View Filing Data

€ 17,762

€ 17,995

Research and development expenses

(10,201)

(10,427)

Gross profit

7,561

7,568

(2,200)

(1,865)

Selling and marketing expenses

(5,080)

(4,863)

General and administrative expenses

(1,763)

(1,688)

Income (Loss) from operations

(1,482)

(848)

Financial income (expense), net

528

1,408

Foreign Currency exchange (losses) gains, net

456

(450)

Income (loss) before taxes

(498)

110

Income tax (expense) credit

(180)

(175)

Net income (loss)

€ (679)

€ (65)

Basic income (loss) per share (in EUR per share)

€ (0.02)

€ 0

Diluted income (loss) per share (1) (in EUR per share)

^[1]

€ (0.02)

€ 0

Basic weighted average shares outstanding (in shares)

28,997,866

28,919,984

Diluted weighted average shares outstanding (1) (in shares)

^[1]

28,997,866

28,919,984

Product [Member]

€ 10,929

€ 11,478

HIFU Treatments and Devices Leased [Member]

(6,042)

(6,464)

2,480

2,599

Parts and Services [Member]

(1,355)

(1,364)

4,338

3,879

Product and Services, Excluding Other [Member]

(2,823)

(2,600)

Product and Service, Other [Member]

17,748

17,956

€ 14

€ 40

[1]	Due to the net loss in the first six months of 2018, the assumed net exercise of stock options/warrants and stock relating to the convertible bonds in this year was excluded, as the effect would have been anti-dilutive.

Consolidated Statement of Shareholders' Equity (Unaudited) - 6 months ended Jun. 30, 2018 - EUR (€) € in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2017	28,997,866
Balance at Dec. 31, 2017	€ 3,818	€ 65,694	€ (39,608)	€ (3,604)	€ (1,142)	€ 25,158
Net income (loss)			(679)			(679)
Translation adjustment				(82)		(82)
Warrants and stock options granted		152				152
Capital increase or warrants and stock options exercised
Balance (in shares) at Jun. 30, 2018	28,997,866
Balance at Jun. 30, 2018	€ 3,818	€ 65,846	€ (40,287)	€ (3,686)	€ (1,142)	€ 24,550

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows (Unaudited) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income (loss)	€ (679)	€ (65)
Adjustments to reconcile net income (loss) to net cash generated by (used in) operating activities:
Depreciation and amortization	672	591
Change in warrants fair value	(545)	(1,421)
Other Non-cash compensation	152	217
Change in allowances for doubtful accounts & slow-moving inventories	114	89
Change in long-term provisions	188	53
Net capital loss on disposals of assets	19	24
Deferred tax expense/(benefit) 6	(89)	(40)
Operating cash flow	(168)	(551)
Increase/Decrease in operating assets and liabilities:
Decrease/(Increase) in trade accounts and notes and other receivables	(393)	(644)
Decrease/(Increase) in inventories	(413)	(361)
Decrease/(Increase) in other assets	(717)	(1,033)
(Decrease)/Increase in trade accounts and notes payable	308	(708)
(Decrease)/Increase in accrued expenses, other current liabilities	425	(357)
Net increase/decrease in operating assets and liabilities	(790)	(3,103)
Net cash generated by (used in) operating activities	(958)	(3,654)
Cash flows from investing activities:
Additions to capitalized assets produced by the Company	(676)	(438)
Net proceeds from sale of leased back assets	139
Acquisitions of property and equipment	(282)	(251)
Acquisitions of intangible assets	(260)	(12)
Decrease/(Increase) in deposits and guarantees	(33)	(9)
Net cash generated by (used in) investing activities	(1,111)	(710)
Cash flow from financing activities:
Proceeds from capital increase		548
Proceeds from stock-option exercise		115
Proceeds from long term borrowings, net of financing costs	400	802
Repayment of long term borrowings	(224)	(144)
Repayment of obligations under capital leases	(113)	(117)
Increase/(decrease) in bank overdrafts and short-term borrowings	(617)	(378)
Net cash generated by (used in) financing activities	(554)	826
Net effect of exchange rate changes on cash and cash equivalents	(179)	104
Net increase (decrease) in cash and cash equivalents	(2,802)	(3,435)
Cash and cash equivalents at beginning of year	20,004	21,989
Cash and cash equivalents at end of period	€ 17,203	€ 18,554

Note 1 - Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2018

Significant Accounting Policies [Text Block]

1—SUMMARY

OF SIGNIFICANT ACCOUNTING POLICIES

Nature of operations

EDAP TMS S.A. and its subsidiaries (‘‘the Company’’) are engaged in the development, production, marketing, distribution and maintenance of a portfolio of minimally invasive medical devices for the treatment of urological diseases. The Company currently produces innovative robotic devices for treating stones of the urinary tract and localized prostate cancer. We also derive revenues from the distribution of urodynamics products and urology lasers. Net sales consist primarily of direct sales to hospitals and clinics in France and Europe, export sales to

third

-party distributors and agents, and export sales through subsidiaries based in Germany, Italy, the United States and Asia.

Moreover, the Company develops a novel HIFU treatment for liver cancer in cooperation with its long-term academic partner INSERM and leading cancer centers (the “HECAM” project).

The Company purchases the majority of the components used in its products from a number of suppliers but for some components, relies on a single source. Delay would occur if the supply of these components or other components was interrupted and these delays could be extended in certain situations where a component substitution

may

require regulatory approval. Failure to obtain adequate supplies of these components in a timely manner could have a material adverse effect on the Company’s business, financial position and results of operation.

Basis of preparation

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP).

Certain prior year comparative information in the financial statements has been revised to conform to the current year presentation. The revision relates to the reclassification of conditional advance cash flows from operating activities (“net increase (decrease) in operating assets and liabilities”) to financing activities (“proceeds from long term borrowings, net of financing cost” and “repayment of long-term borrowings”).

Management estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (‘‘U.S. GAAP’’) requires management to make estimates and assumptions, such as business plans, stock price volatility, duration of standard warranty per market and cost of maintenance contract used to determine the amount of revenue to be deferred and life duration of our range of products. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Consolidation

The accompanying consolidated financial statements include the accounts of EDAP TMS S.A. and all its domestic and foreign owned subsidiaries, which include EDAP TMS France SAS, EDAP Technomed Inc. (USA), Edap Technomed Sdn Bhd (Malaysia), Edap Technomed Italia S.R.L, EDAP Technomed Co. Ltd. (Japan) and EDAP TMS Gmbh (Germany). Edap Technomed Sdn Bhd was incorporated in early

1997.

Edap Technomed Co. Ltd. was created in late

1996.

EDAP TMS Gmbh was created in

July 2006.

EDAP SA, a subsidiary incorporating HIFU activities merged all of its activity into EDAP TMS France SAS in

2008.

All intercompany transactions and balances are eliminated in consolidation.

Revenue recognition

Sales of goods:

For medical device sales with

significant remaining vendor obligation, payments contingent upon customer financing, acceptance criteria that can be subjectively interpreted by the customer, or tied to the use of the device, revenue is recognized when evidence of an arrangement exists, title to the device passes (depending on terms, either upon shipment or delivery), and the customer has the intent and ability to pay in accordance with contract payment terms that are fixed or determinable. For sales in which payment is contingent upon customer financing, acceptance criteria can be subjectively interpreted by the customer, or payment depends on use of the device, revenue is recognized when the contingency is resolved. The Company provides training and provides a minimum of

one

-year warranty upon installation. The Company accrues for the warranty costs at the time of sale. Revenues related to disposables are recognized when goods are delivered.

Our device sale arrangements

may

contain multiple elements, including device(s), consumables and service. We generally deliver all the devices within days of entering into the system sale arrangement, and consumables and service over the period agreed in the arrangement. Each of these elements is a separate unit of accounting. Devices, consumables and service are also sold on a stand-alone basis.

For multiple-element arrangements, revenue is allocated to each unit of accounting based on their relative selling prices. Relative selling prices are based

first

on vendor specific objective evidence of fair value (“VSOE”), then on

third

-party evidence of selling price (“TPE”) when VSOE does

not

exist, and then on management's best estimate of the selling price (“ESP”) when VSOE and TPE do

not

exist.

Consumables revenues are deferred until delivery and services revenues are deferred until execution.

Sales of RPPs and leases:

Revenues related to the sale of HIFU treatments invoiced on a ‘‘Revenue-Per-Procedure’’ (‘‘RPP’’) basis are recognized when the treatment procedure has been completed. Revenues from devices leased to customers under operating leases are recognized on a straight-line basis.

Sales of spare parts and services:

Revenues related to spare parts are recognized when goods are delivered. Maintenance contracts rarely exceed

one

year and are recognized on a straight line basis. Billings or cash receipts in advance of services due under maintenance contracts are recorded as deferred revenue.

Costs of sales

Costs of sales include all direct product costs, costs related to shipping, handling, duties and importation fees, as well as certain indirect costs such as service and supply chain departments expenses. Indirect costs are allocated by type of sales (goods, RPP and leases, spare parts and services) using an allocation method determined by management by type of costs and segment activities and reviewed on an annual basis.

Shipping and handling costs

The Company recognizes revenue from the shipping and handling of its products as a component of revenue. Shipping and handling costs are recorded as a component of cost of sales.

Cash equivalents and short term investments

Cash equivalents are cash investments which are highly liquid and have initial maturities of

days or less.

Cash investments with a maturity higher than

days are considered as short-term investments.

