Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 14, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | MILESTONE SCIENTIFIC INC. | |
Entity Central Index Key | 0000855683 | |
Trading Symbol | mlss | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 48,884,752 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $.001 per share |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 1,711,249 | $ 743,429 |
Accounts receivable, net | 1,239,261 | 1,978,456 |
Accounts receivable, related party, net | 100,000 | |
Prepaid expenses and other current assets | 504,903 | 414,541 |
Deferred cost, related party | 50,000 | |
Inventories, net | 1,617,062 | 1,921,051 |
Advances on contracts | 628,494 | 648,783 |
Operating lease-right of use assets | 54,818 | |
Total current assets | 5,755,787 | 5,856,260 |
Furniture, fixtures and equipment, net | 55,314 | 82,557 |
Patents, net | 395,514 | 435,273 |
Other assets | 35,905 | 26,878 |
Total assets | 6,242,520 | 6,400,968 |
Current liabilities: | ||
Accounts payable | 739,726 | 1,059,186 |
Accounts payable, related party | 1,553,860 | 1,810,058 |
Accrued expenses and other payables | 698,790 | 794,918 |
Accrued expenses, related party | 1,011,244 | 686,798 |
Operating lease liabilities | 54,817 | |
Deferred profit, related party | 372,700 | 421,800 |
Deferred revenue, related party | 100,000 | |
Derivative liability | 3,216,127 | |
Total current liabilities | 7,647,264 | 4,872,760 |
Total liabilities | 7,647,264 | 4,872,760 |
Commitments and contingencies | ||
Stockholders’ equity (deficit) | ||
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, 0 and 7,000 shares issued and outstanding as of September 30, 2019 and December 31, 2018. | 7 | |
Common stock, par value $.001; authorized 50,000,000 shares; 48,199,073 shares issued, 0 shares to be issued and 48,165,740 shares outstanding as of September 30, 2019 ; 33,859,034 shares issued, 2,470,565 shares to be issued and 33,825,701 shares outstanding as of December 31, 2018; | 48,199 | 36,330 |
Additional paid in capital | 90,166,259 | 88,414,718 |
Accumulated deficit | (90,660,941) | (85,999,929) |
Treasury stock, at cost, 33,333 shares | (911,516) | (911,516) |
Total Milestone Scientific Inc. stockholders' equity | (1,357,999) | 1,539,610 |
Noncontrolling interest | (46,745) | (11,402) |
Total stockholders’ equity (deficit) | (1,404,744) | 1,528,208 |
Total liabilities and stockholders’ equity (deficit) | $ 6,242,520 | $ 6,400,968 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.001 | |
Preferred stock, shares authorized (in shares) | 5,000,000 | |
Preferred stock, shares issued (in shares) | 7,000 | |
Preferred stock, shares outstanding (in shares) | 7,000 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 48,199,073 | 33,859,034 |
Common stock, shares to be issued (in shares) | 0 | 2,470,565 |
Common stock, shares outstanding (in shares) | 48,165,740 | 33,825,701 |
Treasury stock, at cost, shares (in shares) | 33,333 | 33,333 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Product sales, net | $ 1,899,821 | $ 1,622,246 | $ 6,073,580 | $ 5,856,351 |
Cost of products sold | 523,672 | 1,742,451 | 1,894,550 | 3,326,341 |
Gross profit | 1,376,149 | (120,205) | 4,179,030 | 2,530,010 |
Selling, general and administrative expenses | 2,314,943 | 2,886,082 | 6,941,964 | 8,748,485 |
Research and development expenses | 7,940 | 1,500 | 109,815 | 215,655 |
Impairment to long lived assets | 1,539,794 | 1,539,794 | ||
Total operating expenses | 2,322,883 | 4,427,376 | 7,051,779 | 10,503,934 |
Loss from operations | (946,734) | (4,547,581) | (2,872,749) | (7,973,924) |
Other expenses | (2,633) | (1,784) | (7,458) | (5,239) |
Interest income | 184 | 1,544 | 1,391 | 6,135 |
Change in fair value of derivative liability | (1,899,484) | (1,846,761) | ||
Loss before provision for income taxes and net of equity investments | (2,848,667) | (4,547,821) | (4,725,577) | (7,973,028) |
Provision for income taxes | (1,250) | (1,622) | (19,877) | (17,160) |
Loss before equity in net earnings (losses) of equity investments | (2,849,917) | (4,549,443) | (4,745,454) | (7,990,188) |
Income from earnings on China joint venture | (49,100) | (258,616) | ||
Net loss | (2,849,917) | (4,404,566) | (4,696,358) | (7,729,937) |
Net loss attributable to noncontrolling interests | 12,941 | 11,742 | 35,343 | 118,424 |
Net loss attributable to Milestone Scientific Inc. | $ (2,836,976) | $ (4,392,824) | $ (4,661,012) | $ (7,611,513) |
Net loss per share applicable to common stockholders— | ||||
Basic (in dollars per share) | $ (0.06) | $ (0.12) | $ (0.11) | $ (0.22) |
Diluted (in dollars per share) | $ (0.06) | $ (0.12) | $ (0.11) | $ (0.22) |
Weighted average shares outstanding and to be issued— | ||||
Basic (in shares) | 47,721,732 | 35,586,995 | 43,311,984 | 35,086,822 |
Diluted (in shares) | 47,721,732 | 35,586,995 | 43,311,984 | 35,086,822 |
Milestone Education LLC [Member] | ||||
Income from earnings on China joint venture | $ 1,635 | $ 1,635 | ||
China Joint Venture [Member] | ||||
Income from earnings on China joint venture | $ 143,242 | $ 49,099 | $ 258,616 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Consultant [Member]Preferred Stock [Member] | Consultant [Member]Common Stock [Member] | Consultant [Member]Additional Paid-in Capital [Member] | Consultant [Member]Retained Earnings [Member] | Consultant [Member]Noncontrolling Interest [Member] | Consultant [Member]Treasury Stock [Member] | Consultant [Member] | Board of Directors [Member]Preferred Stock [Member] | Board of Directors [Member]Common Stock [Member] | Board of Directors [Member]Additional Paid-in Capital [Member] | Board of Directors [Member]Retained Earnings [Member] | Board of Directors [Member]Noncontrolling Interest [Member] | Board of Directors [Member]Treasury Stock [Member] | Board of Directors [Member] | Consultant 2 [Member]Preferred Stock [Member] | Consultant 2 [Member]Common Stock [Member] | Consultant 2 [Member]Additional Paid-in Capital [Member] | Consultant 2 [Member]Retained Earnings [Member] | Consultant 2 [Member]Noncontrolling Interest [Member] | Consultant 2 [Member]Treasury Stock [Member] | Consultant 2 [Member] | Public Offering [Member]Common Stock [Member] | Public Offering [Member]Additional Paid-in Capital [Member] | Public Offering [Member] | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member] | The 2019 Warrants [Member]Preferred Stock [Member] | The 2019 Warrants [Member]Common Stock [Member] | The 2019 Warrants [Member]Additional Paid-in Capital [Member] | The 2019 Warrants [Member]Retained Earnings [Member] | The 2019 Warrants [Member]Noncontrolling Interest [Member] | The 2019 Warrants [Member]Treasury Stock [Member] | The 2019 Warrants [Member] | The 2016 Warrants [Member]Preferred Stock [Member] | The 2016 Warrants [Member]Common Stock [Member] | The 2016 Warrants [Member]Additional Paid-in Capital [Member] | The 2016 Warrants [Member]Retained Earnings [Member] | The 2016 Warrants [Member]Noncontrolling Interest [Member] | The 2016 Warrants [Member]Treasury Stock [Member] | The 2016 Warrants [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 7,000 | 34,592,818 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 7 | $ 34,593 | $ 86,689,084 | $ (78,568,284) | $ 256,744 | $ (911,516) | $ 7,500,628 | |||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 86,809 | 86,809 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses (in shares) | 323,076 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses | $ 323 | 339,177 | 339,500 | |||||||||||||||||||||||||||||||||||||||||||||
Net loss | (1,873,978) | (101,407) | (1,975,385) | |||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2018 | 7,000 | 34,915,894 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2018 | $ 7 | $ 34,916 | 87,115,070 | (80,442,262) | 155,337 | (911,516) | 5,951,552 | |||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 7,000 | 34,592,818 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 7 | $ 34,593 | 86,689,084 | (78,568,284) | 256,744 | (911,516) | 7,500,628 | |||||||||||||||||||||||||||||||||||||||||
Net loss | (7,729,937) | |||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (7,611,513) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Sep. 30, 2018 | 7,000 | 35,657,401 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Sep. 30, 2018 | $ 7 | $ 35,655 | 87,971,298 | (86,179,797) | 130,300 | (911,516) | 1,045,947 | |||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2018 | 7,000 | 34,915,894 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2018 | $ 7 | $ 34,916 | 87,115,070 | (80,442,262) | 155,337 | (911,516) | 5,951,552 | |||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 84,092 | 84,092 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses (in shares) | 79,307 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses | $ 79 | 59,921 | 60,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 296,046 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 294 | $ 249,455 | $ 249,749 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 37,267 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 37 | 37,463 | 37,500 | |||||||||||||||||||||||||||||||||||||||||||||
Net loss | (1,342,736) | (7,250) | (1,349,986) | |||||||||||||||||||||||||||||||||||||||||||||
Common stock for Asset Acquisition (in shares) | 244,959 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock for Asset Acquisition | $ 245 | 286,357 | 286,602 | |||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Jun. 30, 2018 | 7,000 | 35,573,473 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Jun. 30, 2018 | $ 7 | $ 35,571 | 87,832,358 | (81,784,998) | 148,087 | (911,516) | 5,319,509 | |||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 76,524 | 76,524 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses (in shares) | 19,737 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses | $ 20 | 14,980 | 15,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 54,057 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 54 | 39,946 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 10,134 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 10 | 7,490 | 7,500 | |||||||||||||||||||||||||||||||||||||||||||||
