text: **(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). 