10-Q Filing

Processa Pharmaceuticals, Inc. CIK: 1533743 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001393905-17-000369`
Period End Date	20170930
Filing Date	20171120
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	pcsa-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 67 Cash Flow Statement 48

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.24K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.26K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.24K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.26K	USD	Point-in-time
Total assets	`Assets`	$3.24K	USD	Point-in-time
Total assets	`Assets`	$80.26K	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
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	178,924.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$95.57K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$19.75K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$134.51K	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
Interest payable	`InterestPayableCurrent`	$441.17K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	350.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$200.00	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	24.69M	shares	Point-in-time
Senior secured notes payable	`NotesPayableCurrent`	$962.36K	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	11.02M	shares	Point-in-time
Unsecured notes payable	`UnsecuredDebtCurrent`	$420.00K	USD	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	24.69M	shares	Point-in-time
Revolving line of credit	`LineOfCredit`	$229.98K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$115.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$115.31K	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
Common stock value	`CommonStockValue`	$2.47K	USD	Point-in-time
Common stock value	`CommonStockValue`	$1.10K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$17.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$14.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-35.05K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-2.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$80.26K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.24K	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Equipment sales	`SalesRevenueNet`	$5.00K	USD	3 Qtrs
Total revenue	`Revenues`	$5.00K	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.00K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$88.19K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$163.77K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$187.64K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.39K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$166.00	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$574.00	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.27K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$187.81K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$163.77K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.97K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$94.47K	USD	3 Qtrs
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-89.47K	USD	3 Qtrs
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-187.81K	USD	3 Qtrs
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-163.77K	USD	1 Quarter
Loss from continuing operations, before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-4.97K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$25.16K	USD	3 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.45K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$36.36K	USD	3 Qtrs
Interest expense	`InterestExpense`	$44.16K	USD	1 Quarter
Interest expense	`InterestExpense`	$169.51K	USD	3 Qtrs
Interest expense	`InterestExpense`	$63.32K	USD	1 Quarter
Interest expense	`InterestExpense`	$182.06K	USD	3 Qtrs
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-63.32K	USD	1 Quarter
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-38.71K	USD	1 Quarter
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-133.15K	USD	3 Qtrs
Total other income and expense	`OtherOperatingIncomeExpenseNet`	$-156.91K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-202.48K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-320.96K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-68.29K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-246.37K	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$-1.93K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$-1.93K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-246.37K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-204.41K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-322.89K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-68.29K	USD	1 Quarter
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$1.21K	USD	3 Qtrs
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-42.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-204.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-245.16K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-68.33K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-322.89K	USD	3 Qtrs
Preferred stock cumulative dividend and deemed dividend	`DistributedEarnings`	$-10.82K	USD	1 Quarter
Preferred stock cumulative dividend and deemed dividend	`DistributedEarnings`	$-32.23K	USD	3 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-79.16K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-277.39K	USD	3 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-204.41K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-322.89K	USD	3 Qtrs
Net loss per common share basic and diluted from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.03	USD	3 Qtrs
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`	$-0.03	USD	3 Qtrs
Net loss per common share basic and diluted from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net loss per common share basic and diluted from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	3 Qtrs
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	3 Qtrs
Net loss per common share basic and diluted from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	3 Qtrs
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	3 Qtrs
Net loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.02M	shares	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.06M	shares	3 Qtrs
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.02M	shares	3 Qtrs
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.16M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-204.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-245.16K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-68.33K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-322.89K	USD	3 Qtrs
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$1.21K	USD	3 Qtrs
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-42.00	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-246.37K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-204.41K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-322.89K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-68.29K	USD	1 Quarter
Depreciation expense	`Depreciation`	$159.00	USD	3 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$25.16K	USD	3 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.45K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$36.36K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$967.00	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$6.69K	USD	3 Qtrs
(Increase) decrease in prepaid and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$47.72K	USD	3 Qtrs
Increase (decrease) in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-200.00	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$14.57K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-34.24K	USD	3 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.84K	USD	3 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-28.23K	USD	3 Qtrs
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$171.94K	USD	3 Qtrs
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$176.85K	USD	3 Qtrs
Cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-27.40K	USD	3 Qtrs
Cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-249.97K	USD	3 Qtrs
Cash used in operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$8.81K	USD	3 Qtrs
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-249.97K	USD	3 Qtrs
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-36.21K	USD	3 Qtrs
Proceeds from sale of assets held for sale	`ProceedsFromSaleOfOtherAssets1`	$17.00K	USD	3 Qtrs
Cash provided by (used in) investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$17.00K	USD	3 Qtrs
Cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$17.00K	USD	3 Qtrs
Proceeds from issuance of senior secured notes payable	`ProceedsFromSecuredNotesPayable`	$15.00K	USD	3 Qtrs
Proceeds from issuance of senior secured notes payable	`ProceedsFromSecuredNotesPayable`	$327.00K	USD	3 Qtrs
Cash provided by (used in) financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.00K	USD	3 Qtrs
Cash provided by (used in) financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$327.00K	USD	3 Qtrs
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$327.00K	USD	3 Qtrs
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.00K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$77.03K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.21K	USD	3 Qtrs
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`	$80.26K	USD	Point-in-time
Cash and cash equivalents, beginning of period, including discontinued operations	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$10.23K	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, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$3.24K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$80.26K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$10.23K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$14.44K	USD	Point-in-time

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