Processa Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Note

Property and Equipment, Note

3 Months Ended

Mar. 31, 2014

Notes

Property and Equipment, Note

3. PROPERTY AND EQUIPMENT:

A summary of the cost of property and equipment, by component, and the related accumulated depreciation is as follows:

	March 31, 2014		December 31, 2013
	(unaudited)
Office furniture and equipment	$	27,205	$	20,562
Demo and service equipment		541,228		426,336
		568,433		446,898
Accumulated depreciation		(103,407)		(77,123)
	$	465,026	$	369,775

Depreciation expense was $21,775 and $13,034 for the three months ended March 31, 2014 and March 31, 2013, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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