Note 7 - Consolidation of Variable Interest Entity |
9 Months Ended |
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Sep. 30, 2018 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] |
NOTE
7 – CONSOLIDATION OF VARIABLE INTEREST ENTITYMilestone Education was, until
September 2018 ( see below), a 50% owned subsidiary of Milestone Scientific which began operations in 2013 to provide training and education to dentists throughout the world. As of September 30, 2018, and 2017, approximately 80% and 81%, respectively, of the revenue earned by Milestone Education is from services performed for Milestone Scientific. Because of this dependency and relationship, we determined that Milestone Scientific 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. Milestone Scientific purchased the remaining 50% of Milestone Education in September 2018 for a nominal purchase price. Milestone Scientific acquired the non-controlling interest in the amount of $8,020. |