of ATM hard w a re, adjusting to its net realizable value. 
(11) Notes Payable 
On June 22, 1998, the Company sold 243,211 units in a public offering, each consisting of DM 1,000 principal amount at maturity of 12 3/8%
senior discount notes due on July 1, 2006 and 729,633 warrants to purchase 766,114 shares of common stock. Each warrant entitles the holder
to purchase, on or after June 22, 1998 and prior to July 1, 2006, 1.05 shares of common stock at an exercise price of $5.00 per share. Cash
i n t e rest on the notes will not be payable prior to July 1, 2002. Commencing January 1, 2003, cash interest will be payable semi-annually on
J a n u a ry 1 and July 1 of each year. The notes and the warrants are separately transferable. The gross proceeds to the Company was DM 150.0
million (approximately $83.1 million) re p resenting an issue price of DM 616.75 per DM 1,000 principal amount at maturity . Of this amount,
$1.7 million has been allocated to the warrants within stockholders' equity to reflect their fair market value on the date of issuance. Net
p roceeds to the Company after underwriting discount and offering expenses were DM 145.1 million (approximately $81.3 million). 
Pursuant to the Company’s indenture, the Company is subject to certain restrictions and covenants, including, without limitation, covenants
with respect to the following matters: (i) limitation on additional indebtedness; (ii) limitation on restricted payments; (iii) limitation on
issuance and sales of capital stock of restricted subsidiaries; (iv) limitation on transactions with affiliates; (v) limitation on liens; (vi)
limitation on guarantees of indebtedness by restricted subsidiaries; (vii) purchase of Euronet notes upon a change of control; (viii) limitation
on sale of assets; (ix) limitation on dividends and other payment restrictions affecting restricted subsidiaries; (x) limitation on investments in
u n restricted subsidiaries; (xi) limitation on lines of business; and (xii) provision of financial statements and r e p o rts. The Company is in
compliance with these covenants at December 31, 2000. 
During 1999, the Company re p u rchased notes with a face value of DM 22.0 million and 65,850 warrants for a total purchase price of $5.2
million. This re p u rchase was accounted for as an extinguishment of debt with a resulting $2.7 million (net of income taxes of $0) re c o g n i z e d
as an extraord i n a ry gain on such extinguishment. The extinguishment gain re p resents the diff e rence between the allocated carrying value of
the debt extinguished ($8.1 million) and the consideration paid ($5.0 million), offset by the write-off of the allocated unamortized deferre d
financing costs ($300,000). Of the total purchase price of $5.2 million, $176,000 was allocated to the warrants based on their fair market
value at the time of purchase and re c o rded as an adjustment to additional paid-in capital. Of the total extinguishment gain, $803,000 was
re c o rded in the fourth quarter of 1999 relating to the purchase of notes with a face value of DM 7.6 million on December 13, 1999. 
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