text: In Febru a ry 2000, the Company entered into two subscription agreements for the sale of an aggregate of 650,000 new common shares of the 
  C o m p a n y. Closing under these agreements took place on March 13, 2000. These agreements were signed with certain accredited investors in 
  transactions exempt from registration pursuant to the exemptions provided in Section 4(2) and Regulation D of the Act. The purchase price 
  of each share was $6.615, which re p resents 90% of the average closing price for the ten trading days prior to and including Febru a ry 15, 
  2000. The aggregate amount of proceeds to the Company from the private placement was $4.3 million. Under each of the agreements, for 
  each two shares of common stock purchased in the private placement, the purchasers were issued one warrant to purchase a share of Euro n e t 
  common stock at an exercise price of $11.615, expiring in each case on the one year anniversary date of the subscription agreement. 