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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (EUR €)
In Thousands, unless otherwise specified
9 Months Ended 269 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Cash Flow from Operating Activities      
Net loss € (4,529) € (9,317) € (68,586)
Adjustments to reconcile net loss to net cash used in operating activities      
Change in the fair value of acquisition-related contingent consideration 570 2,583 2,773
Depreciation 21 43 805
Amortization of intangibles 0 144 481
Impairment of license contract 0 2,213 2,213
Goodwill impairment 0 0 209
Fees paid in warrants 0 0 223
Gain on sales of equipment 0 (1) (69)
Gain on extinguishment of debt 0 0 (774)
Services and fees paid in common stock 0 0 5,403
Stock compensation expense - options 34 70 358
Amortization of debt discount 0 600 1,410
Induced conversion cost 0 0 807
Warrant modification cost 0 0 484
Changes in operating assets and liabilities      
Receivables 24 60 33
Accounts payable 74 (255) 1,682
Other 1 (28) (8)
Net cash used in operating activities (3,805) (3,888) (52,556)
Cash Flows from Investing Activities      
Patents and other 0 0 (393)
Proceeds from sale of equipment 0 0 137
Purchase of property and equipment (1) 0 (281)
Acquisition of subsidiary, 0 0 (4,942)
Cash acquired in reverse purchase 0 0 13
Net cash used in investing activities (1) 0 (5,466)
Cash Flows from Financing Activities      
Proceeds from issuance of common stock 0 0 11,630
Borrowing from shareholders 0 0 972
Increase in notes payable and other short-term advances 3,760 2,691 46,712
Decrease in notes payable and other short-term advances 0 0 (1,490)
Loan fees 0   (130)
Net cash provided by financing activities 3,760 2,691 57,694
Effect on foreign exchange rate on cash (7) 25 657
Net change in cash (53) (1,172) 329
Cash, beginning of period 382 1,811 0
Cash, end of period 329 639 329
Supplemental Noncash Financing Activity:      
Issuance of shares on conversion of notes payable € 1,165 € 2,319