10-Q Filing

Processa Pharmaceuticals, Inc. CIK: 1533743 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001393905-17-000223`
Period End Date	20160331
Filing Date	20170807
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	hwx-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 41 Cash Flow Statement 57

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.09K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$25.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$47.72K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.27K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$15.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$42.00K	USD	Point-in-time
Current assets from discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$12.35K	USD	Point-in-time
Current assets from discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$3.63K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.34K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$104.16K	USD	Point-in-time
Debt discount, unsecured notes payable	`DebtInstrumentUnamortizedDiscountPremiumNet`	$967.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.50M	shares	Point-in-time
Equipment, net of depreciation	`PropertyPlantAndEquipmentNet`	$159.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.50M	shares	Point-in-time
Total other assets	`OtherAssets`	$159.00	USD	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	178,924.00	shares	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	178,924.00	shares	Point-in-time
Total assets	`Assets`	$47.34K	USD	Point-in-time
Total assets	`Assets`	$104.32K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$169.27K	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$159.25K	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	11.06M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$95.34K	USD	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	11.06M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$93.86K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$161.61K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$212.51K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$200.00	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$200.00	USD	Point-in-time
Senior secured notes payable	`NotesPayableCurrent`	$947.36K	USD	Point-in-time
Senior secured notes payable	`NotesPayableCurrent`	$962.36K	USD	Point-in-time
Current portion of unsecured notes payable	`UnsecuredDebtCurrent`	$419.03K	USD	Point-in-time
Current portion of unsecured notes payable	`UnsecuredDebtCurrent`	$420.00K	USD	Point-in-time
Current liabilities from discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$300.34K	USD	Point-in-time
Current liabilities from discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$307.22K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.08M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	$18.00	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	$18.00	USD	Point-in-time
Common stock value	`CommonStockValue`	$1.10K	USD	Point-in-time
Common stock value	`CommonStockValue`	$1.10K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$14.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$14.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.02M	USD	Point-in-time
Stockholders' equity from discontinued operations	`StockholdersEquityFromDiscontinuedOperations`	$-1.43M	USD	Point-in-time
Stockholders' equity from discontinued operations	`StockholdersEquityFromDiscontinuedOperations`	$-1.43M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-2.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-1.98M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$47.34K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$104.32K	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Equipment sales	`SalesRevenueNet`	$32.76K	USD	1 Quarter
Equipment sales	`SalesRevenueNet`	$5.00K	USD	1 Quarter
Other revenue	`OtherSalesRevenueNet`	$5.00K	USD	1 Quarter
Total revenue	`Revenues`	$5.00K	USD	1 Quarter
Total revenue	`Revenues`	$37.76K	USD	1 Quarter
Costs of goods sold	`CostOfGoodsSold`	$24.97K	USD	1 Quarter
Gross profit	`GrossProfit`	$12.79K	USD	1 Quarter
Gross profit	`GrossProfit`	$5.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$459.44K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$80.52K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.74K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$80.52K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$471.18K	USD	1 Quarter
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-75.52K	USD	1 Quarter
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-458.38K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.25K	USD	1 Quarter
Interest expense	`InterestExpense`	$35.27K	USD	1 Quarter
Interest expense	`InterestExpense`	$56.11K	USD	1 Quarter
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-34.02K	USD	1 Quarter
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$56.11K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-482.40K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-131.62K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$-25.00	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-131.62K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-492.43K	USD	1 Quarter
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-152.18K	USD	1 Quarter
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-133.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-644.61K	USD	1 Quarter
Preferred stock cumulative dividend and deemed dividend	`DistributedEarnings`	$-10.71K	USD	1 Quarter
Preferred stock cumulative dividend and deemed dividend	`DistributedEarnings`	$-10.59K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-655.20K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-144.33K	USD	1 Quarter
Net loss per common share basic and diluted from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Net loss per common share basic and diluted from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.05	USD	1 Quarter
Net loss per common share basic and diluted from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss per common share basic and diluted from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.02M	shares	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.00M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-133.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-644.61K	USD	1 Quarter
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-152.18K	USD	1 Quarter
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-2.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-131.62K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-492.43K	USD	1 Quarter
Depreciation expense	`Depreciation`	$159.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$19.14K	USD	1 Quarter
Amortization of intangible asset	`AmortizationOfIntangibleAssets`	$89.28K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$967.00	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$14.50K	USD	1 Quarter
Non-cash expenses exchanged for services	`OtherNoncashExpense`	$25.50K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$35.55K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.06K	USD	1 Quarter
(Increase) decrease in receivables	`IncreaseDecreaseInReceivables`	$-25.00K	USD	1 Quarter
(Increase) decrease in receivables	`IncreaseDecreaseInReceivables`	$-86.21K	USD	1 Quarter
(Increase) decrease in prepaid and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$46.45K	USD	1 Quarter
(Increase) decrease in prepaid and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$83.90K	USD	1 Quarter
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$24.24K	USD	1 Quarter
Increase (decrease) in consigned inventory	`IncreaseDecreaseInInventoriesAndOtherOperatingAssets`	$-124.45K	USD	1 Quarter
Increase (decrease) in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$25.00	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.02K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.66K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-840.00	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-24.09K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$84.96K	USD	1 Quarter
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$1.87K	USD	1 Quarter
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$50.90K	USD	1 Quarter
Cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-352.85K	USD	1 Quarter
Cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-43.90K	USD	1 Quarter
Cash used in operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-6.47K	USD	1 Quarter
Cash used in operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-149.24K	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-502.09K	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-50.37K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$27.00K	USD	1 Quarter
Cash used in investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$27.00K	USD	1 Quarter
Cash used in investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$1.40K	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.40K	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$27.00K	USD	1 Quarter
Proceeds from issuance of senior secured notes payable	`ProceedsFromSecuredNotesPayable`	$15.00K	USD	1 Quarter
Proceeds from issuance of senior secured notes payable	`ProceedsFromSecuredNotesPayable`	$450.00K	USD	1 Quarter
Proceeds from issuance of senior secured notes payable	`ProceedsFromSecuredNotesPayable`	$75.00K	USD	Point-in-time
Proceeds from issuance of common shares with warrants, net	`ProceedsFromIssuanceOfCommonStock`	$88.00K	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfDebt`	$13.96K	USD	1 Quarter
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$524.04K	USD	1 Quarter
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.37K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.55K	USD	1 Quarter
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$21.23K	USD	Point-in-time
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$14.44K	USD	Point-in-time
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$41.78K	USD	Point-in-time
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$6.07K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$21.23K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$14.44K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$41.78K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$6.07K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.