Document:

Exhibit 10.7

                          CONVERTIBLE PROMISSORY NOTE

$2,000,000                                                        April 11, 2003

     FOR VALUE RECEIVED, SurgiLight, Inc., a Florida corporation ("Maker"),
hereby promises to pay to the order of GEM Global Yield Fund Limited, a West
Indies corporation ("Holder"), the sum of Two Million and no/100 U. S. Dollars
(2,000,000.00), without interest except as set forth in Section 3 below, in
accordance with the terms of this Note. Payment on this Note shall be in such
name(s) and at such place as Holder or any subsequent holder hereof shall have
designated to the SurgiLight in writing. By acceptance of this Note, Holder
agrees that it will promptly deliver and surrender this Note to the Maker upon
full payment, therefore.

This Note is issued pursuant to the Agreement, dated April 11, 2003 by and
between Maker and Holder (the "Agreement"), to which Agreement reference is
hereby made for a statement of the rights of Holder and the duties and
obligations of Maker in relation thereto; but neither this reference to the
Agreement nor any provisions thereof shall affect or impair the absolute and
unconditional obligation of Maker to pay the principal of this Note, subject to
applicable conversion events.

1. Conversion. The aggregate principal amount and interest due under this Note
is convertible into shares of the Maker's common stock under the specific terms
and conditions set forth in the Agreement.

2. Interest. The Note will not accrue any interest except as set forth in
Section 3 below.

3. Default Interest. Upon the Maker's default as set forth in Section 3 (b) of
the Agreement and until such default is cured, this Note shall accrue and bear
interest payable in cash and on demand at the rate of eight percent (8%) per
annum.

4. Unsecured Debt. This Note represents an unsecured debt obligation of Maker.
Holder does not have any priority or secured claim against any of the assets of
Maker with respect to the principal amount of this Note or any interest that may
be accrued thereon.

5. Governing Law. This Note may not be modified orally, and shall be governed,
construed and interpreted under the internal laws of the State of New York
without reference to principles of conflicts or choice of law.

6. Notice. Presentment, protest, notice, notice of protest, and notice of
dishonor are hereby waived by Maker.

7. Replacement. Upon receipt of evidence reasonably satisfactory to Maker of the
loss, theft, destruction or mutilation of this Note and, if requested in the
case of such loss, theft or destruction, upon delivery of such indemnity as may

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be reasonably required by Maker or, in the case of any such mutilation, upon
surrender and cancellation of such Note, Maker will issue a new Note, of like
tenor, in lieu of such lost, stolen or destroyed Note.

8. Exchange. This Note is in exchange for the 3% Convertible Debentures due
November 8, 2003 issued pursuant to that certain Convertible Debenture Purchase
Agreement between Maker and Holder dated as of June 30, 2000.

9. Indemnification. Maker hereby agrees to indemnify the holder of this Note
against and hold it harmless from any costs and expenses, including, without
limitation, reasonable attorneys' fees, disbursements and court costs, incurred
by the holder of this note in connection with the enforcement of the terms
hereof.

10. No Waiver. No delay on the part of any holder hereof in exercising any power
or rights hereunder shall operate as a waiver of any power or rights.

Witness                                     SURGILIGHT, INC.

Name:_______________                        By:________________

Title: _________________Exhibit 10.9

                                 LOAN AGREEMENT
                                 --------------

This Loan Agreement ("Agreement") is made and entered into effective as of the
30th day of January, 2002 by and between SurgiLight, Inc., a Delaware
corporation whose address is 12001 Science Drive, Suite 140, Orlando, FL 32826
("Company"), and Stuart Michelson, Ph.D. an individual whose address is 5680
South Lake Burkett Lane, Winter Park, FL 32792 ("Lender"). Collectively the
"Parties".

                                 R E C I T A L S
                                 - - - - - - - -

WHEREAS, the Company desires to secure a loan ("Loan") from the Lender to make
necessary payments according to payable commitments and agrees to the terms and
conditions set forth below;

WHEREAS, the Lender agrees to provide the loan to the Company;

          NOW, THEREFORE, the parties hereby agree as follows:

1. LOAN AMOUNT AND SECURITY
   ------------------------

The Company hereby desires to secure a loan from the Lender in the amount of
$20,000. The Company agrees to secure the loan the following collateral:
Intangible Assets ("Intangible Assets"), which include, but is not limited to,
patents, assigned patents, patent licenses and patents pending as set forth in
Schedule A.

2. INTEREST RATE
   -------------

The Company also agrees to pay 6% simple interest or the amount of interest
actually incurred by the Lender, whichever is greater to the Lender on the Loan.

