Filed by Automated Filing Services Inc. (604) 609-0244 - Bodytel Scientific Inc. - Exhibt 10.2






LINE OF CREDIT PROMISSORY NOTE

	ISSUED TO: 	
      Ferro Group Ventures, Inc. 

	  	
      IPASA Building, 3rd Floor 

		
      41 Balboa Avenue  

	  	
      Panama City 

	  	
      Panama 

	  	
       

		
      (the “Lender”)  

	  	
       

	ISSUED BY: 	
      BODYTEL SCIENTIFIC INC. 

	  	
      One Independent Drive 

	  	
      Suite 1701 

	  	
      Jacksonville, FL 32202 

	  	
       

		
      (the “Borrower”)  

	  	
       

	AMOUNT: 	
      $2,500,000 



1. PROMISE TO PAY. For value received, the
Borrower hereby promises to pay to or to the order of the Lender at its place of
business noted above, the amount advanced to Borrower by Lender, which shall not
exceed the principal amount of two million, five hundred thousand US Dollars
($2,500,000) (the “Loan”) in the manner hereinafter provided together with
interest and other monies which may from time to time be owing hereunder or
pursuant hereto. All amounts advanced to Borrower by Lender shall be entered on
the Schedule of Advances and Payments of Principal (the “Schedule”) attached to
this Note and incorporated herein by this reference.

2. INTEREST. The amount of principal that has
been advanced and is outstanding from time to time, shall be non-interest
bearing up until October 31, 2008. Commencing November 1, 2008 (“Interest
Bearing Date”), the amount of principal that has been advanced and is
outstanding from time to time, shall bear interest at TEN PERCENT (10.0%) per
annum calculated and compounded annually from the Interest Bearing Date.

3. REPAYMENT. The outstanding principal amount of
the Loan together with all accrued and unpaid interest and all other amounts
outstanding hereunder shall become due and payable in full on February 28, 2009
(“Maturity Date”). At the request of the Borrower, the Lender may, at its
option, extend the Maturity Date for an additional 12 months.

4. INTEREST CALCULATION. Interest at the rates
provided by this Promissory Note is calculated not in advance and payable after
as well as before maturity both before and after default and both before and
after judgment.

5. PREPAYMENT. The Borrower may prepay the Loan
in whole or in part without penalty or prepayment compensation.

6. NO OBLIGATION TO ADVANCE. Neither the
execution and delivery of this Promissory Note (nor any advance made under this
Promissory Note) shall obligate the Lender to make any (further) advance of
funds hereunder.

7. DEFINITIONS. “Business Day” means any day
except Saturday or Sunday, that chartered banks are open for business in New
York, New York.




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8. INTERPRETATION. Words importing the singular
number only include the plural and vice versa and words importing gender shall
include all genders and words importing persons include individuals,
partnerships, corporations, trusts, unincorporated associations, joint ventures,
government agencies and other entities.

9. NOTICE. Except as otherwise provided herein,
any notice, statement or other communication herein required or permitted to be
given shall be in writing, any notice or other document herein required or
permitted to be given or delivered to the Borrower may be personally given or
delivered to the Borrower or sent by facsimile or Federal Express to the
Borrower at the address (including facsimile number) of the Borrower set out
above or such other address (including facsimile number) as the Borrower may
designate to the Lender by notice in writing and any notice or other document
herein required or permitted to be given or delivered to the Lender shall be
personally delivered to the Lender at the address set out above or to such other
address as the Lender may designate to the Borrower by notice in writing; and
any notice or other document: (a) if sent to the Borrower by mail, shall be
deemed to have been given to the Borrower at the expiration of the fifth
Business Day after the date of mailing, unless there exists at the time of
mailing, or within five Business Days thereafter, a labour dispute or other
event which would adversely affect the normal delivery of such notice or other
document by Federal Express in which case such notice or other document will
only be deemed to be given or delivered when actually given or delivered; and
(b) if sent by facsimile shall be deemed to be delivered on the day of
transmission if sent during business hours at the destination on the day of
transmission and otherwise on the next Business Day.

10. SUCCESSORS AND ASSIGNS. This Promissory Note
shall be binding upon the Borrower and its successors and shall enure to the
benefit of the Lender and its successors and assigns. Any reference herein to
the Lender shall include its successors and assigns as if specifically named.
This Promissory Note is a negotiable instrument. Presentment for payment,
demand, protest, notice of protest and notice of dishonor of this Promissory
Note are hereby waived.

IN WITNESS WHEREOF the Borrower has executed this Promissory
  Note by the hand of its duly authorized officer in that behalf this 6th day
  of March, 2008 in Bad Wildungen, Germany (Location Outside of Florida).

BODYTEL SCIENTIFIC INC.

	 By: 	/s/
      Stefan Schraps	 
	 	 Name: 	Stefan Schraps	 
	 	 Title: 	CEO & President	 


The foregoing affidavit was sworn to before me this _____day of
________________, 2008, in ____________, ___________.

	 	 	 
	 Notary Public, State of 		 
	 My commission expires: 		 






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SCHEDULE OF ADVANCES AND PAYMENTS OF PRINCIPAL 
FOR
THE
LINE OF CREDIT PROMISSORY
NOTE

March 6, 2008

MADE
BY
BODYTEL SCIENTIFIC
INC. (AS BORROWER)

IN FAVOR OF 
FERRO GROUP
VENTURES, INC. (AS
LENDER)


	ENTRY NUMBER 	DATE 	AMOUNT OF ADVANCE
    	PRINCIPAL PAYMENT
    	PRINCIPAL AMOUNT
      OUTSTANDING 	APPROVING
      PERSON’S INITIALS 
	   1. 	11/09/2007 	500,000.00$ 	  	  	  
	   2. 	12/28/2007 	249,736.33$ 	  	  	  
	   3. 	02/06/2008 	340,000.00€ 	  	  	  
	   4. 	02/06/2008 	170,000.00€ 	  	  	  
	   5. 	02/27/2008 	359,460.00$ 	  	  	  
	   6. 	03/06/2008 	375,600.00$ 	  	  	  
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	   20.