10-Q Filing

Processa Pharmaceuticals, Inc. CIK: 1533743 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001393905-17-000299`
Period End Date	20170331
Filing Date	20171004
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	hwx-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 33 Cash Flow Statement 38

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.24K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.64K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.64K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.24K	USD	Point-in-time
Total assets	`Assets`	$1.64K	USD	Point-in-time
Total assets	`Assets`	$3.24K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$179.32K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.16K	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
Accrued liabilities	`AccruedLiabilitiesCurrent`	$134.51K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.50M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.50M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$144.03K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$503.12K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$441.17K	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
Income taxes payable	`TaxesPayableCurrent`	$200.00	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$200.00	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Senior secured notes payable	`NotesPayableCurrent`	$962.36K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Senior secured notes payable	`NotesPayableCurrent`	$962.36K	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
Unsecured notes payable	`UnsecuredDebtCurrent`	$420.00K	USD	Point-in-time
Unsecured notes payable	`UnsecuredDebtCurrent`	$420.00K	USD	Point-in-time
Revolving line of credit	`LineOfCredit`	$229.98K	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Revolving line of credit	`LineOfCredit`	$229.98K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.35M	USD	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	11.02M	shares	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	11.02M	shares	Point-in-time
Total liabilities	`Liabilities`	$2.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.44M	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`	$14.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.34M	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`	$-2.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.64K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.24K	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Equipment sales	`SalesRevenueNet`	$5.00K	USD	1 Quarter
Total revenue	`Revenues`	$5.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$5.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.60K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$80.52K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$83.00	USD	1 Quarter
Total expenses	`OperatingExpenses`	$80.52K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$13.68K	USD	1 Quarter
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-75.52K	USD	1 Quarter
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-13.68K	USD	1 Quarter
Interest expense	`InterestExpense`	$56.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$61.95K	USD	1 Quarter
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-56.11K	USD	1 Quarter
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-61.95K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-131.62K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-75.63K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-131.62K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-75.63K	USD	1 Quarter
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-75.63K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-133.62K	USD	1 Quarter
Preferred stock cumulative dividend and deemed dividend	`DistributedEarnings`	$-10.59K	USD	1 Quarter
Preferred stock cumulative dividend and deemed dividend	`DistributedEarnings`	$-10.71K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-144.33K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-86.22K	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`	$-0.01	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`	-	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	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`	11.02M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-75.63K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-133.62K	USD	1 Quarter
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-2.00K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-131.62K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-75.63K	USD	1 Quarter
Depreciation expense	`Depreciation`	$159.00	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$967.00	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 prepaid and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$46.45K	USD	1 Quarter
(Increase) decrease in prepaid and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$47.72K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.16K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.02K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-840.00	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.07K	USD	1 Quarter
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$61.95K	USD	1 Quarter
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$50.90K	USD	1 Quarter
Cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.60K	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	`NetCashProvidedByUsedInOperatingActivities`	$-1.60K	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-50.37K	USD	1 Quarter
Proceeds from sale of assets held for sale	`ProceedsFromSaleOfOtherAssets1`	$27.00K	USD	1 Quarter
Cash provided by (used in) investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$27.00K	USD	1 Quarter
Cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$27.00K	USD	1 Quarter
Proceeds from issuance of senior secured notes payable	`ProceedsFromSecuredNotesPayable`	$15.00K	USD	1 Quarter
Cash provided by (used in) financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.00K	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`	$-1.60K	USD	1 Quarter
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$1.64K	USD	Point-in-time
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$3.24K	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`	$6.07K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$1.64K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$3.24K	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`	$6.07K	USD	Point-in-time

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