Document:

EXHIBIT 10.97

                                 PROMISSORY NOTE

$250,000.00                                                        MARCH 5, 2004

ULTRASTRIP SYSTEMS, INC., a Florida corporation ("Maker") (Maker and each
endorser, surety or guarantor, are collectively herein called "Obligor"),
promises to pay to the order of ROBERT IPPOLITO, ("Lender"; Lenders and each and
all subsequent holders of this note are included in the terms "Holder"), at 731
SW Whisper Ridge Trail, Palm City 34990(or at such other place as the Holder
hereof may designate), the sum of TWO HUNDRED AND FIFTY THOUSAND AND 00/00
DOLLARS ($250,000.00) with interest at the Applicable Interest Rate, as defined
below. Interest on principal will accrue at the Applicable Interest Rate from
March 8, 2004 at the rate of 1/360th of annual interest for each day that
principal is outstanding; provided, however, in no event shall interest be due
at a rate in excess of the maximum permissible legal rate.

 Principal and interest shall be payable as follows:

         a.       The entire outstanding principal balance of the note and
                  interest shall be due and payable in full on or before April
                  8, 2004 (the "Maturity Date").

         b.       The "Applicable Interest Rate" shall be four percent (4%) per
                  annum.

As used in this instrument, the term "Obligations" shall refer to the
indebtedness represented by this note and all modifications, renewals and
substitutions hereof.

The happening of any of the following events shall constitute a default
hereunder: (1) failure of Obligor to pay in full when due any indebtedness,
obligation, or liability to the Holder whatsoever, or any installment thereof or
interest thereon; (2) failure of Obligor to perform any agreement hereunder; (3)
the Holder learns that any warranty, representation, certificate or statement of
Obligor (whether contained in this note or not) pertaining to or in connection
with this note or the loan or credit evidenced by this note, is not true; (4)
Obligor becomes insolvent or any insolvency proceedings (as said terms
"insolvent" and "insolvency proceedings" are defined in the Uniform Commercial
Code of Florida) are instituted or made by or against Obligor, or application is
made for the appointment of a receiver for Obligor or for any of the assets of
Obligor; (5) the entry of a judgment against Obligor; (6) the issuing of any
levy, attachment or garnishment, or the filing of any lien against any property
of Obligor; or (7) the dissolution, merger, consolidation, or reorganization of
Obligor.

Upon the happening of any default as defined herein the entire amount of this
note remaining unpaid, shall, at the option of the Holder and without notice or
demand, become due and payable forthwith or thereafter. In the event of any
default hereunder, after deducting any paid and unaccrued or paid and unearned
interest from the principal balance then due, the then unpaid principal balance
hereof and any accrued and unpaid interest shall bear interest from the time of
such default at the maximum legal rate permissible (the "Default Rate"), and,
regardless of the payment terms of the note, and all unpaid interest from the
time of such default may be compounded on a monthly basis, the first such
compounding to be made 30 days after the default and, thereafter, on the same
date of each subsequent month until all Obligations have been paid in full. In
no event and under no circumstances shall there be due hereunder, nor shall the
Holder be entitled hereunder to receive at any time, any charges not allowed or
permitted by law or any interest or interest rate in excess of the maximum
allowed by law. In the event that the amount of any charge or payment due
hereunder shall create or shall be deemed to create an interest charge in excess
of the maximum permissible legal rate, then the charge of any such excess amount

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shall be deemed unenforceable and void and its collection shall be waived,
without affecting the remainder of the Obligations evidenced hereby, and any
such excess amount which may have been paid to the Holder shall be refunded.

In the event the Holder shall be required at any time to pay documentary stamp
tax, intangible tax, or other taxation with respect to all or part of the Loan
or any other transaction contemplated or evidenced by this note, the Obligor
shall reimburse the Holder immediately for all such costs, including any
interest and penalties with respect thereto.

