EXHIBIT 10.18

RESTATED REVOLVING NOTE

        For value received, the undersigned, Insignia Systems, Inc., a Minnesota corporation (the “Borrower”), hereby promises to pay, on demand, or if demand is not sooner made, on April 30, 2006 (“Final Due Date”), to the order of Itasca Business Credit, Inc., a Minnesota corporation (the “Secured Party”), at its main office in St. Louis Park, Minnesota, or at any other place designated at any time by the holder hereof, in lawful money of the United States of America, the principal sum of One Million Five Hundred Thousand Dollars ($1,500,000) or, the aggregate unpaid principal amount of all advances made by the Secured Party to the Borrower hereunder, together with interest on the principal amount hereunder remaining unpaid from time to time (the “Principal Balance”) computed on the basis of the actual number of days elapsed and a 360-day year, from the date hereof until this Note is fully paid at the rate from time to time in effect under the Financing Agreement dated September 16, 2004 (the “Financing Agreement”), by and between the Secured Party and the Bo