Note 14 - Subsequent Events
|9 Months Ended|
Sep. 30, 2017
|Notes to Financial Statements|
|Subsequent Events [Text Block]||
14- Subsequent Events
October 5, 2017,Milestone Scientific announced that Daniel Goldberger had resigned as President and Chief Executive Officer effective
October 2, 2017.
October 5, 2017,Milestone Scientific also announced the appointment of Leslie Bernhard, the Company’s current Chairman of the Board, as the Company’s Interim Chief Executive Officer, to serve in such role until the appointment of a new Chief Executive Officer.
In connection with her appointment to serve as the Company
’s Interim Chief Executive Officer, Ms. Bernhard will be paid an annual salary of
$200,000and receive a
one-time bonus of
100,000shares of the Company’s Common Stock. In addition, at the completion of her service as Interim Chief Executive Officer, Ms. Bernhard shall be entitled to receive a cash bonus in an amount to be determined by the Board of Directors at that time.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/presentationRef