Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($) |
3 Months Ended | 12 Months Ended | ||||||
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May 05, 2020 |
Sep. 20, 2019 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Mar. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Apr. 02, 2020 |
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Accumulated deficit | $ (11,856,346) | $ (10,982,010) | $ (10,982,010) | $ (7,624,134) | ||||
Net loss | (874,336) | $ (750,832) | (3,357,876) | (3,765,047) | ||||
Net cash used in operating activities | (546,453) | $ (607,429) | (2,750,145) | (3,707,914) | ||||
Cash and cash equivalents | $ 142,277 | $ 691,536 | $ 691,536 | $ 1,740,961 | ||||
Potentially dilutive common shares | 782,923 | 660,511 | 715,452 | 588,586 | ||||
2018 Private Placement Transactions [Member] | ||||||||
Number of common shares to be issued | 28,971 | 28,971 | ||||||
LOC Agreements [Member] | DKBK Enterprises, LLC [Member] | ||||||||
Revolving line of credit commitment | $ 700,000 | |||||||
LOC Agreements [Member] | DKBK Enterprises, LLC [Member] | Subsequent Event [Member] | ||||||||
Due to related party | $ 200,000 | |||||||
LOC Agreements [Member] | CorLyst, LLC [Member] | ||||||||
Revolving line of credit commitment | $ 700,000 | |||||||
Common stock beneficially owned, shares | 1,073,050 | |||||||
Equity method investment, ownership percentage | 19.60% | |||||||
Two LOC Agreements [Member] | Lenders [Member] | ||||||||
Revolving line of credit commitment | $ 1,400,000 | |||||||
Line of credit, interest percentage | 8.00% | |||||||
Debt instrument, conversion terms | Under the LOC Agreements, all funds borrowed will bear an 8% annual interest rate. The Lenders have the right to convert all or any portion of the debt and interest into Processa common shares. Our Chief Executive Officer (CEO) is also the CEO and Managing Member of both Lenders. CorLyst directly holds 1,073,050 shares of Processa common stock, representing approximately 19.6% of the Company's outstanding shares of voting capital stock. | |||||||
Paycheck Protection Program [Member] | Subsequent Event [Member] | ||||||||
Proceeds from notes payable | $ 162,459 |
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- Definition Common stock beneficially owned, shares. No definition available.
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- Definition Number of common shares to be issued. No definition available.
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- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Description of the conversion terms of a debt instrument which may include the conversion ratio (including all potential conversion ratios if contingently adjustable), type of debt or equity security into which the debt is convertible, the dollars of debt or the number of shares into which the instrument is convertible (or potentially convertible into), the conversion period, any contingencies associated with the conversion terms, and the existence and amount of a beneficial conversion feature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying amount as of the balance sheet date of obligations due all related parties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The effective interest rate during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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