CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flow from Operating Activities
Net loss	€ (2,210)	€ (2,030)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	10	16
Stock compensation expense - options	2	8
Changes in operating assets and liabilities
Receivables	395	(65)
Accrued interests on notes payable	1,350	1,379
Accounts payable	(27)	(210)
Deferred revenue from grants	0	(231)
Other	(7)	(7)
Net cash used in operating activities	(487)	(1,140)
Cash Flows from Financing Activities
Increase in notes payable	600	800
Net cash provided by investing activities	600	800
Effect of foreign exchange rate on cash	6	3
Net change in cash	119	(337)
Cash, beginning of period	479	1,180
Cash, end of period	€ 598	€ 843