With respect to any and all Obligations, the Obligor waives the following: (1)
demand, presentment, protest, notice of dishonor, suit against any party and all
other requirements necessary to charge or hold Obligor liable on any Obligation;
(2) any further receipt for or acknowledgment of the Collateral now or hereafter
deposited or statement of indebtedness; (3) the right to interpose any set-off
or counterclaim of any nature or description in any litigation in which the
Holder and Obligor shall be adverse parties. The Obligor agrees that any
Obligations of Obligor may, from time to time, in whole or in part, be renewed,
extended, modified, accelerated, compromised, discharged or released by the
Holder, all without notice to or further reservations of rights against Obligor
and all without in any way affecting or releasing the liability of Obligor. The
Obligor agrees to pay all taxes and assessments levied on or with respect to the
Obligations, this note, including but not limited to intangible and documentary
stamp taxes, and all filing fees and taxes and all costs of collecting or
securing or attempting to collect or secure any Obligations, including
attorneys' fees, whether or not involving litigation and/or appellate
proceedings.

The Holder shall not by any act, delay, omission or otherwise be deemed to have
waived any of its rights or remedies, and no waiver of any kind shall be valid,
unless in writing and signed by the Holder. All rights and remedies of the
Holder under the terms of this note and under any statutes or rules of law shall
be cumulative and may be exercised successively or concurrently. The Obligor
agrees that the Holder shall be entitled to all the rights of a holder in due
course of a negotiable instrument. This note shall be governed by and construed
in accordance with the laws of the State of Florida. Any provision of this note,
which may be unenforceable or invalid under any law, shall be ineffective to the
extent of such unenforceability or invalidity without affecting the
enforceability or validity of any other provision hereof. Any notice required to
be given to any person shall be deemed sufficient if mailed, postage prepaid, to
such person's address as it appears on this note, or, if none appears, to any
address in the Holder's files. The Holder shall have the right unilaterally to
correct patent errors in this note and to fill in any blank spaces herein so as
to conform to the terms upon which the loan evidenced hereby is made.

The Obligor shall be liable for all indebtedness represented by this note and
have subscribed their names hereto without condition that anyone else should
sign or become bound hereon and without any other condition whatever being made.
The provisions of this note are binding on the heirs, executors, administrators,
assigns and successors of Obligor and shall inure to the benefit of the Holder,
its successors and assigns. This note is executed under the seal of the Obligor.

This promissory note constitutes and evidences the complete understanding
between the Holder and the Obligor. All prior and contemporaneous discussions
between the Holder and the Obligor, including all representations and promises
by the Holder, whether oral or written, concerning the Obligations, are included
in and merged in this note. Any modification thereof hereafter which is not in
writing and signed by the Holder and the Obligor shall be void, except that the
Holder may in its sole discretion extend the maturity of the loan evidenced by
this note for a term specified in a written notification mailed to the Obligor
at its address shown on the Holder's records. The Holder may rely on the

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information, instructions, or other communications (including requests for and
directions concerning loan advances) given to the Holder by the Obligor.

Notwithstanding anything herein to the contrary, Holder agrees, by acceptance of
this note, to forbear acceleration of the unpaid principal balance hereof (a)
for a period of 10days for the failure of the Obligor to make a payment when due
hereunder. Such forbearance shall not deny or in any way mitigate the occurrence
of a default, unless the Obligor, within the applicable forbearance period,
cures such default to Holder's satisfaction, in which event the Loan shall
thereupon be reinstated and restored to good standing in all respects, including
the interest rate hereon, effective as of the date of the default.

No invalid provision of this note shall affect or impair any other provision.
Maker and Obligor acknowledge receipt of a completed copy of this Note.

THE OBLIGOR AND, BY ITS ACCEPTANCE HEREOF, THE HOLDER, EACH HEREBY WAIVES (1)
ALL RIGHTS TO RELY ON OR ENFORCE ANY ORAL STATEMENTS MADE PRIOR TO,
CONTEMPORANEOUSLY WITH OR SUBSEQUENT TO THE SIGNING OF THIS PROMISSORY NOTE; AND
(2) THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS PROMISSORY NOTE, OR WITH
RESPECT TO DEALINGS BETWEEN THE HOLDER AND THE OBLIGOR CONCERNING ANY COURSE OF
CONDUCT, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF EITHER PARTY. THIS
PROVISION IS A MATERIAL INDUCEMENT FOR THE HOLDER TO PROVIDE CREDIT TO THE
OBLIGOR.

