Exhibit 10.21


                                PROMISSORY NOTE


$50,000.00                                                       January 3, 2007


     FOR VALUE RECEIVED, Converted Organics Inc., a Delaware corporation
("Maker"), promises to pay to the order of High Capital Funding, LLC ("Holder")
the principal sum of Fifty Thousand Dollars ($50,000)(the "Obligation").
Interest on the Obligation shall accrue until the Obligation is paid in full at
the rate of ten (10%) per annum. The Obligation and interest shall be payable in
lawful money of the United States, at Atlanta, Georgia or such other place as
Holder hereof may designate.

     Interest shall be computed on the basis of a 365 day year or 366-day year,
as applicable, and actual days lapsed. Maker shall the right to prepay at any
time in advance of maturity, without premium or penalty, all or any part of
the principal amount of this Promissory Note or interest thereon. Payments
shall be first applied to outstanding interest and thereafter to the principal.

     This Promissory Note shall be payable as follows:

     1.   If before January 31, 2007, this Promissory Note shall become due and
          payable in full at the time of the closing of the proposed public
          offering of securities of Maker pursuant to that certain Registration
          Statement on Form SB-2 (SEC File No. 333-135174) to be underwritten by
          a syndicate managed by Paulson Investment Company, Inc. (the
          "Offering").

     2.   If after January 31, 2007, and the Offering has not closed or this
          Promissory Note has not been paid in full, this Promissory Note shall
          become due and payable in full thirty (30) days after any written or
          oral demand for payment by Holder.


     Maker waives diligence, presentment, demand, protest, and notice of any
kind whatsoever. The non-exercise by Holder of any of Holder's rights hereunder
in any instance shall not constitute a waiver thereof in that or any subsequent
instance.

     Maker shall pay upon demand any and all expenses, including reasonable
attorney fees, incurred or paid by Holder without suit or action in attempting
to collect funds due under this Promissory Note. In the event an action is
instituted to enforce or interpret any of the terms of this Promissory Note
including, but not limited to, any action or participation by Maker in, or in
connection with, a case or proceeding under the U.S. Bankruptcy Code or any
successor statute, the prevailing party shall be entitled to recover all
expenses reasonably incurred at, before and after trial, on appeal, and on
review whether or not taxable as costs, including, without limitation,
attorneys' fees, witness fees (expert and otherwise), deposition costs, copying
charges and other expenses.

     This Promissory Note is to be construed in all respects and enforced
according to the laws of the state of Delaware.

     A facsimile signature on this Promissory Note shall be deemed to be an
original signature for all purposes.

     By order of and upon the authorization of the Board of Directors of
Converted Organics Inc.:



                                          "MAKER"

                                          CONVERTED ORGANICS INC.

                                          BY:  /s/ Edward Gildea
                                               ---------------------

                                          ITS: President
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