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                                                                Exhibit: 10.15FT

                        MULTIPLE ADVANCE PROMISSORY NOTE

$500,000.00                                                As of January 5, 1998
                                                                Phoenix, Arizona

         THIS NOTE is made as of the date stated above by Little Tiger Press
USA, L.L.C., a New York limited liability company ("Maker") to the order of
Futech Educational Products, Inc., an Arizona corporation ("Payee").

         1. PAYMENT. For value received, Maker promises to pay, as hereinafter
set forth, without offset, such principal sum, up to a maximum of Five Hundred
Thousand Dollars ($500,000.00), as the holder hereof may advance to or for the
benefit of the undersigned, together with interest to the date paid on a daily
basis for the actual number of days any portion of said principal is
outstanding, calculated at the publicly announced prime rate of interest of Bank
One, Arizona, N.A., as such prime rate may be adjusted from time to time during
the time period this loan is outstanding.

         Principal and interest are payable in lawful money of the United States
of America at 2999 North 44th Street, Suite 225, Phoenix, Arizona 85018-7247, or
at such other address as the holder hereof may from time to time designate in
writing, interest only payable monthly on the first day of each month,
commencing on the first day of the first calendar month after the date funds are
first advanced under this Note, with the full outstanding principal payment due
and payable in full on December 31, 2002.

         If requested by the holder of this Note at any time, Maker shall pay
payments due hereunder by cash, cashiers check, or money order only, and
payments in other forms may, in the holder's discretion, be refused and not
accepted.

         All payments hereunder shall be applied first to interest and then to
principal. The unpaid balance of this obligation at any time shall be the total
amount advanced hereunder by the holder(s) hereof plus accrued interest added to
principal, less the amount of payments made hereon by or for Maker, which
balance may be endorsed hereon from time to time by the holder hereof.

         Payee agrees to loan Maker amounts requested by Maker from time to time
up to the maximum amount specified in the first paragraph of this Section 1.

         2. PREPAYMENT. Maker has the privilege, at any time, to prepay the
whole or any part of the unpaid balance hereof without penalty or forfeiture.

         3. INTEREST. All interest payable pursuant to this Note shall be
computed on the basis
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of a 360-day year. In no event shall the aggregate of the interest herein
provided to be paid over the contractual term of the loan exceed the highest
rate to which a borrower and lender may agree in writing under the laws of the
State of Arizona.

         4. DEFAULT. If the principal due under this Note, or under any
mortgage, deed of trust, security agreement, or other agreement between maker
and payee pertaining to the indebtedness evidenced hereby shall not be paid
within ten (10) days after it first becomes due, or if Maker fails to comply
with all of the other terms and conditions of this Note or any instrument
securing this Note, and such failure shall continue for twenty (20) days after
notice thereof is given to Maker, then the entire principal sum, accrued
interest, and all other amounts due hereunder shall, at the option of Payee,
become immediately due and payable without further notice.

         5. COLLECTION COSTS. Maker agrees to reimburse Payee for all costs and
expenses, including without limitation, all reasonable attorneys' fees incurred
in the enforcement or collection of this Note or any judgment obtained hereon.

         6. WAIVER, CONSENT, ETC. Except as may be expressly provided to the
contrary in this Note, Maker, sureties, guarantors, and endorsers hereof agree
to be jointly and severally bound, severally waive any homestead or exemption
rights against said debt, severally waive diligence, demand, presentment for
payment, protest, protest and demand, notice of protest, notice of nonpayment,
notice of default, notice of acceleration, and all other notices and demands of
any kind. Maker, sureties, guarantors and endorsers hereof hereby severally
consent to the extension of time for payment of this Note or any installment
hereof, any modification hereof, release from liability of any maker, endorser,
or any other person or entity at any time liable for the payment hereof, and the
modification or release of any collateral at any time held as security for this
Note, without notice and without affecting the liability of any maker,
guarantor, surety or endorser. Maker further waives, to the extent permitted by
law, the right to plead any and all statutes of limitations as a defense to any
demand on this Note.

         Delay or failure in exercising any of Payee's rights or options
hereunder shall not constitute a waiver thereof, and any waiver of any rights or
options hereunder shall not constitute a waiver of the right to exercise the
same in the event of any subsequent default. By accepting payment of any sum
hereunder after its due date, the holder hereof shall not waive its rights
either to require prompt payment when due of all other sums hereunder or to
declare a default for failure to make prompt payment. No waiver by the holder of
this Note shall be effective unless it is in writing and signed by such holder.

         7. SEVERABILITY. If any provision of this Note or any application of
such provision shall be declared by a court of competent jurisdiction to be
invalid or unenforceable, such invalidity or unenforceability shall not affect
any other application of such provision nor the balance of the provisions hereof
which shall, to the fullest extent possible, remain in full force and effect,
and such court shall reform such unenforceable provision so as to give maximum


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permissible effect to the intentions of the parties as expressed therein.

         8. SECURITIES. As security for Maker's performance under this Note,
Maker hereby grants Payee a security interest in any and all assets now owned or
hereafter acquired by Maker. In the event of default by Maker hereunder, Payee
shall have all rights with respect to such collateral as are available to a
secured party under the Uniform Commercial Code in the State of Arizona, as the
same may from time to time be changed. Maker agrees to execute and deliver to
Payee and pay the costs of recording financing statements evidencing this
security agreement and other documents necessary or appropriate to perfect this
security interest, and Maker hereby irrevocably appoints Payee as Maker's
attorney-in-fact for the purpose of executing and filing said financing
statements. Maker shall reimburse Payee for all reasonable costs associated with
such filings.

         9. MISCELLANEOUS. The provisions of this Note shall be binding upon
Maker and Maker's personal representatives, successors and assigns, and shall
inure to the benefit of Payee and Payee's successors and assigns. This Note
shall be governed by and construed and enforced in accordance with the laws of
the State of Arizona. The courts of the State of Arizona shall have the sole and
exclusive jurisdiction and venue in any case or controversy arising under this
Note or by reason of this Note. The parties agree that any litigation or
arbitration arising from the interpretation or enforcement of this Note shall be
only in either Maricopa County Superior Court or in the United States Federal
District Court for the District of Arizona, and for this purpose each party to
this Note (and each person who shall become a party) hereby expressly and
irrevocably consents to the jurisdiction and venue of such courts. This Note
shall be construed according to its fair meaning and neither for nor against the
drafting party. Time is of the essence of this Note and each and every term and
provision hereof.

         DATED the date first hereinabove written.


                                   Little Tiger Press USA, L.L.C.,
                                   a New York limited liability company

                                   By: Futech Educational Products, Inc.,
                                       an Arizona corporation, Member

                                       By /s/ Vincent W. Goett
                                          -------------------------------
                                          Vincent W. Goett, CEO

                                   By Magi Publication, a Partnership

                                       By /s/ Manmohan Singh Bhatia
                                          -------------------------------
                                          Manmohan Singh Bhatia, Partner


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ACCEPTED AND AGREED TO
as of the date first shown above, by
the undersigned Payee:

Futech Educational Products, Inc.,
an Arizona corporation

By /s/ Vincent W. Goett
   -------------------------------
   Vincent W. Goett, CEO
'

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