Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Consolidation of Variable Interest Entity

v3.8.0.1
Note 4 - Consolidation of Variable Interest Entity
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Variable Interest Entity Disclosure [Text Block]
NOTE
 -
4
CONSOLIDATION OF VARIABLE INTEREST ENTITY
 
Milestone Education is a
50%
owned subsidiary of Milestone Scientific which began operations in
2013
to provide training and education to dentists thr
oughout the world. Milestone Scientific accounted for its investment in Milestone Education using the equity method of accounting through
December 31, 2015.
Approximately
81%
of the revenue earned by Milestone Education is from services performed for Milestone Scientific as of
September 30, 2017.
As a result 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 is consolidated in our financial statements.