Net loss | (9,767) | (4,404,566) | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock for Asset Acquisition | (8,020) | (8,020) | ||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (4,394,799) | (4,392,824) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Sep. 30, 2018 | 7,000 | 35,657,401 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Sep. 30, 2018 | $ 7 | $ 35,655 | 87,971,298 | (86,179,797) | 130,300 | (911,516) | 1,045,947 | |||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 7,000 | 36,329,600 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 7 | $ 36,330 | 88,414,718 | (85,999,929) | (11,402) | (911,516) | 1,528,208 | |||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 56,988 | 56,988 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses (in shares) | 175,715 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses | $ 175 | 61,325 | 61,500 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 118,115 | 20,588 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 118 | 39,882 | 40,000 | $ 21 | $ 6,979 | $ 7,000 | ||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 22,727 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 23 | 7,477 | 7,500 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock issued in offering (in shares) | 6,282,400 | 714,286 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued in offering | $ 6,281 | $ 1,968,265 | $ 1,974,546 | $ 714 | $ 249,286 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||
Reclassification of warrants and Shares to be issued to derivative liability (Note 8) | $ (406,045) | $ (406,045) | ||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (782,752) | (10,443) | (793,195) | |||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2019 | 7,000 | 43,663,431 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2019 | $ 7 | $ 43,662 | 90,398,875 | (86,782,681) | (21,845) | (911,516) | 2,726,502 | |||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 7,000 | 36,329,600 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 7 | $ 36,330 | 88,414,718 | (85,999,929) | (11,402) | (911,516) | 1,528,208 | |||||||||||||||||||||||||||||||||||||||||
Net loss | (4,696,358) | |||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (4,661,012) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Sep. 30, 2019 | 48,199,074 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at Sep. 30, 2019 | $ 48,199 | 90,166,259 | (90,660,941) | (46,745) | (911,516) | (1,404,744) | ||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2019 | 7,000 | 43,663,431 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2019 | $ 7 | $ 43,662 | 90,398,875 | (86,782,681) | (21,845) | (911,516) | 2,726,502 | |||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 44,712 | 44,712 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 265,140 | 82,442 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 265 | 139,735 | 140,000 | $ 82 | 29,918 | 30,000 | ||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 41,667 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 42 | 14,958 | 15,000 | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification of warrants and Shares to be issued to derivative liability (Note 8) | $ (2,902) | (1,062,637) | (1,065,539) | |||||||||||||||||||||||||||||||||||||||||||||
Net loss | (1,041,284) | (11,959) | (1,053,243) | |||||||||||||||||||||||||||||||||||||||||||||
Conversion of Preferred Shares to Common Stock (Mandatory) (in shares) | (7,000) | 5,982,906 | ||||||||||||||||||||||||||||||||||||||||||||||
Conversion of Preferred Shares to Common Stock (Mandatory) | $ (7) | $ 5,983 | (5,976) | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification of warrants and Shares to be issued to derivative liability (Note 8) (in shares) | (2,903,366) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Jun. 30, 2019 | 47,132,220 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at Jun. 30, 2019 | $ 47,132 | 89,559,585 | (87,823,965) | (33,804) | (911,516) | 837,432 | ||||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 45,147 | 45,147 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses (in shares) | 170,454 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employees for bonuses | $ 170 | 149,830 | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 316,824 | 44,408 | 202,325 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 317 | $ 122,683 | $ 123,000 | $ 44 | $ 29,956 | $ 30,000 | $ 202 | $ 113,298 | $ 113,500 | |||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 18,072 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 18 | 14,982 | 15,000 | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification of warrants and Shares to be issued to derivative liability (Note 8) | $ 693 | $ 410,026 | $ 410,719 | $ (435) | $ (308,065) | $ (308,500) | ||||||||||||||||||||||||||||||||||||||||||
Net loss | (2,836,976) | (12,941) | (2,849,917) | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification of warrants and Shares to be issued to derivative liability (Note 8) (in shares) | 692,281 | (435,260) | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised (in shares) | 57,750 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised | $ 58 | 28,817 | 28,875 | |||||||||||||||||||||||||||||||||||||||||||||
Net loss | (2,836,976) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Sep. 30, 2019 | 48,199,074 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at Sep. 30, 2019 | $ 48,199 | $ 90,166,259 | $ (90,660,941) | $ (46,745) | $ (911,516) | $ (1,404,744) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (4,696,358) | $ (7,729,937) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 37,159 | 53,675 |
Amortization of patents | 39,760 | 801,426 |
Impairment to long lived assets | 1,539,794 | |
Stock compensation | 146,847 | 247,425 |
Income from earnings on China joint venture | (49,100) | (258,616) |
Inventory reserve | 728,017 | |
Deferred cost reserve | 790,189 | |
Change in fair value of derivative liability | 1,846,761 | |
Amortization of right-of-use assets | 117,121 | |
Changes in operating assets and liabilities: | ||
Decrease in accounts receivable | 739,195 | 521,347 |
Decrease in accounts receivable, related party | 100,000 | 466,455 |
Increase in other receivables | (9,027) | |
Decrease in inventories | 303,989 | 405,234 |
Decrease (increase) in advances on contracts | 20,289 | (187,631) |
Increase in prepaid expenses and other current assets | (90,362) | (9,854) |
(Decrease) increase in accounts payable | (465,670) | 328,900 |
(Decrease) increase in accounts payable, related party | (109,989) | 467,352 |
Increase (decrease) in deferred cost, related party | 50,000 | (470,708) |
Increase in accrued expenses | (50,424) | 859,677 |
Increase in accrued expenses, related party | 1,011,245 | (43,892) |
Decrease in operating lease-right of use asset | (117,122) | |
(Decrease) increase in deferred revenue, related party | (100,000) | (466,455) |
Net cash used in operating activities | (1,275,686) | (1,957,602) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (9,916) | (6,505) |
Acquisition of Milestone Education | (8,020) | |
Net cash used in investing activities | (9,916) | (14,525) |
Cash flows from financing activities: | ||
Payments for financing transaction | (250,000) | |
Proceeds from exercise of warrants | 28,875 | |
Net proceeds from Public Placement Offering | 1,974,547 | |
Net proceeds from Private Placement Offering | 250,000 | |
Net cash provided by financing activities | 2,253,422 | (250,000) |
Net increase (decrease) in cash and cash equivalents | 967,820 | (2,222,127) |
Cash and cash equivalents at beginning of period | 743,429 | 2,636,956 |
Cash and cash equivalents at end of period | 1,711,249 | 414,829 |
Supplemental non-cash disclosure of cash flow information: | ||
Shares issued to employee for bonuses | 211,500 | 47,401 |
Shares issued to board of directors for services rendered | 67,000 | |
Shares issued to employees for compensation | 37,500 | |
Shares issued to consultants in lieu of cash payments | 416,500 | 350,103 |
Sale of Milestone China share, financing transaction | (1,400,000) | |
Credit from United Systems for defective handpieces | (151,562) | |
Initial recognition of operating lease-right of use assets | (166,292) | |
Initial recognition of operating lease right to used liabilities | $ 166,292 |
Note 1 - Organization and Busin
Note 1 - Organization and Business | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 All references in this report to “Milestone Scientific,” “us,” “our,” “we,” the “Company” or “Milestone” refer to Milestone Scientific Inc., and its consolidated subsidiaries, Wand Dental, Inc., Milestone Advanced Cosmetic Systems, Inc., Milestone Medical, Inc. and Milestone Education LLC (all described below), unless the context otherwise indicates. Milestone Scientific is the owner of the following registered U.S. trademarks: C ompuDent®; CompuMed®; CompuFlo®; DPS Dynamic Pressure Sensing technology®; Milestone Scientific ®; the Milestone logo ®; SafetyWand®; STA Single Tooth Anesthesia System®; and The Wand ®. Milestone Scientific was incorporated in the State of Delaware in November 1989. The Wand® CompuDent®, STA Single Tooth Anesthesia System® CompuMed®. CompuDent® CompuMed® 60 During 2016, 510 CompuFlo June 2017, CompuFlo five In December 2016, 510 not 510 510 In November 2018, not 1003 December 20, 2018, 1003 May 20, 2020. January 24, 2019, not 1003 In February 2019, $2.0 5,715,000 1,428,750 5 $0.50 $198,000 567,400 141,850 Also, in February 2019, $250,000 714,286 178,571 Bp4 Bp4’s 5 $0.50 |
Note 2 - Going Concern and Liqu
Note 2 - Going Concern and Liquidity | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 2 The Company has evaluated whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one September 30, 2019 $1.7 not 12 Milestone Scientific is actively pursuing the generation of positive cash flows from operating activities through an increase in revenue from its dental business worldwide, the generation of revenue from its medical devices and disposables business in the United States and worldwide, and a reduction in operating expenses. However, the Company’s continued operations will depend on its ability to raise additional capital through various potential sources (See Note 8 no These condensed consolidated financial statements have been prepared with the assumption that the Company will continue as a going concern and will be able to realize its assets and discharge its liabilities in the normal course of business and do not may |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 3 1. The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and include the accounts of Milestone Scientific and its wholly owned and majority owned subsidiaries, including, Wand Dental (wholly owned), Milestone Advanced Cosmetic (majority owned), Milestone Education (wholly owned) and Milestone Medical (majority owned). All significant, intra-entity transactions and balances have been eliminated in consolidation. 2. The unaudited condensed consolidated financial statements of Milestone Scientific have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information with the instructions for Form 10Q 8 X. not not may December 31, 2018, 10 3. Certain reclassifications have been made to the 2018 2019 no 4. