Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Consolidation of Variable Interest Entity (Tables)

v3.5.0.2
Note 3 - Consolidation of Variable Interest Entity (Tables)
9 Months Ended
Sep. 30, 2016
Notes Tables  
Equity Method Investments [Table Text Block]
   
Three Months Ended September 30, 2015
Pro Forma
   
Nine Months Ended September 30, 2015
Pro Forma
 
             
Total revenue
  $ 2,509,096     $ 7,099,164  
Cost of products sold
  805,429     2,312,980  
Gross Profit
  1,703,667     4,786,184  
Selling, general and administrative expenses
  3,481,703     9,609,318  
Research and development expenses
  217,138     621,870  
Operating expenses
  3,698,841     10,231,188  
Loss from operations
  (1,995,174 )   (5,445,004 )
Interest expense
  (18,237 )   (21,655 )
Loss before provision for income tax and equity in net
earnings of equity investments
  (2,013,411 )   (5,466,659 )
Provision for Income Tax
  (27,105 )   (40,751 )
Loss before equity in net earnings of equity
investments
  (2,040,516 )   (5,507,410 )
Loss on earnings from China Joint Venture
  (123,083 )   (187,063 )
Loss in equity investments
  (123,083 )   (187,063 )
Net loss
  (2,163,599 )   (5,694,473 )
Less: Net loss attributable to the
noncontrolling interests
  (594,397 )   (1,632,948 )
Net loss attributable to Milestone
Scientific Inc.
  $ (1,569,202 )   $ (4,061,525 )