v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Product sales, net $ 1,899,821 $ 1,622,246 $ 6,073,580 $ 5,856,351
Cost of products sold 523,672 1,742,451 1,894,550 3,326,341
Gross profit 1,376,149 (120,205) 4,179,030 2,530,010
Selling, general and administrative expenses 2,314,943 2,886,082 6,941,964 8,748,485
Research and development expenses 7,940 1,500 109,815 215,655
Impairment to long lived assets 1,539,794 1,539,794
Total operating expenses 2,322,883 4,427,376 7,051,779 10,503,934
Loss from operations (946,734) (4,547,581) (2,872,749) (7,973,924)
Other expenses (2,633) (1,784) (7,458) (5,239)
Interest income 184 1,544 1,391 6,135
Change in fair value of derivative liability (1,899,484) (1,846,761)
Loss before provision for income taxes and net of equity investments (2,848,667) (4,547,821) (4,725,577) (7,973,028)
Provision for income taxes (1,250) (1,622) (19,877) (17,160)
Loss before equity in net earnings (losses) of equity investments (2,849,917) (4,549,443) (4,745,454) (7,990,188)
Income from earnings on China joint venture     (49,100) (258,616)
Net loss (2,849,917) (4,404,566) (4,696,358) (7,729,937)
Net loss attributable to noncontrolling interests 12,941 11,742 35,343 118,424
Net loss attributable to Milestone Scientific Inc. $ (2,836,976) $ (4,392,824) $ (4,661,012) $ (7,611,513)
Net loss per share applicable to common stockholders—        
Basic (in dollars per share) $ (0.06) $ (0.12) $ (0.11) $ (0.22)
Diluted (in dollars per share) $ (0.06) $ (0.12) $ (0.11) $ (0.22)
Weighted average shares outstanding and to be issued—        
Basic (in shares) 47,721,732 35,586,995 43,311,984 35,086,822
Diluted (in shares) 47,721,732 35,586,995 43,311,984 35,086,822
Milestone Education LLC [Member]        
Income from earnings on China joint venture $ 1,635 $ 1,635
China Joint Venture [Member]        
Income from earnings on China joint venture $ 143,242 $ 49,099 $ 258,616

Source