Accounts Receivables

Accounts receivables are stated at cost net of allowances for doubtful accounts. The Company makes judgments as to its ability to collect outstanding receivables and provides allowances for the portion of receivables when collection becomes doubtful. Provision is made based upon a specific review of all significant outstanding invoices. These estimates are based on our bad debt write-off experience, analysis of credit information, specific identification of probable bad debt based on our collection efforts, aging of accounts receivables and other known factors. Accounts receivables also include receivables factored for which the Company is supporting the collection risk.

Inventories

Inventories are valued at the lower of cost (manufacturing cost, which is principally comprised of components and labor costs for our own manufactured products, or purchase price for urology products we distribute), or on net realizable value. Cost is determined on a

first

-in,

first

-out basis for components and spare parts and by specific identification for finished goods (medical devices). The Company establishes reserves for inventory estimated to be obsolete, unmarketable or slow moving,

first

based on a detailed comparison between quantity in inventory and historical consumption and then based on case-by-case analysis of the difference between the cost of inventory and the related estimated market value.

Property and equipment

Property and equipment is stated at historical cost. Depreciation and amortization of property and equipment are calculated using the straight-line method over the estimated useful life of the related assets, as follows:

Leasehold improvements.........................................	10 years or lease term if shorter
Equipment..............................................................	3-10 years
Furniture, fixtures, fittings and other .....................	2-10 years

Equipment includes industrial equipment and research equipment that has alternative future uses. Equipment also includes devices that are manufactured by the Company and leased to customers through operating leases related to Revenue-Per-Procedure transactions and devices subject to sale and leaseback transactions. This equipment is depreciated over a period of

seven

years.

Long-lived assets

The Company reviews the carrying value of its long-lived assets, including fixed assets and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets

may

not

be fully recoverable. Recoverability of long-lived assets is assessed by a comparison of the carrying amount of the assets (or the Group of assets, including the asset in question, that represents the lowest level of separately-identifiable cash flows) to the total estimated undiscounted cash flows expected to be generated by the asset or group of assets. If the future net undiscounted cash flows is less than the carrying amount of the asset or group of assets, the asset or group of assets is considered impaired and an expense is recognized equal to the amount required to reduce the carrying amount of the asset or group of assets to its then fair value. Fair value is determined by discounting the cash flows expected to be generated by the assets, when the quoted market prices are

not

available for the long-lived assets. Estimated future cash flows are based on assumptions and are subject to risk and uncertainty.

Goodwill and intangible assets

Goodwill represents the excess of purchase price over the fair value of identifiable net assets of businesses acquired. Goodwill is

not

amortized but instead tested annually for impairment or more frequently when events or change in circumstances indicate that the assets might be impaired by comparing the carrying value to the fair value of the reporting units to which it is assigned. Under ASC

350,

“Goodwill and other intangible assets”, the impairment test is performed in

two

steps. The

first

step compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit is less than its carrying amount, a

second

step is performed to measure the amount of impairment loss. The

second

step allocates the fair value of the reporting unit to the Company’s tangible and intangible assets and liabilities. This derives an implied fair value for the reporting unit’s goodwill. If the carrying amount of the reporting units goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized equal to that excess. For the purpose of any impairment test, the Company relies upon projections of future undiscounted cash flows and takes into account assumptions regarding the evolution of the market and its ability to successfully develop and commercialize its products.

Changes in market conditions could have a major impact on the valuation of these assets and could result in additional impairment losses.

Intangible assets consist primarily of purchased patents relating to lithotripters, purchased licenses, a purchased trade name and a purchased trademark. The basis for valuation of these assets is their historical acquisition cost. Amortization of intangible assets is calculated by the straight-line method over the shorter of the contractual or estimated useful life of the assets, as follows:

Patents....................................................................	5 years
SAP Licenses........................................................	10 years
Other Licenses......................................................	5 years
Trade name and trademark .....................................	7 years

Treasury Stocks

Treasury stock purchases are accounted for at cost. The sale of treasury stocks is accounted for using the

first

out method. Gains on the sale or retirement of treasury stocks are accounted for as additional paid-in capital whereas losses on the sale or retirement of treasury stock are recorded as additional paid-in capital to the extent that previous net gains from sale or retirement of treasury stocks are included therein; otherwise the losses shall be recorded to accumulated benefit (deficit) account. Gains or losses from the sale or retirement of treasury stock do

not

affect reported results of operations. Treasury stocks held by a Company cannot exceed

10%

of the total number of shares issued.

Warranty expenses

The Company provides customers with a warranty for each product sold and accrues warranty expense at time of sale based upon historical claims experience. Standard warranty period

may

vary from

year to

years depending on the market. Actual warranty costs incurred are charged against the accrual when paid and are classified in cost of sales in the statement of income.

Income taxes

The Company accounts for income taxes in accordance with ASC

740,

‘‘Accounting for Income Taxes’’ Under ASC

740,

deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured by applying enacted tax rates and laws to taxable years in which such differences are expected to reverse. A valuation allowance is established if, based on the weight of available evidence, it is more likely than

not

that some portion, or all of the deferred tax assets, will

not

be realized. In accordance with

ASC740,

provision has been made for income or withholding taxes on undistributed earnings of foreign subsidiaries, such undistributed earnings being permanently reinvested.

As of

January 1, 2007,

the Company adopted

FIN48

(now ASC

740

) "Accounting for uncertainty in income tax". Under

ASC740,

the measurement of a tax position that meets the more-likely-that-

not

recognition threshold must take into consideration the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances and information available at the reporting date.

Research and development costs

Research and development costs are recorded as an expense in the period in which they are incurred. The French government provides tax credits to companies for innovative research and development.

This tax credit is calculated based on a percentage of eligible research and development costs and it can be refundable in cash and is

not

contingent on future taxable income. As such, the Company considers the research tax credits as a grant, offsetting operating expenses

Advertising costs

Advertising costs are recorded as an expense in the period in which they are incurred.

Foreign currency translation and transactions

Translation of the financial statements of consolidated companies

The reporting currency of EDAP TMS S.A. for all years presented is the euro (€). The functional currency of each subsidiary is its local currency. In accordance with ASC

830,

all accounts in the financial statements are translated into euro from the functional currency at exchange rate as follows:

	•	assets and liabilities are translated at year-end exchange rates;
	•	shareholders’ equity is translated at historical exchange rates (as of the date of contribution);
	•	statement of income items are translated at average exchange rates for the year; and
	•	translation gains and losses are recorded in a separate component of shareholders’ equity.

Foreign currencies transactions

Transactions involving foreign currencies are translated into the functional currency using the exchange rate prevailing at the time of the transactions. Receivables and payables denominated in foreign currencies are translated at year-end exchange rates. The resulting unrealized exchange gains and losses are carried to the statement of income.

Presentation in the Income Statement

Aggregate foreign currency transactions gains and losses are disclosed in a single caption in the income statement under section “Foreign currency exchange gain (loss), net”.

Earnings per share

Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share reflects potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The dilutive effects of the Company’s common stock options and warrants is determined using the treasury stock method to measure the number of shares that are assumed to have been repurchased using the average market price during the period, which is converted from U.S. dollars at the average exchange rate for the period.

Derivative instruments

ASC

815

requires the Company to recognize all of its derivative instruments as either assets or liabilities in the statement of financial position at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must classify the hedging instrument, based upon the exposure being hedged, as fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation.

Gains and losses from derivative instruments are recorded in the income statement.

Employee stock option plans

June 30, 2018,

the Company had

four

stock-based employee compensation plans. The Company adopted ASC

718,

“Share-Based Payment”, effective

January 1, 2006.

ASC

718

requires the recognition of fair value of stock compensation as an expense in the calculation of net income (loss).

The Company granted

260,000

stock options to subscribe to new shares to certain employees of the Company in

April 2017.

The fair value of each stock option granted during the year is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

	06-30-2018 (1)		12-31-2017
Weighted-average expected life (years)		-		6.25
Expected volatility rates		-		57.4	%
Expected dividend yield		-		—
Risk-free interest rate		-		0.02	%
Weighted-average exercise price (€)		-		2.39
Weighted-average fair value of options granted during the year (€)		-		1.29

(

)

The company did

not

make any grants during the period ended

June 30, 2018.

Warrants

May 28, 2013,

pursuant to a securities purchase agreement dated

May 20, 2013,

as amended, the Company issued new ordinary shares in the form of ADSs to selected institutional investors in a registered direct placement (the

“May 2013

Placement”) with warrants attached (the

“May 2013

Investor Warrants”). The Company also issued warrants to the placement agent, H.C. Wainwright & Co., LLC (the

“May 2013

Placement Agent Warrants” and together with the

May 2013

Investor Warrants, the

“May 2013

Warrants”). As the

May 2013

Warrants comprised the same structure and provisions than the

March 2012

Warrants, including an exercise price determined in U.S. dollars while the functional currency of the Company is the Euro, the Company determined that the

May 2013

Warrants should be accounted for as a liability.

The Company used the Black-Scholes pricing model to value the

May 2013

Warrants at inception, with changes in fair value recorded as a financial expense or income.

April 14, 2016,

pursuant to a securities purchase agreement dated

April 7, 2016,

as amended, the Company issued new ordinary shares in the form of ADSs to selected institutional investors in a registered direct placement (the

“April 2016

Placement”) with warrants attached (the

“April 2016

Investor Warrants”). As the

April 2016

Warrants comprised the same structure and provisions than the

March 2012

and

May 2013

Warrants, including an exercise price determined in U.S. dollars while the functional currency of the Company is the Euro, the Company determined that the

April 2016

Warrants should be accounted for as a liability.

The Company used the Black-Scholes pricing model to value the

April 2016

Warrants at inception, with changes in fair value recorded as a financial expense or income.

