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Debt Financing
 6 Months Ended
Jun. 30, 2011
Debt Financing [Abstract]  
Debt Financing
Note 4. Debt Financing
 
To date, high net worth investors in Switzerland have purchased restricted common shares at prices which are at a premium to the market price of Mymetics shares, and have introduced management to other high net worth individuals who have a similar interest in the Company's science and mission.
 
In addition to purchasing shares, certain principal shareholders have granted the Company secured convertible notes (in accordance with the Uniform Commercial Code in the State of Delaware), which have a total carrying value of E28,954 including interest due to date. Interest incurred on these notes since inception has been added to the principal amounts.
 
The details of the convertible notes, loans and contingent liabilities are as follows at June 30, 2011:

Lender
1st-Issue Date (Note)
 
Principal Amount
  
Duration
 
Interest Rate
 
Conversion Price(stated)
  
Fixed EUR/USD Rate for Conversion Price
 
                  
                  
Round Enterprises Ltd.
06/29/2010
 E2,200   (5) 
5% pa
 
None
    
Round Enterprises Ltd.
09/30/2010
 E1,100   (8) 
5% pa
 
None
    
Round Enterprises Ltd.
12/17/2010
 E1,100   (9) 
5% pa
 
None
    
                  
Total Short Term Principal Amounts
 E4,400             
Accrued Interest
 E181             
Total Short Term Notes from Related Parties
 E4,581             
Eardley Holding A.G.  (1)
06/23/2006
 E132   (2) 
10% pa
 $US 0.10   N/A 
Anglo Irish Bank S.A. (3)
10/21/2007
 E500   (2) 
10% pa
 $US 0.50   1.4090 
Round Enterprises Ltd.
12/10/2007
 E1,500   (2) 
10% pa
 $US 0.50   1.4429 
Round Enterprises Ltd.
01/22/2008
 E1,500   (2) 
10% pa
 $US 0.50   1.4629 
Round Enterprises Ltd.
04/25/2008
 E2,000   (2) 
10% pa
 $US 0.50   1.5889 
Round Enterprises Ltd.
06/30/2008
 E1,500   (2) 
10% pa
 $US 0.50   1.5380 
Round Enterprises Ltd.
11/18/2008
 E1,200   (2) 
10% pa
 $US 0.50   1.2650 
Round Enterprises Ltd.
02/09/2009
 E1,500   (2) 
10% pa
 $US 0.50   1.2940 
Round Enterprises Ltd.
06/15/2009
 E5,500   (2,4) 
10% pa
 $US 0.80   1.4045 
Eardley Holding A.G.
06/15/2009
 E100   (2,4) 
10% pa
 $US 0.80   1.4300 
Von Meyenburg
08/03/2009
 E200   (2) 
10% pa
 $US 0.80   1.4400 
Round Enterprises Ltd.
10/13/2009
 E2,000   (2) 
5% pa
 $US 0.25   1.4854 
Round Enterprises Ltd.
12/18/2009
 E2,200   (2) 
5% pa
 $US 0.25   1.4338 
Total Long Term Principal Amounts
 E19,832               
Accrued Interest
 E4,541               
Total Long Term Convertible Notes to Related Parties
 E24,373               
Total Convertible Notes to Related Parties
 E28,954               
Norwood Secured Loan
04/03/2009
 E2,500   (6) 
5% pa
 $US 0.50   1.2812 
Total Principal Amount
 E2,500               
Accrued Interest
 E280               
Total Convertible Note Payable - other
 E2,780               
Norwood Contingent Liability
 E6,227   (7)           
TOTAL LOANS, NOTES,AND CONTINGENT LIABILITY
 E37,961               
 
(1) Private investment company of Dr. Thomas Staehelin, member of the Board of Directors and of the Audit Committee of the Company. Face value is stated in U.S. dollars at $190,000.

(2) The earlier of: (i) the date that the Company has sufficient revenues to repay, or (ii) upon an event of default. The loan is secured against IP assets of Mymetics Corporation.
 
(3) Renamed Hyposwiss Private Bank Genève S.A. and acting on behalf of Round Enterprises Ltd. which is a major shareholder.

(4) The loan is secured against 2/3rds of the IP assets of Bestewil Holding BV.

(5) The loan has expired on June 30, 2011. A subsequent agreement has been made to convert the loan, including the accrued interest as of July 31, 2011, into 41,542,722 shares at a conversion price of $0.08 per share.

(6) Under the terms of the acquisition of Bestewil BV, as part of the consideration, the Company issued to Norwood Immunology Limited (“NIL”) a convertible redeemable note (the “Note”) in the principal amount of E2,500 with a maturity date of 36 months after the closing date and bearing interest at 5% per annum. The note is secured against 1/3rd of Bestewil common stock.

(7) Under the terms of the acquisition of Bestewil BV, as part of the consideration, the Company is committed to make further payments to NIL in the event that certain stated milestones for the development of vaccines are achieved. These have been considered on a risk probability basis.

(8) The earlier of (i) September 30, 2011 or (ii) upon an event of default.

(9) The earlier of (i) December 16, 2011 or (ii) upon an event of default.