Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 2,739,700 $ 743,429
Accounts receivable, net 1,512,746 1,978,456
Accounts receivable, related party, net 50,000 100,000
Prepaid expenses and other current assets 595,951 414,541
Deferred cost, related party 24,602 50,000
Inventories, net 1,861,291 1,921,051
Advances on contracts 530,114 648,783
Total current assets 7,314,404 5,856,260
Furniture, fixtures and equipment, net 77,869 82,557
Patents, net 422,021 435,273
Operating lease-right of use assets 129,982
Other assets 17,355 26,878
Total assets 7,961,631 6,400,968
Current liabilities:    
Accounts payable 1,198,624 1,205,396
Accounts payable, related party 1,400,806 1,663,849
Accrued expenses and other payables 1,548,353 1,481,715
Accrued expenses, related party 110,215
Operating lease-current 114,058
Deferred profit, related party 431,364 421,800
Deferred revenue, related party 50,000 100,000
Derivative liability 365,785
Total current liabilities 5,219,205 4,872,760
Operating lease-non current 15,924
Total liabilities 5,235,129 4,872,760
Commitments and contingencies
Stockholders’ equity    
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, and 7,000 shares issued and outstanding (liquidation preference of $7,000,000 as of March 31, 2019 and December 31, 2018 ) 7 7
Common stock, par value $.001; authorized 50,000,000 shares; 40,855,721 shares issued, 2,807,710 shares to be issued and 40,822,388 shares outstanding as of March 31, 2019; 33,859,034 shares issued, 2,470,565 shares to be issued and 33,825,701 shares outstanding as of December 31, 2018; 43,662 36,330
Additional paid in capital 90,398,875 88,414,718
Accumulated deficit (86,782,681) (85,999,929)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 2,748,347 1,539,610
Noncontrolling interest (21,845) (11,402)
Total stockholders’ equity 2,726,502 1,528,208
Total liabilities and stockholders’ equity $ 7,961,631 $ 6,400,968