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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes  
Reconciliation of income taxes

 

 

2021

 

 

2020

 

U.S. Federal statutory rates on net loss before income taxes

 

E

(993

 

E

(868

Effect of foreign statutory rate differences

 

 

(60 )

 

 

(40 )

Effect of exchange rate changes

 

 

(1,089 )

 

 

1,275

 

Expiration of net operating loss carry forwards

 

 

217

 

 

 

123

 

Permanent differences

 

 

-

 

 

 

-

 

Change in valuation allowance

 

 

1,925

 

 

 

(465 )

 

 

 

 

 

 

 

 

 

Income tax provision

 

E

-

 

 

E

25

 

Loss before provision for income taxes

 

 

2021

 

 

2020

 

United States

 

E

3,249

 

 

E

3,147

 

Switzerland

 

 

438

 

 

 

(28 )

The Netherlands

 

 

1,043

 

 

 

1,014

 

 

 

 

 

 

 

 

 

 

Loss before provision

 

E

4,730

 

 

E

4,133

 

Deferred tax assets

 

 

2021

 

 

2020

 

Licenses capitalized for United States tax purposes

 

E

60

 

 

E

129

 

Stock options

 

 

160

 

 

 

160

 

Foreign tax credit carry over

 

 

226

 

 

 

209

 

Net operating loss carry forwards

 

 

 

 

 

 

 

 

United States

 

 

18,067

 

 

 

16,167

 

Switzerland

 

 

61

 

 

 

16

 

The Netherlands

 

 

1,354

 

 

 

1,322

 

 

 

 

 

 

 

 

 

 

 

 

 

19,928

 

 

 

18,003

 

Less valuation allowance for deferred tax asset

 

 

(19,928

)

 

 

(18,003

)

 

 

 

 

 

 

 

 

 

Net deferred tax asset

 

E

--

 

 

E

--

 

Operating loss carryforwards

 

 

United States

 

 

Switzerland

 

 

The Netherlands

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

1,919

 

 

 

--

 

 

 

--

 

2023

 

 

1,278

 

 

 

--

 

 

 

43

 

2024

 

 

1,325

 

 

 

66

 

 

 

--

 

2025

 

 

1,492

 

 

 

--

 

 

 

731

 

2026

 

 

1,861

 

 

 

--

 

 

 

1,005

 

2027-2039

 

 

74,743

 

 

 

178

 

 

 

3,638

 

Perpetual

 

 

3,817

 

 

 

--

 

 

 

--

 

 

 

E

86,035

 

 

E

244

 

 

E

5,417