v3.7.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,945,631 $ 3,602,229
Accounts receivable, net of allowance for doubtful accounts of $10,000 as of June 30, 2017 and $5,000 as of December 31, 2016 1,419,731 802,384
Accounts receivable from related party 356,400 2,714,600
Other receivable 10,000
Notes receivable, financing transaction short term 500,000
Inventories 4,498,371 4,602,719
Advances on contracts 851,504 700,900
Deferred cost 181,116 620,041
Prepaid expenses and other current assets 746,491 291,929
Total current assets 11,499,244 13,344,802
Furniture, fixtures & equipment net of accumulated depreciation of $707,167 as of June 30, 2017 and $659,144 as of December 31, 2016 170,552 159,026
Patents, net of accumulated amortization of $809,332 as of June 30,2017 and $717,086 as of December 31, 2016 625,092 660,457
Notes receivable, financing transaction long term 775,000
Other assets 26,878 17,355
Total assets 13,096,766 14,181,640
Current Liabilities:    
Accounts payable 985,736 1,341,207
Accounts payable related party 381,432 1,235,052
Accrued expenses and other payables 1,652,144 1,436,262
Deferred profit, related party 659,931 630,990
Deferred revenue 356,400 1,001,800
Total current liabilities 4,035,643 5,645,311
Deferral from financing transaction 1,400,000
Total liabilities 5,435,643 5,645,311
Commitments and Contingencies
Stockholders’ Equity    
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 June 30, 2017 and December 31, 2016 7 7
Common stock, par value $.001; authorized 50,000,000 shares; 31,376,699 shares issued, 1,361,071 shares to be issued and 31,343,366 shares outstanding as of June 30, 2017; 30,457,224 shares issued, 1,270,481 shares to be issued and 30,423,891 shares outstanding as of December 31, 2016 32,736 31,720
Additional paid-in capital 83,600,384 82,761,503
Accumulated deficit (75,365,184) (73,381,491)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 7,356,427 8,500,223
Noncontrolling interest 304,696 36,106
Total Equity 7,661,123 8,536,329
Total liabilities and stockholders’ equity $ 13,096,766 $ 14,181,640

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