Annual report pursuant to Section 13 and 15(d)

Note G - Consolidation of Variable Interest Entity

v3.19.1
Note G - Consolidation of Variable Interest Entity
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Variable Interest Entity Disclosure [Text Block]
NOTE G – CONSOLIDATION OF VARIABLE INTEREST ENTITY
 
Milestone Education was a
50%
owned subsidiary of Milestone Scientific which began operations in
2013
to provide training and education to dentists throughout the world. Approximately
84%
of the revenue earned by Milestone Education is from services performed for Milestone Scientific as of
December 31, 2018
and
2017.
 Because of this dependency and relationship, we determined that Milestone Scientific had the power to direct the activities that most significantly impact Milestone Education's economic performance, and therefore Milestone Education is consolidated in our financial statements. Milestone Scientific  purchased the remaining
50%
of Milestone Education in
September 2018
for a nominal purchase price of
$8,020.