Document:

Exhibit 10.72

                                 PROMISSORY NOTE

$123,917.00                                              Belmont, MA
March 31, 2004                                           Due: December 31, 2006

         For value received, the undersigned, Kronos Advanced Technologies,
Inc., a Nevada corporation, (the "Company") and Kronos Air Technologies, Inc.
("Kronos Air"), a Nevada corporation, (the Company and Kronos Air Technologies,
Inc. are hereinafter referred to jointly as "Borrowers") jointly and severally
promise to pay to the order of J. Alexander Chriss (hereinafter, "Lender") at
Lender's offices located at 464 Common Street, Suite 301, Belmont, MA 02478 or
at such other place as the holder of this Promissory Note may from time to time
designate the principal sum of one hundred twenty-three thousand nine hundred
and seventeen dollars ($123,917.00), together with interest thereon at the rate
hereinafter specified, and any and all other sums which may be due and owing to
the holder of this Promissory Note in accordance with the following terms:

         1.    Repayment. Commencing April 1, 2004 and provided that the
Borrowers have a combined minimum cash balance of two hundred thousand dollars
($200,000), the Borrowers shall repay the lender the last day of each month in
cash two thousand two hundred and ninety-two dollars ($2,292). In the event that
the Borrowers' combined cash balance is less than $200,000, then the $2,292
would be deferred to the next month and added to the payment for the next month
subject to the same minimum cash requirements. Commencing upon the earliest of
the following the Borrowers shall repay the Lender in full in cash for the
outstanding principal and accrued and unpaid interest:

a)            In the event of a "Change of Control." For purposes of this Note,
              a "Change in Control" shall have the same meaning as set forth in
              the Employment Agreement between Lender and Kronos Air;

b)            In the event of an "Event of Default" (as defined below);

c)            In the event that the Borrowers secure cumulative debt or equity
              financing from a source other than Fusion Capital in the amount of
              $5,000,000 or more; in the event that the Borrowers secure
              cumulative debt or equity financing from a source other than
              Fusion Capital between $1,000,000 and $5,000,000, then an amount
              equal to two percent (2%) of the net proceeds not to exceed the
              total amount owed under this Promissory Note would be additionally
              due and owing under this Promissory Note;

d)            In the event the Lender is no longer employed by the Borrowers,
              this Promissory Note is payable as follows:

<PAGE>

i.            if the Lender's employment is terminated by the Borrowers for
              "Cause" as defined in the Lender's Employment Agreement with
              Kronos Air or in the event the Lender resigns from employment with
              Kronos Air, this Promissory Note will be due and payable in twelve
              (12) equal monthly installments commencing thirty (30) days after
              the date of termination;

ii.           if the Lender's employment with the Borrowers is terminated for
              any reason other than "Cause" as defined in the Lender's
              Employment Agreement with the Borrowers, then this Promissory Note
              will be due and payable in six (6) equal monthly installments
              commencing thirty (30) days after the date of termination;

e)            In no event shall the outstanding principal and all accrued
              interest due under this Promissory Note be repaid to the Lender
              later than December 31, 2006.

         2.    Interest Rate.  Interest shall accrue at a rate of one percent
(1%) per month simple interest.

         3. Calculation of Interest. Interest on this Note shall be calculated
on the basis of a thirty (30) day per month factor applied to the actual days on
which there exists an unpaid principal balance due under this Promissory Note.

         4. Application of Payments. All payments made hereunder shall be
applied first to late penalties or other sums owing the holder, then to accrued
interest, and last to repayment of the principal amount of this Promissory Note.

         5. Prepayment. Borrowers may prepay this Promissory Note in whole or in
part at any time or from time to time without penalty or additional interest,
provided that payments are applied as provided in Section 4 above.

         6. Default and Remedies. Any failure to make any payment due under this
Promissory Note when due or upon the failure to comply with any other terms and
provisions of this Promissory Note which is not cured within thirty (30) days
after receipt of written notice from the Lender shall be an event of default
under this Promissory Note (an "Event of Default") and shall entitle Lender to
all of the rights and remedies specified herein or otherwise available under
applicable law, without any further notice, any further right to cure, or
obligation to make demand for payment. Upon an Event of Default, the entire
unpaid principal balance of this Promissory Note, together with all accrued but
unpaid interest and other sums due hereunder, shall immediately become due and
payable in full, in cash, and Lender shall have the right to bring suit for such
amount and to exercise any other remedies available.

         7. Attorney's Fees. The prevailing party in any litigation shall be
entitled to recover all costs and expenses (including court costs and reasonable
attorneys' fees).

