Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Product sales, net $ 1,246,110 $ 1,899,821 $ 3,225,170 $ 6,073,580
Cost of products sold 409,621 523,672 1,024,947 1,894,550
Gross profit 836,489 1,376,149 2,200,223 4,179,030
Selling, general and administrative expenses 2,291,779 2,314,943 8,221,359 6,941,964
Research and development expenses 21,438 7,940 237,089 109,815
Total operating expenses 2,313,217 2,322,883 8,458,448 7,051,779
Loss from operations (1,476,728) (946,734) (6,258,225) (2,872,749)
Interest expense (569) (2,449) (8,727) (6,067)
Change in fair value of derivative liability (1,899,484) (1,846,761)
Loss before provision for income taxes and net of equity investments (1,477,297) (2,848,667) (6,266,952) (4,725,577)
Provision for income taxes (24,717) (1,250) (26,217) (19,877)
Loss before equity in net earnings (losses) of equity investments (1,502,014) (2,849,917) (6,293,169) (4,745,454)
Earnings from China Joint Venture 49,099
Net loss (1,502,014) (2,849,917) (6,293,169) (4,696,355)
Net loss attributable to noncontrolling interests 11,025 12,941 35,501 35,343
Net loss attributable to Milestone Scientific Inc. $ (1,490,989) $ (2,836,976) $ (6,257,668) $ (4,661,012)
Net loss per share applicable to common stockholders—        
Basic (in dollars per share) $ (0.02) $ (0.06) $ (0.11) $ (0.11)
Diluted (in dollars per share) $ (0.02) $ (0.06) $ (0.11) $ (0.11)
Weighted average shares outstanding and to be issued—        
Basic (in shares) 65,817,132 47,721,732 56,478,151 43,311,984
Diluted (in shares) 65,817,132 47,721,732 56,478,151 43,311,984