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                                                                   Exhibit 10.36
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                                PROMISSORY NOTE

$347,875                                                       Golden, Colorado
                                                                  July 25, 2001

                  FOR VALUE RECEIVED, and at the times hereinafter specified,
the undersigned Gerald D. Van Eeckhout ("Maker") hereby promises to pay to the
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order of ACT Teleconferencing, Inc., a Colorado corporation (hereinafter
referred to, together with each subsequent holder hereof, as "Holder"), at 1658
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Cole Boulevard, Suite 130, Golden, Colorado 80401, or at such other address as
may be designated from time to time hereafter by Holder, the principal sum of
THREE HUNDRED FOURTY SEVEN THOUSAND EIGHT HUNDRED SEVENTY FIVE AND NO/100THS
DOLLARS ($347,875.00), together with interest on the principal balance
outstanding from time to time, as hereinafter provided, in lawful money of the
United States of America.

                  This note is secured by full recourse to the tangible
personal property owned by Maker in accordance with the Security Agreement
dated July 25, 2001.

                  The principal outstanding from time to time hereunder shall
bear interest at 6.0 percent per annum. This interest is payable at the end of
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each calendar quarter, beginning December 31, 2001. Any outstanding principal
balance hereof, together with all accrued but unpaid interest, shall be due and
payable on November 1, 2006.

                  Maker may prepay this note at any time in whole or in part,
with accrued interest to the date of such payment on the amount prepaid,
without premium or penalty. No partial prepayment shall relieve Maker of the
obligation to pay the remaining principal or interest thereon when due
hereunder. No amount which has been prepaid shall thereafter be available for
borrowing again at a later time.

                  Any default in payment of any sum due hereunder or
performance of any covenant or agreement herein contained, which default is not
cured within 10 days, shall constitute an event of default hereunder. Upon the
occurrence of any event of default, the entire balance of principal, accrued
interest, and other sums owing hereunder shall, at the option of Holder, become
at once due and payable without notice or demand. Any payment not made when due
hereunder, including the interest component thereof, by acceleration or
otherwise, shall bear interest from the date due until paid at a rate equal to
8.0% per annum (the "Default Rate"). All payments hereunder shall, at Holder's
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option, be applied first to the payment of accrued and unpaid interest at the
Default Rate on any payments that are in default; followed by payment of
accrued and unpaid interest through the date of default; and then to the
reduction of principal.

                  Maker and all parties now or hereafter liable for the payment
hereof, primarily or secondarily, directly or indirectly, and whether as
endorser, guarantor, surety, or otherwise, hereby
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severally (a) waive presentment, demand, protest, notice of protest and/or
dishonor, and all other demands or notices of any sort whatsoever with respect
to this note, (b) consent to impairment or release of collateral, extensions of
time for payment, and acceptance of partial payments before, at, or after
maturity, (c) waive any right to require Holder to proceed against any security
for this note before proceeding hereunder, (d) consent to the release of any
other party liable hereunder, without diminishing or in any way affecting their
liability hereunder, and (e) agree to pay all costs and expenses, including
attorneys' fees and expenses, which may be incurred in the collection of this
note or any part thereof or in preserving, securing possession of, and
realizing upon any security for this note.

                  In the event action is necessary to collect any interest or
principal due to enforce Holder's rights under Security Agreement, Maker is
required to pay all costs of collection, including reasonable attorney's fees.

                  If any provision hereof or of any other document securing or
related to the indebtedness evidenced hereby is, for any reason and to the
extent, invalid or unenforceable, then neither the remainder of the document in
which such provision is contained, nor the application of the provision to
other persons, entities, or circumstances, nor any other document referred to
herein, shall be affected thereby, but instead shall be enforceable to the
maximum extent permitted by law.

                  This note may not be amended or modified except by an
instrument in writing signed by the party against whom enforcement of any
amendment or modification is sought. Each provision of this note shall be and
remain in full force and effect notwithstanding any negotiation or transfer
hereof to any other Holder or participant. Regardless of the place of its
execution, this note shall be construed and enforced in accordance with the
laws of the State of Colorado.

                                       MAKER:

                                       ________________________________________
                                            Gerald D. Van Eeckhout

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