                                      -2-

<PAGE>

         8. Extensions or Modifications. All parties to this Promissory Note,
whether maker, endorsor or guarantor, agree that the maturity of this Promissory
Note or any payment due hereunder may be extended at any time or from time to
time, this Promissory Note may be modified, and any Event of Default hereunder
may be waived without releasing, discharging or affecting the liability of
Borrowers or any other party not specifically released.

         9. Venue. Borrowers agree that venue shall be proper in any state court
in the Commonwealth of Massachusetts in any action or proceeding brought to
construe, interpret or enforce this Promissory Note or any related document.
Borrowers waive the benefit of any and every statute, ordinance or rule of court
which may be lawfully waived conferring upon Borrowers any right or privilege,
stay of execution, or supplementary proceeding or other relief from the
immediate enforcement of a judgment or related proceedings on a judgment. The
Borrowers waive the benefit of any exemption laws. The authority granted herein
shall not be exhausted by any one or more exercises or be extinguished by any
judgment entered, and may be exercised on one or more occasions and in one or
more jurisdictions.

          10. Waiver of Defenses; Setoff. The Borrowers agree that neither the
Lender nor any subsequent holder of this Promissory Note shall be subject to any
claims, defenses or setoffs which Borrowers may have against the Lender or any
prior holder, all of which are waived as to the Lender and any subsequent
holders, and all subsequent holders shall have the rights of a holder in due
course with respect to Borrowers even though the subsequent holder might not
qualify under applicable law absent this paragraph as a holder in due course.

          11. Waiver of Protest. Borrowers and all parties to this Promissory
Note hereby waive presentment, protest and demand and notice of protest, demand,
dishonor and nonpayment of this Promissory Note.

          12. Commercial Loan Transaction. Borrowers warrant and agree that this
Promissory Note is the result of a commercial loan transaction.

          13. No Waiver. The delay or failure of any holder to exercise its
rights hereunder shall not be deemed a waiver thereof. No waiver of any rights
of holder shall be effective unless in writing and signed by the holder, and any
waiver of any right shall not apply to any other right or to such right in any
subsequent event or circumstance not specifically included in such waiver.

         14. Notices. Any notices required hereunder shall be deemed properly
given if delivered in person or if mailed by registered or certified mail,
postage prepaid, return receipt requested to the parties at the following
addresses:

                                      -3-

<PAGE>

         15. Headings. The section and subsection headings in this Promissory
Note are inserted for convenience only and shall not affect in any way the
meaning or interpretation of this Promissory Note.

   If to Kronos Advanced Technologies, Inc. or Kronos Air Technologies, Inc. to:

                  Mr. Rich Tusing
                  Kronos Advanced Technologies, Inc
                  464 Common Street, Suite 301
                  Belmont, MA 02478

                  with a copy to:

                  Clayton E. Parker, Esq.
                  Kirkpatrick & Lockhart LLP
                  201 South Biscayne Boulevard, Suite 2000
                  Miami, Florida  33131

   If to Lender:

                  Mr. J. Alexander Chriss
                  Kronos Advanced Technologies, Inc.
                  464 Common Street, Suite 301
                  Belmont, MA 02478

or to such other address as any party may hereafter give notice of to the other.

         16. Choice of Law. This Promissory Note shall be deemed to be made in
the Commonwealth of Massachusetts and shall be governed, construed and enforced
in strict accordance with the laws of the Commonwealth of Massachusetts, without
reference to principles of conflict of laws.

                        SIGNATURES ON THE FOLLOWING PAGE

                                      -4-

<PAGE>

IN WITNESS WHEREOF, Borrowers have caused this Promissory Note to be executed on
their behalf by their respective duly authorized officers and their respective
corporate seals to be affixed and attested by their respective Secretaries as of
the day and year first above written.

ATTEST:                                      KRONOS ADVANCED TECHNOLOGIES, INC.

                                       By:                                [SEAL]
------------------------------------      --------------------------------
Secretary                              Name: Daniel R. Dwight
                                      Title: President and CEO

ATTEST:                                      KRONOS AIR TECHNOLOGIES, INC.

                                       By:                                [SEAL]
------------------------------------      --------------------------------
Secretary                              Name: Daniel R. Dwight
                                      Title: President and CEO

                                      -5-<PAGE>

                                  EXHIBIT 10.1
                                  ------------

                            ASSET PURCHASE AGREEMENT
                            ------------------------

Dated:  March 22, 2004

ALBERTA TRADING CO., as Debtor-In-Possession under the U.S. Bankruptcy Code, 11
USCss.1107, hereinafter called the Sellers, have agreed to sell, (subject to the
approval by the U.S. Bankruptcy Court for the Southern District of Florida), and

ISRAMCO INC., or its assignees,

hereinafter called the Buyers, have agreed to buy

Name:    M/V MIRAGE I

Classification Society/Class:  D.N.V.

