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

Sep. 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:

	September 30, 2014		December 31, 2013
	(unaudited)
Office furniture and equipment	$	30,152	$	20,562
Demo and service equipment		599,432		426,336
		629,584		446,898
Accumulated depreciation		(149,193)		(77,123)
	$	480,391	$	369,775

Depreciation expense was $22,427 and $67,560 for the three and nine months ended September 30, 2014 and $14,518 and $40,774 for the three and nine months ended September 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.

+ References + Details