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, and cash flow assumptions regarding evaluations for impairment of long-lived assets and going concern considerations, valuation of derivative liabilities, and valuation allowances on deferred tax assets. Actual results could differ from those estimates . 5. Under ASC 606, 606, five i. identification of the promised goods or services in the contract; ii. determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; iii. measurement of the transaction price, including the constraint on variable consideration; iv. allocation of the transaction price to the performance obligations based on estimated selling prices; and v. recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The Company derives its revenues from the sale of its products, primarily dental instruments, handpieces, and other related products. The Company sells its products through a global distribution network that includes both exclusive and non-exclusive distribution agreements with related and third Revenue from product sales is recognized upon transfer of control of a product to a customer, generally upon date of shipment. For certain arrangements where the shipping terms are FOB destination, revenue is recognized upon delivery. The Company has no Sales Returns The Company records allowances for product returns as a reduction of revenue at the time product sales are recorded. Several factors are considered in determining whether an allowance for product returns is required, including the customers’ return rights and the Company’s historical experience with returns and the amount of product in the distribution channel not may Financing and Payment Our payment terms differ by geography and customer, but payment is generally required within 90 Disaggregation of Revenue See Note 10 6. A variable interest entity ("VIE") is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity's economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. If the Company determines that it has operating power and the obligation to absorb losses or receive benefits, Milestone Scientific consolidates the VIE as the primary beneficiary. Milestone Scientific’s involvement constitutes power that is most significant to the entity when it has unconstrained decision-making ability over key operational functions within the entity. Because Milestone Scientific has a variable interest in Milestone China, it considered the guidance in ASC 810, ● Power Criterion: The power to direct the activities that most significantly impact the entity’s economic performance; and ● Losses/Benefits Criterion: The obligation to absorb losses that could potentially be significant or the right to receive benefits that could potentially be significant to the VIE Milestone Scientific does not not not 810. not 6. 7. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three 8. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the inability of its customers to make payments on amounts billed. Most credit sales are due within 90 September 30, 2019 December 31, 2018, $10,000. 9 . Inventories Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first September 30, 2019 December 31, 2018, 752 ,000 $763,000, 10. Investments in which Milestone Scientific can exercise significant influence, but do not 11. Equipment is recorded at cost, less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets, which range from two seven 12. Patents are recorded at cost to prepare and file the applicable documents with the US Patent Office, or internationally with the applicable governmental office in the respective country. The costs related to these patents are being amortized using the straight--line method over the estimated useful life of the patent. Patents and other developed technology acquired from another business entity are amortized over the remaining estimated useful life of the patent. 13. Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not ● significant under performance relative to expected historical or projected future operating results; ● significant changes in the manner of our use of the acquired assets or the strategy for our overall business; ● significant negative industry or economic trends; and ● significant technological changes, which would render the technology obsolete. Recoverability of assets that will continue to be used in the Company's operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. 14. Research and development costs, which consist principally of new product development costs payable to third 15. Milestone Scientific accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized At September 30, 2019 December 31, 2018, no No 2015, 2016, 2017, 2018 16. Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we applied the two May 2019 – 8 two two not not The Company did not 5,004,415 6,703,553 September 30, 2019 December 31, 2018, two not not 17. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market at the measurement date (exit price). We are required to classify fair value measurements in one ● Level 1 ● Level 2 1 ● Level 3 Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of an input to the fair value measurement requires judgment and may The following table provides the carrying value and fair value of the Company’s financial assets or liabilities (see Note 8 September 30, 2019. Carrying Value Level 1 Level 2 Level 3 Derivative Warrants $ 1,016,639 - - $ 1,016,639 Shares to be issued-liability 2,199,488 2,199,488 - - Total September 30, 2019 $ 3,216,127 $ 2,199,488 $ - $ 1,016,639 The following additional disclosures relate to the changes in fair value of the Company’s Level 3 nine September 30, 2019 : September 30, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note 8) 376,497 Change in fair value of derivative liability 674,792 Exercise of liability classified warrants (34,650 ) Balance at end of period $ 1,016,639 The Company had no December 31, 2018. 18. The Company does not 815, 8. 19. Share-based payments to employees, including grants of employee stock options, is recognized in the condensed consolidated statements of operations over the service period, as an operating expense, based on the grant-date fair values. 20. On January 1, 2019, No. 2016 02, 842 2016 02 2018 11, 840, not In adopting the new standard, the Company elected to utilize the available package of practical expedients permitted under the transition guidance, which does not three $166,292 not 842 13 On November 28, 2018, 2018 13, 820 820. 1 2 3 3 2018 13 December 15, 2019, 2018 13. In June 2016, 2016 13, 326 January 15, 2020. |
Note 4 - Inventories
Note 4 - Inventories | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4 Inventories consist of the following: September 30, 2019 December 31, 2018 Dental finished goods, net $ 1,338,193 $ 1,609,000 Medical finished goods, net 196,958 188,133 Component parts and other materials 81,911 123,918 Total inventories $ 1,617,062 $ 1,921,051 At September 30, 2019 December 31, 2018, $450,039 $454,183, $302,073 $309,196, |
Note 5 - Advances on Contracts
Note 5 - Advances on Contracts | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Advances to Contract Manufacturer [Text Block] | NOTE 5 The advances on contracts represent funding of future STA, Epidural instruments, and epidural replacements parts. The balance of the advances as of September 30, 2019 December 31, 2018 $628,000 $649,000 |
Note 6 - Investment in and Tran
Note 6 - Investment in and Transactions with Unconsolidated Subsidiaries | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 6 Milestone China Ltd. Ownership In June 2014, $1 772 40% Related Party Transactions Milestone China is Milestone Scientific’s exclusive distributor in China. During 2017 2018, 2018 $2.8 $200,000 July 2018 November 2018 $1,425,000 December 2018. $950,000 $1.8 $1.25 $1.25 fourth 2018. Milestone Scientific recognized revenue associated with sales to Milestone China and it’s agents of zero $100,000 three nine September 30, 2019, $300,000 three nine September 30, 2018. Gross Profit Deferral Due to timing differences of when the inventory sold to Milestone China is recognized and when Milestone China sells the acquired inventory to third 323 40% third At September 30, 2019 December 31, 2018 , $372,700 $421,800, three nine September 30, 2019, $0 $49,100 third three nine September 30, 2018, $143,242, $258,616 third Equity Method Disclosures At September 30, 2019 December 31, 2018, $0. September 30, 2019 December 31, 2018, $4,361,103 $3,380,388, The following table includes summarized financial information (unaudited) of Milestone China: September 30, 2019 December 31, 2018 Assets: (unaudited) (unaudited) Current assets $ 14,186,280 $ 10,587,648 Non-current assets 4,756,043 4,603,845 Total assets: $ 18,942,323 $ 15,191,493 Liabilities: Current liabilities $ 23,477,542 $ 17,696,033 Stockholders' equity (deficit) (4,535,219 ) (2,504,900 ) Total liabilities and stockholders’ deficit $ 18,942,323 $ 15,191,133 For the three months ended September 30, 2019 For the three months ended September 30, 2018 For the nine months ended September 30, 2019 For the nine months ended September 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Net sales $ 678,140 $ 1,710,473 $ 2,431,942 $ 3,795,507 Cost of goods sold 423,948 789,957 983,348 1,888,409 Gross profit 254,192 920,516 1,448,594 1,907,098 Other expenses (598,324 ) (1,371,085 ) (3,900,382 ) (3,742,737 ) Net loss $ (344,132 ) $ (450,569 ) $ (2,451,788 ) $ (1,835,639 ) |
Note 7 - Patents
