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

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2013

Notes

Property and Equipment

3. PROPERTY AND EQUIPMENT:

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

	December 31, 2013	December 31, 2012
Computer equipment & software	$ 20,562	$ 14,285
Demo equipment	426,336	321,432
	446,898	335,717
Accumulated depreciation	(77,123)	(19,360)
	$ 369,775	$ 316,357

Depreciation expense was $57,763 and $19,182 for the years ended December 31, 2013 and 2012, 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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