text: **(25) Employee Loans for Common Stock Program**
  
  In October 1999 the Company’s Board of Directors approved and implemented a Loan Agreement Program (“Program”) for cert a i n 
  employees under which the Company has loaned sums of money to participating employees in order for them to purchase shares of the 
  C o m p a n y ’s stock on the open market. The shares are pledged to the Company to secure the loans. As of December 31, 2000 166,195 share s 
  a re held by the Company as collateral for the loans. The loans carry five-year terms are non-recourse, non-interest bearing loans. The share s 
  vest to the employees in five equal tranches of 20 percent of the shares for five years, commencing at the date each employee began 
  employment with the Company. As the shares vest, the employees are entitled to pay off the loans and free the shares of the pledge. These 
  loans are considered an award of stock options as the loans are non-recourse and the employee is not obligated to pay any interest on the 
  loans. The loans have been accounted for as a separate component of stockholders’ deficit. In the event that any one of the employees 
  defaults on the term of the loans, the shares received by the Company will be re c o rded as tre a s u ry stock. 