Note 7 - Consolidation of Variable Interest Entity
|3 Months Ended|
Mar. 31, 2018
|Notes to Financial Statements|
|Variable Interest Entity Disclosure [Text Block]||
7– CONSOLIDATION OF VARIABLE INTEREST ENTITY
Milestone Education is a
50%owned subsidiary of Milestone Scientific which began operations in
2013to provide training and education to dentists throughout the world. As of
March 31, 2018,and
82%of the revenue earned by Milestone Education is from services performed for Milestone Scientific, respectively. Because of this dependency and relationship, we determined that we 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.
The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef