Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments and Risk Management/Loan and warrant [Abstract]

Disclosure of the carrying amounts of financial assets

Financial assets
	December 31, 2017		December 31, 2016
Cash and cash equivalents		14,973,369		32,422,222
Loans and receivables
Other receivables		79,840		134,900
Total financial assets		15,053,209		32,557,122

Disclosure of the carrying amounts of financial liabilities

Financial liabilities
At amortized cost
Trade and other payables	1,200,820	1,837,997
Accrued expenses	4,395,609	4,652,033
Loan	10,126,406	12,364,204
At fair value through profit and loss
Derivative financial instruments	1,836,763	117,132
Total financial liabilities	17,559,598	18,971,366

Disclosure of remaining contractual maturities of derivative financial liabilities

The table below analyses the remaining contractual maturities of financial liabilities, including estimated interest payments as of December 31, 2017 and 2016. The amounts disclosed in the table are the undiscounted cash flows:

	Carrying amount		Less than 3 months		Between 3 months and 2 years		2 years and later		Total
December 31, 2017
Trade and other payables		1,200,820		1,200,820		—		—		1,200,820
Accrued expenses		4,395,609		4,395,609		—		—		4,395,609
Loan and borrowings		10,126,406		1,349,531		9,446,716		1,166,225		11,962,472
Derivative financial instruments		1,836,763		—		—		1,836,763		1,836,763
Total		17,559,598		6,945,960		9,446,716		3,002,988		19,395,664

	Carrying amount		Less than 3 months		Between 3 months and 2 years		2 years and later		Total
December 31, 2016
Trade and other payables		1,837,997		1,837,997		—		—		1,837,997
Accrued expenses		4,652,033		3,632,752		1,019,281		—		4,652,033
Loan and borrowings		12,364,204		311,013		8,725,772		6,834,249		15,871,034
Derivative financial instruments		117,132		—		—		117,132		117,132
Total		18,971,366		5,781,762		9,745,053		6,951,381		22,478,196

Disclosure of fair value measurement of liabilities

Financial assets / liabilities	Fair values as at
	December 31, 2017	December 31, 2016	Fair value hierarchy	Valuation technique(s) and key input(s)
Derivative financial liabilities	Liability 1,836,763	Liability 117,132	Level 2	Black-Scholes option pricing model The share price is determined by our NASDAQ quoted-price. The strike price and maturity are coming from the contract. The volatility assumption is driven by our historic quoted share price and the risk free rate is estimated based on observable yield curves at the end of each reporting period.

						Non-cash changes
	01.01.2017		Financing Cash Flows ¹⁾			Fair value revaluation			Other changes ²⁾			31.12.2017
Derivative financial instrument		117,132		5,091,817			(3,372,186	)		—			1,836,763
Loans		12,364,204		(2,087,076	)		—			(150,722	)		10,126,406
Total		12,481,336		3,004,741			(3,372,186	)		(150,722	)		11,963,169

¹⁾

The financing cash flows are from loan repayment and from issuance of new derivative

²⁾

Internal rate of return changes and fx-difference

Disclosure of maximum exposure to credit risk

The Group’s maximum exposure to credit risk is represented by the carrying amount of each financial asset in the consolidated statement of financial position:

	December 31, 2017		December 31, 2016
Financial assets
Cash and cash equivalents		14,973,369		32,442,222
Other receivables		79,840		134,900
Total		15,053,209		32,577,122

Disclosure of quantitative data about the exposure of financial assets and liabilities to currency risk

The summary of quantitative data about the exposure of the Group’s financial assets and liabilities to currency risk was as follows:

	2017						2016
	USD			EUR			USD			EUR
	(in CHF)
Cash and cash equivalent		13,901,698			116,942			31,124,874			444,075
Trade and other payables		(365,999	)		(426,050	)		(501,249	)		(847,892	)
Accrued expenses		(1,750,752	)		(1,692,946	)		(1,031,096	)		(2,964,552	)
Loan and borrowings		(10,126,406	)		—			(12,364,204	)		—
Derivative financial instruments		(1,836,763	)		—			(117,132	)		—
Net statement of financial position exposure-asset/(liability)		(178,222	)		(2,002,054	)		17,111,193			(3,368,369	)