Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 31, 2021 | Jun. 30, 2020 | |
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 Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 66,558,550 | ||
Entity Public Float | $ 85,817,776 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, par value $.001 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 14,223,917 | $ 1,516,272 |
Accounts receivable, net | 1,080,656 | 1,710,665 |
Prepaid expenses and other current assets | 415,915 | 519,063 |
Inventories, net | 2,420,179 | 1,620,509 |
Advances on contracts | 414,202 | 710,662 |
Total current assets | 18,554,869 | 6,077,171 |
Furniture, fixtures and equipment, net | 30,729 | 44,976 |
Intangibles, net | 329,249 | 382,260 |
Right of use assets | 632,453 | 15,977 |
Other assets | 24,150 | 35,905 |
Total assets | 19,571,450 | 6,556,289 |
Current liabilities: | ||
Accounts payable | 482,972 | 1,379,425 |
Accounts payable, related party | 385,138 | 1,358,752 |
Accrued expenses and other payables | 824,454 | 775,055 |
Accrued expenses, related party | 586,734 | 1,057,957 |
Current portion of finance leases liabilities | 7,796 | 3,904 |
Current portion of operating lease right-of-use liabilities | 72,031 | 12,073 |
Deferred profit, related party | 242,589 | 340,476 |
Note payable | 276,180 | |
Total current liabilities | 2,877,894 | 4,927,642 |
Finance lease liabilities | 28,607 | |
Operating lease liabilities | 557,981 | |
Total liabilities | 3,464,482 | 4,927,642 |
Commitments and contingencies | ||
Stockholders’ equity | ||
Common stock, par value $.001; authorized 85,000,000 shares; 64,171,435 shares issued and 64,138,102 shares outstanding as of December 31, 2020; 49,410,176 shares issued and 49,376,843 shares outstanding as of December 31, 2019; | 64,171 | 49,410 |
Additional paid in capital | 117,934,696 | 96,082,324 |
Accumulated deficit | (100,885,957) | (93,524,297) |
Treasury stock, at cost, 33,333 shares | (911,516) | (911,516) |
Total Milestone Scientific Inc. stockholders' equity | 16,201,394 | 1,695,921 |
Noncontrolling interest | (94,426) | (67,274) |
Total stockholders’ equity | 16,106,968 | 1,628,647 |
Total liabilities and stockholders’ equity | $ 19,571,450 | $ 6,556,289 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 85,000,000 | 85,000,000 |
Common stock, shares issued (in shares) | 64,171,435 | 49,410,176 |
Common stock, shares outstanding (in shares) | 64,138,102 | 49,376,843 |
Treasury stock, at cost, shares (in shares) | 33,333 | 33,333 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Product sales, net | $ 5,437,236 | $ 8,374,501 |
Cost of products sold | 1,815,924 | 2,656,142 |
Gross profit | 3,621,312 | 5,718,359 |
Selling, general and administrative expenses | 10,766,580 | 9,527,429 |
Research and development expenses | 307,850 | 189,923 |
Total operating expenses | 11,074,430 | 9,717,352 |
Loss from operations | (7,453,118) | (3,998,993) |
Other expenses | (24,790) | (10,408) |
Interest income | 6,709 | 1,543 |
Change in fair value of derivative liability | (3,635,580) | |
Loss before provision for income taxes and net of equity investments | (7,471,199) | (7,643,438) |
Provision for income taxes | (15,500) | (18,126) |
Loss before equity in net earnings of equity investments | (7,486,699) | (7,661,564) |
Earnings from equity method investment | 97,887 | 81,324 |
Net loss | (7,388,812) | (7,580,240) |
Net loss attributable to noncontrolling interests | 51,539 | 55,872 |
Net loss attributable to Milestone Scientific Inc. | $ (7,337,273) | $ (7,524,368) |
Net loss per share applicable to common stockholders— | ||
Basic (in dollars per share) | $ (0.12) | $ (0.16) |
Diluted (in dollars per share) | $ (0.12) | $ (0.16) |
Weighted average shares outstanding and to be issued— | ||
Basic (in shares) | 63,061,358 | 45,740,050 |
Diluted (in shares) | 63,061,358 | 45,740,050 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Public Offering [Member]Preferred Stock [Member] | Public Offering [Member]Common Stock [Member] | Public Offering [Member]Additional Paid-in Capital [Member] | Public Offering [Member]Retained Earnings [Member] | Public Offering [Member]Noncontrolling Interest [Member] | Public Offering [Member]Treasury Stock [Member] | Public Offering [Member] | Private Placement [Member]Preferred Stock [Member] | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Retained Earnings [Member] | Private Placement [Member]Noncontrolling Interest [Member] | Private Placement [Member]Treasury Stock [Member] | Private Placement [Member] | June 30, 2020 Public Offering [Member]Preferred Stock [Member] | June 30, 2020 Public Offering [Member]Common Stock [Member] | June 30, 2020 Public Offering [Member]Additional Paid-in Capital [Member] | June 30, 2020 Public Offering [Member]Retained Earnings [Member] | June 30, 2020 Public Offering [Member]Noncontrolling Interest [Member] | June 30, 2020 Public Offering [Member]Treasury Stock [Member] | June 30, 2020 Public Offering [Member] | 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] | 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, 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 Compensation | 183,888 | 183,888 | ||||||||||||||||||||||||||||||||||||||||
