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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - EUR (€)
€ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current Assets    
Cash € 738 € 1,083
Accounts receivable 66 71
Prepaid expenses 75 85
Total current assets 879 1,239
Rent deposit 10 10
Property and equipment, net of accumulated depreciation of E467 at March 31, 2021 and E463 at December 31, 2020 54 48
Right-of-use asset 102 128
Goodwill 6,671 6,671
Total assets 7,716 8,096
Current Liabilities    
Accounts payable 163 70
Operating lease liability 106 105
Non-convertible notes payable and related accrued interest to related parties 7,446 7,402
Convertible notes payable and related accrued interest to related parties 56,455 55,688
Total current liabilities 64,170 63,265
Long Term Liabilities    
Debt - Federal Financing Bank 152 156
Operating lease liability 0 27
Total long-term liabilities 152 183
Total liabilities 64,322 63,448
Commitments and contingencies (Note 3)
Shareholders' Deficit    
Common stock, U.S. $0.01 par value; 1,200,000,000 shares authorized; issued and outstanding 303,757,622 at March 31, 2021 and at December 31, 2020 2,530 2,530
Preferred stock, U.S. $0.01 par value; 5,000,000 shares authorized; none issued or outstanding 0 0
Additional paid-in capital 34,443 34,443
Accumulated deficit (94,266) (93,020)
Accumulated other comprehensive income 687 695
Total shareholders' deficit (56,606) (55,352)
Total liabilities and shareholders' deficit € 7,716 € 8,096