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Consolidated Statements of Cash Flows (Unaudited)
6 Months Ended
Jun. 30, 2023
EUR (€)
Jun. 30, 2022
EUR (€)
Statement of cash flows [abstract]    
Loss before income taxes € (1,521,681) € (87,198)
Adjustments for:    
Depreciation on plant and equipment 2,029 1,988
Loss on disposal of tangible assets 8,125
Depreciation on right-of-use assets 288,389 44,773
Amortisation of intangible assets 30,937
Stock based compensation charges 92,329
Stock options 85,158
Warrant liabilities 198,209
Change in warrant expense (3,888)
Fair value gain on financial assets at fair value through profit and loss (27,186)  
Interest expense 1,486
Operating loss before working capital changes (847,579) (38,951)
Change in deferred offering costs 262,684
Change in trade and other receivables (61,291) 33,755
Change in deposits and prepayments 119,503 (50,210)
Change in trade and other payables (220,084) 90,413
Cash generated from operations (746,767) 35,007
Tax paid 21,961
Net cash generated from (used in) operating activities (724,806) 35,007
Investing activity    
Purchase of financial assets (96,484)
Purchase of plant and equipment (1,209)
Acquisition of a subsidiary (788,213)
Net cash used in investing activities (884,697) (1,209)
Financing activities    
Repayment of lease liabilities (302,713) (40,304)
Interest portion of lease liabilities (1,392)
Proceeds from shares issuance for cash 6,024,244
Interest paid on long term borrowing (94)
New loans raised 170,639
Contributions 200
Net cash generated from (used in) financing activities 5,892,170 (41,590)
Net increase (decrease) in cash and cash equivalents 4,282,667 (7,792)
Cash and cash equivalents at beginning of the period 347,229 26,957
Effect of foreign exchange rate changes (10,835)
Cash and cash equivalents at end of the period 4,619,061 19,165
Non-cash financing activity    
Right-of-use assets obtained in exchange for lease liabilities € 26,310