EXHIBIT 10.50

THIS NOTE IS ONLY  CONVERTIBLE  INTO  SHARES OF COMMON  STOCK  UPON  SHAREHOLDER
APPROVAL TO INCREASE ITS  AUTHORIZED  AND THE COMPANY CANNOT GIVE ANY ASSURANCES
THAT IT WILL  RECEIVE  SHAREHOLDER  APPROVAL.  IN THE EVENT THE COMPANY DOES NOT
RECEIVE SHAREHOLDER  APPROVAL TO INCREASE ITS AUTHORIZED COMMON STOCK, THIS NOTE
WILL NOT BE A CONVERTIBLE INSTRUMENT.

THIS NOTE OFFERED  HEREBY HAS NOT BEEN  REGISTERED  UNDER THE  SECURITIES ACT OF
1933, AS AMENDED,  OR THE SECURITIES LAWS OF CERTAIN STATES AND IS BEING OFFERED
AND SOLD IN RELIANCE ON EXEMPTIONS  FROM THE  REGISTRATION  REQUIREMENTS OF SAID
ACT AND SUCH LAWS. THIS NOTE (AND ANY SECURITIES  ISSUED UPON CONVERSION OF THIS
NOTE) IS SUBJECT TO  RESTRICTIONS ON  TRANSFERABILITY  AND RESALE AND MAY NOT BE
TRANSFERRED OR RESOLD EXCEPT AS PERMITTED  UNDER SAID ACT AND SUCH LAWS PURSUANT
TO REGISTRATION  OR EXEMPTION  THEREFROM.  THIS NOTE (AND ANY SECURITIES  ISSUED
UPON  CONVERSION  OF THIS  NOTE) HAS NOT BEEN  APPROVED  OR  DISAPPROVED  BY THE
SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER
REGULATORY  AUTHORITY,  NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR
ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF ANY OFFERING
MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

                         10% CONVERTIBLE PROMISSORY NOTE

$_______                                                     February __, 2004

     For value received CEDRIC KUSHNER PROMOTIONS,  INC., a Delaware corporation
("Payor" or the "Company") promises to pay to  ________________,  or its assigns
("Holder")  the  principal  sum of $________  with  interest on the  outstanding
principal  amount at the rate of 10% per annum,  compounded  annually based on a
365-day year.  Interest with respect to this  promissory note (the "Note") shall
commence with the date hereof and shall  continue on the  outstanding  principal
until paid in full.  Principal  and  accrued  interest  shall be due one hundred
twenty (120) calendar days after the date hereof (the "Maturity Date").

     1. All payments of interest and  principal  shall be in lawful money of the
United  States of  America.  All  payments  shall be  applied  first to  accrued
interest and  thereafter to principal.  All payments shall be made to the Holder
at the address set forth in the  questionnaire  to the Note and Warrant Purchase
Agreement (the "Note and Warrant Purchase  Agreement") being entered into by the
Holder and Company of even date herewith.

     2. In the event the  principal  amount of this Note,  together with accrued
but unpaid  interest,  is not paid on or before the Maturity  Date,  the Company
shall  have an  additional  thirty  (30)  calendar  days in which to pay off the
principal and accrued but unpaid interest. In the event

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the principal amount of this Note, together with accrued but unpaid interest, is
not paid on or before the one hundred  fiftieth  (150th)  calendar day after the
date hereof,  the Holder shall convert the outstanding  principal amount of this
Note,  together with accrued but unpaid interest,  into that number of shares of
the Company's  common stock equal to the  outstanding  principal  amount of this
Note, together with accrued but unpaid interest,  divided by eighty-five percent
(85%) of the five day average  closing bid price of the  Company's  common stock
for the five trading day period  immediately  preceding the company's receipt of
the Holder's  notice to convert,  with a maximum  conversion  price of $0.50 per
share and a minimum conversion price of $0.30 per share.

