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CONSOLIDATED BALANCE SHEETS - EUR (€)
€ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash € 1,083 € 683
Accounts receivable 71 154
Prepaid expenses 85 85
Total current assets 1,239 922
Rent deposit 10 10
Property and equipment, net of accumulated depreciation of E463 and E445 at December 31, 2020 and 2019, respectively 48 52
Right-of-use asset 128 230
Goodwill 6,671 6,671
Total assets 8,096 7,885
Current Liabilities    
Accounts payable 70 167
Operating lease liability 105 102
Non-convertible notes payable and related accrued interest to related parties 7,402 5,308
Convertible notes payable to related parties 55,688 53,378
Total current liabilities 63,265 58,955
Long Term Liabilities    
DEBT- Federal Financing Bank 156 0
Operating lease liability 27 128
Total long-term liabilities 183 128
Total liabilities 63,448 59,083
Commitments and contingencies (Note 6)
Shareholders' Deficit    
Common stock, U.S. $.01 par value; 1,200,000,000 shares authorized at December 31, 2020 and December 2019; issued and outstanding 303,757,622 at December 31, 2020 and 2019 2,530 2,530
Preferred stock, U.S. $.01 par value; 5,000,000 shares authorized; none issued or outstanding 0 0
Additional paid-in capital 34,443 34,443
Accumulated deficit (93,020) (88,862)
Accumulated other comprehensive income 695 691
Total shareholders' deficit (55,352) (51,198)
Total liabilities and shareholders' deficit € 8,096 € 7,885