EXHIBIT 10.7


                            EXECUTIVE TELECARD, LTD.


                                 Promissory Note


                                                              New York, New York

                                                                   June 17, 1999


         Executive  TeleCard,  Ltd., a Delaware  corporation (the "Maker"),  for
value  received,  promises to pay,  subject to the terms and  conditions of this
Note, to American United Global, Inc. (the "Holder"),  the principal sum of Five
Hundred  Thousand  ($500,000)  with simple  interest on the  outstanding  unpaid
principal  amount accruing from the date hereof until this Note is paid in full,
at the rate of interest  for each month equal to the prime rate of interest  for
such month at the bank where the Maker maintains its principal bank account,  or
if there is no such bank, at the average of the prime rates of the three largest
banks in the United States of America (the "Prime Rate").  All interest  payment
calculations  required  hereunder  shall be  computed on the basis of the actual
number of days elapsed over a year comprised of 365 days.

     1.  Payments

         1.1  Principal (and any accrued but unpaid  interest)  shall be due and
payable  (1)  commencing  on  September 1, 1999 in  twelve  (12)  equal  monthly
installments or (2) in full on the first date (subsequent to the date hereof) on
which (x) the Maker receives in any  transaction  or series of  transaction  any
equity or debt financing of at least fifty million dollars  ($50,000,000) or (y)
the Vogo Networks LLC  subsidiary of the Maker  receives in any  transaction  or
series of  transaction  any equity or debt  financing  of at least five  million
dollars ($5,000,000)

         1.2  Payments of  principal  and interest of this Note shall be made to
the Holder at American United Global, Inc., c/o Gersten, Savage & Kaplowitz LLP,
101 E. 52nd Street,  New York, NY 10022 or such other place or places within the
United States as may be specified by the Holder of this Note in a written notice
to the Maker at least 10 business days before a given payment date.

         1.3  Payments of  principal  and interest on this Note shall be made in
lawful  money of the United  States of America by mailing the Maker's good check
in the  proper  amount to such  Holder to arrive  prior to or on the due date of
such


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payment or  otherwise  transferring funds so as to be received by such Holder on
the due date of such payment. Interest payment shall be made monthly.

         1.4 If any payment on this Note  becomes due and payable on a Saturday,
Sunday or other day on which commercial banks in New York City are authorized or
required by law to close,  the  maturity  thereof  shall be extended to the next
succeeding  business  day,  and no interest  on the  principal  amount  shall be
payable during such extension.

         1.5 In no event shall the amount of interest  due or payable  hereunder
exceed the maximum  rate of interest  allowable  by  applicable  law, and in the
event any such  payment is  inadvertently  paid by the Maker,  or  inadvertently
received  by the  Holder,  then such  excess  shall be  credited as a payment of
principal.  It is the  express  intent  hereof  that the Maker not pay,  and the
Holder not receive, directly or indirectly in any manner whatsoever, interest in
excess of that which may be legally paid by the Maker under applicable law.

      2. Security.

             The   principal  and  interest  payments  under this  Note shall be
secured by,  and the Maker  will  cause Vogo at the  Closing (as  defined in the
Asset Purchase  Agreement  dated July 10,  1998,  as  amended,  to  which  Maker
and the Holder are parties) to  grant  a  security  interest  in, all  chattels,
assets and property  being  acquired  by  Vogo  Networks  LLC  ("Vogo")  at  the
Closing (as  generally  described  in  Exhibit A),  wherever  located,  and  all
products  and proceeds thereof. This security interest  will be  granted to  the
Holder  to secure the  payment  of  the  indebtedness  evidenced  by  this  Note
(including all renewals, extensions and modifications thereof).

      3. Subordination of Note

             The  principal  and  all  interest  due  under  this  Note shall be
subordinated  in all respects to the debt  obligations of the Maker and Vogo set
forth on Exhibit B; provided, however, that such subordination shall not prevent
this Note from becoming fully due and payable under Section 1.1 of this Note.

      4. Subordination of Security Interest

             The  security interest granted under this Note shall not be a first
priority  security  interest,  but shall be (1)  subordinated in all respects to
security interests granted (previously or in the future) with respect to (i) the
obligations  described  in  paragraphs  1  and  2 of  Exhibit  B  and  (ii)  the
obligations  being  assumed  by Vogo at the  Closing  under the  Asset  Purchase
Agreement  dated July 10,  1998,  as amended,  to which Maker and the Holder are
parties, and any interest,  penalties or

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other amounts which may accrue thereon,  and (2) pari passu in all respects with
security  interests granted  in  connection  with  future  indebtedness of Vogo;
provided,  however, that such subordination or pari  passu  treatment  shall not
prevent this Note from  becoming  fully due and  payable  under  Section  1.1 of
this Note.