BUILT:   1973              BY: CHANTIERS DE L'ATLANTIQUE
--------------------------------------------------------

Flag:    Bahamas           Place of Registration:  Bahamas

Call Sign:  CGMW7 Grt/Nrt  14,264/6098

Register Number  72 60 94

hereinafter called the Vessel1, on the following terms and conditions:

DEFINITIONS

"Banking days" are days on which banks are open both in the country of the
currency stipulated for the Purchase Price in Clause 1 and in the place of
closing stipulated in Clause 8.

"In writing" or "written" means a letter handed over from the Sellers to the
Buyers or vice versa, a registered letter, telex, telefax or other modern form
of written communication.

"Classification Society" or "Class" means the Society referred to in line 4.

1.      PURCHASE PRICE    $8,050,000

2.      DEPOSIT           $  585,000

3.      PAYMENT

        The said Purchase Price shall be paid in full free of bank charges to
Alberta Trading Co., DIP on closing and delivery of the Vessel.

4.      Inspections

_____________________________
1       PLUS ADDITIONAL PERSONAL PROPERTY LOCATED IN PORT CANAVERAL, FL (SEE:
        EXHIBIT "A").

                                      -14-
<PAGE>

        a)      The Buyers have inspected and accepted the Vessel's
classification records. The Buyers have also inspected the Vessel at/in
____________________ on ____________________ and have accepted the Vessel
following this inspection and the sale is outright and definite, subject only to
the terms and conditions of this Agreement.

When the Vessel is at the place of delivery and in every respect physically
ready for delivery in accordance with this Agreement, the Sellers shall give the
Buyers a written Notice of Readiness for delivery.

        B)      THE VESSEL SHALL BE DELIVERED AND TAKEN OVER SAFELY AFLOAT AT A
SAFE AND ACCESSIBLE BERTH OR ANCHORAGE AT/IN PORT CANAVERAL, FLORIDA

Expected time of delivery: March 29, 2004

        C)      SHOULD THE VESSEL BECOME AN ACTUAL, CONSTRUCTIVE OR COMPROMISED
TOTAL LOSS BEFORE DELIVERY THE DEPOSIT TOGETHER WITH INTEREST EARNED SHALL BE
RELEASED IMMEDIATELY TO THE BUYERS WHEREAFTER THIS AGREEMENT SHALL BE NULL AND
VOID.

5.      DRYDOCKING/DIVERS INSPECTION

The Vessel is to be delivered without drydocking.

6.      SPARES/BUNKERS, ETC.

The Sellers shall deliver the Vessel to the Buyers with everything belonging to
her on board and on shore. All spare parts and spare equipment including spare
tail-end shaft(s) and/or spare propeller(s)/propeller blade(s), if any,
belonging to the Vessel at the time of inspection used or unused, whether on
board or not shall become the Buyers' property, but spares on order are to be
excluded. Forwarding charges, if any, shall be for the Buyers' account. The
Sellers are not required to replace spare parts including spare tail-end
shaft(s) and spare propeller(s)/propeller blade(s) which are taken out of spare
and used as replacement prior to delivery, but the replaced items shall be the
property of the Buyers. The radio installation and navigational equipment shall
be included in the sale without extra payment if they are the property of the
Sellers. Unused stores and provisions shall be included in the sale and be taken
over by the Buyers without extra payment.

The Sellers have the right to take ashore crockery, plates, cutlery, linen and
other articles bearing the Sellers' flag or name, provided they replace same
with similar unmarked items. Library, forms, etc., exclusively for use in the
Sellers' vessel(s), shall be excluded without compensation. Captain's, Officers'
and Crew's personal belongings including the slop chest are to be excluded from
the sale, as well as the following additional items (including items on hire):

The Buyers shall take over the remaining bunkers and unused lubricating oils in
storage tanks and sealed chums.

Payment under this Clause shall be made at the same time and place and in the
same currency as the Purchase Price.

7.      DOCUMENTATION

The place of closing: The Law Offices of Fowler, White, Burnett, P.A., 100 S.E.
2nd Street, l7th Flr., Miami, FL 33131.

In exchange for payment of the Purchase Price the Sellers shall furnish the
Buyers with delivery documents, namely:

        A)      LEGAL BILL OF SALE IN A FORM RECORDABLE IN (THE COUNTRY IN WHICH
THE BUYERS ARE TO REGISTER THE VESSEL), WARRANTING THAT THE VESSEL IS FREE FROM
ALL ENCUMBRANCES, MORTGAGES AND MARITIME LIENS OR ANY OTHER DEBTS OR CLAIMS
WHATSOEVER, DULY NOTARIALLY ATTESTED AND LEGALIZED BY THE CONSUL OF SUCH COUNTRY
OR OTHER COMPETENT AUTHORITY.

        b)      Order of U.S. Bankruptcy Court authorizing the sale to Buyers or
their Assignees, free of all liens, claims, or encumbrances, with valid liens to
attach to the proceeds of sale.

