CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flow from Operating Activities
Net loss	€ (2,011)	€ (1,517)
Adjustments to reconcile net loss to net cash provided (used in) by operating activities
Depreciation	18	22
Stock compensation expense - options	24	45
Changes in operating assets and liabilities
Receivables	104	67
Accrued interests on notes payable	1,088	1,243
Accounts payable	(81)	(352)
Deferred revenue from grants	(6)	(376)
Other	(9)	(10)
Net cash used in operating activities	(873)	(878)
Cash Flows from Investing Activities
Purchase of property and equipment	(34)	(3)
Net cash used in investing activities	(34)	(3)
Cash Flows from Financing Activities
Increase in notes payable	1,150	0
Net cash provided by investing activities	1,150	0
Effect of foreign exchange rate on cash	(11)	(4)
Net change in cash	232	(885)
Cash, beginning of period	1,391	2,381
Cash, end of period	€ 1,623	€ 1,496