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CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€)
€ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flow from Operating Activities    
Net loss € (4,158) € (4,187)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 18 20
Stock compensation expense - options 0 2
Changes in operating assets and liabilities    
Receivables 83 421
Accrued interests on related party convertible notes payable 2,310 2,622
Accrued interests on related party non-convertible notes payable 144 106
Operating lease 4 0
Accounts payable (97) 92
Other (Prepaid) 0 (48)
Net cash used in operating activities (1,696) (972)
Cash Flows from Investing Activities    
Purchase of property and equipment (14) (36)
Net cash used in investing activities (14) (36)
Cash Flows from Financing Activities    
Borrowing from Federal Bank 156 0
Proceeds from non-convertible notes payable 1,950 1,200
Net cash provided by financing activities 2,106 1,200
Effect on foreign exchange rate on cash 4 12
Net increase in cash 400 204
Cash, beginning of period 683 479
Cash, end of period 1,083 683
Supplemental Disclosure of Cash Flow Information:    
Cash paid for taxes € 15 € 22