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                                                                Exhibit: 10.50FT



                            PROMISSORY NOTE AGREEMENT
                          FOR $1.0 MILLION CREDIT LINE
                      TO FUTECH INTERACTIVE PRODUCTS, INC.
                  FROM RODERICK L. TURNER AND VINCENT W. GOETT

June 24, 1998                                                   Phoenix, Arizona

         This Agreement is made and entered into on the date set forth above, by
and between, RODERICK L. TURNER ("TURNER") and VINCENT W. GOETT ("GOETT")
(jointly known as "PAYEE") and FUTECH INTERACTIVE PRODUCTS, INC. ("PROMISOR").
The purpose of this Agreement is to arrange for a short-term operating
loan/credit line by Payee to Promisor and the resulting repayment of principal,
interest and shares of common stock.

RECITAL:

Subject to the terms and conditions of this Agreement:

1.       Payee desires and is willing to provide up to a $1.0 million credit
         line ("LOAN") to Promisor for repayment of PRINCIPAL AND INTEREST at an
         annual interest rate of 10%. The term of the loan is for 6 months
         starting on the first day of the first succeeding month after the loan
         is received by Promisor.

2.       Upon maturity, Promisor will repay principal and interest calculated as
         of that date. If full payment of the Loan is not made at that time,
         interest will continue to accrue at an annual rate of interest of 16%.
         There is no penalty for prepayment of the loan.

3.       Payee reserves the right to convert all or a portion or the outstanding
         principal and interest due and owing to shares of common stock of
         Promisor. The conversion rate will be 20 shares of the Promisor's
         common stock for every one dollar of principal plus interest
         outstanding. The Payee may elect to exercise this conversion option at
         anytime prior to the maturity date of the Loan or up to 180 days after
         the Loan's maturity date if the Promisor has not been able to fulfill
         the outstanding obligation monetarily. The only restriction is the
         Promisor's number of unencumbered shares available for distribution.

4.       In addition to the $1.0 million in principal plus accrued interest that
         will be due and owing by Promisor to the Payee, or as designated by
         Payee, the Promisor agrees to provide the following:

         -        2.0 million stock options for the purchase of Promisor's
                  common stock. The options are granted at an exercise price of
                  $0.05 per share, the options become exercisable one year from
                  the execution date of this Agreement and expire five years
                  from the exercise date. The share options will be issued to
                  Palmilla Management Trust.



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5.       The sum of $100,000.00 will be provided to Goett as a shareholder
         advance/loan as approved by the Shareholder Loan and Master Promissory
         Note for Credit Line Agreement dated January 1, 1997. This amount shall
         be payable to Goett immediately upon receipt of the Loan proceeds.

6.       Promisor desires to receive Loan under all the repayment terms and
         conditions.

NOW, THEREFORE, in consideration of the Agreement, covenants, and undertakings
contained below, it is mutually agreed as follows:

1.       Payee agrees to arrange for and provide to Promisor a $1.0 million loan
         per the terms and conditions previously stated.

2.       Promisor agrees to receive the $1.0 million loan from Payee and to
         repay all monies, stock options and shareholder advances/loans per the
         terms and conditions of this Agreement.

REPRESENTATIONS OF PAYEE

         Payee represents, warrants and covenants as follows:

         1. Payee is familiar with the business and affairs of Promisor and
realizes an investment in the shares involves a high degree of risk.

         2. Payee has been advised that there will be no public market for the
shares; it may not be able to readily liquidate its investment; the shares have
not been registered or qualified under Federal or State laws governing the
issuance of securities; and Promisor has no current intention of registering the
shares or reporting under the Act or any comparable or related Federal or State
law.

         3. Payee is an accredited investor and acknowledges that its overall
commitment to investments which are not readily marketable is not
disproportionate to its net worth; and its investment in the shares will not
cause such overall commitment to become excessive; that Payee has adequate means
of providing for its current needs and personal contingencies, and has no need
for liquidity of this investment; that Payee has evaluated the risk of investing
in Promisor; that Payee is aware of the financial risks and possible financial
hazards of purchasing the shares and it has carefully considered these risks of
the investment, including the possibility of a complete loss thereof.

         4. Payee agrees the stock is subject to a Stock Restrictions and Sale
Agreement. The shares acquired under this Agreement shall be subject to that
Stock Restrictions and Sale Agreement, as it may be amended from time to time.

SURVIVAL

The representations, warranties and covenants contained in the section
Representations of Payee shall survive the transfer of the shares.

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ATTORNEYS' FEES

The prevailing party in any action to enforce the terms and conditions hereof
shall be entitled to recover its reasonable attorneys' fees and court costs.

CONSTRUCTION

Where the context of this Agreement requires, the singular shall be construed as
the plural, and neuter pronouns shall be construed as masculine and feminine
pronouns, and vice versa. This Agreement shall be construed according to its
fair meaning and neither for nor against any party hereto. This Agreement shall
be governed by and construed in accordance with Arizona law.

Futech Interactive Products, Inc. ("Promisor")

/s/ Vincent W. Goett
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Vincent W. Goett
Chairman and CEO

             === This Agreement consists of a total of 3 pages ===

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