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

Annual report pursuant to Section 13 and 15(d)

Property and Equipment Disclosure

Property and Equipment Disclosure

12 Months Ended

Dec. 31, 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:

	December 31, 2014		December 31, 2013
Computer equipment & software	$	30,152	$	20,562
Demo equipment		599,432		426,336
Leasehold improvements		22,580		-
		652,164		446,898
Accumulated depreciation		(185,751)		(77,123)
	$	466,413	$	369,775

Depreciation expense was $104,118 and $57,763 for the years ended December 31, 2014 and 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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