3. WARRANTIES
   ----------

The Loan of $20,000 plus said interest shall be repaid prior to the Company
making payments for other obligations, except payroll and taxes, unless the
Company is released of this obligation in writing by Lender. The Company
warrants that the secured assets used as collateral for this Loan are free and
clear of any liens or encumbrances and may be used for said collateral. The
Company also warrants that the Patents listed are duly assigned or licensed to
the Company for the field of Ophthalmology. Additionally a form UCC-1 has been
signed on the date as set forth above.

The Lender acknowledges that this loan is granted on the same terms as a loan on
the date hereof from Dr. Colette Cozean. Both notes have the same priority and
will be paid proportionately as funds become available. The Company acknowledges
that other amounts are due and owing to the Lender for services rendered.

                                       1

<PAGE>

4. RELEASE OF SECURITY
   -------------------

Lender agrees to provide the loan in the amount of $20,000 and agrees to return
the ownership of the Patents as set forth in Schedule A when the $20,000 Loan
and interest thereto is paid in full.

5. TERM
   ----

The term of this Agreement shall commence as of the effective date set forth
above and shall continue until the Loan of $20,000 plus said interest is
completely paid, whereupon the Agreement shall terminate, unless terminated
sooner in accordance herewith.

6. DEFAULTS
   --------

The Company will be in default of this Loan in the event of (i) bankruptcy, (ii)
the Company making payments, other than that for obtaining debt financing,
payroll or taxes, for other obligations before the Loan of $20,000 plus said
interest is repaid unless the Company is released of this obligation in writing
by Lender, and (iii) failure of the Company to repay the Loan in the amount of
$20,000 plus said interest within 60 days.

7. GENERAL
   -------

   a. All notices, requests, demands and other communications required or
permitted to be given under the terms of this Agreement shall be in writing and
shall be deemed to have been duly given if delivered personally, given by
facsimile, or mailed first class, postage prepaid or by registered or certified
mail.

   b. The Lender shall have no claim under this Agreement or otherwise against
the Company relating to the Loan for any employee benefits or withholding
obligations, all of which shall be the sole responsibility of Lender. The
Parties further agree that nothing in this Agreement creates the relationship of
partnership, joint venture, sales agency or principal and agent.

   c. The terms and provisions of this Agreement shall be binding on the Lender,
and shall inure to the benefit of the heirs, legal representatives, successors
and assigns of the Company. This Agreement is not assignable or transferable and
any attempt of such assignment, in whole or in part, shall be null and void.

   d. This Agreement, including the Schedule(s) attached hereto, contains the
entire understanding and agreement of the Parties with respect to this loan, and
there are no representations, warranties, promises or undertakings other than
those contained in this Agreement. This Agreement does not supersede, affect nor
cancel any previous agreements, rights or obligations between the parties. No
course of conduct or dealing between the parties shall act as a modification or
waiver of any provision of this Agreement, and only a modification or waiver
which is contained in a written agreement, signed by both parties, shall be
effective.

                                       2

<PAGE>

   e. This Agreement shall be governed and construed in accordance with the laws
of the State of Florida, U.S.A., and the parties agree that it is executed and
delivered in that state.

   f. The Lender and the Company agree that all disputes arising out of or
concerning the terms of this Agreement will be subject solely to binding
arbitration. The arbitrator selection and conduct of the arbitration will be
pursuant to the Commercial Arbitration Rules of the American Arbitration
Association. The place of the arbitration shall be in Orange County, Florida and
judgment on the award may be entered in any court having jurisdiction thereof.
If either party believes it is necessary to undertake discovery on asserted
statutory claims, such party shall apply to the arbitrator or arbitrators for
rights to undertake discovery, and the arbitrator shall allow discovery
sufficient for either party to adequately arbitrate, vindicate, or defend the
statutory claims, including access to essential documents and witnesses. At the
conclusion of the arbitration, the arbitrator or arbitrators shall issue a
decision in writing setting forth the essential findings and conclusions, and
this decision is subject to review, confirmation, correction, or vacation
pursuant to the provisions Code of Civil Procedure 1285 through 1288.8 in effect
at the time the decision is rendered.

   g. If any provision of this Agreement should be held to be void or
unenforceable, in whole or in part, such provision or part thereof shall be
treated as severable, leaving valid the remainder of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first set forth above.

DATED:   _______________                    LENDER:

                                            By:_____________________________
                                                 Colette Cozean, Ph.D.

