into
     a greater number of shares or combine the outstanding shares into a smaller
     number of  shares,  or issue by  reclassification  any of its  shares,  the
     Conversion Price in effect  immediately  prior thereto shall be adjusted so
     that the holder of the Note thereafter  surrendered for conversion shall be
     entitled to receive,  after the occurrence of any of the events  described,
     the number of Shares to which the holder would have been  entitled had such
     Note been  converted  immediately  after the opening of business on the day
     following  the  date  upon  which  such   subdivision   or  combination  or
     reclassification, as the case may be, becomes effective.

                  (c)  No fraction of a share shall be issued upon   conversion,
     but in lieu  thereof  the  Company,  notwithstanding  any  other  provision
     hereof, may pay therefor in cash at the fair value of the fractional shares
     at the time of conversion.

                  (d)  Neither the purchase or other acquisition by the  Company
     of any  shares  nor the sale or other  disposition  by the  Company  of any
     shares shall affect any adjustment of the Conversion Price or be taken into
     account in computing any subsequent adjustment of the Conversion Price; and

                  (e)      If at any time:

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<PAGE>

                         (i) the Company proposes to pay any dividend payable in
                    shares upon its shares or make any distribution, including a
                    cash  or  property  dividend,  out  of  earnings  or  earned
                    surplus, to the holders of its shares; or

                         (ii) the  Company  proposes  to enter  into any plan of
                    capital  reorganization or of reclassification of the shares
                    of the Company; or

                         (iii) the Company  proposes to merge,  consolidate,  or
                    encumber  or sell  all or  substantially  all of its  assets
                    other than in the ordinary course of business,

then,  in any one or more of said cases,  the Company shall cause a notice to be
mailed to the  registered  holder of this Note at the address of such holder set
forth in the  registration  records of the Company.  Such notice shall be solely
for the  convenience  of such  registered  holder  and shall not be a  condition
precedent to, nor shall any defect  therein or failure in  connection  therewith
affect the  validity of, the action  proposed to be taken by the  Company.  Such
notice  shall be mailed at least 10 days prior to the date on which the books of
the Company shall close or a record date shall be taken for such share dividend,
share split or  reclassification,  consolidation,  merger, or sale of properties
and assets,  as the case may be. Such notice shall  specify such record date for
the closing of the transfer books.

         14.      Restrictions.  The holder of this Note, by acceptance  hereof,
both with respect to the Note and the Shares to be issuable  upon  conversion of
the Note (unless issued  pursuant to an effective  registration  statement under
the Securities Act), represents and warrants as follows:

               (a) The subject  securities  are being  acquired for the holder's
          own  account to be held for  investment  purposes  only and not with a
          view to or for  resale in  connection  with any  distribution  of such
          securities  or any  interest  therein  without  registration  or other
          compliance  under the  Securities  Act,  and the holder  hereof has no
          direct  or  indirect  participation  in  any  such  undertaking  or in
          underwriting such an undertaking.

               (b) The holder hereof has been advised and understands  that: (i)
          the subject  securities have not been and will not be registered under
          the Securities Act and the subject securities must be held and may not
          be sold,  transferred,  or otherwise disposed of for value unless they
          are  subsequently  registered under the Securities Act or an exemption
          from such registration is available;  (ii) except as set forth herein,
          the Company is under no obligation to register the subject  securities
          under the Securities  Act; (iii) in the absence of such  registration,
          sale  of  the  subject  securities  may  be  impracticable;  (iv)  the
          Company's  registrar  and transfer  agent will  maintain stop transfer
          orders against registration of transfer of the subject securities; and
          (v) the  certificates  to be issued  for any  securities  will bear on
          their face a legend in substantially the following form:

               The  securities  represented  by this  certificate  have not been
               registered  under the  Securities  Act of 1933,  as amended  (the
               "Securities  Act),  or under the  securities  laws of any  state.
               These securities are "restricted  securities"  within the meaning
               of Rule 144 promulgated  under the Securities Act. The securities
               have  been  acquired  for  investment  and  may  not be  sold  or
               transferred  without complying with Rule 144 in the absence of an
               effective   registration   or   an   available   exemption   from
               registration  under  the  Securities  Act  and  applicable  state
               statutes.