Note 7 - Patents | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 7 September 30, 2019 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (982,349 ) $ 395,514 Total $ 1,377,863 $ - $ (982,349 ) $ 395,514 December 31, 2018 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (942,590 ) $ 435,273 Epidural-Apad acquired patents 2,639,647 (1,539,794 ) (1,099,853 ) - Total $ 4,017,510 $ (1,539,794 ) $ (2,042,443 ) $ 435,273 Patents are amortized utilizing the straight-line method over estimated useful lives ranging from 3 20 $13,000 $40,000 three nine September 30, 2019, $332,000 $801,000 three nine September 30, 2018, During 2018, 2017 not $1.5 |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8— PUBLIC OFFERING AND PRIVATE PLACEMENT In February 2019, $2.0 5,715,000 1,428,750 5 $0.50 $198,000 567,400 141,850 Also, in February 2019, $250,000 714,286 178,571 Bp4 Bp4’s 5 $0.50 WARRANTS The following table summarizes information about shares issuable under warrants outstanding at September 30, 2019 : Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2019 1,592,775 $ 2.55 $ 0.21 - Issued 1,749,171 $ 0.50 $ 4.35 560,199 Exercised (57,750 ) $ 0.50 - - Expired or cancelled - - - - Outstanding and exercisable at September 30, 2019 3,284,196 $ 1.49 $ 2.30 560,199 See below for shares and warrants issued in excess of authorized shares for 2019 PREFERRED STOCK In May 2014, $10 $3 two million $1.50 $7 7,000 $1,000 $2.545, May 14, 2019. These shares were mandatory convertible on May 14, 2019, $2.54 $1.50 not $3.15 On May 14, 2019, $1.17 5,982,906 SHARES TO BE ISSUED As of September 30, 2019, 2,294,734 December 31, 2018, 1,908,813 As of September 30, 2019 December 31, 2018, 351,612 561,752 See below for shares and warrants issued in excess of authorized shares for 2019 SHARES AND WARRANTS IN EXCESS OF AUTHORIZED SHARES As a result of the shares and warrants issued in the public and private offerings as well as other issuance of common stock during 2019, not 5 ,850,000 2019 2016 The fair value of the warrants is determined using a Black-Scholes option pricing model. The following assumptions were used to value the warrants at the reclassification to liability date: 2016 Warrants 2019 Warrants Fair Value of Common Stock $.36-$.83 $ 0.33 Expected Term .2-.5 years 4.9 years Volatility 86%-100% 83 % Dividend yield 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 Risk-free interest rate 1.88%-2.09% 2.30 % Weighted average fair value of warrants granted $ - $ 0.19 Number of shares underlying warrants granted 1,512,067 1,749,171 On the date of issuance and reclassification the fair value of the warrants was approximately $376,000. As these warrants are liability-classified, they were revalued at September 30, 2019 2016 Warrants 2019 Warrants Fair Value of Common Stock $ 0.83 $ 0.08 Expected Term 0.2 years 4.4 years Volatility 86 % 86 % Dividend yield 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 Risk-free interest rate 1.88 % 1.55 % Weighted average fair value of warrants granted $ - $ 0.61 Number of shares underlying warrants granted 1,512,067 1,691,421 As of September 30, 2019 $1,017,000. three nine September 30, 2019 $680,542 $674,792, Additionally, approximately 2.6 $0.83 September 30, 2019 ) three nine September 30, 2019 $1.2 $2.2 September 30 , 2019. The Company plans to seek shareholder approval to increase the number of authorized shares of Common Stock at the next Shareholder’s meeting, which has been scheduled for December 17, 2019. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9 Due to Milestone Scientific's history of operating losses, full valuation allowances have been provided for all of Milestone Scientific's deferred tax assets at September 30, 2019 December 31, 2018 The utilization of Milestone Scientific's net operating losses may 382 may |
Note 10 - Segment and Geographi
Note 10 - Segment and Geographic Data | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Product Sales and Significant Customers and Vendors Disclosure [Text Block] | NOTE 10 We conduct our business through two Three months ended September 30 Nine months ended September 30 Net Sales: 2019 2018 2019 2018 Dental $ 1,884,321 $ 1,622,246 $ 6,042,580 $ 5,780,251 Medical 15,500 - 31,000 76,100 Total net sales $ 1,899,821 $ 1,622,246 $ 6,073,580 $ 5,856,351 Operating Income (Loss): 2019 2018 2019 2018 Dental $ 644,650 $ (893,148 ) $ 1,766,087 $ 119,613 Medical (554,843 ) (454,306 ) (1,711,184 ) (2,008,852 ) Corporate (1,036,541 ) (3,200,126 ) (2,927,655 ) (6,084,685 ) Total operating loss $ (946,734 ) $ (4,547,580 ) $ (2,872,752 ) $ (7,973,924 ) Depreciation and Amortization: 2019 2018 2019 2018 Dental $ 3,950 $ 3,889 $ 11,875 $ 12,133 Medical 2,424 2,530 7,424 21,884 Corporate 19,044 338,565 57,620 821,084 Total depreciation and amortization $ 25,418 $ 344,984 $ 76,919 $ 855,101 Income (loss) before taxes and equity in earnings of affiliates: 2019 2018 2019 2018 Dental $ 645,442 $ (959,095 ) $ 1,765,475 $ 125,734 Medical (556,969 ) (454,906 ) (1,713,362 ) (2,010,595 ) Corporate (2,937,140 ) (3,133,819 ) (4,777,693 ) (6,088,167 ) Total loss before taxes and equity in earnings of affiliate $ (2,848,667 ) $ (4,547,820 ) $ (4,725,580 ) $ (7,973,028 ) Total Assets: September 30, 2019 December 31, 2018 Dental $ 4,745,889 $ 5,169,944 Medical 513,000 328,208 Corporate 983,631 902,816 Total assets $ 6,242,520 $ 6,400,968 The following table presents information about our operations by geographic area for the three nine September 30, 2019 2018. Three months ended September 30 Nine months ended September 30 Domestic-US & Canada 2019 2018 2019 2018 Devices $ 216,076 $ 119,190 $ 486,360 $ 251,743 Handpieces 812,655 369,027 2,632,199 2,296,533 Other 18,449 21,037 67,728 72,265 Total Domestic US & Canada $ 1,047,180 $ 509,254 $ 3,186,287 $ 2,620,541 International ROW Devices 391,768 $ 299,872 $ 1,016,683 $ 952,390 Handpieces 451,631 506,880 1,714,471 1,924,901 Other 9,242 6,240 56,139 58,519 Total International-ROW $ 852,641 $ 812,992 $ 2,787,293 $ 2,935,810 International-China Devices $ - $ - $ - $ - Handpieces - 300,000 100,000 300,000 Other - - Total International $ - $ 300,000 $ 100,000 $ 300,000 Domestic. International Analysis Domestic-US & Canada $ 1,047,180 $ 509,254 $ 3,186,286 $ 2,620,541 International -ROW 852,641 812,992 2,787,294 2,935,810 International -China - 300,000 100,000 300,000 Total Product Sales $ 1,899,821 $ 1,622,246 $ 6,073,580 $ 5,856,351 |
Note 11 - Concentrations
Note 11 - Concentrations | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 11 Milestone Scientific has informal arrangements with third CompuDent CompuMed September 30, 2019 December 31, 2018. For the three nine September 30, 2019 54% 51%, one three nine September 30, 2018 44% 43%, one two $2.7 91%, 59% 32% September 30, 2019. $3.1 82%, 49% 33% December 31, 2018. September 30, 2019, $1,817,990 $1,817,990 2018, September 30, 2019 . $1,250,928 September 30, 2019 December 31, 2018, 2018. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 12 United Systems Milestone Scientific has a manufacturing agreement with United Systems (whose controlling shareholder, Tom Cheng, is a significant stockholder of Milestone Scientific), the principal manufacturers of its handpieces, pursuant to which it manufactures products under specific purchase orders, but without minimum purchase commitments. Purchases from this manufacturer were approximately $549,000 $ 1.1 three nine September 30, 2019 , $361,727 $900,000 three nine September 30, 2018 September 30, 2019 December 31,2018, $1.1 February 2019, 285,714 $0.35 $100,000 July 2019. During 2018 September 30, 2019 December 31, 2018, $ 342,540 December 31, 2018, 1,000 instruments in June 2018, 2018, $750,000 $686,365, 2.8 $200,000 July 2018 November 2018 $1,425,000 December 2018. $1.25 6. In July 2019, $151,000 recorded an allowance for against inventory during 2018. Milestone China Milestone Scientific owns a 40% 6. Other As of September 30, 2019 December 31, 2018 $222,000 $387,000 As of September 30, 2019 December 31, 2018 $ 20,000 As of September 30, 2019 December 31, 2018 $455,000 280,000 In November 2016, three $ 25,000 $ 75,000 three nine September 30, 2019 2018, In January 2017, twelve twelve $ 20,000 $ 60,000 three nine September 30, 2019 2018, The Director of Clinical Affairs’ royalty fee was approximately $92,831 $291,024 three nine September 30, 2019, $77,907 $284,437 three nine September 30, 2018, $39,000 $117,000 three nine September 30, 2019 $39,000 $146,751 three nine September 30, 2018 September 30, 2019 December 31, 2018, $416,000 $364,000, |
Note 13 - Commitments
Note 13 - Commitments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 13 ( 1 third CompuDent CompuMed January 2018, 1,000 2019. July 2019, September 30, 2019 $1,149,560 1,500 $434,605 September 30, 2019 August 2019, 100 2020. September 30, 2019 $299,000 100 $89,700 ( 2 Operating Leases In June 2015, 6,851 774 January 31, 2020 $12,522. not not not In August 2019, not seven 7 $9,275 April 1, 2020.The $2.00 $11,130 $927.50. The Company identified and assessed the following significant assumptions in recognizing its right-of-use assets and corresponding lease liabilities: ● As the Company’s leases do not ● Since the Company elected to account for each lease component and its associated non-lease components as a single combined lease component, all contract consideration was allocated to the combined lease component. ● The expected lease terms include non-cancellable lease periods. Renewal option periods are not not The components of lease expense as of September 30, 2019 Lease cost Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 39,555 $ 118,664 Total lease cost $ 39,555 $ 118,664 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases - $ 118,664 Right-of-use assets obtained in exchange for new operating lease liabilities - - Weighted-average remaining lease term - operating leases - 0.4 years Weighted-average discount rate - operating leases - 9.2 % Maturities of lease liabilities due under these lease agreements as of September 30, 2019 2019 (excluding the 9 months ended September 30, 2019 ) Operating Leases 2020 $ 39,555 2021 15,976 2022 - 2023 - Thereafter - Total lease payments $ 55,531 Less: interest $ (714 ) Total operating lease liabilities as of September 30, 2019 $ 54,817 Total lease payments presented in the table above excludes legally binding minimum lease payments for operating leases signed for a the Roseland Facility that will commence April 1, 2020. The Company adopted ASU 2016 02 January 1, 2019 December 31, 2018 Total Less than 1 Year 1-3 Years 3-5 Years Operating Lease Obligations $ 175,557 $ 159,138 $ 16,419 $ - ( 3 The technology underlying the Safety Wand® and CompuFlo CompuDent January 1, 2005. 2.5% 5% third 12 |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 14— Since the quarter ended September 30, 2019, 239,629 $0.50 $119,813. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | 1. The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and include the accounts of Milestone Scientific and its wholly owned and majority owned subsidiaries, including, Wand Dental (wholly owned), Milestone Advanced Cosmetic (majority owned), Milestone Education (wholly owned) and Milestone Medical (majority owned). All significant, intra-entity transactions and balances have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | 2. The unaudited condensed consolidated financial statements of Milestone Scientific have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information with the instructions for Form 10Q 8 X. not not may December 31, 2018, 10 |
Reclassification, Policy [Policy Text Block] | 3. Certain reclassifications have been made to the 2018 2019 no |
Use of Estimates, Policy [Policy Text Block] | 4. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, and cash flow assumptions regarding evaluations for impairment of long-lived assets and going concern considerations, valuation of derivative liabilities, and valuation allowances on deferred tax assets. Actual results could differ from those estimates . |
