CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flow from Operating Activities
Net loss	€ (898)	€ (1,239)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	8	9
Stock compensation expense - options	6	12
Changes in operating assets and liabilities
Receivables	33	(1)
Accrued interests on notes payable	586	606
Accounts payable	(166)	(21)
Deferred revenue from grants	(189)	(280)
Other	(14)	(74)
Net cash used in operating activities	(634)	(988)
Cash Flows from Investing Activities
Purchase of property and equipment	0	(18)
Net cash used in investing activities	0	(18)
Cash Flows from Financing Activities
Increase in notes payable	0	1,150
Net cash provided by investing activities	0	1,150
Effect of foreign exchange rate on cash	(1)	2
Net change in cash	(635)	146
Cash, beginning of period	1,180	1,391
Cash, end of period	€ 545	€ 1,537