v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 2,094,238 $ 2,636,956
Accounts receivable, net 833,836 1,535,513
Accounts receivable from related party 1,725,450 1,725,450
Notes receivable from financing transaction, current 500,000 500,000
Prepaid expenses and other current assets 494,717 436,410
Deferred cost related party 1,109,671 1,109,671
Inventories, net 3,265,058 3,379,209
Advances on contracts 984,408 697,192
Total current assets 11,007,378 12,020,401
Furniture, fixtures & equipment, net 115,502 141,760
Patents, net 2,552,382 2,789,748
Notes receivable from financing transaction, noncurrent 650,000 650,000
Other assets 26,878 26,878
Total assets 14,352,140 15,628,787
Current Liabilities:    
Accounts payable 1,556,689 977,623
Accounts payable related party 1,075,078 985,678
Accrued expenses and other payables 1,928,654 2,287,908
Deferred profit, related party 714,717 751,500
Deferred revenue, related party 1,725,450 1,725,450
Total current liabilities 7,000,588 6,728,159
Deferred gain from financing transaction 1,400,000 1,400,000
Total liabilities 8,400,588 8,128,159
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 as of March 31, 2018 and December 31, 2017 7 7
Common stock, par value $.001; authorized 50,000,000 shares; 33,216,571 shares issued, 1,699,323 shares to be issued and 33,183,238 shares outstanding as of March 31, 2018; 33,191,571 shares issued, 1,401,247 shares to be issued and 33,158,238 shares outstanding as of December 31, 2017; 34,915 34,593
Additional paid-in capital 87,115,071 86,689,084
Accumulated deficit (80,442,262) (78,568,284)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 5,796,215 7,243,884
Noncontrolling interest 155,337 256,744
Total stockholders’ equity 5,951,552 7,500,628
Total liabilities and stockholders’ equity $ 14,352,140 $ 15,628,787

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