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

Quarterly report pursuant to Section 13 or 15(d)

Note Receivable Disclosure

Note Receivable Disclosure	6 Months Ended
Jun. 30, 2015
Notes
Note Receivable Disclosure	3. NOTE RECEIVABLE The Company entered into an Equipment Purchase and License Agreement, in which the Company financed $89,964 with a note bearing 12% interest per annum payable monthly. Interest only payments are due monthly with principal and unpaid interest due on February 28, 2016. The Company has the option to extend the financing for an additional twelve months, if the licensee is in good standing. Interest of $3,799 is included in the Note receivable balance of $88,763 as of June 30, 2015. Revenues under this agreement are recorded in deferred revenue and will be recognized in accordance with the Companys revenue recognition policy.

Note Receivable Disclosure

6 Months Ended

Jun. 30, 2015

3. NOTE RECEIVABLE

The Company entered into an Equipment Purchase and License Agreement, in which the Company financed $89,964 with a note bearing 12% interest per annum payable monthly. Interest only payments are due monthly with principal and unpaid interest due on February 28, 2016. The Company has the option to extend the financing for an additional twelve months, if the licensee is in good standing. Interest of $3,799 is included in the Note receivable balance of $88,763 as of June 30, 2015. Revenues under this agreement are recorded in deferred revenue and will be recognized in accordance with the Companys revenue recognition policy.