Transactions with Affiliates

12 Months Ended

Dec. 31, 2011

Transactions with Affiliates [Abstract]

Transactions with Affiliates

Note 3. Transactions with Affiliates

Mr. Ernest M. Stern, the Company's outside U.S. counsel, is both a director of the Company and a partner in Akerman Senterfit LLP, the firm retained as legal counsel by the Company. Fees paid to the law firm in the years ended December 31, 2011 and 2010, amounted to E64 and E111, respectively.

Three of the Company's major shareholders have made available an aggregate E28,200 in the form of notes payable including interest. Conversion prices on the Euro-denominated convertible debt have been fixed to a fixed Euro/US dollar exchange rate.

During the year ending December 31, 2011, two short term convertible loans with a carrying amount of E3,478 were converted into Mymetics common shares at a conversion price of $0.08 per share with an exchange rate of $1.427 per Euro.

The details of these notes and other loans and contingent liabilities are as follows:

									Fixed
									EUR/USD
				Dura-		Inter-	Conversion		Rate
Lender	1st-Issue		Principal	tion		est	Price		Conver-
Price	Date		Amount	(Note)		Rate	(stated)		sion
Norwood Secured Loan	04/03/2009	E	2,500	(5	)	5% pa	US$  0.50		1.2812
Round Enterprises Ltd.	12/09/2010	E	1,100	(7	)	5% pa	None		N/A
Round Enterprses Ltd.	08/04/2011	E	926	(8	)	10% pa	None (10	)	N/A
Eardley Holding A.G.	08/04/2011	E	232	(8	)	10% pa	None (10	)	N/A
Round Enterprises Ltd.	11/08/2011	E	400	(9	)	10% pa	None (10	)	N/A
Eardley Holding A.G.	11/08/2011	E	100	(9	)	10% pa	None (10	)	N/A
Total Short Term Principal Amounts		E	5,258
Accrued Interest		E	453
Total Short Term Notes to Payable to Related Parties		E	5,711
Eardley Holding A.G. (1)	06/23/2006	E	147	(2	)	10% pa	US$ 0.10		N/A
Anglo Irish Bank S.A.(3)	10/21/2007	E	500	(2	)	10% pa	US$ 0.50		1.4090
Round Enterprises Ltd.	12/10/2007	E	1,500	(2	)	10% pa	US$ 0.50		1.4429
Round Enterprises Ltd.	01/22/2008	E	1,500	(2	)	10% pa	US$ 0.50		1.4629
Round Enterprises Ltd.	04/25/2008	E	2,000	(2	)	10% pa	US$ 0.50		1.5889
Round Enterprises Ltd.	06/30/2008	E	1,500	(2	)	10% pa	US$ 0.50		1.5380
Round Enterprises Ltd.	11/18/2008	E	1,200	(2	)	10% pa	US$ 0.50		1.2650
Round Enterprises Ltd.	02/09/2009	E	1,500	(2	)	10% pa	US$ 0.50		1.2940
Round Enterprises Ltd.	06/15/2009	E	5,500	(2,4	)	10% pa	US$ 0.80		1.4045
Eardley Holding A.G.	06/15/2009	E	100	(2,4	)	10% pa	US$ 0.80		1.4300
Von Meyenburg	08/03/2009	E	200	(2	)	10% pa	US$ 0.80		1.4400
Round Enterprises Ltd.	10/13/2009	E	2,000	(2	)	5% pa	US$ 0.25		1.4854
Round Enterprises Ltd.	12/18/2009	E	2,200	(2	)	5% pa	US$ 0.25		1.4338
Total Long Term Principal Amounts		E	19,847
Accrued Interest		E	5,484
Total Long Term Convertible Notesto Related Parties		E	25,331
Total Convertible Notesto Related Parties		E	31,042
Norwood Contingent Liability		E	5,753	(6	)
TOTAL LOANS, NOTES,AND CONTINGENT LIABILITY		E	36,795

(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) 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 April 1st, 2012 and bearing interest at 5% per annum. The note is secured against 1/3rd of Bestewil common stock.

(6) 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.

(7) The loan has matured on December 16, 2011. A subsequent agreement has been made to convert the loan, including the accrued interest as of February 9, 2012, into 19,301,474 shares at a conversion price of $0.08 per share.

(8) The loans expire the earlier of (i) January 31, 2012 or (ii) upon an event of default. The face values of the loans are stated in U.S. dollars at $1,200 and $300, respectively. As per February 14,2012, a subsequent amendment has been made to the maturity date that has been extended to June 30, 2012.

(9) The loans expire the earlier of (i) February 29, 2012 or (ii) upon an event of default. As per February 14, 2012, a subsequent amendment has been made to the maturity date that has been extended to June 30, 2012.

(10)The conversion feature is contingent on an investment in the Company of not less than $20,000. The conversion price is determined by reducing by 10% the price per share of the Company's common stock paid by the investors in connection with such an investment.

Required future payments on long-term debt are as follows as of December 31, 2011:

2012	E	5,711
Contingent liability to Norwood (milestones and royalties)		5,753
Contingent on ability to repay		25,331
	E	36,795