Processa Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Senior Convertible Notes (Details Narrative)

v3.8.0.1

Senior Convertible Notes (Details Narrative) - USD ($)		12 Months Ended
Senior Convertible Notes (Details Narrative) - USD ($)	Nov. 21, 2017	Dec. 31, 2017	Oct. 04, 2017	Dec. 31, 2016
Accrued interest		$ 35,693
Contractual interest expense		$ 59,063
Boustead Securities Ltd [Member]
Debt interest rate		13.96%
Gross proceeds from debt percentage		6.00%
Warrant to purchase securities percentage		3.00%
Excess investment		$ 8,000,000
Excess investment description		The Company shall pay Boustead a cash fee equal to two percent (2%) of the Excess Investment and six percent (6%) of the balance of the Excess Investment
Debt issuance costs		$ 154,800
Debt effective interest rate		7.72%
Private Investment in Public Equity [Member]
Gross proceeds from convertible debt		$ 4,000,000
Accredited Investors [Member]
Proceeds from financing cost	$ 1,330,000
Senior Notes [Member]
Senior secured convertible notes			$ 1,250,000
Senior notes issued and outstanding		2,580,000
Pre-money valuation in investment		$ 72,000,000
Pre-money valuation discount percentage		10.00%
Debt maturity term		1 year
Debt interest rate		8.00%
Debt interest term		May elect to receive 110% of principal plus accrued interest in the event there is a change of control prior to conversion of the Senior Notes
Future maturities of debt		$ 2,580,000
Amortization of debt issuance costs		131,430
Senior Notes [Member] \| December 31, 2018 [Member]
Future maturities of debt		2,580,000
Accrued interest		206,400
Contractual interest expense		170,707
Amortization of debt issuance costs		$ 131,430

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