Lender                                        UltraStrip Systems, Inc.

                                              By:
---------------                                  -------------------------------
Robert Ippolito                                  Stephen R. Johnson, President

                                              Personal Guarantor

                                              By:
                                                 -------------------------------
                                                 Dennis McGuire

                                       3EXHIBIT 10.98

                            JOINT VENTURE AGREEMENT

(Preamble)

The under-noted joint venture partners have established UltraStrip Japan Ltd.
based on law of Japan in order to promote and operate business undertaking in
accordance with the purpose and framework provided in The Article of
Incorporation and this Joint Venture agreement hereby reached an agreement as
hereunder.

(Joint Venture Partner)

Article 1 The under-noted joint venture partners shall be party to this contract
who shall achieve the business objectives of company establishment through
synergistic effect of contribution of given characteristic, expertise and
business experience.

UltraStrip Systems, Inc. : To provide equipment system, technology and
know-how necessary for operation and business activities. The company is engaged
in commercialization in U.S.A. of proprietary closed, looped and robotic ultra
high pressure water jet process to remove paints from steel structures.

Kamimura International Associates, LLC : To provide support as consultant
utilizing real business experiences in establishing, nurturing and managing
international joint ventures. To support contacts between public agencies, trade
associations, ship-owners, shipyards and paint manufacturers etc.

Ihara Company, Ltd. : To provide support utilizing their commercial truck record
of ship paint stripping and maintenance operation in Japan by high pressure
water jet process which corresponds to the business objective of the Company.

Kyokuto Boeki Kaisha, Ltd. : To supplement credit standing of the Company as a
public company whose stock shares are traded at Tokyo First Tier Stock Exchange.
To act as intermediary of lease rent settlement by hedging foreign exchange
fluctuation risk by purchasing foreign exchange forward option right, and
support activities to develop use for new-built ships and oil/gas tanks.

<PAGE>

Chiba Marine Yokohama Company, Ltd. : To make use of business relations and
network cultivated as result of broad activities in the field of ship repairs
and supply of ship equipments by supporting contacts with ship-owners and
shipyards, as well as to act as intermediary between world renowned ship
management company Wallem Shipmanagement to extend its support to the Company.

(Purpose)

Article 2 The purpose of the Company shall be to introduce paint removal system
developed by UltraStrip Systems, Inc. U.S.A. into Japanese and Asian market and
to undertake business operation provided in The Article of Incorporation.

(Establishment, Registration)

Article 3 Joint venture partners shall cooperate in completing steps to
establish and register the Company without due delay, as this Agreement and The
Article of Incorporation take effect.

(Business Operation and Responsibility)

Article 4 Joint venture partners agree to perform or to cooperate with the
Company to actualize the under-noted provisions.

1.    To contribute equity in accordance with The Article of Incorporation.

2.    To provide loan, loan guarantee and/or induce loan with upper limit of 50%
      (fifty percent) of the amount of authorized capital if such need arises.

3.    To sub-lease the equipment system supplied by UltraStrip System, Inc. from
      lease company through one of joint venture partner. To conclude necessary
      lease agreement with lease company.
      To place order of equipment system upon reaching agreement on lease and
      sub-lease agreement. UltraStrip System, Inc. shall deliver equipment
      system at shipping port in United States within 120 days after receiving
      order.

4.    To conclude loan agreement between the Company and UltraStrip Systems,
      Inc.

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<PAGE>

5.    To conclude Technical and Marketing Support Service Agreement necessary to
      realize the business. Agreement will contain stipulations necessary to
      operate and promote use of proprietary rights, training of operator,
      furnishing operational technical support and services, and providing
      materials and information for marketing promotion.

