REVOLVING LINE OF CREDIT NOTE WORKING CAPITAL

Exhibit 10.5

REVOLVING LINE OF CREDIT NOTE

WORKING CAPITAL

FOR VALUE RECEIVED, the undersigned, VeriChip Corporation, a Delaware corporation with a principal place of business at 1690 South Congress Avenue, Suite 200, Delray Beach, Florida 33445 (the “Borrower”), hereby promises to pay to the order of Applied Digital Solutions, Inc., a Missouri corporation located at 1690 South Congress Avenue, Suite 200, Delray Beach, Florida 33445 (the “Lender”), at such address, or such other place or places as the holder hereof may designate in writing from time to time hereafter, the maximum principal sum of Eight Million Five Hundred Thousand Dollars ($8,500,000.00), or, if less, so much thereof as may be advanced or readvanced by the Lender to the Borrower pursuant to the terms of the Loan Agreement (as hereinafter defined), together with interest as provided for hereinbelow, in lawful money of the United States of America.

Interest shall be calculated and charged daily on the basis of actual days elapsed over a three hundred sixty (360) day banking year, on the unpaid principal balance outstanding from time to time at a variable rate equal to the Prime Rate of interest (the “Prime Rate”), expressed as a percentage as it exists from time to time. The Prime Rate means the highest Prime Rate of interest as published in the Wall Street Journal from time to time.

The Borrower shall make a balloon payment of principal, interest and any fees or expenses outstanding on December 27, 2010 (the “Maturity Date”) unless a change of ownership or management occurs, as defined in Section IX. C. of the Loan Agreement as defined below, or an initial public offering of the Borrower’s common stock is consummated, in which case the Borrower shall, within two business days of such event, repay in full all principal, interest and any fees or expenses outstanding hereunder.

The Note is issued under, and is subject to, the Commercial Loan Agreement of even date between the Borrower and the Lender, as it may be amended from time to time (the “Loan Agreement”). The holder of this Note is entitled to all of the benefits and rights of the Lender under the Loan Agreement. However, neither this reference to the Loan Agreement nor any provision thereof shall impair the absolute and unconditional obligation of the undersigned to pay the principal and interest on this Note as herein provided. Any capitalized term used in this Note that is not otherwise expressly defined herein shall have the meaning ascribed thereto in the Loan Agreement.

The holder may impose upon the undersigned a delinquency charge of $35.00 or five percent (5.00%) of the amount of the principal and/or interest payment not paid on or before the thirtieth (30th) day after such installment is due, whichever is greater. The entire principal balance hereof, together with accrued interest, shall after maturity, whether by demand, acceleration or