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

Annual report pursuant to Section 13 and 15(d)

Discontinued Operations, Disclosure: Schedules of Discontinued Operations (Tables)

Discontinued Operations, Disclosure: Schedules of Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

	2015		2014
Revenue	$	28,870	$	92,962
Expense		400,177		933,611
Net Loss, before taxes		(371,307)		(840,649)
Income tax benefit		--		--
Net Loss, net of tax	$	(371,307)	$	(840,649)

The balance sheet items for discontinued operations as of December 31, 2015 and 2014 are summarized below:

	2015		2014
Cash and cash equivalents	$	12,350	$	25,044
Accounts receivable, net		--		2,785
Inventories		--		2,815
Other current assets		--		24,004
Total current assets		12,350		54,648
Fixed assets, net		--		107,457
Total assets	$	12,350	$	162,105

Payables and accrued liabilities		70,358		63,213
Short-term debt		229,980		389,980
Total liabilities	$	300,338	$	453,193

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details