Revenue from Contract with Customer [Policy Text Block] | 5. Under ASC 606, 606, five i. identification of the promised goods or services in the contract; ii. determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; iii. measurement of the transaction price, including the constraint on variable consideration; iv. allocation of the transaction price to the performance obligations based on estimated selling prices; and v. recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The Company derives its revenues from the sale of its products, primarily dental instruments, handpieces, and other related products. The Company sells its products through a global distribution network that includes both exclusive and non-exclusive distribution agreements with related and third Revenue from product sales is recognized upon transfer of control of a product to a customer, generally upon date of shipment. For certain arrangements where the shipping terms are FOB destination, revenue is recognized upon delivery. The Company has no Sales Returns The Company records allowances for product returns as a reduction of revenue at the time product sales are recorded. Several factors are considered in determining whether an allowance for product returns is required, including the customers’ return rights and the Company’s historical experience with returns and the amount of product in the distribution channel not may Financing and Payment Our payment terms differ by geography and customer, but payment is generally required within 90 Disaggregation of Revenue See Note 10 |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | 6. A variable interest entity ("VIE") is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity's economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. If the Company determines that it has operating power and the obligation to absorb losses or receive benefits, Milestone Scientific consolidates the VIE as the primary beneficiary. Milestone Scientific’s involvement constitutes power that is most significant to the entity when it has unconstrained decision-making ability over key operational functions within the entity. Because Milestone Scientific has a variable interest in Milestone China, it considered the guidance in ASC 810, ● Power Criterion: The power to direct the activities that most significantly impact the entity’s economic performance; and ● Losses/Benefits Criterion: The obligation to absorb losses that could potentially be significant or the right to receive benefits that could potentially be significant to the VIE Milestone Scientific does not not not 810. not 6. |
Cash and Cash Equivalents, Policy [Policy Text Block] | 7. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three |
Accounts Receivable [Policy Text Block] | 8. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the inability of its customers to make payments on amounts billed. Most credit sales are due within 90 September 30, 2019 December 31, 2018, $10,000. |
Inventory, Policy [Policy Text Block] | 9 . Inventories Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first September 30, 2019 December 31, 2018, 752 ,000 $763,000, |
Equity Method Investments [Policy Text Block] | 10. Investments in which Milestone Scientific can exercise significant influence, but do not |
Property, Plant and Equipment, Policy [Policy Text Block] | 11. Equipment is recorded at cost, less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets, which range from two seven |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | 12. Patents are recorded at cost to prepare and file the applicable documents with the US Patent Office, or internationally with the applicable governmental office in the respective country. The costs related to these patents are being amortized using the straight--line method over the estimated useful life of the patent. Patents and other developed technology acquired from another business entity are amortized over the remaining estimated useful life of the patent. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | 13. Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not ● significant under performance relative to expected historical or projected future operating results; ● significant changes in the manner of our use of the acquired assets or the strategy for our overall business; ● significant negative industry or economic trends; and ● significant technological changes, which would render the technology obsolete. Recoverability of assets that will continue to be used in the Company's operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. |
Research and Development Expense, Policy [Policy Text Block] | 14. Research and development costs, which consist principally of new product development costs payable to third |
Income Tax, Policy [Policy Text Block] | 15. Milestone Scientific accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized At September 30, 2019 December 31, 2018, no No 2015, 2016, 2017, 2018 |
Earnings Per Share, Policy [Policy Text Block] | 16. Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we applied the two May 2019 – 8 two two not not The Company did not 5,004,415 6,703,553 September 30, 2019 December 31, 2018, two not not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | 17. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market at the measurement date (exit price). We are required to classify fair value measurements in one ● Level 1 ● Level 2 1 ● Level 3 Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of an input to the fair value measurement requires judgment and may The following table provides the carrying value and fair value of the Company’s financial assets or liabilities (see Note 8 September 30, 2019. Carrying Value Level 1 Level 2 Level 3 Derivative Warrants $ 1,016,639 - - $ 1,016,639 Shares to be issued-liability 2,199,488 2,199,488 - - Total September 30, 2019 $ 3,216,127 $ 2,199,488 $ - $ 1,016,639 The following additional disclosures relate to the changes in fair value of the Company’s Level 3 nine September 30, 2019 : September 30, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note 8) 376,497 Change in fair value of derivative liability 674,792 Exercise of liability classified warrants (34,650 ) Balance at end of period $ 1,016,639 The Company had no December 31, 2018. |
Derivatives, Policy [Policy Text Block] | 18. The Company does not 815, 8. |
Share-based Payment Arrangement [Policy Text Block] | 19. Share-based payments to employees, including grants of employee stock options, is recognized in the condensed consolidated statements of operations over the service period, as an operating expense, based on the grant-date fair values. |
New Accounting Pronouncements, Policy [Policy Text Block] | 20. On January 1, 2019, No. 2016 02, 842 2016 02 2018 11, 840, not In adopting the new standard, the Company elected to utilize the available package of practical expedients permitted under the transition guidance, which does not three $166,292 not 842 13 On November 28, 2018, 2018 13, 820 820. 1 2 3 3 2018 13 December 15, 2019, 2018 13. In June 2016, 2016 13, 326 January 15, 2020. |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Carrying Value Level 1 Level 2 Level 3 Derivative Warrants $ 1,016,639 - - $ 1,016,639 Shares to be issued-liability 2,199,488 2,199,488 - - Total September 30, 2019 $ 3,216,127 $ 2,199,488 $ - $ 1,016,639 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | September 30, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note 8) 376,497 Change in fair value of derivative liability 674,792 Exercise of liability classified warrants (34,650 ) Balance at end of period $ 1,016,639 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following: September 30, 2019 December 31, 2018 Dental finished goods, net $ 1,338,193 $ 1,609,000 Medical finished goods, net 196,958 188,133 Component parts and other materials 81,911 123,918 Total inventories $ 1,617,062 $ 1,921,051 |
Note 6 - Investment in and Tr_2
Note 6 - Investment in and Transactions with Unconsolidated Subsidiaries (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | September 30, 2019 December 31, 2018 Assets: (unaudited) (unaudited) Current assets $ 14,186,280 $ 10,587,648 Non-current assets 4,756,043 4,603,845 Total assets: $ 18,942,323 $ 15,191,493 Liabilities: Current liabilities $ 23,477,542 $ 17,696,033 Stockholders' equity (deficit) (4,535,219 ) (2,504,900 ) Total liabilities and stockholders’ deficit $ 18,942,323 $ 15,191,133 For the three months ended September 30, 2019 For the three months ended September 30, 2018 For the nine months ended September 30, 2019 For the nine months ended September 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Net sales $ 678,140 $ 1,710,473 $ 2,431,942 $ 3,795,507 Cost of goods sold 423,948 789,957 983,348 1,888,409 Gross profit 254,192 920,516 1,448,594 1,907,098 Other expenses (598,324 ) (1,371,085 ) (3,900,382 ) (3,742,737 ) Net loss $ (344,132 ) $ (450,569 ) $ (2,451,788 ) $ (1,835,639 ) |
Note 7 - Patents (Tables)
Note 7 - Patents (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | September 30, 2019 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (982,349 ) $ 395,514 Total $ 1,377,863 $ - $ (982,349 ) $ 395,514 December 31, 2018 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (942,590 ) $ 435,273 Epidural-Apad acquired patents 2,639,647 (1,539,794 ) (1,099,853 ) - Total $ 4,017,510 $ (1,539,794 ) $ (2,042,443 ) $ 435,273 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2019 1,592,775 $ 2.55 $ 0.21 - Issued 1,749,171 $ 0.50 $ 4.35 560,199 Exercised (57,750 ) $ 0.50 - - Expired or cancelled - - - - Outstanding and exercisable at September 30, 2019 3,284,196 $ 1.49 $ 2.30 560,199 |
Schedule of Warrant or Right Outstanding, Valuation Assumptions [Table Text Block] | 2016 Warrants 2019 Warrants Fair Value of Common Stock $.36-$.83 $ 0.33 Expected Term .2-.5 years 4.9 years Volatility 86%-100% 83 % Dividend yield 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 Risk-free interest rate 1.88%-2.09% 2.30 % Weighted average fair value of warrants granted $ - $ 0.19 Number of shares underlying warrants granted 1,512,067 1,749,171 |
Warrant Liabilities [Member] | |
Notes Tables | |
Schedule of Warrant or Right Outstanding, Valuation Assumptions [Table Text Block] | 2016 Warrants 2019 Warrants Fair Value of Common Stock $ 0.83 $ 0.08 Expected Term 0.2 years 4.4 years Volatility 86 % 86 % Dividend yield 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 Risk-free interest rate 1.88 % 1.55 % Weighted average fair value of warrants granted $ - $ 0.61 Number of shares underlying warrants granted 1,512,067 1,691,421 |
Note 10 - Segment and Geograp_2
