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

Mar. 31, 2015

Notes

Property and Equipment Disclosure

4. PROPERTY AND EQUIPMENT:

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

	March 31, 2015		December 31, 2014
Computer equipment & software	$	31,551	$	30,152
Demo equipment		599,432		599,432
Leasehold improvements		22,580		22,580
		653,563		652,164
Accumulated depreciation		(214,840)		(185,751)
	$	438,723	$	466,413

Depreciation expense was $29,089 and $21,775 for the three months ended March 31, 2015 and 2014, 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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