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

Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations, Disclosure

Discontinued Operations, Disclosure

6 Months Ended

Jun. 30, 2017

3. DISCONTINUED OPERATIONS:

In efforts to streamline operations and expenses the Company elected to discontinue the Dr. Pave and Dr. Pave Worldwide entities during 2015. The financial results of these events are represented in the discontinued operations included in the June 30, 2017 and 2016 financial statements.

The operating results of discontinued operations of Dr. Pave and Dr. Pave Worldwide for the three and six months ended June 30, 2017 and 2016 are summarized below:

	Three months ended June 30,				Six months ended June 30,
	2017		2016		2017		2016
Revenue	$	--	$	--	$	--	$	--
Expense		--		48		--		(1,792)
Net Loss, before Other income and expense and taxes		--		(48)		--		(1,792)
Other income (expense)		--		3,308		--		(536)
Income tax benefit		--		--		--		--
Net Income (Loss), net of tax	$	--	$	3,260	$	--	$	1,256

The were no assets or liabilities from discontinued operations as of June 30, 2017 and December 31, 2016.