Note 10 - Segment and Geographic Data (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended September 30 Nine months ended September 30 Net Sales: 2019 2018 2019 2018 Dental $ 1,884,321 $ 1,622,246 $ 6,042,580 $ 5,780,251 Medical 15,500 - 31,000 76,100 Total net sales $ 1,899,821 $ 1,622,246 $ 6,073,580 $ 5,856,351 Operating Income (Loss): 2019 2018 2019 2018 Dental $ 644,650 $ (893,148 ) $ 1,766,087 $ 119,613 Medical (554,843 ) (454,306 ) (1,711,184 ) (2,008,852 ) Corporate (1,036,541 ) (3,200,126 ) (2,927,655 ) (6,084,685 ) Total operating loss $ (946,734 ) $ (4,547,580 ) $ (2,872,752 ) $ (7,973,924 ) Depreciation and Amortization: 2019 2018 2019 2018 Dental $ 3,950 $ 3,889 $ 11,875 $ 12,133 Medical 2,424 2,530 7,424 21,884 Corporate 19,044 338,565 57,620 821,084 Total depreciation and amortization $ 25,418 $ 344,984 $ 76,919 $ 855,101 Income (loss) before taxes and equity in earnings of affiliates: 2019 2018 2019 2018 Dental $ 645,442 $ (959,095 ) $ 1,765,475 $ 125,734 Medical (556,969 ) (454,906 ) (1,713,362 ) (2,010,595 ) Corporate (2,937,140 ) (3,133,819 ) (4,777,693 ) (6,088,167 ) Total loss before taxes and equity in earnings of affiliate $ (2,848,667 ) $ (4,547,820 ) $ (4,725,580 ) $ (7,973,028 ) Total Assets: September 30, 2019 December 31, 2018 Dental $ 4,745,889 $ 5,169,944 Medical 513,000 328,208 Corporate 983,631 902,816 Total assets $ 6,242,520 $ 6,400,968 |
Sales by Product and by Geographical Region [Table Text Block] | Three months ended September 30 Nine months ended September 30 Domestic-US & Canada 2019 2018 2019 2018 Devices $ 216,076 $ 119,190 $ 486,360 $ 251,743 Handpieces 812,655 369,027 2,632,199 2,296,533 Other 18,449 21,037 67,728 72,265 Total Domestic US & Canada $ 1,047,180 $ 509,254 $ 3,186,287 $ 2,620,541 International ROW Devices 391,768 $ 299,872 $ 1,016,683 $ 952,390 Handpieces 451,631 506,880 1,714,471 1,924,901 Other 9,242 6,240 56,139 58,519 Total International-ROW $ 852,641 $ 812,992 $ 2,787,293 $ 2,935,810 International-China Devices $ - $ - $ - $ - Handpieces - 300,000 100,000 300,000 Other - - Total International $ - $ 300,000 $ 100,000 $ 300,000 Domestic. International Analysis Domestic-US & Canada $ 1,047,180 $ 509,254 $ 3,186,286 $ 2,620,541 International -ROW 852,641 812,992 2,787,294 2,935,810 International -China - 300,000 100,000 300,000 Total Product Sales $ 1,899,821 $ 1,622,246 $ 6,073,580 $ 5,856,351 |
Note 13 - Commitments (Tables)
Note 13 - Commitments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lease, Cost and Other Information [Table Text Block] | Lease cost Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 39,555 $ 118,664 Total lease cost $ 39,555 $ 118,664 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases - $ 118,664 Right-of-use assets obtained in exchange for new operating lease liabilities - - Weighted-average remaining lease term - operating leases - 0.4 years Weighted-average discount rate - operating leases - 9.2 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2019 (excluding the 9 months ended September 30, 2019 ) Operating Leases 2020 $ 39,555 2021 15,976 2022 - 2023 - Thereafter - Total lease payments $ 55,531 Less: interest $ (714 ) Total operating lease liabilities as of September 30, 2019 $ 54,817 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Total Less than 1 Year 1-3 Years 3-5 Years Operating Lease Obligations $ 175,557 $ 159,138 $ 16,419 $ - |
Note 1 - Organization and Bus_2
Note 1 - Organization and Business (Details Textual) | 1 Months Ended | 9 Months Ended | ||||
Mar. 31, 2019USD ($)shares | Feb. 28, 2019USD ($)$ / sharesshares | May 31, 2014USD ($)shares | Sep. 30, 2019USD ($)$ / shares | Sep. 30, 2018USD ($) | Dec. 31, 2018$ / shares | |
Number of Countries in which Entity Operates | 60 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.49 | $ 2.55 | ||||
Proceeds from Issuance of Private Placement | $ | $ 250,000 | $ 10,000,000 | $ 250,000 | |||
Warrants, Public Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,428,750 | |||||
Warrants and Rights Outstanding, Term | 5 years | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.50 | |||||
Underwrite Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 141,850 | 141,850 | ||||
Warrants, Private Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 178,571 | |||||
Warrants and Rights Outstanding, Term | 5 years | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.50 | |||||
Public Offering [Member] | ||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,000,000 | |||||
Stock Issued During Period, Shares, New Issues | 5,715,000 | |||||
Proceeds from Stock Options Exercised | $ | $ 198,000 | $ 198,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 567,400 | 567,400 | ||||
Private Placement [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 714,286 | 2,000,000 |
Note 2 - Going Concern and Li_2
Note 2 - Going Concern and Liquidity (Details Textual) $ in Millions | Sep. 30, 2019USD ($) |
Cash, Ending Balance | $ 1.7 |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | Jan. 01, 2019 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10,000 | $ 10,000 | |
Inventory Valuation Reserves, Ending Balance | 752,000 | 763,000 | |
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | 0 | |
Operating Lease, Right-of-Use Asset | $ 54,818 | $ 166,292 | |
Open Tax Year | 2015 2016 2017 | ||
Operating Lease, Liability, Total | $ 54,817 | $ 166,292 | |
Options and Warrants [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6,703,553 | ||
Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 7 years |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative liability | $ 3,216,127 | |
Fair Value, Recurring [Member] | ||
Derivative liability | 3,216,127 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability | 2,199,488 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability | 1,016,639 | |
Derivative Warrants [Member] | Fair Value, Recurring [Member] | ||
Derivative liability | 1,016,639 | |
Derivative Warrants [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability | ||
Derivative Warrants [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability | ||
Derivative Warrants [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability | 1,016,639 | |
Stock To be Issued [Member] | Fair Value, Recurring [Member] | ||
Derivative liability | 2,199,488 | |
Stock To be Issued [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability | 2,199,488 | |
Stock To be Issued [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability | ||
Stock To be Issued [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability |
Note 3 - Summary of Significa_5
Note 3 - Summary of Significant Accounting Policies - Fair Value of Level 3 Instruments (Details) | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Balance at end of period | $ 1,016,639 |
Derivative Financial Instruments, Liabilities [Member] | |
Balance at beginning of year | |
Warrants issued in connection with public offering (See Note 8) | 376,497 |
Change in fair value of derivative liability | (674,792) |
Exercise of liability classified warrants | $ (34,650) |
Note 4 - Inventories (Details T
Note 4 - Inventories (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Inventory Valuation Reserves, Ending Balance | $ 752,000 | $ 763,000 |
Slow Moving Medical Finished Goods [Member] | ||
Inventory Valuation Reserves, Ending Balance | 450,039 | 454,183 |
Slow Moving Dental Finished Goods [Member] | ||
Inventory Valuation Reserves, Ending Balance | $ 302,073 | $ 309,196 |
Note 4 - Inventories - Summary
Note 4 - Inventories - Summary of Inventories (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Component parts and other materials | $ 81,911 | $ 123,918 |
Total inventories | 1,617,062 | 1,921,051 |
Dental Segment [Member] | ||
Finished goods, net | 1,338,193 | 1,609,000 |
Medical Segment [Member] | ||
Finished goods, net | $ 196,958 | $ 188,133 |
Note 5 - Advances on Contracts
Note 5 - Advances on Contracts (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Advances on Inventory Purchases | $ 628,494 | $ 648,783 |
Note 6 - Investment in and Tr_3
Note 6 - Investment in and Transactions with Unconsolidated Subsidiaries (Details Textual) | 1 Months Ended | 3 Months Ended | 5 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Jun. 30, 2014USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Nov. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10,000 | $ 10,000 | $ 10,000 | $ 10,000 | $ 10,000 | ||||
Income (Loss) from Equity Method Investments, Total | 49,100 | $ 258,616 | |||||||
Milestone China [Member] | |||||||||
Equity Method Investments | 0 | $ 1,000,000 | 0 | 0 | 0 | 0 | |||
Long-term Purchase Commitment, Minimum Quantity Required | 772 | ||||||||
Equity Method Investment, Ownership Percentage | 40.00% | ||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 2,800,000 | 2,800,000 | 2,800,000 | ||||||
Account Receivables, Related Party, Monthly Payment | $ 200,000 | ||||||||
Accounts Receivable, Related Party, Balloon Payment to be Paid | 1,425,000 | ||||||||
Proceeds from Collection of Finance Receivables | 950,000 | ||||||||
Contract With Customer Liability Before Reserve Adjustment | 1,800,000 | 1,800,000 | 1,800,000 | ||||||
Capitalized Contract Before Reserve Adjustment | 1,250,000 | 1,250,000 | 1,250,000 | ||||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 1,250,000 | 1,250,000 | 1,250,000 | ||||||
Contract with Customer, Liability, Revenue Recognized | 0 | $ 300,000 | $ 100,000 | 300,000 | |||||
Equity Method Investment, Deferred Intercompany Profit (Loss), Percentage | 40.00% | ||||||||
Income (Loss) from Equity Method Investments, Total | 0 | $ 143,242 | $ 49,100 | $ 258,616 | |||||
Cost-method Investments, Realized Losses | 4,361,103 | 3,380,388 | |||||||
Milestone China [Member] | Accounts Receivable from Related Parties [Member] | |||||||||
Equity Method Investment, Deferred Intercompany Profit (Loss) | $ 421,800 | $ 372,700 | $ 421,800 | $ 372,700 | $ 421,800 |
Note 6 - Investment in and Tr_4
Note 6 - Investment in and Transactions with Unconsolidated Subsidiaries - Summarized Financial Information (Unaudited) of Milestone China (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Total assets: | $ 18,942,323 | $ 18,942,323 | $ 15,191,493 | ||
Current liabilities | 23,477,542 | 23,477,542 | 17,696,033 | ||
Stockholders' equity (deficit) | (4,535,219) | (4,535,219) | (2,504,900) | ||
Total liabilities and stockholders’ deficit | 18,942,323 | 18,942,323 | 15,191,133 | ||
Net sales | 678,140 | $ 1,710,473 | 2,431,942 | $ 3,795,507 | |
Cost of goods sold | 423,948 | 789,957 | 983,348 | 1,888,409 | |
Gross profit | 254,192 | 920,516 | 1,448,594 | 1,907,098 | |
Other expenses | (598,324) | (1,371,085) | (3,900,382) | (3,742,737) | |
Net loss | (344,132) | $ (450,569) | (2,451,788) | $ (1,835,639) | |
Milestone China [Member] | |||||
Current assets | 14,186,280 | 14,186,280 | 10,587,648 | ||
