CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flow from Operating Activities
Net loss	€ (4,172)	€ (4,112)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	29	39
Stock compensation expense - options	13	36
Changes in operating assets and liabilities
Receivables	(495)	80
Accrued interests on notes payable	2,749	2,275
Deferred revenue from grants	(274)	(891)
Accounts payable	(162)	117
Other	(1)	5
Net cash used in operating activities	(2,313)	(2,451)
Cash Flows from Investing Activities
Purchase of property and equipment	0	(37)
Net cash used in investing activities	0	(37)
Cash Flows from Financing Activities
Increase in notes payable	1,600	2,300
Net cash used in financing activities	1,600	2,300
Effect on foreign exchange rate on cash	12	(23)
Net decrease in cash	(701)	(211)
Cash, beginning of period	1,180	1,391
Cash, end of period	479	1,180
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	€ 0	€ 0