Leases and Sales and leaseback transactions

In accordance with ASC

840,

Accounting for Leases, the Company classifies all leases at the inception date as either a capital lease or an operating lease. A lease is a capital lease if it meets any

one

of the following criteria; otherwise, it is an operating lease:

Ownership is transferred to the lessee by the end of the lease term;

The lease contains a bargain purchase option;

The lease term is at least

75%

of the property's estimated remaining economic life;

The present value of the minimum lease payments at the beginning of the lease term is

90%

or more of the fair value of the leased property to the lessor at the inception date.

For sales type leases, the following

two

additional criteria are applied:

Collectability of the minimum lease payment is reasonably predictable;

important uncertainties surround the amount of un-reimbursable costs yet to be incurred by the lessor under the lease.

The Company enters into sale and leaseback transactions from time to time. In accordance with ASC

840,

any profit or loss on the sale is deferred and amortized prospectively over the term of the lease, in proportion to the leased asset if a capital lease, or in proportion to the related gross rental charged to expense over the lease term, if an operating lease.

Note 2 - Cash, Cash Equivalents and Short Term Investments

6 Months Ended

Jun. 30, 2018

Cash and Cash Equivalents Disclosure [Text Block]

2—CASH,

CASH EQUIVALENTS AND SHORT TERM INVESTMENTS

Cash and cash equivalents and short terms investments are comprised of the following:

	06-30-2018	12-31-2017
Total cash and cash equivalents	17,203	20,004
Short term investments	-	-
Total cash and cash equivalent and short term investments	17,203	20,004

Short term investments are comprised of money market funds. The aggregate fair value of the short-term investments is consistent with their book value.

Note 3 - Inventories

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Text Block]

3—INVENTORIES

Inventories consist of the following:

	06-30-2018		12-31-2017
Components, spare parts	4,824		3,909
Work-in-progress	-		729
Finished goods – own manufactured products	1,629		1,167
Finished goods – distribution products	1,477		1,656
Total gross inventories	7,930		7,461
Less: allowance for slow-moving inventory and net realizable value	(856	)	(722	)
Total	7,074		6,739

The provision for slow moving inventory relates to components and spare parts.

Note 4 - Short-term Borrowings	6 Months Ended
Note 4 - Short-term Borrowings	Jun. 30, 2018
Notes to Financial Statements
Short-term Debt [Text Block]	4—SHORT -TERM BORROWINGS As of June 30, 2018, short-term borrowings consist mainly of €2,112 thousand of account receivables factored and for which the Company is supporting the risk of non-collection. As of June 30, 2017, short-term borrowings consist mainly of €1,253 thousand of account receivables factored and for which the Company is supporting the risk of non-collection.

Note 5 - Capital Lease Obligations	6 Months Ended
Note 5 - Capital Lease Obligations	Jun. 30, 2018
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	5—CAPITAL LEASE OBLIGATIONS The Company leases certain of its equipment under capital leases. At June 30, 2018, this equipment consists mainly of medical devices for a liability amount of €173 thousand and vehicles and other IT equipment for a liability amount of €746 thousand.

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value

6 Months Ended

Jun. 30, 2018

Long-term Debt [Text Block]

6—

LONG TERM DEBT, AND FINANCIAL INSTRUMENTS CARRIED AT FAIR VALUE

Long-term debt:

	06-30-2018			12-31-2017
France term loan		613			700
Japanese term loan (YEN)		-			40
Germany term loan		728			399
Italy term loan		53			78
Total long term debt		1,394			1,217
Less current portion		(375	)		(383	)
Total long-term portion		1,019			834

As of

December 31, 2017,

long-term debt in Japan consists of

two

loans in Yen with the following conditions:

	Initial Amount		Maturation	Fixed Interest rate			Frequency of principal payments
EDAP Technomed Co. Ltd		55,000,000	June 30, 2018		1.80	%	Monthly instalment
		10,000,000	June 30, 2018		2.10	%	Monthly instalment

As of

June 30, 2018,

long-term debt in Germany consists of

three

loans in euro with the following conditions:

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

450,000

November 30, 2020

2.49

Monthly instalment

This loan is pledged by an HIFU equipment with a purchase value of

€450

thousand.

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

136,500

December 31, 2022

2.25

Monthly instalment

This loan is pledged by an UDS equipment with a purchase value of

€136

thousand.

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

400,000

March 31, 2023

2.40

Monthly instalment

This loan is pledged by an HIFU equipment with a purchase value of

€400

thousand.

As of

December 31, 2017

long-term debt in Germany consists of

two

loans in euro with the following conditions:

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

450,000

November 30, 2020

2.49

Monthly instalment

This loan is pledged by an HIFU equipment with a purchase value of

€450

thousand.

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

136,500

December 31, 2022

2.25

Monthly instalment

This loan is pledged by an UDS equipment with a purchase value of

€136

thousand.

As of

June 30, 2018

and

December 31, 2017,

long-term debt in Italy consists of a loan in euro for an initial amount of

€242

thousand with an interest rate of Euribor

month +

4.5%

due to mature on

June 6, 2019.

As of

June 30, 2018

and

December 31, 2017,

long-term debt in France consists of

one

loan in Euro to finance the ERP project with the following conditions:

Initial Amount

Maturation

Fixed Interest rate

Reimbursement Periodicity

EDAP TMS FRANCE

700,000

October 16, 2021

0.40

Quarterly instalment

Financial instruments carried at fair value:

	06-30-2018			12112-31-2017
Investor Warrants		319			840
Total		319			840
Less current portion		(319	)		(840	)
Total long-term portion		-			-

May 28, 2013,

pursuant to a securities purchase agreement dated

May 20, 2013,

as amended, the Company issued

3,000,000

ordinary shares in the form of ADSs to selected institutional investors in a registered direct placement (the

“May 2013

Placement”), at a price of

$4.00

per share, with warrants attached (the

“May 2013

Investor Warrants”). The

May 2013

Investor Warrants allow investors to purchase up to

1,500,000

shares in the form of ADSs at an exercise price of

$4.25.

The

May 2013

Investor Warrants are exercisable from

November 29, 2013

and expire on

November 29, 2018.

The Company also issued warrants to purchase up to

180,000

shares in the form of ADSs to the placement agent, H.C. Wainwright & Co., LLC, with an exercise price of

$5.00

per share (the

“May 2013

Placement Agent Warrants” and together with the Investor Warrants, the

“May 2013

Warrants”). The

May 2013

Placement Agent Warrants were exercisable from

November 29, 2013

and expired on

May 28, 2016.

As the

May 2013

Warrants comprised the same structure and provisions than the

March 2012

Warrants, including an exercise price determined in U.S. dollars while the functional currency of the Company is the Euro, the Company determined that the

May 2013

Warrants should be accounted for as a liability. Total gross proceeds for the placement amounted to

$12.0

million (€

9.270

million), out of which

$3.817

million (

€2.950

million) allocated to the Investor and Placement Agent Warrants based on their fair value and accounted for as liability, and the remaining

$8.183

million (

€6.320

million) allocated to the share capital increase. The form of the securities purchase agreement and the form of Investor Warrant werefurnished to the SEC on our report on Form

-K dated

May 28, 2013.

The Company used the Black-Scholes pricing model to value the

May 2013

Warrants at inception, with changes in fair value recorded as a financial expense or income.

April 14, 2016,

pursuant to a securities purchase agreement dated

April 7, 2016,

the Company issued

3,283,284

ordinary shares in the form of ADSs to selected institutional investors in a registered direct placement (the

“April 2016

Placement”), at a price of

$3.50

per share, with warrants attached (the

“April 2016

Investor Warrants”). The

April 2016

Investor Warrants allow investors to purchase up to

3,283,284

shares in the form of ADSs at an exercise price of

$4.50.

The

April 2016

Investor Warrants are exercisable from

October 14, 2016

and expire on

October 14, 2018.

As the

April 2016

Warrants comprised the same structure and provisions than the

May 2013

Warrants, including an exercise price determined in U.S. dollars while the functional currency of the Company is the Euro, the Company determined that the

April 2016

Warrants should be accounted for as a liability. Total gross proceeds for the placement amounted to

$11.5

million (€

10.2

million), out of which

$3.578

million (

€3.168

million) allocated to the Investor Warrants based on their fair value and accounted for as liability, and the remaining

$7.913

million (

€7.006

million) allocated to the share capital increase. The form of the securities purchase agreement and the form of Investor Warrant were furnished to the SEC on our report on Form

-K dated

April 14, 2016.

The Company used the Black-Scholes pricing model to value the

April 2016

Warrants at inception, with changes in fair value recorded as a financial expense or income.

As of

June 30, 2018,

all of the

March 2012

placement agent warrants were exercised or forfeited.

Fair Value of the

May 2013

Investor Warrants:

The valuation model of the Investor Warrants uses the following main assumptions and parameters based on a Black-Scholes model. Note that Warrant’s maturity is assumed to be their legal duration as per Warrant contract.

