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

9 Months Ended

Sep. 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 September 30, 2017 and 2016 financial statements.

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

	Three months ended September 30,				Nine months ended September 30,
	2017		2016		2017		2016
Revenue	$	--	$	--	$	--	$	--
Expense		--		42		--		(1,750)
Net Loss, before Other income and expense and taxes		--		(42)		--		1,750
Other income (expense)		--		--		--		(536)
Income tax benefit		--		--		--		--
Net Income (Loss), net of tax	$	--	$	(42)	$	--	$	1,214

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