      5. Reduction and Cancellation of Note.

         5.1 If the Holder  shall fail to make  payment  under the AUGI Note (as
defined in the Asset  Purchase  Agreement  dated July 10, 1998,  as amended) the
principal balance under this Note shall be reduced by $200,000, and all interest
accrued on such $200,000 shall be rescinded and cease to be accrued.

         5.2 Upon  payment in full in  accordance  with  Section 1 hereof of all
outstanding  obligations under this Note, the Maker's  obligations in respect of
payment of this Note shall terminate and the Holder shall surrender this Note to
the Maker.

         6. Events of Default.

            In the event that:

            (a)  Maker  defaults  for  more  than  five (5)  business days after
receipt of written notice of failure to make any payment  required to be made on
this Note or any other note issued by the Maker in favor of the Holder; or

            (b)  The Maker: (i)  commences  any case, proceeding or other action
(1) under  any  existing  or  future  law  of  any  jurisdiction,  domestic   or
foreign,  relating  to  bankruptcy,  insolvency,  reorganization  or  relief  of
debtors,  seeking to have an order for relief entered with respect to the Maker,
or  seeking  to  adjudicate  the  Maker a  bankrupt  or  insolvent,  or  seeking
reorganization,  arrangement,  composition  or other  relief with respect to the
Maker or its debts or (2) seeking appointment of a receiver,  trustee, custodian
or other similar  official for the Maker or for all or any  substantial  part of
the Maker's  assets,  or shall make a general  assignment for the benefit of its
creditors;  or (ii) is the debtor named in any other case,  proceeding  or other
action of a nature  referred  to in clause  (i) above  which (1)  results in the
entry of an order for  relief or any such  adjudication  or  appointment  or (2)
remains undismissed,  undischarged or unbonded for a period of thirty (30) days;
or (iii)  takes any action in  furtherance  of, or  indicating  its  consent to,
approval  of, or  acquiescence  in,  any of the facts set forth in clause (i) or
(ii) above;  or (iv) shall  generally not, or shall be unable to, or shall admit
in writing its inability to, pay its debts as they become due;  then, and in any
such event (an "Event of Default"),  and at any time  thereafter,  the Holder of
this  Note  may,  by  written  notice to the  Maker,  declare  this Note due and
payable,  whereupon  this Note  shall be due and  payable

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without  presentment, demand,  protest or other notice of any kind, all of which
are hereby  expressly waived.

     7.  Miscellaneous.

         7.1 Upon receipt of evidence  reasonably  satisfactory  to the Maker of
the  loss,  theft,  destruction  or  mutilation  of this Note and of a letter of
indemnity   reasonably   satisfactory   to  the  Maker  and  upon  surrender  or
cancellation  of the Note, if  mutilated,  the Maker will make and deliver a new
Note of like tenor in lieu of such lost, stolen, destroyed or mutilated Note.

         7.2 This  Note and the  rights  and  obligations  of the  Maker and any
Holder  hereunder  shall be construed in accordance  with and be governed by the
internal laws of the State of New York.

         7.3 Time is of the essence of this Note. If any provisions of this Note
or the  application  thereof to any person or  circumstance  shall be invalid or
unenforceable  to any extent,  the remainder of this Note and the application of
such provisions to other persons or circumstances  shall not be affected thereby
and shall be enforced to the greatest extent permitted by law.

         7.4 All  notices  to be given  under this Note shall be mailed by first
class mail,  postage  prepaid,  or telegraphed or telexed with  confirmation  of
receipt or delivered by hand or by overnight delivery service:

         i.  If to the Maker, at:

         Executive Telecard, Ltd.
         2000 Pennsylvania Avenue, N.W.
         Washington, DC 20006

         ii.  if to the Holder at the address set forth in Section 1.2.

or at such other address as it may have furnished in writing to the other party.
Any notice so addressed,  when mailed by  registered or certified  mail shall be
deemed to be given three days after so mailed, when telegraphed or telexed shall
be deemed to be given when  transmitted,  or when delivered by hand or overnight
shall be deemed to be given when delivered.


                            [Signature on next page]


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         IN WITNESS WHEREOF,  the Maker has executed this Note as of the day and
year first above written.


                                          EXECUTIVE TELECARD, LTD.




                                          By:______________________________
                                          Name:____________________________
                                          Title:___________________________












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