     In order to convert,  the Holder must send  written  notice to the Company,
and the  Company  shall  deliver the shares of common  stock to the Holder,  per
Holder's written  instructions,  within ten (10) calendar days of receipt of the
Holder's  written  notice.  The common stock shall have  piggyback  registration
rights to be  included  in the next  registration  statement  to be filed by the
Company.

     NOTWITHSTANDING THE FOREGOING, ON THE DATE HEREOF, THERE ARE NOT SUFFICIENT
SHARES OF COMMON  STOCK OF THE  COMPANY  RESERVED TO ISSUE SUCH SHARES OF COMMON
STOCK OF THE  COMPANY IF THIS NOTE WAS  CONVERTED  ON THE DATE  HEREOF.  IF SUCH
NUMBER OF SHARES OF COMMON  STOCK OF THE COMPANY  ARE FOR ANY REASON  WHATSOEVER
STILL NOT  AVAILABLE TO BE ISSUED BY THE COMPANY AT THE TIME OF SUCH EVENT,  THE
COMPANY SHALL SO ISSUE SUCH SHARES OF COMMON STOCK AS SOON AS PRACTICABLE.

     3. This Note shall be governed by and construed in accordance with the laws
of the State of New York relating to contracts  entered into and to be performed
wholly within such State.  Each party hereto hereby  irrevocably  submits to the
jurisdiction  of any New York State court or United States Federal court sitting
in New York County over any action or  proceeding  arising out of or relating to
this  Note  or  any  agreement   contemplated  hereby,  and  each  party  hereby
irrevocably  agrees that all claims in respect of such action or proceeding  may
be heard and  determined  in such New York  State or Federal  court.  Each party
hereto  further waives any objection to venue in such State and any objection to
an action or  proceeding in such State on the basis of a  non-convenient  forum.
The Purchaser  further agrees that any action or proceeding  brought against the
Company shall be brought only in New York State or United States  Federal courts
sitting in New York County.  EACH PARTY  HERETO  AGREES TO WAIVE ITS RIGHTS TO A
JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION  BASED  UPON OR  ARISING  OUT OF THIS
AGREEMENT OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.

     4. Any notices or other  communications  required or  permitted to be given
under the terms of this Note must be in writing  and will be deemed to have been
delivered (a) upon receipt,  when delivered  personally;  (b) upon receipt, when
sent by facsimile  (provided  confirmation  of  transmission  is mechanically or
electronically  generated and kept on file by the sending party); or (c) one (1)
day after deposit with a nationally  recognized  overnight delivery service,  in
each

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<PAGE>
case  properly  addressed to the party to receive the same.  The  addresses  and
facsimile numbers for such communications shall be:

If to the Company:  Attention:  Jim DiLorenzo,  Cedric Kushner Promotions,  Inc.
1414  Avenue of the  Americas,  Suite  1402,  New  York,  New York  10019  (tel)
212-755-1944, (fax) 212-755-1989.

If to Holder:  at the  address  set forth on the  questionnaire  to the Note and
Warrant Purchase  Agreement being entered into by the Holder and Company of even
date herewith

     5. Payor hereby waives demand, notice,  presentment,  protest and notice of
dishonor.

     6. The terms of this Note shall be construed in accordance with the laws of
the  State  of New  York,  as  applied  to  contracts  entered  into by New York
residents  within the State of New York,  which  contracts  are to be  performed
entirely within the State of New York.

     7. Any term of this Note may be amended or waived with the written  consent
of Payor and Holder and is subject to the  provisions  set forth in the Note and
Warrant  Purchase  Agreement,  including,  without  limitation,  the  provisions
concerning  transfer of this Note by the Holder. The Payor may prepay all or any
part of the  principal sum of this Note at any time or from time to time without
penalty at its sole discretion, provided that such principal prepayment shall be
accompanied by all interest then accrued.



                                                 CEDRIC KUSHNER PROMOTIONS, INC.




                                                  By: /s/ Cedric Kushner
                                                      ------------------
                                                      Cedric Kushner, President

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