	At inception date			June 30, 2018			December 31, 2017
Share price at closing date	$	3.96		$	3.03		$	2.87
Strike price of warrants	$	4.25		$	4.25		$	4.25
Risk free interest rate at 5.5 years		1.07	%		0	%		0	%
Share price volatility		71	%		57.40	%		57.40	%
Dividend rates		0	%		0	%		0	%
Unit fair value	$	2.35		$	0.13		$	0.26
Total fair value (in thousand)	$	3.525		$	193		$	392
Total equivalent amount (in thousand €)	€	2,725		€	166		€	328

Fair Value of the

April 2016

Investor Warrants:

	At inception date			June 30, 2018			December 31, 2017
Share price at closing date		3.64			3.03			2.87
Strike price of warrants	$	4.50		$	4.50		$	4.50
Risk free interest rate at 2.5 years		0	%		0	%		0	%
Share price volatility		60.20	%		57.40	%		57.40	%
Dividend rates		0	%		0	%		0	%
Unit fair value	$	1.09		$	0.05		$	0.19
Total fair value (in thousand)	$	3.579		$	179		$	614
Total equivalent amount (in thousand €)	€	3,168		€	153		€	513

Long-term debt and financial instruments maturity:

Long-term debt and financial instruments carried at fair value at

June 30, 2018

mature as follows:

2018	529
2019	395
2020	364
2021	284
2022	112
2023	28
Total	1,713

Note 7 - Shareholders' Equity

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note Disclosure [Text Block]

7—SHAREHOLDERS’

EQUITY

Common stock

As of

June 30, 2018,

EDAP TMS S.A.’s common stock consisted of

29,368,394

issued shares, fully paid, and with a par value of

€0.13

each.

28,997,866

of the shares were outstanding.

Pre-emptive subscription rights

Shareholders have preemptive rights to subscribe on a

pro rata

basis for additional shares issued by the Company for cash. Shareholders

may

waive such preemptive subscription rights at an extraordinary general meeting of shareholders under certain circumstances. Preemptive subscription rights, if

not

previously waived, are transferable during the subscription period relating to a particular offer of shares.

Dividend rights

Dividends

may

be distributed from the statutory retained earnings, subject to the requirements of French law and the Company’s by-laws. The Company has

not

distributed any dividends since its inception.

Treasury stock

As of

June 30, 2018,

the

370,528

shares of treasury stock consisted of (i)

190,238

shares acquired between

August

and

December 1998

for

€649

thousand, and (ii)

180,290

shares acquired in

June

and

July 2001

for

€493

thousand. All

370,528

shares of treasury stock have been acquired to cover outstanding stock options (see Note

Stock-option plans

As of

June 30, 2018,

the

370,528

ordinary shares held as treasury stock were dedicated to serve stock purchase option plans as follows:

127,100

shares which

may

be purchased at a price of

€2.38

per share pursuant to the exercise of options that were granted on

June 25, 2010.

As of

June 30 2018,

the Company sponsored

four

stock purchase and subscription option plans:

May 22, 2007,

the shareholders of the Company authorized the Board of Directors to grant up to

600,000

options to subscribe to

600,000

new Shares. Conforming to this stock option plan, the Board of Directors granted

504,088

options to subscribe to new Shares to certain employees of EDAP TMS on

October 29, 2007,

and

95,912

options to subscribe to new Shares to certain employees of EDAP TMS on

June 25, 2010.

Under this plan,

50,000

options to subscribe to new shares were still in force on

June 30, 2018.

June 24, 2010,

the shareholders of the Company authorized the Board of Directors to grant up to

229,100

options to purchase up to

229,100

Shares. Conforming to this stock option plan, the Board of Directors granted

229,100

options to purchase Shares to certain employees of EDAP TMS on

June 25, 2010.

Under this plan,

120,100

options were still in force on

June 30, 2018.

December 19, 2012,

the shareholders authorized the Board of Directors to grant up to

500,000

options to subscribe to

500,000

new shares at a fixed price to be set by the Board of Directors. Conforming to this stock option plan, the Board of Directors granted

500,000

options to subscribe Shares to certain employees of EDAP TMS on

January 18, 2013.

Under this plan,

297,500

options were still in force on

June 30, 2018.

February 18, 2016,

the shareholders authorized the Board of Directors to grant up to

1,000,000

options to subscribe to

1,000,000

new shares at a fixed price to be set by the Board of Directors. Conforming to this stock option plan, the Board of Directors granted

575,000

options to subscribe Shares to certain employees of EDAP TMS on

April 26, 2016.

Under this plan,

505,000

options were still in force on

June 30, 2018.

Conforming to this

February 18, 2016

stock option plan, the Board of Directors granted

260,000

options to subscribe Shares to certain employees of EDAP TMS on

April 25, 2017.

Under this plan,

215,000

options were still in force on

June 30, 2018.

As of

June 30, 2018,

a summary of stock option activity to purchase or to subscribe to Shares under these plans is as follows:

	June 30, 2018					December 31, 2017					December 31, 2016
	Options			Weighted average exercise price (€)		Options			Weighted average exercise price (€)		Options			Weighted average exercise price (€)
Outstanding on January 1,		1,207,600			2.61		1,427,438			2.94		917,188			2.79
Granted		-			-		260,000			2.39		575,000			3.22
Exercised		-			-		(60,000	)		1.91		-			-
Forfeited		(20,000	)		3.22		(134,750	)		3.11		(64,750	)		3.30
Expired		-			-		(285,088	)		3.99		-			-
Outstanding at the end of the period		1,187,600			2.60		1,207,600			2.61		1,427,438			2.94
Exercisable at the end of the period		773,850			2.44		598,850			2.29		774,938			2.87
Shares purchase options available for grant on at end of period		250,428					250,428					243,428

The following table summarizes information about options to purchase Shares already held by the Company as treasury Shares, or to subscribe to new Shares, at

June 30, 2018:

	Outstanding options								Fully vested options (1)
Exercise price (€)	Options		Weighted average remaining contractual life		Weighted average exercise price (€)		Aggregate Intrinsic Value (2)		Options		Weighted average exercise price (€)		Aggregate Intrinsic Value (2)
3.22		505,000		7.8		3.22		-		252,500		3.22		-
2.39		215,000		8.8		2.39		44,964		53,750		2.39		13,104
2.38		120,100		2.0		2.38		26,318		120,100		2.38		26,318
1.91		297,500		4.5		1.91		205,017		297,500		1.91		205,017
1.88		50,000		2.0		1.88		35,957		50,000		1.88		35,957
1.88 to 3.22		1,187,600		5.0		2.96		312,256		773,850		2.44		280,396

(

)

Fully vested options are all exercisable options

(

)

The aggregate intrinsic value represents the total pre-tax intrinsic value, based on the Company’s closing stock price of

$3.03

June 30, 2018,

which would have been received by the option holders had all in-the-money option holders exercised their options as of that date.

Note 8 - Financial Income, Net

6 Months Ended

Jun. 30, 2018

Interest Income and Interest Expense Disclosure [Text Block]

8—FINANCIAL

INCOME, NET

Interest (expense) income, net consists of the following:

	6 months 2018			6 months 2017
Interest income		8			6
Interest expense		(26	)		(18	)
Warrants exercised or forfeited		-			625
Changes in fair value of the warrants (1)		545			795
Total		528			1,408

(

)

For more details on the fair value of Financial Instruments, please refer to Notes

Note 9 - Segment Information

6 Months Ended

Jun. 30, 2018

Segment Reporting Disclosure [Text Block]

9—SEGMENT

INFORMATION

The Company currently has

four

reporting segments: the corporate activities of the holding Company, EDAP TMS S.A., the High Intensity Focused Ultrasound division, the Urological Devices and Services division and a reporting segment dedicated to the FDA approval for Ablatherm-HIFU activity. Following the Ablatherm FDA clearance received on

November 9, 2015,

there is

more cost recorded on the FDA segment in

2016

and

2017.

The following tables set forth the key income statement figures, by segment for the

first

six

months of

2018

and

2017

and the key balance sheet figures, by segment, for the

first

six

months of

2018

and

2017.

The business in which the Company operates is the development and production of minimally invasive medical devices, primarily for the treatment of urological diseases. Substantially all revenues result from the sale of medical devices and their related license and royalty payments from

third

parties. The segments derive their revenues from this activity.

Segment operating profit or loss and segment assets are determined in accordance with the same policies as those described in the summary of significant accounting policies. Interest income and expense, current and deferred income taxes are

not

allocated to individual segments. A reconciliation of segment operating profit or loss to consolidated net loss is as follows:

	6 months 2018			6 months 2017
Segment operating income (loss)		(1,482	)		(848	)
Financial income (expense), net		528			1,408
Foreign Currency exchange (losses) gains, net		456			(450	)
Other income (expense), net		-			-
Income tax (expense) credit		(180	)		(175	)
Consolidated net profit (loss)		(679	)		(65	)

A summary of the Company’s operations by business unit is presented below for periods ending

June 30, 2018

and

2017:

	HIFU Division			UDS Division			EDAP TMS Corporate			Total consolidated
6 months 2018
Sales of Goods (incl. consumables)		2,082			8,848			-			10,929
Sales of RPPs & Leases,		1,791			689			-			2,480
Sales of Spare Parts & Services		870			3,469			-			4,338
Total Net Sales		4,742			13,006			-			17,748
Other Revenues		14			-			-			14
Total Revenues		4,756			13,006			-			17,762
Gross Profit		2,326			5,236			-			7,561
Research & Development		(1,437	)		(763	)		-			(2,200	)
SG&A + Depreciation		(2,798	)		(3,405	)		(640	)		(6,843	)
Operating income (loss)		(1,909	)		1,068			(640	)		(1,482	)

	HIFU Division			UDS Division			EDAP TMS Corporate			Total consolidated
6 months 2017
Sales of Goods (incl. consumables)		2,626			8,852			-			11,478
Sales of RPPs & Leases,		1,899			700			-			2,599
Sales of Spare Parts & Services		696			3,183			-			3,879
Total Net Sales		5,221			12,735			-			17,956
Other Revenues		8			32			-			40
Total Revenues		5,228			12,767			-			17,995
Gross Profit		2,794			4,774			-			7,568
Research & Development		(1,211	)		(654	)		-			(1,865	)
SG&A + Depreciation		(2,468	)		(3,316	)		(768	)		(6,551	)
Operating income (loss)		(885	)		804			(768	)		(848	)

Note 10 - Subsequent Significant Events	6 Months Ended
Note 10 - Subsequent Significant Events	Jun. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	10—SUBSEQUENT SIGNIFICANT EVENTS There is no subsequent significant event to report after June 30, 2018.

