Processa Pharmaceuticals Inc
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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FY2023 · Filed Mar 29, 2024
PCSA$1.87-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash Flows From Operating Activities | ||
| Net Loss | $(11,121,520) | $(27,424,229) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 222 | - |
| Non-cash lease expense for right-of-use assets | 81,530 | 85,518 |
| Non-cash milestone expense in connection with license agreement | - | 189,000 |
| Amortization of debt issuance costs | - | 115,613 |
| Amortization of intangible asset | - | 788,495 |
| Impairment of intangible asset | - | 7,268,143 |
| Stock-based compensation | 1,060,339 | 8,828,713 |
| Warrants issued to purchase 158,007 shares of common stock | 1,310,875 | - |
| Net changes in operating assets and liabilities: | ||
| Prepaid expenses and other | 956,834 | 210,549 |
| Operating lease liability | (78,896) | (87,937) |
| Accounts payable | (15,931) | 108,643 |
| Due (from) to related parties | (12) | (1,721) |
| Other receivables | - | 70,274 |
| Accrued expenses | (256,787) | 243,796) |
| Net cash (used in) operating activities | (8,063,346) | (9,605,143) |
| Cash Flows From Investing Activities | ||
| Purchase of property and equipment | (2,776) | - |
| Net cash (used in) provided by investing activities | (2,776) | - |
| Cash Flows From Financing Activities | ||
| Net proceeds from issuance of stock | 6,321,470 | - |
| Shares withheld to pay taxes on stock-based compensation | - | (88,843) |
| Settlement of stock award | (52,746) | - |
| Acquisition of treasury stock | - | (300,000) |
| Net cash (used in) provided by financing activities | 6,268,724 | (388,843) |
| Net (Decrease) Increase in Cash and Cash Equivalents | (1,797,398) | (9,993,986 |
| Cash and Cash Equivalents - Beginning of Year | 6,503,595 | 16,497,581 |
| Cash and Cash Equivalents - End of Year | $4,706,197 | $6,503,595 |
| Years Ended December 31, | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| Supplemental Cash Flow Information: | ||||
| Cash paid for interest | $ | - | $ | - |
| Cash paid for income taxes · - · - | ||||
| Non-Cash Financing Activities | ||||
| Issuance of 880 shares of common stock in satisfaction of accrued director fees | $ | - | $120,000 | |
| Issuance of 5,000 shares of common stock in connection with a licensing agreement which had previously been recorded as a due to licensor | $ | - | $400,000 | |
| Issuance of 6,181 shares of common stock in connection with the Purchase Agreement with Lincoln Park | $ | - | $450,000 | |
| - | ||||
| Right-of-use asset obtained in exchange for operating lease liability | $ | - | $(238,924) | |
| Operating lease liability | - | 238,924 | ||
| Net | $ | - | $ | - |
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