                                      -15-
<PAGE>

        c)      Current Certificate of Ownership issued by the competent
authorities of the flag state of the Vessel.

        d)      Certificate of Deletion of the Vessel from the Vessel's registry
or other official evidence of deletion appropriate to the Vessel's registry at
the time of delivery, or, in the event that the registry does not as a matter of
practice issue such documentation immediately, a written undertaking by the
Sellers to effect deletion from the Vessel's registry forthwith at Buyer's
expense, and furnish a Certificate or other official evidence of deletion to the
Buyers promptly and latest within 4 (four) weeks after the Purchase Price has
been paid and the Vessel has been delivered.

        E)      ANY SUCH ADDITIONAL DOCUMENTS AS MAY REASONABLY BE REQUIRED BY
THE COMPETENT AUTHORITIES FOR THE PURPOSE OF REGISTERING THE VESSEL, PROVIDED
THE BUYERS NOTIFY THE SELLERS OF ANY SUCH DOCUMENTS AS SOON AS POSSIBLE AFTER
THE DATE OF THIS AGREEMENT.

At the time of delivery the Buyers and Sellers shall sign and deliver to each
other a Protocol of Delivery and Acceptance confirming the date and time of
delivery of the Vessel from the Sellers to the Buyers.

At the time of delivery the Sellers shall hand to the Buyers the classification
certificate(s) as well as all plans etc., which are on board the Vessel. Other
certificates which are on board the Vessel shall also be handed over to the
Buyers unless the Sellers are required to retain same, in which case the Buyers
to have the right to take copies. Other technical documentation which may be in
the Sellers' possession shall be promptly forwarded to the Buyers at their
expense, if they so request. The Sellers may keep the Vessel's log books but the
Buyers to have the right to take copies of same.

8.      ENCUMBRANCES

The Vessel is being sold free from all charters, encumbrances, mortgages and
maritime liens or any other debts whatsoever, pursuant to order of the U.S.
Bankruptcy Court.

9.      TAXES, ETC.

Any taxes, fees and expenses in connection with the purchase and registration of
the Vessel under the Buyers' flag, shall be paid by the Buyer.

10.     CONDITION ON DELIVERY

The Vessel with everything belonging to her shall be at the Sellers' risk and
expense until she is delivered to the Buyers, but subject to the terms and
conditions of this Agreement she shall be delivered and taken over as she was at
the time of inspection, fair wear and tear excepted. However, the Vessel shall
be delivered with her class maintained without condition/recommendation*, free
of average damage affecting the Vessel's class, and with her classification
certificates and national certificates, as well as all other certificates the
Vessel had at the time of inspection, valid and unextended without
condition/recommendation* by Class or the relevant authorities at the time of
delivery.

"Inspection" in this Clause 11, shall mean the Buyers' inspection according to
Clause 4 a) or 4 b), if applicable, or the Buyers' inspection prior to the
signing of this Agreement. If the Vessel is taken over without inspection, the
date of this Agreement shall be the relevant date.

Notes, if any, in the surveyor's report which are accepted by the Classification
Society without condition/recommendation are not to be taken into account.

11.     NAME/MARKINGS

Upon delivery the Buyers undertake to change the name of the Vessel and alter
funnel markings.

                                      -16-
<PAGE>

12.     BUYERS' DEFAULT

Should the Purchase Price not be paid in accordance with Clause 3, the Sellers
have the right to cancel the Agreement, in which case the Deposit together with
interest earned shall be released to the Sellers. If the Deposit does not cover
their loss, the Sellers shall be entitled to claim further compensation for
their losses and for all expenses incurred together with interest.

13.     BUYERS' REPRESENTATIVES

After this Agreement has been signed by the Buyers, Buyers have the right to
place two representatives on board the Vessel at their sole risk and expense at
Port Canaveral.

These representatives are on board for the purpose of familiarization and in the
capacity of observers only, and they shall not interfere in any respect with the
operation of the Vessel. The Buyers' representatives shall sign the Sellers'
letter of indemnity prior to their embarkation.

14.     ARBITRATION

This Agreement shall be governed by and construed in accordance with the laws of
the United States and the State of Florida.

ISRAMCO INC.

/S/ HAIM TSUFF
By:
Title:

ALBERTA TRADING CO.

______________________
By:
Title:

                                      -17-

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