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Nature of Operations [Policy Text Block]

Nature of operations

third

-party distributors and agents, and export sales through subsidiaries based in Germany, Italy, the United States and Asia.

Moreover, the Company develops a novel HIFU treatment for liver cancer in cooperation with its long-term academic partner INSERM and leading cancer centers (the “HECAM” project).

may

Basis of Accounting, Policy [Policy Text Block]

Basis of preparation

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP).

Use of Estimates, Policy [Policy Text Block]

Management estimates

Consolidation, Policy [Policy Text Block]

Consolidation

1997.

Edap Technomed Co. Ltd. was created in late

1996.

EDAP TMS Gmbh was created in

July 2006.

EDAP SA, a subsidiary incorporating HIFU activities merged all of its activity into EDAP TMS France SAS in

2008.

All intercompany transactions and balances are eliminated in consolidation.

Revenue Recognition, Policy [Policy Text Block]

Revenue recognition

Sales of goods:

For medical device sales with

one

-year warranty upon installation. The Company accrues for the warranty costs at the time of sale. Revenues related to disposables are recognized when goods are delivered.

Our device sale arrangements

may

For multiple-element arrangements, revenue is allocated to each unit of accounting based on their relative selling prices. Relative selling prices are based

first

on vendor specific objective evidence of fair value (“VSOE”), then on

third

-party evidence of selling price (“TPE”) when VSOE does

not

exist, and then on management's best estimate of the selling price (“ESP”) when VSOE and TPE do

not

exist.

Consumables revenues are deferred until delivery and services revenues are deferred until execution.

Sales of RPPs and leases:

Sales of spare parts and services:

Revenues related to spare parts are recognized when goods are delivered. Maintenance contracts rarely exceed

one

year and are recognized on a straight line basis. Billings or cash receipts in advance of services due under maintenance contracts are recorded as deferred revenue.

Cost of Sales, Policy [Policy Text Block]

Costs of sales

Shipping and Handling Cost, Policy [Policy Text Block]

Shipping and handling costs

The Company recognizes revenue from the shipping and handling of its products as a component of revenue. Shipping and handling costs are recorded as a component of cost of sales.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash equivalents and short term investments

Cash equivalents are cash investments which are highly liquid and have initial maturities of

days or less.

Cash investments with a maturity higher than

days are considered as short-term investments.

Receivables, Policy [Policy Text Block]

Accounts Receivables

Inventory, Policy [Policy Text Block]

Inventories

first

-in,

first

Property, Plant and Equipment, Policy [Policy Text Block]

Property and equipment

Leasehold improvements.........................................	10 years or lease term if shorter
Equipment..............................................................	3-10 years
Furniture, fixtures, fittings and other .....................	2-10 years

seven

years.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Long-lived assets

may

not

available for the long-lived assets. Estimated future cash flows are based on assumptions and are subject to risk and uncertainty.

Goodwill and Intangible Assets, Policy [Policy Text Block]

Goodwill and intangible assets

Goodwill represents the excess of purchase price over the fair value of identifiable net assets of businesses acquired. Goodwill is

not

350,

“Goodwill and other intangible assets”, the impairment test is performed in

two

steps. The

first

step compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit is less than its carrying amount, a

second

step is performed to measure the amount of impairment loss. The

second

Changes in market conditions could have a major impact on the valuation of these assets and could result in additional impairment losses.

Patents....................................................................	5 years
SAP Licenses........................................................	10 years
Other Licenses......................................................	5 years
Trade name and trademark .....................................	7 years

Stockholders' Equity, Policy [Policy Text Block]

Treasury Stocks

Treasury stock purchases are accounted for at cost. The sale of treasury stocks is accounted for using the

first

not

affect reported results of operations. Treasury stocks held by a Company cannot exceed

10%

of the total number of shares issued.

Standard Product Warranty, Policy [Policy Text Block]

Warranty expenses

The Company provides customers with a warranty for each product sold and accrues warranty expense at time of sale based upon historical claims experience. Standard warranty period

may

vary from

year to

years depending on the market. Actual warranty costs incurred are charged against the accrual when paid and are classified in cost of sales in the statement of income.

Income Tax, Policy [Policy Text Block]

Income taxes

The Company accounts for income taxes in accordance with ASC

740,

‘‘Accounting for Income Taxes’’ Under ASC

740,

not

that some portion, or all of the deferred tax assets, will

not

be realized. In accordance with

ASC740,

provision has been made for income or withholding taxes on undistributed earnings of foreign subsidiaries, such undistributed earnings being permanently reinvested.

As of

January 1, 2007,

the Company adopted

FIN48

(now ASC

740

) "Accounting for uncertainty in income tax". Under

ASC740,

the measurement of a tax position that meets the more-likely-that-

not

Research, Development, and Computer Software, Policy [Policy Text Block]

Research and development costs

Research and development costs are recorded as an expense in the period in which they are incurred. The French government provides tax credits to companies for innovative research and development.

This tax credit is calculated based on a percentage of eligible research and development costs and it can be refundable in cash and is

not

contingent on future taxable income. As such, the Company considers the research tax credits as a grant, offsetting operating expenses

Advertising Costs, Policy [Policy Text Block]

Advertising costs

Advertising costs are recorded as an expense in the period in which they are incurred.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign currency translation and transactions

Translation of the financial statements of consolidated companies

The reporting currency of EDAP TMS S.A. for all years presented is the euro (€). The functional currency of each subsidiary is its local currency. In accordance with ASC

830,

all accounts in the financial statements are translated into euro from the functional currency at exchange rate as follows:

	•	assets and liabilities are translated at year-end exchange rates;
	•	shareholders’ equity is translated at historical exchange rates (as of the date of contribution);
	•	statement of income items are translated at average exchange rates for the year; and
	•	translation gains and losses are recorded in a separate component of shareholders’ equity.

Foreign currencies transactions

Presentation in the Income Statement

Aggregate foreign currency transactions gains and losses are disclosed in a single caption in the income statement under section “Foreign currency exchange gain (loss), net”.

Earnings Per Share, Policy [Policy Text Block]

Earnings per share

Derivatives, Policy [Policy Text Block]

Derivative instruments

ASC

815

Gains and losses from derivative instruments are recorded in the income statement.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Employee stock option plans

June 30, 2018,

the Company had

four

stock-based employee compensation plans. The Company adopted ASC

718,

“Share-Based Payment”, effective

January 1, 2006.

ASC

718

requires the recognition of fair value of stock compensation as an expense in the calculation of net income (loss).

The Company granted

260,000

stock options to subscribe to new shares to certain employees of the Company in

April 2017.

The fair value of each stock option granted during the year is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

	06-30-2018 (1)		12-31-2017
Weighted-average expected life (years)		-		6.25
Expected volatility rates		-		57.4	%
Expected dividend yield		-		—
Risk-free interest rate		-		0.02	%
Weighted-average exercise price (€)		-		2.39
Weighted-average fair value of options granted during the year (€)		-		1.29

(

)

The company did

not

make any grants during the period ended

June 30, 2018.

Debt, Policy [Policy Text Block]

Warrants

May 28, 2013,

pursuant to a securities purchase agreement dated

May 20, 2013,

as amended, the Company issued new ordinary shares in the form of ADSs to selected institutional investors in a registered direct placement (the

“May 2013

Placement”) with warrants attached (the

“May 2013

Investor Warrants”). The Company also issued warrants to the placement agent, H.C. Wainwright & Co., LLC (the

“May 2013

Placement Agent Warrants” and together with the

May 2013

Investor Warrants, the

“May 2013

Warrants”). As the

May 2013

Warrants comprised the same structure and provisions than the

March 2012

Warrants, including an exercise price determined in U.S. dollars while the functional currency of the Company is the Euro, the Company determined that the

May 2013

Warrants should be accounted for as a liability.

The Company used the Black-Scholes pricing model to value the

May 2013

Warrants at inception, with changes in fair value recorded as a financial expense or income.

April 14, 2016,

pursuant to a securities purchase agreement dated

April 7, 2016,

as amended, the Company issued new ordinary shares in the form of ADSs to selected institutional investors in a registered direct placement (the

“April 2016

Placement”) with warrants attached (the

“April 2016

Investor Warrants”). As the

April 2016

Warrants comprised the same structure and provisions than the

March 2012

and

May 2013

Warrants, including an exercise price determined in U.S. dollars while the functional currency of the Company is the Euro, the Company determined that the

April 2016

Warrants should be accounted for as a liability.

The Company used the Black-Scholes pricing model to value the

April 2016

Warrants at inception, with changes in fair value recorded as a financial expense or income.

Lessee, Leases [Policy Text Block]

Leases and Sales and leaseback transactions

In accordance with ASC

840,

Accounting for Leases, the Company classifies all leases at the inception date as either a capital lease or an operating lease. A lease is a capital lease if it meets any

one

of the following criteria; otherwise, it is an operating lease:

Ownership is transferred to the lessee by the end of the lease term;

The lease contains a bargain purchase option;

The lease term is at least

75%

of the property's estimated remaining economic life;

The present value of the minimum lease payments at the beginning of the lease term is

90%

or more of the fair value of the leased property to the lessor at the inception date.

For sales type leases, the following

two

additional criteria are applied:

Collectability of the minimum lease payment is reasonably predictable;

important uncertainties surround the amount of un-reimbursable costs yet to be incurred by the lessor under the lease.

