Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Milestone Education LLC [Member]    
Current Assets:    
Investment in Milestone Education LLC $ 16,346
Stockholders’ Equity    
Total Equity   16,346
Cash and cash equivalents 2,322,705 4,194,384
Accounts receivable, net of allowance for doubtful accounts of $10,000 as of September 30, 2016 and $5,000 as of December 31, 2015 2,553,186 1,863,582
Other receivable 58,140
Inventories 4,319,255 4,258,094
Advances on contracts 1,268,694 1,215,128
Prepaid expenses and other current assets 276,903 304,604
Total current assets 10,740,743 11,893,932
Furniture, fixtures & equipment net of accumulated depreciation of $636,265 as of September 30, 2016 and $566,477 as of December 31, 2015 181,906 235,935
Patents, net of accumulated amortization of $699,405 as of September 30, 2016 and $646,388 as of December 31, 2015 678,139 715,540
Other assets 17,355 17,355
Total assets 11,618,143 12,879,108
Accounts payable 2,273,585 2,088,268
Accrued expenses and other payables 1,741,806 1,555,567
Other liabilities 381,113 69,781
Total current liabilities 4,396,504 3,713,616
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, 33,333 shares held in the treasury, and 7,000 shares issued and outstanding as September 30, 2016 and December 31, 2015 7 7
Common stock, par value $.001; authorized 50,000,000 shares; 28,066,666 shares issued, 1,145,481shares to be issued and 28,033,333 shares outstanding as of September 30, 2016; 21,720,497 shares issued, 963,451 shares to be issued and 21,687,164 shares outstanding as of December 31, 2015 29,213 22,685
Additional paid-in capital 79,477,418 78,632,383
Accumulated deficit (71,642,654) (67,434,984)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 6,952,468 10,308,575
Noncontrolling interest 269,171 (1,143,083)
Total Equity 7,221,639 9,165,492
Total liabilities and stockholders’ equity $ 11,618,143 $ 12,879,108