6.    Actualize other arrangements necessary to realize and promote the business
      such as out-contracting paint removal operation from customer, operation
      related works with contractor, assign import of equipment, storage and
      transport of equipment, technical support from paint manufacturer, and
      outsourcing administrative works.

7.    To provide business support by joint venture partners utilizing their
      expertise in given business domain.

8.    To provide cooperation and support to maintain high standard of management
      and operation of the Company undertaken with diligence and integrity in
      compliance with law and public regulation.

(Assignment of Rights and Obligations)

Article 5 Assignment of rights and obligations provided by Joint Venture
Agreement shall not be allowed without previous approval in writing by the Board
of Directors.

(Confidentiality)

Article 6 Business information acquired during the course of business promotion
and or operation whether managerial, technical or marketing are exclusive
property of the Company and cannot be disclosed to third party. None-the-less,
this article does not apply to information required by the law to be disclosed,
or known public information.
Unless otherwise provided separately, disclosure necessary to lawyer, public
accountant, auditing firm, related company and third party for needs of business
promotion and/or operation can be undertaken with previous discretion of the
Company.

(Term of Contract)

Article 7 Joint Venture Agreement shall continue to be effective so long as
joint venture partners continue to hold equity and the Company is not dissolved
under the provision of The Article of Incorporation.

Any party to the contract who wish to withdraw from the joint venture shall
provide 90 days previous notification in writing to Board of Directors and
receive its approval.

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<PAGE>

If joint venture partners wish to acquire the share of stocks of approved
withdrawing party, they will have prior right to acquire such share at book
value and/or fair market value.

Obligation to maintain confidentiality under this contract will not cease for
the party withdrawing from the joint venture.

(Default)

Article 8 If default of any party to contract result in damage or posing threat
of damage to the Company, the Company or any of joint venture partners shall
request remedy. If such default shall not be remedied within 90 days, the board
of directors shall take necessary and appropriate action.

(Force Majeure)

Article 9 Any party who cannot perform its obligation under this contract
,despite its best effort, as result of irresistible force such as natural
disaster, strike, change of law which cannot hold the party to contract
accountable, shall immediately report the fact to board of directors and consult
and implement corrective measure.

(Official Language)

Article 10 The Company shall adopt Japanese and English as official language.
Important record, financial statement and other documents required by law shall
be recorded in two languages, Japanese and English.

(Law and Dispute Settlement)

Article 11 This contract is based on law of Japan and resolved under law of
Japan. Any dispute arising under this contract will first brought to third party
arbitration. If the matter is unsolved, it will be referred to summary court or
district court within the jurisdiction of Company's head-quarter, branch office
or operational office.

(Entirety of Agreement / Modification of Contract)

Article 12 This contract represent agreement in entirety, superceding any
previous understanding or communication.

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<PAGE>

Modification or amendment of contract shall be done in accordance with
provisions of The Article of Incorporation.

(Matters Not Stipulated)

Article 13 Matters not stipulated in this contract or if the question arises in
regard to provision of this contract among party to contract, party concerned
shall consult and resolve the issue with integrity based on rules of trust and
sincerity.

(Notification)

Article 14 Notification and communication of information shall be dispatched to
under-noted in accordance with the procedure provided by The Article of
Incorporation.

UltraStrip Systems, Inc.
3515 S.E. Lionel Terrace, Stuart, Florida, 34997, U.S.A
..
Kamimura International Associates, LLC
3909 North 44th Street, McLean, Virginia 22101, U.S.A.

Ihara Company, Ltd.
720-0313 1670 Oaza, Numakuma-machi Tsuneishi, Numakuma-gun,
Hiroshima Prefecture, Japan

Kyokuto Boeki Kaisha, Ltd.
100-0004 New Otemachi Bldg., 2-1, Otemachi, 2-Chome, Chiyoda-ku, Tokyo, Japan

Chiba Marine Yokohama Company, Ltd.
281-0813  4, Kamome-cho, Naka-ku, Yokohama, Japan

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