The Company enters into sale and leaseback transactions from time to time. In accordance with ASC

840,

Note 1 - Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Property, Plant, and Equipment, Estimated Useful Life [Table Text Block]

Leasehold improvements.........................................	10 years or lease term if shorter
Equipment..............................................................	3-10 years
Furniture, fixtures, fittings and other .....................	2-10 years

Amortizable Intangible Assets, Useful Life [Table Text Block]

Patents....................................................................	5 years
SAP Licenses........................................................	10 years
Other Licenses......................................................	5 years
Trade name and trademark .....................................	7 years

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	06-30-2018 (1)		12-31-2017
Weighted-average expected life (years)		-		6.25
Expected volatility rates		-		57.4	%
Expected dividend yield		-		—
Risk-free interest rate		-		0.02	%
Weighted-average exercise price (€)		-		2.39
Weighted-average fair value of options granted during the year (€)		-		1.29

Note 2 - Cash, Cash Equivalents and Short Term Investments (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Cash and Cash Equivalents [Table Text Block]

	06-30-2018	12-31-2017
Total cash and cash equivalents	17,203	20,004
Short term investments	-	-
Total cash and cash equivalent and short term investments	17,203	20,004

Note 3 - Inventories (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Inventory, Current [Table Text Block]

	06-30-2018		12-31-2017
Components, spare parts	4,824		3,909
Work-in-progress	-		729
Finished goods – own manufactured products	1,629		1,167
Finished goods – distribution products	1,477		1,656
Total gross inventories	7,930		7,461
Less: allowance for slow-moving inventory and net realizable value	(856	)	(722	)
Total	7,074		6,739

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Debt [Table Text Block]

	06-30-2018			12-31-2017
France term loan		613			700
Japanese term loan (YEN)		-			40
Germany term loan		728			399
Italy term loan		53			78
Total long term debt		1,394			1,217
Less current portion		(375	)		(383	)
Total long-term portion		1,019			834

Schedule of Long-term Debt Instruments [Table Text Block]

	Initial Amount		Maturation	Fixed Interest rate			Frequency of principal payments
EDAP Technomed Co. Ltd		55,000,000	June 30, 2018		1.80	%	Monthly instalment
		10,000,000	June 30, 2018		2.10	%	Monthly instalment

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

450,000

November 30, 2020

2.49

Monthly instalment

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

136,500

December 31, 2022

2.25

Monthly instalment

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

400,000

March 31, 2023

2.40

Monthly instalment

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

450,000

November 30, 2020

2.49

Monthly instalment

Initial Amount

Maturation

Fixed Interest rate

Frequency of principal payments

EDAP TMS GMBH

136,500

December 31, 2022

2.25

Monthly instalment

Initial Amount

Maturation

Fixed Interest rate

Reimbursement Periodicity

EDAP TMS FRANCE

700,000

October 16, 2021

0.40

Quarterly instalment

Schedule of Derivative Instruments [Table Text Block]

	06-30-2018			12112-31-2017
Investor Warrants		319			840
Total		319			840
Less current portion		(319	)		(840	)
Total long-term portion		-			-

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	At inception date			June 30, 2018			December 31, 2017
Share price at closing date	$	3.96		$	3.03		$	2.87
Strike price of warrants	$	4.25		$	4.25		$	4.25
Risk free interest rate at 5.5 years		1.07	%		0	%		0	%
Share price volatility		71	%		57.40	%		57.40	%
Dividend rates		0	%		0	%		0	%
Unit fair value	$	2.35		$	0.13		$	0.26
Total fair value (in thousand)	$	3.525		$	193		$	392
Total equivalent amount (in thousand €)	€	2,725		€	166		€	328

	At inception date			June 30, 2018			December 31, 2017
Share price at closing date		3.64			3.03			2.87
Strike price of warrants	$	4.50		$	4.50		$	4.50
Risk free interest rate at 2.5 years		0	%		0	%		0	%
Share price volatility		60.20	%		57.40	%		57.40	%
Dividend rates		0	%		0	%		0	%
Unit fair value	$	1.09		$	0.05		$	0.19
Total fair value (in thousand)	$	3.579		$	179		$	614
Total equivalent amount (in thousand €)	€	3,168		€	153		€	513

Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]

2018	529
2019	395
2020	364
2021	284
2022	112
2023	28
Total	1,713

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Note 7 - Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

	June 30, 2018					December 31, 2017					December 31, 2016
	Options			Weighted average exercise price (€)		Options			Weighted average exercise price (€)		Options			Weighted average exercise price (€)
Outstanding on January 1,		1,207,600			2.61		1,427,438			2.94		917,188			2.79
Granted		-			-		260,000			2.39		575,000			3.22
Exercised		-			-		(60,000	)		1.91		-			-
Forfeited		(20,000	)		3.22		(134,750	)		3.11		(64,750	)		3.30
Expired		-			-		(285,088	)		3.99		-			-
Outstanding at the end of the period		1,187,600			2.60		1,207,600			2.61		1,427,438			2.94
Exercisable at the end of the period		773,850			2.44		598,850			2.29		774,938			2.87
Shares purchase options available for grant on at end of period		250,428					250,428					243,428

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

	Outstanding options								Fully vested options (1)
Exercise price (€)	Options		Weighted average remaining contractual life		Weighted average exercise price (€)		Aggregate Intrinsic Value (2)		Options		Weighted average exercise price (€)		Aggregate Intrinsic Value (2)
3.22		505,000		7.8		3.22		-		252,500		3.22		-
2.39		215,000		8.8		2.39		44,964		53,750		2.39		13,104
2.38		120,100		2.0		2.38		26,318		120,100		2.38		26,318
1.91		297,500		4.5		1.91		205,017		297,500		1.91		205,017
1.88		50,000		2.0		1.88		35,957		50,000		1.88		35,957
1.88 to 3.22		1,187,600		5.0		2.96		312,256		773,850		2.44		280,396

Note 8 - Financial Income, Net (Tables)

6 Months Ended

Jun. 30, 2018

Interest Income and Interest Expense Disclosure [Table Text Block]

	6 months 2018			6 months 2017
Interest income		8			6
Interest expense		(26	)		(18	)
Warrants exercised or forfeited		-			625
Changes in fair value of the warrants (1)		545			795
Total		528			1,408

Note 9 - Segment Information (Tables)

6 Months Ended

Jun. 30, 2018

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

	6 months 2018			6 months 2017
Segment operating income (loss)		(1,482	)		(848	)
Financial income (expense), net		528			1,408
Foreign Currency exchange (losses) gains, net		456			(450	)
Other income (expense), net		-			-
Income tax (expense) credit		(180	)		(175	)
Consolidated net profit (loss)		(679	)		(65	)

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	HIFU Division			UDS Division			EDAP TMS Corporate			Total consolidated
6 months 2018
Sales of Goods (incl. consumables)		2,082			8,848			-			10,929
Sales of RPPs & Leases,		1,791			689			-			2,480
Sales of Spare Parts & Services		870			3,469			-			4,338
Total Net Sales		4,742			13,006			-			17,748
Other Revenues		14			-			-			14
Total Revenues		4,756			13,006			-			17,762
Gross Profit		2,326			5,236			-			7,561
Research & Development		(1,437	)		(763	)		-			(2,200	)
SG&A + Depreciation		(2,798	)		(3,405	)		(640	)		(6,843	)
Operating income (loss)		(1,909	)		1,068			(640	)		(1,482	)

	HIFU Division			UDS Division			EDAP TMS Corporate			Total consolidated
6 months 2017
Sales of Goods (incl. consumables)		2,626			8,852			-			11,478
Sales of RPPs & Leases,		1,899			700			-			2,599
Sales of Spare Parts & Services		696			3,183			-			3,879
Total Net Sales		5,221			12,735			-			17,956
Other Revenues		8			32			-			40
Total Revenues		5,228			12,767			-			17,995
Gross Profit		2,794			4,774			-			7,568
Research & Development		(1,211	)		(654	)		-			(1,865	)
SG&A + Depreciation		(2,468	)		(3,316	)		(768	)		(6,551	)
Operating income (loss)		(885	)		804			(768	)		(848	)

Note 1 - Summary of Significant Accounting Policies (Details Textual) - shares			6 Months Ended	12 Months Ended
	Apr. 25, 2017	Apr. 26, 2016	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				260,000	575,000
Employee Stock Option [Member] \| The 2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	260,000	575,000
Maximum [Member]
Standard Product Warranty Period				2 years
Minimum [Member]
Standard Product Warranty Period				1 year
Devices Leased Under RPPs and Devices Subject to Sale and Leaseback Transactions [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life			7 years

Note 1 - Summary of Significant Accounting Policies - Estimated Useful Life of Property and Equipment (Details)	6 Months Ended
	Jun. 30, 2018
Maximum [Member] \| Leasehold Improvements [Member]
Estimated useful life (Year)	10 years
Maximum [Member] \| Equipment [Member]
Estimated useful life (Year)	10 years
Maximum [Member] \| Furniture, Fixtures, Fittings, and Other [Member]
Estimated useful life (Year)	10 years
Minimum [Member] \| Equipment [Member]
Estimated useful life (Year)	3 years
Minimum [Member] \| Furniture, Fixtures, Fittings, and Other [Member]
Estimated useful life (Year)	2 years

Note 1 - Summary of Significant Accounting Policies - Estimated Useful Life of Intangible Assets (Details)	6 Months Ended
	Jun. 30, 2018
Patents [Member]
Finite intangible assets, useful life (Year)	5 years
SAP Licenses [Member]
Finite intangible assets, useful life (Year)	10 years
Other Licenses [Member]
Finite intangible assets, useful life (Year)	5 years
Trademarks and Trade Names [Member]
Finite intangible assets, useful life (Year)	7 years

Note 1 - Summary of Significant Accounting Policies - Fair Value Assumptions (Details) - € / shares

6 Months Ended

12 Months Ended

Jun. 30, 2018

^[1]

Dec. 31, 2017

Weighted-average expected life (Year)

6 years 91 days

Expected volatility rates

57.40%

Expected dividend yield

Risk-free interest rate

0.02%

Weighted-average exercise price (in EUR per share)

€ 2.39

Weighted-average fair value of options granted during the year (in EUR per share)

€ 1.29

[1]	The company did not make any grants during the period ended June 30, 2018.

