Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Consolidation of Variable Interest Entity

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Note 4 - Consolidation of Variable Interest Entity
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Variable Interest Entity Disclosure [Text Block]
NOTE
 -
4
CONSOLIDATION OF VARIABLE INTEREST ENTITY
 
Milestone Education is a
50%
owned subsidiary of Milestone Scientific which began operations in
2013
to provide training and education to dentists throughout the world. Milestone Scientific accounted for its investment in Milestone Education using the equity method of accounting through
December 31, 2015.
Approximately
81%
of the revenue earned by Milestone Education is from services performed for Milestone Scientific as of
June 30, 2017.
As a result of this relationship, we determined that we had the power to direct the activities that most significantly impact Milestone Education's economic performance, and that it was  a VIE and would  be consolidated in the financial statements  of Milestone Scientific effective
January 2016.