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                                                                  EXHIBIT 10.15

                                      NOTE

$250,000.00                                                 New York, New York
                                                            Date: August 7, 2001

         FOR VALUE RECEIVED, MANHATTAN SCIENTIFICS, INC., a Delaware Corporation
having an address at 641 Fifth Avenue, New York, New York 10022 ("Borrower")
promises to pay to the order of MARVIN MASLOW, an individual ("Payee"), at his
home located at 400 East 70th Street, New York, New York 10021, or at such other
address as to which Payee shall give written notice to Borrower, in lawful money
of the United States of America and in immediately available funds the sum of
two hundred fifty thousand dollars ($250,000.00) on or before August 31, 2002.
Borrower further promises to pay interest at maturity at such address in like
money, from the date hereof on the outstanding principal amount owing hereunder,
at the rate of five and one-half percent (5.5%) per annum. Such interest shall
be computed daily on the basis of a 365 day year.

         If any payment of this Note becomes due and payable on a Saturday,
Sunday or a legal holiday under the laws of the State of New York, the maturity
thereof shall be extended to the next succeeding business day and interest
thereon shall be payable at the rate set forth above during such extension.

         This Note is the "Note" referred to in that certain Loan and Security
Agreement, dated as of August 7, 2001, between Borrower and Payee, as the same
may be amended, modified or supplemented from time to time (the "Loan
Agreement"). All terms used herein which are defined in the Loan Agreement shall
have the meanings given therein, except as otherwise defined herein.

         This Note may be voluntarily prepaid in whole or in part at any time
without penalty.

         Repayment of this Note (among other things) is secured by the
Collateral referred to in the Loan Agreement, and all other instruments
evidencing or securing the indebtedness hereunder, are hereby made part of this
Note and are deemed incorporated herein.

         The following events shall constitute "Events of Default" hereunder:

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                  (a) If Borrower shall fail to pay when due, whether at
maturity, by acceleration or otherwise, the payment of any principal or interest
due hereunder or any other portion of the Obligations (as defined in the Loan
Agreement);

                  (b) If proceedings under any bankruptcy or insolvency law are
commenced by Borrower, or if proceedings under any bankruptcy or insolvency law
are commenced against Borrower and such proceedings are not dismissed within 30
days of commencement thereof, or if a general assignment for the benefit of
creditors of Borrower is made or if a trustee or receiver of Borrower's property
is appointed;

                  (c) Sale of all or substantially all of the assets of
Borrower;

                  (d) An event of default under the Loan Agreement or any other
agreement, instrument or document delivered to Lender by Borrower;

                  (e) Any event or condition shall occur which results in the
acceleration of the maturity of any obligation of Borrower or enables (or, with
the giving of notice or lapse of time or both, would enable) the holder of such
obligation or any person acting on such holder's behalf to accelerate the
maturity thereof;

                  (f) Any agreement, instrument or document delivered to Payee
by Borrower shall terminate or become void or unenforceable without Payee's
written consent.

                  The holder hereof shall be entitled, upon the occurrence of an
Event of Default, and after written notice thereof to Borrower and Borrower's
failure to cure such default within forty-five (45) days, by declaration to such
effect to accelerate payment of the unpaid balance of this Note, in which event
the entire unpaid principal balance hereof, together with all accrued interest,
shall immediately be due and payable.

                  This Note may be modified or cancelled, only by the written
agreement of Borrower and Payee. Failure of the holder hereof to assert any
right herein shall not be deemed to be a waiver thereof.

                  This Note and the rights and obligations of Borrower and Payee
shall be governed by and construed in accordance with the laws of the State of
New York. Venue shall be in the courts located in New York, New York, and the
parties hereby consent to jurisdiction in such forums.

                                                 /s/ MANHATTAN SCIENTIFICS, INC.

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