Note 2 - Cash, Cash Equivalents and Short Term Investments - Schedule of Cash Equivalents and Short Term Investments (Details) - EUR (€) € in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Total cash and cash equivalents	€ 17,203	€ 20,004	€ 18,554	€ 21,989
Short term investments
Total cash and cash equivalent and short term investments	€ 17,203	€ 20,004

Note 3 - Inventories - Schedule of Inventories (Details) - EUR (€) € in Thousands	Jun. 30, 2018	Dec. 31, 2017
Components, spare parts	€ 4,824	€ 3,909
Work-in-progress		729
Finished goods – own manufactured products	1,629	1,167
Finished goods – distribution products	1,477	1,656
Total gross inventories	7,930	7,461
Less: allowance for slow-moving inventory and net realizable value	(856)	(722)
Total	€ 7,074	€ 6,739

Note 4 - Short-term Borrowings (Details Textual) - EUR (€) € in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Short-term Debt, Total	€ 2,112	€ 2,718
Factored Accounts Receivables [Member]
Short-term Debt, Total	€ 2,112		€ 1,253

Note 5 - Capital Lease Obligations (Details Textual) € in Thousands	Jun. 30, 2018 EUR (€)
Medical Devices [Member]
Capital Lease Obligations, Total	€ 173
Vehicles and Other IT Equipment [Member]
Capital Lease Obligations, Total	€ 746

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value (Details Textual) $ / shares in Units, € in Thousands, $ in Thousands					6 Months Ended	12 Months Ended
	Apr. 14, 2016 USD ($) $ / shares shares	Apr. 14, 2016 EUR (€) shares	May 28, 2013 USD ($) $ / shares shares	May 28, 2013 EUR (€) shares	Jun. 30, 2018 EUR (€)	Dec. 31, 2017 EUR (€)
American Depository Shares (ADS) [Member] \| Private Placement [Member]
Stock Issued During Period, Shares, New Issues \| shares	3,283,284	3,283,284	3,000,000	3,000,000
Shares Issued, Price Per Share \| $ / shares	$ 3.50		$ 4
Proceeds from Issuance of Private Placement	$ 11,500	€ 10,200	$ 12,000	€ 9,270
American Depository Shares (ADS) [Member] \| Private Placement [Member] \| Additional Paid-in Capital [Member]
Proceeds from Issuance of Private Placement	7,913	7,006	8,183	6,320
American Depository Shares (ADS) [Member] \| Private Placement [Member] \| Investor and Placement Agent Warrants Payable [Member]
Proceeds from Issuance of Private Placement	$ 3,578	€ 3,168	$ 3,817	€ 2,950
American Depository Shares (ADS) [Member] \| Private Placement [Member] \| May 2013 Investor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights \| shares			1,500,000
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares			$ 4.25
American Depository Shares (ADS) [Member] \| Private Placement [Member] \| May 2013 Placement Agent Warrants [Member] \| H.C. Wainwright & Co., LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights \| shares			180,000
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares			$ 5
American Depository Shares (ADS) [Member] \| Private Placement [Member] \| April 2016 Investor Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 4.50
American Depository Shares (ADS) [Member] \| Private Placement [Member] \| April 2016 Investor Warrants [Member] \| Maximum [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights \| shares	3,283,284
Loans Payable [Member] \| GERMANY \| High Intensity Focused Ultrasound (HIFU) Equipment 1 [Member]
Debt Instrument, Collateral Amount \| €					€ 450	€ 450
Loans Payable [Member] \| GERMANY \| Urology Devices and Services (UDS) Equipment [Member]
Debt Instrument, Collateral Amount \| €					136	136
Loans Payable [Member] \| GERMANY \| High Intensity Focused Ultrasound (HIFU) Equipment 2 [Member]
Debt Instrument, Collateral Amount \| €					400
Loans Payable [Member] \| ITALY
Debt Instrument, Face Amount \| €					€ 242	€ 242
Loans Payable [Member] \| ITALY \| Euribor 1 Month [Member]
Debt Instrument, Basis Spread on Variable Rate					4.50%	4.50%

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value - Schedule of Long Term Debt (Details) - EUR (€) € in Thousands	Jun. 30, 2018	Dec. 31, 2017
Long term debt	€ 1,394	€ 1,217
Less current portion	(375)	(383)
Total long-term portion	1,019	834
FRANCE
Long term debt	613	700
JAPAN
Long term debt		40
GERMANY
Long term debt	728	399
ITALY
Long term debt	€ 53	€ 78

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value - Long-term Debt (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2018 EUR (€)	Dec. 31, 2017 EUR (€)	Dec. 31, 2017 JPY (¥)
JAPAN \| EDAP Technomed Co Ltd. [Member] \| Loan One [Member]
Debt Instrument, Face Amount \| ¥			¥ 55,000,000
Maturation		Jun. 30, 2018
Interest rate		1.80%	1.80%
Frequency of principal payments		Monthly instalment
JAPAN \| EDAP Technomed Co Ltd. [Member] \| Loan Two [Member]
Debt Instrument, Face Amount \| ¥			¥ 10,000,000
Maturation		Jun. 30, 2018
Interest rate		2.10%	2.10%
Frequency of principal payments		Monthly instalment
GERMANY \| EDAP TMS GMBH [Member] \| High Intensity Focused Ultrasound (HIFU) Equipment 1 [Member]
Debt Instrument, Face Amount	€ 450,000	€ 450,000
Maturation	Nov. 30, 2020	Nov. 30, 2020
Interest rate	2.49%	2.49%	2.49%
Frequency of principal payments	Monthly instalment	Monthly instalment
GERMANY \| EDAP TMS GMBH [Member] \| Urology Devices and Services (UDS) Equipment [Member]
Debt Instrument, Face Amount	€ 136,500	€ 136,500
Maturation	Dec. 31, 2022	Dec. 31, 2022
Interest rate	2.25%	2.25%	2.25%
Frequency of principal payments	Monthly instalment	Monthly instalment
GERMANY \| EDAP TMS GMBH [Member] \| High Intensity Focused Ultrasound (HIFU) Equipment 2 [Member]
Debt Instrument, Face Amount	€ 400,000
Maturation	Mar. 31, 2023
Interest rate	2.40%
Frequency of principal payments	Monthly instalment
FRANCE \| EDAP TMS France [Member] \| Loan One [Member]
Debt Instrument, Face Amount	€ 700,000
Maturation	Oct. 16, 2021
Interest rate	0.40%
Frequency of principal payments	Quarterly instalment

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value - Schedule of Financial Instruments Carried at Fair Value (Details) - EUR (€) € in Thousands	Jun. 30, 2018	Dec. 31, 2017
Less current portion	€ (319)	€ (840)
Total long-term portion
Investor Warrants [Member]
Warrants	319	840
Warrant [Member]
Warrants	319	840
Less current portion	(319)	(840)
Total long-term portion

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value - Valuation Model of Warrants (Details) $ / shares in Units, € in Thousands	Jun. 30, 2018 USD ($) $ / shares	Jun. 30, 2018 EUR (€)	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2017 EUR (€)	Apr. 14, 2016 USD ($) $ / shares	Apr. 14, 2016 EUR (€)	Mar. 28, 2012 USD ($) $ / shares	Mar. 28, 2012 EUR (€)
May 2013 Investor Warrants [Member]
Unit fair value (in dollars per share)	$ 0.13		$ 0.26				$ 2.35
Total fair value	$ 193,000	€ 166	$ 392,000	€ 328			$ 3,525	€ 2,725
April 2016 Investor Warrants [Member]
Unit fair value (in dollars per share)	$ 0.05		$ 0.19		$ 1.09
Total fair value	$ 179,000	€ 153	$ 614,000	€ 513	$ 3,579	€ 3,168
Measurement Input, Share Price [Member] \| May 2013 Investor Warrants [Member]
Warrants, measurement input	3.03	3.03	2.87	2.87			3.96	3.96
Measurement Input, Share Price [Member] \| April 2016 Investor Warrants [Member]
Warrants, measurement input	3.03	3.03	2.87	2.87	3.64	3.64
Measurement Input, Exercise Price [Member] \| May 2013 Investor Warrants [Member]
Warrants, measurement input	4.25	4.25	4.25	4.25			4.25	4.25
Measurement Input, Exercise Price [Member] \| April 2016 Investor Warrants [Member]
Warrants, measurement input	4.5	4.5	4.5	4.5	4.5	4.5
Measurement Input, Risk Free Interest Rate [Member] \| May 2013 Investor Warrants [Member]
Interest rate	0.00%	0.00%	0.00%	0.00%			1.07%	1.07%
Measurement Input, Risk Free Interest Rate [Member] \| April 2016 Investor Warrants [Member]
Warrants, measurement input	0	0	0	0	0	0
Measurement Input, Price Volatility [Member] \| May 2013 Investor Warrants [Member]
Interest rate	57.40%	57.40%	57.40%	57.40%			71.00%	71.00%
Measurement Input, Price Volatility [Member] \| April 2016 Investor Warrants [Member]
Warrants, measurement input	0.574	0.574	0.574	0.574	0.602	0.602
Measurement Input, Expected Dividend Rate [Member] \| May 2013 Investor Warrants [Member]
Interest rate	0.00%	0.00%	0.00%	0.00%			0.00%	0.00%
Measurement Input, Expected Dividend Rate [Member] \| April 2016 Investor Warrants [Member]
Warrants, measurement input	0	0	0	0	0	0