DATED:   ________________                   SURGILIGHT, INC

                                            By:_____________________________
                                                 Timothy J. Shea
                                                 Senior Vice President
                                                 Chief Operating Officer

<PAGE>
<TABLE>
<CAPTION>

                                                               PATENTS
                                                               -------
                                                              SCHEDULE A
                                                              ----------

                                                              EXHIBIT A1
                                                              ----------

                                                           LICENSED PATENTS

--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------
<S>                   <C>                                        <C>           <C>            <C>        <C>           <C>
Case Number           Title of Invention                         Country       Appl. No.      Filing     Patent No.    Issue Date
                                                                                              Date
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.001FW1*        MEDICAL LASER INTERCONNECT SYSTEM          USA           07/568,549     8/16/90    5,116,329     5/26/92
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.001VCA*                            "                      CANADA        2,000,916      10/18/89   2,000,916     1/17/95
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.001VEP*                            "                      EUROPE        89310520.5     10/13/89   0365228       12/14/94
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.001VJP*                            "                      JAPAN         282,818/89     10/30/89   3,084,029     6/30/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.002FW1*        FIBER OPTIC APPARATUS FOR USE WITH         USA           07/803,919     12/6/91    5,207,673     5/4/93
                      MEDICAL LASERS
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.002VAU*                            "                      AUSTRALIA     56,921/90      6/7/90     613,560       12/11/91
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.002VCA*                            "                      CANADA        2,018,450      6/7/90     2,018,450     5/9/95
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.009DV1*        LASER SURGICAL PROBE                       USA           08/841,865     5/5/97
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.009FW4*        TRANSPARENT LASER SURGICAL PROBE           USA           08/419,511     4/7/95     5,688,261     11/18/97
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.009QCA*                            "                      CANADA        2,107,687      4/3/92
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.009QEP*                            "                      EUROPE        92910340.6     4/3/92     0578756       8/30/000
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.011DV1*        CONTACT TIP FOR LASER SURGERY              USA           08/455,061     5/31/95    6,110,167     8/29/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.011FW4*                            "                      USA           08/457,992     6/1/95     5,707,368     1/13/98
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.018DV1*        MULTIWAVELENGTH MEDICAL LASER METHOD       USA           07/917,589     7/17/92    5,304,167     4/19/94
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

*previously licensed to SurgiLight for Erbium Ophthalmic field of use

                                                               - A1 -
</TABLE>

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<TABLE>
<CAPTION>

--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------
<S>                   <C>                                        <C>           <C>            <C>        <C>           <C>
Case Number           Title of Invention                         Country       Appl. No.      Filing     Patent No.    Issue Date
                                                                                              Date
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.018FW2         MULTIWAVELENGTH MEDICAL LASER SYSTEM       USA           07/754,327     9/4/91     5,139,494     8/18/92
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.018VAU                             "                      AUSTRALIA     44,520/89      11/9/89    626,339       2/1/93
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.018VCA                             "                      CANADA        2,002,453      11/8/89    2,002,453     1/17/95
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.018FW4         METHOD OF LASER SURGERY USING MULTIPLE     USA           08/422,648     4/14/95    5,540,676     7/30/96
                      WAVELENGTHS
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050A*           HIGH REPETITION RATE MID-INFRARED LASER   USA           08/240,255     5/10/94    5,422,899     6/6/95
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050VAU*                            "                      AUSTRALIA     17,964/95      5/9/95     688,593       5/7/98
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050VCA*                            "                      CANADA        2,148,395      5/2/95
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050VEP*                            "                      EUROPE        95302891.7     4/28/95    0682389       9/2/98
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050VKR*                            "                      KOREA         11,234/1995    5/9/95
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050VIL*        HIGH PULSE REPETITION AND ITS USE          ISRAEL        113,501        4/26/95    113,501       5/19/97
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050VJP*        PULSED, OPTICALLY PUMPED LASER AND         JAPAN         110,517/1995   5/9/95
                      SURGICAL METHOD USING THE SAME
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.050DV2*                           "                       USA           08/931,600     9/17/97    6,122,300     9/19/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.081A*          SINGLE DOMINANT SPIKE OUTPUT ERBIUM LASER  USA           09/360,588     7/26/99
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.081VPC*                            "                      WO            PCTUS00/20241  7/26/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.112A           OPTICAL SOURCE AND METHOD                  USA           09/303,697     5/3/99
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.112VAU                             "                      AUSTRALIA     46981/00       5/3/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.112VCA                             "                      CANADA                       5/3/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.112VEP                             "                      EUROPE        00928801.0     5/3/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

PREMLS.112VJP                             "                      JAPAN                        5/3/00
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

*previously licensed to SurgiLight for Erbium Ophthalmic field of use

                                                              - A2 -
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

                                                           EXHIBIT A2
                                                           ----------

                                                      NEW ASSIGNED PATENT

--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------
<S>                   <C>                                        <C>           <C>            <C>        <C>           <C>
Case Number           Title of Invention                         Country       Appl. No.      Filing     Patent No.    Issue Date
                                                                                              Date
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------
PREMLS.055FW3         LASER SURGICAL METHOD USING TRANSPARENT    USA           08/391,612     2/21/95    5,722,970     3/3/98
                      PROBE
--------------------- ------------------------------------------ ------------- -------------- ---------- ------------- -------------

                                                              - B1 -
</TABLE>

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                              SCHEDULE A -- Page 1

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