Exhiit 10.26


                                   PROMISSORY NOTE


          COUNTY OF CLARKE
          STATE OF GEORGIA

               For value to be received no later than December 31st 1999,
          American Electromedics Corp., (a Delaware Corporation),
          (hereafter called the "Maker") promises to pay to Guardian
          Financial Services, Inc. (a Georgia Corporation), (hereafter
          called "Holder") at 2826 Lexington Road, Athens, GA 30605, or at
          such other place as the Holder may designate from time to time in
          writing without grace, the principal sum of $505,000.00 U.S.
          Dollars (Five hundred five thousand dollars U.S.).

               This note is due and payable on or before February 28, 1999
          at a place of the Holder's choosing.  Interest will begin to
          accrue starting on the date money is received at a rate of ten
          percent (10%) annually until said note is retired in full.

               Maker agrees to grant Holder a first-place security interest
          in any and all assets of Maker including without limitation, all
          tangible and intangible assets, all real and personal property
          including unfinished and finished goods inventory, furniture
          fixtures and equipment, transferable insurance policies, all
          accounts and notes receivable, business records, contracts,
          licenses, and deposits thereunder which have been made by or
          granted to Maker in connection with its business, and all other
          property including cash and all intellectual property,
          specifically any and all patents and trademarks, foreign or
          domestic, issued or owned by the Maker or any of the Maker's
          subsidiaries such as Equidyne Systems Inc.  Maker agrees to
          execute any and all security instruments, including without
          limitation, assignment of Maker's entire accounts receivable
          portfolio to Holder as security on this indebtedness in a form to
          Holder's satisfaction and Maker also agrees to immediately cause
          all patents issued to or owned by its wholly-owned subsidiary
          Equidyne Systems, Inc. to be assigned to Holder and register such
          assignment, to the satisfaction of Holder, with the appropriate
          Agencies as additional definitive collateral for this note. 
          Maker also agrees to immediately execute any and all further
          documents, to Holder's satisfaction, to perfect Holder's security
          interest in any of the said assets described above, including
          said accounts receivable portfolio and patents.

               Maker agrees to pay the cost Holder incurs to collect this
          note in the event of default, including Holder's attorneys fees
          of twenty (20%) percent of principal and interest.

               Time is of the essence of this Agreement.

               Maker agrees that, should it file for protection under state
          or federal bankruptcy laws, Maker will agree to immediately
          execute a consent order allowing Holder to obtain relief from any
          stay for Holder to exercise any and all enforcement or
          foreclosure rights available to Holder to satisfy the
          indebtedness.

               This 19th day of September 1998.


          Accepted by:

          American Electromedics Corp.
          ----------------------------



          /s/ Michael T. Pieniazek
          -----------------------------------
          By:  President



          /s/ Debra A. Illegible
          -----------------------------------
          By:  Witness