               (c) The  Company may refuse to  transfer  the subject  securities
          unless  the  holder  thereof  provides  an  opinion  of legal  counsel
          reasonably   satisfactory   to  the  Company  or  a   "no-action"   or
          interpretive  response from the Securities and Exchange  Commission to
          the effect that the transfer is proper. Further, unless such letter or
          opinion  states  that  the  subject   securities  are  free  from  any
          restrictions  under the  Securities  Act,  the  Company  may refuse to
          transfer the subject securities to any transferee who does not furnish
          in writing to the  Company the same  representations  and agree to the
          same conditions  with respect to such subject  securities as set forth
          herein. The Company may also refuse to transfer the subject securities
          if any  circumstances  are  present  reasonably  indicating  that  the
          transferee's representations are not accurate.


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<PAGE>

               (d)      This Note is non-negotiable.

     15.  Registered  Holder.  The Company may treat the person or persons whose
name or names appear hereon as the absolute owner or owners of this Note for the
purpose of receiving  payment of, or on account of, the  principal  and interest
due on this  Note and for all  other  proposes,  and the  Company  shall  not be
affected by any notice to the contrary.

     16.  Severability.  In case any  provision  in this Note shall be  invalid,
illegal,  or unenforceable,  the validity,  legality,  and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

     17.  Governing  Law.  This Note  shall be  governed  by and  construed  and
interpreted  in  accordance  with  the  laws of the  state  of  Utah,  excluding
principles of choice or conflicts of law.

     18. Legal Holidays. In any case where any date provided herein shall not be
a business day, then  (notwithstanding  any other  provision of this Note),  the
event required or permitted on such date shall be required or permitted,  as the
case may be, on the next succeeding  business day with the same force and effect
as if made on the date upon which such event was required or permitted  pursuant
hereto.

     19. Delay or Omission; No Waiver. No delay or omission of any holder of the
Note to exercise any right or remedy  accruing  upon any event of default  shall
impair  any such  right or remedy or  constitute  a waiver of any such  event or
default or  acquiescence  therein.  Every right or remedy given hereby or by law
may be exercised from time to time and as often as may be deemed expedient.

     20.  Miscellaneous.  This Note is subject to the following additional terms
and conditions:


          (a) If this Note is placed with an attorney for collection, or if suit
     be instituted  for  collection,  or if any other remedy  provided by law is
     pursued by the  registered  holder  hereof,  because of any  default in the
     terms and conditions  herein,  then in either event, the undersigned agrees
     to pay reasonable  attorneys' fees,  costs, and other expenses  incurred by
     the registered holder hereof in so doing.

          (b) None of the rights and remedies of the  registered  holder  hereof
     shall be waived or  affected  by failure  or delay to  exercise  them.  All
     remedies  conferred  on  the  registered  holder  of  this  Note  shall  be
     cumulative   and  none  is  exclusive.   Such  remedies  may  be  exercised
     concurrently or consecutively at the registered holder's option.


                                       7
<PAGE>

          (c) This Note is negotiable  and  transferable,  subject to compliance
     with the provisions of paragraph 13 hereof.

          (d) The makers,  guarantors,  and  endorsers  hereof  severally  waive
     presentment for payment,  protest,  and notice of protest and nonpayment of
     this Note.

         DATED effective as of the [issuance date].

                                        SCHIMATIC CASH TRANSACTIONS
                                        NETWORK.com, INC.

Attest

By                                      By
  -----------------------------           --------------------------------------
                                        Joe G. Coykendall, Senior Vice President
     -----------------------, Secretary







                                       8
<PAGE>


                                                     Date ______________________




SCHIMATIC Cash Transactions Network.com, Inc.
740 East 3900 South, Second Floor
Salt Lake City  UT  84107

         Re:      Conversion of Note

To Whom It May Concern:

     The undersigned owner of this Note hereby irrevocably  exercises the option
to convert this Note, or the portion  hereof  designated,  into shares of common
stock, par value $0.001 per share, of SCHIMATIC Cash  Transactions  Network.com,
Inc.,  in  accordance  with the terms of this Note,  and directs that the shares
issuable and deliverable upon the conversion, together with any check in payment
for fractional shares, be issued in the name of and delivered to the undersigned
unless a different name has been indicated  below. If shares are to be issued in
the name of a person other than the  undersigned,  the undersigned  will pay any
transfer taxes payable with respect thereto.


                                                      --------------------------
                                                      (Signature)
FILL IN FOR REGISTRATION OF SHARES:


----------------------------------   -------------------------------------------
(Printed Name)                     (Social Security or Other Identifying Number)

----------------------------------
(Street Address)

----------------------------------   -------------------------------------------
(City, State, and ZIP Code)           Portion To Be Converted (if less than all)
















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