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

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment Disclosure

Property and Equipment Disclosure

3 Months Ended

Jun. 30, 2014

Notes

Property and Equipment Disclosure

3. PROPERTY AND EQUIPMENT:

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

	June 30, 2014		December 31, 2013
	(unaudited)
Office furniture and equipment	$	29,205	$	20,562
Demo and service equipment		541,228		426,336
		570,433		446,898
Accumulated depreciation		(126,765)		(77,123)
	$	443,668	$	369,775

Depreciation expense was $23,358 and $45,133 for the three and six months ended June 30, 2014 and $13,223 and $26,256 for the three and six months ended June 30, 2013.

- 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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