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Consolidated Balance Sheets - EUR (€)
€ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash € 1,354 € 7,412
Inventory 304 0
Prepaid taxes 531 681
Prepaid expenses and other 103 778
Total Current Assets 2,292 8,871
Property, plant and equipment, net of accumulated depreciation of KEUR51 and KEUR-0- as of December 31, 2024 and 2023, respectively 129 0
Right of use lease assets 630 679
Total Assets 3,051 9,550
Current Liabilities    
Accounts payable and accrued expenses 575 56,576
Lease liability, current portion 58 49
Convertible notes payable at fair value 24,035 25,629
VAT payable 487 14,350
Other current liabilities 5 4
Total Current Liabilities 25,160 96,608
Long-Term Liabilities    
Lease liability, long term portion 572 630
Total Liabilities 25,732 97,238
Commitments and Contingencies (see Note 14)
Shareholders’ Equity    
Additional paid-in capital 298,699 298,621
Accumulated deficit (321,428) (386,454)
Total Shareholders’ Equity (22,681) (87,688)
Total Liabilities and Shareholders’ Equity 3,051 9,550
Ordinary Shares [Member]    
Shareholders’ Equity    
Ordinary Shares, par value €0.02 per share, 4,300,000 shares authorized, 1,409,885 and 1,408,895 shares issued and outstanding as of December 31, 2024 and 2023, respectively (1) [1] 28 85
High Voting Shares [Member]    
Shareholders’ Equity    
Ordinary Shares, par value €0.02 per share, 4,300,000 shares authorized, 1,409,885 and 1,408,895 shares issued and outstanding as of December 31, 2024 and 2023, respectively (1) [1] € 20 € 60
[1] In December 2024, the Company effected a 1-for-75 reverse share split for Ordinary Shares and High Voting Shares. All share and per-share data have been retroactively adjusted throughout this report to account for this share split. In connection with the reverse share split, the Company also decreased the nominal value per share from €0.06 to €0.02 for Ordinary Shares and from €1.50 to €0.5 for High Voting Shares. The amounts presented for the year ended December 31, 2023 reflect the prior nominal values of €0.06 and €1.50.