Balance Sheet

v3.7.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,941,555 $ 3,602,229
Accounts receivable, net of allowance for doubtful accounts of $10,000 as of March 31, 2017 and December 31, 2016 1,626,566 802,384
Accounts receivable from related party 682,809 2,083,610
Other receivable 10,000
Inventories 4,533,834 4,602,719
Advances on contracts 862,014 700,900
Deferred cost 181,116 620,041
Prepaid expenses and other current assets 509,542 291,929
Total current assets 11,337,436 12,713,812
Furniture, fixtures & equipment net of accumulated depreciation of $676,144 as of March 31, 2017 and $659,144 as of December 31, 2016 142,166 159,026
Patents, net of accumulated amortization of $734,768 as of March 31, 2017 and $717,086 as of December 31, 2016 642,775 660,457
Other assets 26,878 17,355
Total assets 12,149,255 13,550,650
Current Liabilities:    
Accounts payable 889,050 1,341,207
Accounts payable related party 1,082,304 1,235,052
Accrued expenses and other payables 1,294,353 1,436,262
Deferred revenue 356,400 1,001,800
Total current liabilities 3,622,107 5,014,321
Commitments and Contingencies
Stockholders’ Equity    
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, 33,333 shares held in the treasury, and 7,000 shares issued and outstanding as March 31, 2017 and December 31, 2016 7 7
Common stock, par value $.001; authorized 50,000,000 shares; 30,712,686 shares issued, 1,361,071 shares to be issued and 30,679,353 shares outstanding as of March 31, 2017; 30,457,224 shares issued, 1,270,481 shares to be issued and 30,423,891 shares outstanding as of December 31, 2016 32,073 31,720
Additional paid-in capital 83,329,954 82,761,503
Accumulated deficit (73,886,359) (73,381,491)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 8,564,159 8,500,223
Noncontrolling interest 37,011 (36,106)
Total Equity 8,527,148 8,536,329
Total liabilities and stockholders’ equity $ 12,149,255 $ 13,550,650

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