Non-current assets | $ 4,756,043 | $ 4,756,043 | $ 4,603,845 |
Note 7 - Patents (Details Textu
Note 7 - Patents (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Amortization of Intangible Assets, Total | $ 39,760 | $ 801,426 | |||
Impairment of Intangible Assets, Finite-lived | $ 1,539,794 | 1,539,794 | $ 1,500,000 | ||
Patents [Member] | |||||
Amortization of Intangible Assets, Total | $ 13,000 | $ 332,000 | $ 40,000 | $ 801,000 | |
Patents [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||
Patents [Member] | Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 20 years |
Note 7 - Patents - Summary of P
Note 7 - Patents - Summary of Patents (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Patents, cost | $ 1,377,863 | $ 4,017,510 |
Patents, impairment | (1,539,794) | |
Patents, accumulated amortization | (982,349) | (2,042,443) |
Patents, net | 395,514 | 435,273 |
Foundation Intellectual Property Patents [Member] | ||
Patents, cost | 1,377,863 | 1,377,863 |
Patents, impairment | ||
Patents, accumulated amortization | (982,349) | (942,590) |
Patents, net | $ 395,514 | 435,273 |
Epidural-Apad Patents [Member] | ||
Patents, cost | 2,639,647 | |
Patents, impairment | (1,539,794) | |
Patents, accumulated amortization | (1,099,853) | |
Patents, net |
Note 8 - Stockholders' Equity_2
Note 8 - Stockholders' Equity (Details Textual) - USD ($) | May 14, 2019 | Mar. 31, 2019 | Feb. 28, 2019 | May 31, 2014 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.49 | $ 1.49 | $ 2.55 | |||||
Proceeds from Issuance of Private Placement | $ 250,000 | $ 10,000,000 | $ 250,000 | |||||
Proceeds from Issuance of Common Stock | $ 28,875 | |||||||
Equity Securities Issued | 5,850,000 | 5,850,000 | ||||||
Derivative Liability, Total | $ 3,216,127 | $ 3,216,127 | ||||||
Common Stock, Shares, To be Issued | 2.6 | 2.6 | ||||||
Share Price | $ 0.83 | $ 0.83 | ||||||
Gain (Loss) on Liability Classified Shares to Be Issued | $ 1,200,000 | $ 2,200,000 | ||||||
Warrant [Member] | ||||||||
Derivative Liability, Total | 1,017,000 | 1,017,000 | $ 376,000 | |||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 680,542 | $ 674,792 | ||||||
Chief Executive Officer, Chief Financial Officer and Employees [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance | 2,294,734 | 2,294,734 | 1,908,813 | |||||
Non-Employees [Member] | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 351,612 | 351,612 | 561,752 | |||||
Preferred Stock Converted to Common Stock [Member] | ||||||||
Conversion of Stock, Conversion Price | $ 1.17 | |||||||
Conversion of Stock, Shares Issued | 5,982,906 | |||||||
Warrants, Public Offering [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,428,750 | |||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||||||
Underwrite Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 141,850 | 141,850 | ||||||
Warrants, Private Offering [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 178,571 | |||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||||||
Public Offering [Member] | ||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,000,000 | |||||||
Stock Issued During Period, Shares, New Issues | 5,715,000 | |||||||
Proceeds from Stock Options Exercised | $ 198,000 | $ 198,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 567,400 | 567,400 | ||||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 714,286 | 2,000,000 | ||||||
Proceeds from Issuance of Common Stock | $ 3,000,000 | |||||||
Shares Issued, Price Per Share | $ 1.50 | |||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 7,000,000 | |||||||
Private Placement [Member] | Series A Convertible Preferred Stock [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 7,000 | |||||||
Shares Issued, Price Per Share | $ 1,000 | |||||||
Preferred Stock, Redemption Price Per Share | 2.545 | |||||||
Private Placement [Member] | Series A Convertible Preferred Stock [Member] | Conversion Price if Common Stock Not Trade at 3.15 [Member] | ||||||||
Preferred Stock, Redemption Price Per Share | 1.50 | |||||||
Convertible Preferred Stock, Shares Price Trigger | $ 3.15 |
Note 8 - Stockholders' Equity -
Note 8 - Stockholders' Equity - Warrants (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Outstanding, number of shares (in shares) | 1,592,775 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.55 | |
Outstanding, weighted average remaining life (Year) | 2 years 109 days | 76 days |
Outstanding, intrinsic value | ||
Issued, number of shares (in shares) | 1,749,171 | |
Issued, weighted average exercise price (in dollars per share) | $ 0.50 | |
Issued, weighted average remaining life (Year) | 4 years 127 days | |
Issued, intrinsic value | $ 560,199 | |
Exercised, number of shares (in shares) | (57,750) | |
Exercised, weighted average exercise price (in dollars per share) | $ 0.50 | |
Expired or cancelled, number of shares (in shares) | ||
Expired or cancelled, weighted average exercise price (in dollars per share) | ||
Outstanding , number of shares (in shares) | 3,284,196 | 1,592,775 |
Outstanding , weighted average exercise price (in dollars per share) | $ 1.49 | $ 2.55 |
Outstanding, intrinsic value | $ 560,199 |
Note 8 - Stockholders' Equity_3
Note 8 - Stockholders' Equity - Assumptions Used to Value Warrants at Grant Date (Details) | Sep. 30, 2019 |
Measurement Input, Share Price [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.33 |
Measurement Input, Share Price [Member] | Minimum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.36 |
Measurement Input, Share Price [Member] | Maximum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.83 |
Measurement Input, Expected Term [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 4.9 |
Measurement Input, Expected Term [Member] | Minimum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.2 |
Measurement Input, Expected Term [Member] | Maximum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.5 |
Measurement Input, Price Volatility [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.83 |
Measurement Input, Price Volatility [Member] | Minimum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.86 |
Measurement Input, Price Volatility [Member] | Maximum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 1 |
Measurement Input, Expected Dividend Rate [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0 |
Measurement Input, Expected Dividend Rate [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0 |
Measurement Input, Exercise Price [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 2.55 |
Measurement Input, Exercise Price [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.5 |
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.023 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.0188 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.0209 |
Measurement Input, Weighted Average of Shares Granted, Fair Value [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.19 |
Measurement Input, Number of Shares Granted [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 1,512,067 |
Measurement Input, Number of Shares Granted [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 1,749,171 |
Note 8 - Stockholders' Equity_4
Note 8 - Stockholders' Equity - Assumption Used to Value Liability Classified Warrants at Grant Date (Details) | 9 Months Ended |
Sep. 30, 2019$ / sharesshares | |
Number of shares underlying warrants granted (in shares) | shares | 1,749,171 |
The 2016 Warrants [Member] | |
Number of shares underlying warrants granted (in shares) | shares | 1,512,067 |
The 2019 Warrants [Member] | |
Number of shares underlying warrants granted (in shares) | shares | 1,691,421 |
Measurement Input, Share Price [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.33 |
Measurement Input, Share Price [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.83 |
Measurement Input, Share Price [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.08 |
Measurement Input, Expected Term [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 4.9 |
Measurement Input, Expected Term [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.2 |
Measurement Input, Expected Term [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 4.4 |
Measurement Input, Price Volatility [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.83 |
Measurement Input, Price Volatility [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.86 |
Measurement Input, Price Volatility [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.86 |
Measurement Input, Expected Dividend Rate [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0 |
Measurement Input, Expected Dividend Rate [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0 |
Measurement Input, Expected Dividend Rate [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0 |
Measurement Input, Expected Dividend Rate [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0 |
Measurement Input, Exercise Price [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 2.55 |
Measurement Input, Exercise Price [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.5 |
Measurement Input, Exercise Price [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 2.55 |
Measurement Input, Exercise Price [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.5 |
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.023 |
Measurement Input, Risk Free Interest Rate [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | 0.0188 |
Measurement Input, Risk Free Interest Rate [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.0155 |
Measurement Input, Weighted Average of Shares Granted, Fair Value [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.19 |
Measurement Input, Weighted Average of Shares Granted, Fair Value [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | |
Warrants, measurement input | |
Measurement Input, Weighted Average of Shares Granted, Fair Value [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | |
Warrants, measurement input | 0.61 |
Note 10 - Segment and Geograp_3
Note 10 - Segment and Geographic Data (Details Textual) | 9 Months Ended |
Sep. 30, 2019 | |
Number of Reportable Segments | 2 |
Note 10 - Segment and Geograp_4
Note 10 - Segment and Geographic Data - Summary by Reporting and Operating Segments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Product sales, net | $ 1,899,821 | $ 1,622,246 | $ 6,073,580 | $ 5,856,351 | |
Operating Income (Loss) | (946,734) | (4,547,581) | (2,872,749) | (7,973,924) | |
Depreciation and Amortization | 25,418 | 344,984 | 76,919 | 855,101 | |
Income (loss) before taxes and equity in earnings of affiliates | (2,848,667) | (4,547,821) | (4,725,577) | (7,973,028) | |
Dental | 6,242,520 | 6,242,520 | $ 6,400,968 | ||
Corporate, Non-Segment [Member] | |||||
Operating Income (Loss) | (1,036,541) | (3,200,126) | (2,927,655) | (6,084,685) | |