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value - Valuation Model of Warrants (Details) (Parentheticals)			6 Months Ended	12 Months Ended
	Apr. 14, 2016	Mar. 28, 2012	Jun. 30, 2018	Dec. 31, 2017
May 2013 Investor Warrants [Member]
Risk free interest rate, period (Year)		5 years	5 years	5 years
April 2016 Investor Warrants [Member]
Risk free interest rate, period (Year)	2 years 182 days		2 years 182 days	2 years 182 days

Note 6 - Long Term Debt, and Financial Instruments Carried at Fair Value - Schedule Of Long-term Debt and Financial Instruments Maturities (Details) € in Thousands	Jun. 30, 2018 EUR (€)
2018	€ 529
2019	395
2020	364
2021	284
2022	112
2023	28
Total	€ 1,713

Note 7 - Shareholders' Equity (Details Textual) € / shares in Units, € in Thousands						2 Months Ended	5 Months Ended	6 Months Ended	12 Months Ended
	Apr. 25, 2017 shares	Apr. 26, 2016 shares	Jan. 18, 2013 shares	Jun. 25, 2010 shares	Oct. 29, 2007 shares	Jul. 31, 2001 EUR (€) shares	Dec. 31, 1998 EUR (€) shares	Jun. 30, 2018 $ / shares shares	Dec. 31, 2017 € / shares shares	Dec. 31, 2016 shares	Jun. 30, 2018 € / shares shares	Feb. 18, 2016 shares	Dec. 31, 2015 shares	Dec. 19, 2012 shares	Jun. 24, 2010 shares	May 22, 2007 shares
Common Stock, Shares, Issued, Total								29,368,394	29,368,394		29,368,394
Common Stock, Par or Stated Value Per Share \| € / shares									€ 0.13		€ 0.13
Common Stock, Shares, Outstanding, Ending Balance								28,997,866	28,997,866		28,997,866
Treasury Stock, Shares, Ending Balance								370,528	370,528		370,528
Treasury Stock, Shares, Acquired						180,290	190,238
Treasury Stock, Value, Acquired, Par Value Method \| €						€ 493	€ 649
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross								0
The 2010 Plan [Member]
Common Stock, Shares Subscribed but Unissued															229,100
The 2012 Plan [Member]
Common Stock, Shares Subscribed but Unissued														500,000
The 2016 Plan [Member]
Common Stock, Shares Subscribed but Unissued												1,000,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross									260,000	575,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance								1,187,600	1,207,600	1,427,438	1,187,600		917,188
Employee Stock Option [Member] \| The 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized																600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				95,912	504,088
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance								50,000			50,000
Employee Stock Option [Member] \| The 2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized															229,100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				229,100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance								120,100			120,100
Employee Stock Option [Member] \| The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized														500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance								297,500			297,500
Employee Stock Option [Member] \| The 2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized												1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	260,000	575,000
Employee Stock Option [Member] \| The 2016 Plan [Member] \| April 26, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance								505,000			505,000
Employee Stock Option [Member] \| The 2016 Plan [Member] \| April 25, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance								215,000			215,000
The 2007 Plan [Member]
Common Stock, Shares Subscribed but Unissued																600,000
Options to Purchase Treasury Shares or To Subscribe New Shares [Member]
Shares Issued, Price Per Share \| $ / shares								$ 3.03
Treasury Stock, Held for Purchase for Option Holder Exercises [Member]
Treasury Stock, Shares, Ending Balance								127,100			127,100
Treasury Stock, Reissuance Price Per Share \| € / shares											€ 2.38

Note 7 - Shareholders' Equity - Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) - € / shares

6 Months Ended

12 Months Ended

Jun. 30, 2018

Dec. 31, 2017

Dec. 31, 2016

Granted - number (in shares)

Granted - Weighted average exercise price (in EUR per share)

^[1]

€ 2.39

Employee Stock Option [Member]

Outstanding - number (in shares)

1,207,600

1,427,438

917,188

Outstanding - Weighted average exercise price (in EUR per share)

€ 2.61

€ 2.94

€ 2.79

Granted - number (in shares)

260,000

575,000

Granted - Weighted average exercise price (in EUR per share)

€ 2.39

€ 3.22

Exercised - number (in shares)

(60,000)

Exercised - Weighted average exercise price (in EUR per share)

€ 1.91

Forfeited - number (in shares)

(20,000)

(134,750)

(64,750)

Forfeited - Weighted average exercise price (in EUR per share)

€ 3.22

€ 3.11

€ 3.30

Expired - number (in shares)

(285,088)

Expired - Weighted average exercise price (in EUR per share)

€ 3.99

Outstanding - number (in shares)

1,187,600

1,207,600

1,427,438

Outstanding - Weighted average exercise price (in EUR per share)

€ 2.60

€ 2.61

€ 2.94

Exercisable at the end of the period - number (in shares)

773,850

598,850

774,938

Exercisable at the end of the period - Weighted average exercise price (in EUR per share)

€ 2.44

€ 2.29

€ 2.87

Shares purchase options available for grant on at end of period - number (in shares)

250,428

243,428

[1]	The company did not make any grants during the period ended June 30, 2018.

Note 7 - Shareholders' Equity - Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range (Details)

6 Months Ended

Jun. 30, 2018

EUR (€)

€ / shares

Outstanding options - weighted average remaining contractual life (Year)

1,187,600

5 years

Outstanding options, weighted average exercise price (in EUR per share)

€ 2.96

€ 312,256

^[1]

Exercisable options - weighted average exercise price (in EUR per share)

773,850

^[2]

€ 2.44

^[2]

Exercisable options - aggregate intrinsic value | €

€ 280,396

^[1],[2]

Exercise price, lower range (in EUR per share)

€ 1.88

Exercise price, upper range (in EUR per share)

€ 3.22

Range 1 [Member]

Outstanding options - weighted average remaining contractual life (Year)

505,000

7 years 292 days

Outstanding options, weighted average exercise price (in EUR per share)

€ 3.22

^[1]

Exercisable options - weighted average exercise price (in EUR per share)

252,500

^[2]

€ 3.22

^[2]

Exercisable options - aggregate intrinsic value | €

^[1],[2]

Range 2 [Member]

Outstanding options - weighted average remaining contractual life (Year)

215,000

8 years 292 days

Outstanding options, weighted average exercise price (in EUR per share)

€ 2.39

€ 44,964

^[1]

Exercisable options - weighted average exercise price (in EUR per share)

53,750

^[2]

€ 2.39

^[2]

Exercisable options - aggregate intrinsic value | €

€ 13,104

^[1],[2]

Range 3 [Member]

Outstanding options - weighted average remaining contractual life (Year)

120,100

2 years

Outstanding options, weighted average exercise price (in EUR per share)

€ 2.38

€ 26,318

^[1]

Exercisable options - weighted average exercise price (in EUR per share)

120,100

^[2]

€ 2.38

^[2]

Exercisable options - aggregate intrinsic value | €

€ 26,318

^[1],[2]

Range 4 [member]

Outstanding options - weighted average remaining contractual life (Year)

297,500

4 years 182 days

Outstanding options, weighted average exercise price (in EUR per share)

€ 1.91

€ 205,017

^[1]

Exercisable options - weighted average exercise price (in EUR per share)

297,500

^[2]

€ 1.91

^[2]

Exercisable options - aggregate intrinsic value | €

€ 205,017

^[1],[2]

Range 5 [Member]

Outstanding options - weighted average remaining contractual life (Year)

50,000

2 years

Outstanding options, weighted average exercise price (in EUR per share)

€ 1.88

€ 35,957

^[1]

Exercisable options - weighted average exercise price (in EUR per share)

50,000

^[2]

€ 1.88

^[2]

Exercisable options - aggregate intrinsic value | €

€ 35,957

^[1],[2]

[1]	The aggregate intrinsic value represents the total pre-tax intrinsic value, based on the Company's closing stock price of $3.03 at June 30, 2018, which would have been received by the option holders had all in-the-money option holders exercised their options as of that date.
[2]	Fully vested options are all exercisable options

Note 8 - Financial Income, Net - Schedule of Financial Income (Expense) (Details) - EUR (€)
€ in Thousands

6 Months Ended

Jun. 30, 2018

Jun. 30, 2017

Interest income

€ 8

€ 6

Interest expense

(26)

(18)

Warrants exercised or forfeited

625

Changes in fair value of the warrants (1)

^[1]

545

795

Total

€ 528

€ 1,408

[1]	For more details on the fair value of Financial Instruments, please refer to Notes 6.

Note 9 - Segment Information (Details Textual)	6 Months Ended
Note 9 - Segment Information (Details Textual)	Jun. 30, 2018
Number of Reportable Segments	4

Note 9 - Segment Information - Reconciliation of Operating Profit (Loss) From Segments to Consolidated (Details) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Segment operating income (loss)	€ (1,482)	€ (848)
Financial income (expense), net	528	1,408
Foreign Currency exchange (losses) gains, net	456	(450)
Other income (expense), net
Income tax (expense) credit	(180)	(175)
Net income (loss)	€ (679)	€ (65)