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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (EUR €)
In Thousands, unless otherwise specified
6 Months Ended 290 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Cash Flow from Operating Activities      
Net income (loss) € (1,722) € 3,926 € (65,887)
Adjustments to reconcile net income (loss) to net cash used in operating activities      
Change in the fair value of acquisition-related contingent consideration 0 (6,283) (3,314)
Depreciation 16 9 842
Amortization of intangibles 0 0 481
Impairment of license contract 0 0 2,213
Goodwill impairment 0 0 209
Fees paid in warrants 0 0 223
Gain on sales of equipment 0 0 (69)
Gain on extinguishment of debt 0 0 (774)
Services and fee paid in common stock 0 0 5,403
Stock compensation expense - options 56 3 483
Amortization of debt discount 0 0 1,410
Induced conversion cost 0 0 807
Warrant modification cost 0 0 484
Changes in operating assets and liabilities      
Receivables 3,432 8 (210)
Accounts payable (406) (512) 1,033
Other (44) 3 (56)
Net cash provided by (used in) operating activities 1,332 (2,846) (56,722)
Cash Flows from Investing Activities      
Patents and other 0 0 (393)
Proceeds from sale of equipment 0 0 137
Purchase of property and equipment (13) (58) (403)
Acquisition of subsidiary 0 0 (4,942)
Cash acquired in reverse purchase 0 0 13
Net cash provided by (used in) investing activities (13) (58) (5,588)
Cash Flows from Financing Activities      
Proceeds from exercise of common stock options 0 0 45
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 1,287 3,898 54,636
Decrease in notes payable and other short-term advances (1,538) (1,101) (4,179)
Loan fees 0   (130)
Net cash used in financing activities (251) 2,797 62,974
Effect on foreign exchange rate on cash (27) 31 674
Net change in cash 1,041 (76) 1,338
Cash, beginning of period 297 286 0
Cash, end of period 1,338 210 1,338
Supplemental Disclosure of Cash Flow Information:      
Cash Paid for Interest € 76 € 101