Depreciation and Amortization | 19,044 | 338,565 | 57,620 | 821,084 | |
Income (loss) before taxes and equity in earnings of affiliates | (2,937,140) | (3,133,819) | (4,777,693) | (6,088,167) | |
Dental | 983,631 | 983,631 | 902,816 | ||
Dental Segment [Member] | Operating Segments [Member] | |||||
Product sales, net | 1,884,321 | 1,622,246 | 6,042,580 | 5,780,251 | |
Operating Income (Loss) | 644,650 | (893,148) | 1,766,087 | 119,613 | |
Depreciation and Amortization | 3,950 | 3,889 | 11,875 | 12,133 | |
Income (loss) before taxes and equity in earnings of affiliates | 645,442 | (959,095) | 1,765,475 | 125,734 | |
Dental | 4,745,889 | 4,745,889 | 5,169,944 | ||
Medical Segment [Member] | Operating Segments [Member] | |||||
Product sales, net | 15,500 | 31,000 | 76,100 | ||
Operating Income (Loss) | (554,843) | (454,306) | (1,711,184) | (2,008,852) | |
Depreciation and Amortization | 2,424 | 2,530 | 7,424 | 21,884 | |
Income (loss) before taxes and equity in earnings of affiliates | (556,969) | $ (454,906) | (1,713,362) | $ (2,010,595) | |
Dental | $ 513,000 | $ 513,000 | $ 328,208 |
Note 10 - Segment and Geograp_5
Note 10 - Segment and Geographic Data - Summary of Operations by Geographic Area (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Product sales, net | $ 1,899,821 | $ 1,622,246 | $ 6,073,580 | $ 5,856,351 |
Product sales, net | 1,899,821 | 1,622,246 | 6,073,580 | 5,856,351 |
Domestic [Member] | ||||
Product sales, net | 1,047,180 | 509,254 | 3,186,287 | 2,620,541 |
Product sales, net | 1,047,180 | 509,254 | 3,186,287 | 2,620,541 |
Domestic [Member] | Devices [Member] | ||||
Product sales, net | 216,076 | 119,190 | 486,360 | 251,743 |
Product sales, net | 216,076 | 119,190 | 486,360 | 251,743 |
Domestic [Member] | Handpieces [Member] | ||||
Product sales, net | 812,655 | 369,027 | 2,632,199 | 2,296,533 |
Product sales, net | 812,655 | 369,027 | 2,632,199 | 2,296,533 |
Domestic [Member] | Other Products [Member] | ||||
Product sales, net | 18,449 | 21,037 | 67,728 | 72,265 |
Product sales, net | 18,449 | 21,037 | 67,728 | 72,265 |
Rest of World [Member] | ||||
Product sales, net | 852,641 | 812,992 | 2,787,293 | 2,935,810 |
Product sales, net | 852,641 | 812,992 | 2,787,293 | 2,935,810 |
Rest of World [Member] | Devices [Member] | ||||
Product sales, net | 391,768 | 299,872 | 1,016,683 | 952,390 |
Product sales, net | 391,768 | 299,872 | 1,016,683 | 952,390 |
Rest of World [Member] | Handpieces [Member] | ||||
Product sales, net | 451,631 | 506,880 | 1,714,471 | 1,924,901 |
Product sales, net | 451,631 | 506,880 | 1,714,471 | 1,924,901 |
Rest of World [Member] | Other Products [Member] | ||||
Product sales, net | 9,242 | 6,240 | 56,139 | 58,519 |
Product sales, net | 9,242 | 6,240 | 56,139 | 58,519 |
CHINA | ||||
Product sales, net | 300,000 | 100,000 | 300,000 | |
Product sales, net | 300,000 | 100,000 | 300,000 | |
CHINA | Devices [Member] | ||||
Product sales, net | ||||
Product sales, net | ||||
CHINA | Handpieces [Member] | ||||
Product sales, net | 300,000 | 100,000 | 300,000 | |
Product sales, net | 300,000 | 100,000 | 300,000 | |
CHINA | Other Products [Member] | ||||
Product sales, net | ||||
Product sales, net |
Note 11 - Concentrations (Detai
Note 11 - Concentrations (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018 | Sep. 30, 2019USD ($) | Sep. 30, 2018 | Dec. 31, 2018USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10,000 | $ 10,000 | $ 10,000 | ||
Milestone China [Member] | |||||
Accounts Receivable, before Allowance for Credit Loss | $ 1,817,990 | 1,817,990 | |||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 1,817,990 | ||||
Accounts Receivable, Credit Loss Expense (Reversal) | $ 1,250,928 | $ 1,250,928 | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||
Concentration Risk, Percentage | 44.00% | 43.00% | |||
Number of Customers | 1 | 1 | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 54.00% | 51.00% | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Number of Customers | 2 | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | |||||
Accounts Receivable, before Allowance for Credit Loss | $ 2.70 | $ 2.70 | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Milestone China [Member] | |||||
Concentration Risk, Percentage | 91.00% | 82.00% | |||
Accounts Receivable, before Allowance for Credit Loss | $ 3.10 | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member] | |||||
Concentration Risk, Percentage | 59.00% | 49.00% | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | |||||
Concentration Risk, Percentage | 32.00% | 33.00% |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 5 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Feb. 28, 2019 | Dec. 31, 2018 | Jan. 31, 2017 | Nov. 30, 2016 | Sep. 30, 2019 | Sep. 30, 2018 | Nov. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Jun. 30, 2014 | |
Director of Clinical Affairs [Member] | |||||||||||
Royalty Expense | $ 92,831 | $ 77,907 | $ 291,024 | $ 284,437 | |||||||
Professional Fees | 39,000 | 39,000 | 117,000 | 146,751 | |||||||
Accounts Payable, Related Parties | $ 364,000 | 416,000 | 416,000 | $ 364,000 | |||||||
Milestone China [Member] | |||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 2,800,000 | 2,800,000 | |||||||||
Account Receivables, Related Party, Monthly Payment | $ 200,000 | ||||||||||
Accounts Receivable, Related Party, Balloon Payment to be Paid | 1,425,000 | ||||||||||
Inventory Adjustments, Total | 1,250,000 | 1,250,000 | |||||||||
Contract with Customer, Asset, Allowance for Credit Loss, Recovery | 151,000 | ||||||||||
Equity Method Investment, Ownership Percentage | 40.00% | ||||||||||
United Systems [Member] | |||||||||||
Capitalized Contract Cost, Net, Total | 686,365 | 686,365 | |||||||||
Wand Dental Inc [Member] | |||||||||||
Deferred Revenue, Current, Total | 342,540 | 342,540 | 342,540 | 342,540 | |||||||
Chief Executive Officer [Member] | |||||||||||
Deferred Compensation Arrangement with Individual, Recorded Liability | 387,000 | 222,000 | 222,000 | 387,000 | |||||||
Chief Financial Officer [Member] | |||||||||||
Deferred Compensation Arrangement with Individual, Recorded Liability | 20,000 | 20,000 | 20,000 | 20,000 | |||||||
Director [Member] | |||||||||||
Deferred Compensation Arrangement with Individual, Recorded Liability | 280,000 | 455,000 | 455,000 | 280,000 | |||||||
Manufacturing Agreement for Handpieces [Member] | |||||||||||
Related Party Transaction, Purchases from Related Party | 549,000 | 361,727 | 1,100,000 | 900,000 | |||||||
Due to Related Parties, Total | $ 1,100,000 | 1,100,000 | 1,100,000 | 1,100,000 | |||||||
Consulting Services [Member] | |||||||||||
Consulting Services Agreement, Term | 3 years | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | 25,000 | 25,000 | 75,000 | 75,000 | |||||||
Consulting Services [Member] | United Systems [Member] | |||||||||||
Stock Issued During Period, Shares, Issued for Services | 285,714 | ||||||||||
Shares Issued, Price Per Share | $ 0.35 | ||||||||||
Stock Issued During Period, Value, Issued for Services | $ 100,000 | ||||||||||
Distributor Agreement to Milestone China [Member] | United Systems [Member] | |||||||||||
Revenue from Related Parties | $ 750,000 | ||||||||||
Consultant [Member] | Innovest S.p.A. [Member] | |||||||||||
Consulting Services Agreement, Term | 1 year | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 20,000 | $ 20,000 | $ 60,000 | $ 60,000 | |||||||
Consulting Services Agreement, Renewal Term | 1 year |
Note 13 - Commitments (Details
Note 13 - Commitments (Details Textual) | Jan. 01, 2005 | Aug. 31, 2019USD ($) | Jan. 31, 2018 | Jun. 30, 2015USD ($)ft² | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Advances on Inventory Purchases | $ 628,494 | $ 648,783 | ||||
Operating Leases, Monthly Rent Expense | $ 12,522 | |||||
Additional Percentage of Director Compensation on Sales Value Using Certain Specify Technology | 2.50% | |||||
Additional Percentage of Director Compensation Sales Value Using Other Kind of Technology | 5.00% | |||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | ||||||
Area of Real Estate Property | ft² | 6,851 | |||||
Area of Rentable Space | ft² | 774 | |||||
Operating Leases, Monthly Rent Expense | $ 9,275 | |||||
Lessee, Operating Lease, Term of Contract | 7 years | |||||
Lessee, Operating Lease, Electric Charge Per Square Foot | $ 2 | |||||
Lessee, Operating Lease, Electric Payments, Annually | 11,130 | |||||
Lessee, Operating Lease, Electric Payments, Monthly | $ 927.50 | |||||
Purchase Commitment for Devices [Member] | ||||||
Purchase Commitment Number Of Units | 1,000 | |||||
Purchase Commitment for Devices Begining in 2019 [Member] | ||||||
Purchase Commitment Number Of Units | 1,500 | |||||
Purchase Commitment, Remaining Minimum Amount Committed | $ 1,149,560 | |||||
Advances on Inventory Purchases | $ 434,605 | |||||
Purchase Commitment for Devices Begining in 2020 [Member] | ||||||
Purchase Commitment Number Of Units | 100 | 100 | ||||
Purchase Commitment, Remaining Minimum Amount Committed | $ 299,000 | |||||
Advances on Inventory Purchases | $ 89,700 |
Note 13 - Commitments - Lease E
Note 13 - Commitments - Lease Expense (Details) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Operating lease cost | $ 39,555 | $ 118,664 |
Total lease cost | $ 39,555 | 118,664 |
Operating cash flows from operating leases | 118,664 | |
Right-of-use assets obtained in exchange for new operating lease liabilities | ||
Weighted-average remaining lease term - operating leases (Year) | 146 days | 146 days |
Weighted-average discount rate - operating leases | 9.20% | 9.20% |
Note 13 - Commitments - Maturit
Note 13 - Commitments - Maturities of Lease Liabilities (Details) - USD ($) | Sep. 30, 2019 | Jan. 01, 2019 |
2020 | $ 39,555 | |
2021 | 15,976 | |
2022 | ||
2023 | ||
Thereafter | ||
Total lease payments | 55,531 | |
Less: interest | (714) | |
Operating Lease, Liability, Total | $ 54,817 | $ 166,292 |
Note 13 - Commitments - Future
Note 13 - Commitments - Future Minimum Lease Payments and Operating Lease Commitments (Details) | Dec. 31, 2018USD ($) |
Operating Lease Obligations | $ 175,557 |
Operating Lease Obligations, less than 1 year | 159,138 |
Operating Lease Obligations, 1-3 years | 16,419 |
Operating Lease Obligations, 3-5 years |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | ||
Nov. 14, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Common Stock, Shares, Issued, Total | 48,199,073 | 33,859,034 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.49 | $ 2.55 | ||
Proceeds from Warrant Exercises | $ 1,974,547 | |||
Subsequent Event [Member] | ||||
Common Stock, Shares, Issued, Total | 239,629 | |||
Subsequent Event [Member] | The 2019 Warrants [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||
Proceeds from Warrant Exercises | $ 119,813 |