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) | |||||||||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised Total (in shares) | 675,000 | 675,000 | ||||||||||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised Total | $ 675 | 336,825 | $ 337,500 | |||||||||||||||||||||||||||||||||||||||
Common stock issued in offering (in shares) | 714,286 | 6,282,400 | ||||||||||||||||||||||||||||||||||||||||
Common stock issued in offering | $ 714 | $ 249,286 | $ 250,000 | $ 6,282 | $ 1,968,265 | $ 1,974,547 | ||||||||||||||||||||||||||||||||||||
Common stock to be issued for bonus and compensation (in shares) | 428,635 | |||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for bonus and compensation | $ 429 | 790,237 | 790,666 | |||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 607,784 | 147,438 | ||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 608 | $ 292,792 | $ 293,400 | $ 147 | 66,997 | 67,144 | ||||||||||||||||||||||||||||||||||||
Common stock issued for payment of consulting services (in shares) | 339,058 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued for payment of consulting services | $ 339 | 147,616 | 147,955 | |||||||||||||||||||||||||||||||||||||||
Overallotment of securities, initial derivative reclassifications (in shares) | (3,360,830) | |||||||||||||||||||||||||||||||||||||||||
Overallotment of securities, initial derivative reclassifications | $ (3,361) | (2,199,664) | (2,203,025) | |||||||||||||||||||||||||||||||||||||||
Shares and warrants issued, previously classified as derivative liability (in shares) | 1,263,899 | |||||||||||||||||||||||||||||||||||||||||
Shares and warrants issued, previously classified as derivative liability | $ 1,264 | 1,721,562 | 1,722,826 | |||||||||||||||||||||||||||||||||||||||
Settlement of derivative liability | 4,115,778 | 4,115,778 | ||||||||||||||||||||||||||||||||||||||||
Net loss | (7,524,368) | (55,872) | (7,580,240) | |||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 49,410 | 96,082,324 | (93,524,297) | (67,274) | (911,516) | 1,628,647 | ||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 49,410,176 | |||||||||||||||||||||||||||||||||||||||||
Stock Compensation | 550,349 | 550,349 | ||||||||||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised Total (in shares) | 1,163,775 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised Total | $ 1,163 | 1,016,860 | 1,018,023 | |||||||||||||||||||||||||||||||||||||||
Common stock issued in offering (in shares) | 5,420,000 | 6,770,000 | ||||||||||||||||||||||||||||||||||||||||
Common stock issued in offering | $ 5,420 | $ 4,621,022 | $ 4,626,442 | $ 6,770 | $ 13,410,074 | $ 13,416,844 | ||||||||||||||||||||||||||||||||||||
Common stock to be issued for bonus and compensation (in shares) | 52,566 | |||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for bonus and compensation | $ 53 | 59,959 | 60,012 | |||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 481,685 | 121,527 | ||||||||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 490 | $ 837,970 | $ 838,460 | $ 122 | $ 238,065 | $ 238,187 | ||||||||||||||||||||||||||||||||||||
Net loss | (7,337,273) | (51,539) | (7,388,812) | |||||||||||||||||||||||||||||||||||||||
Common stock issued to employees for bonuses (in shares) | 414,736 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued to employees for bonuses | $ 406 | 734,264 | 734,670 | |||||||||||||||||||||||||||||||||||||||
Acquired controlling interest in Milestone Advanced Cosmetic Systems | (24,387) | 24,387 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 336,970 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued to employee for option exercised | $ 337 | 383,809 | 384,146 | |||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 64,171,435 | |||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | $ 64,171 | $ 117,934,696 | $ (100,885,957) | $ (94,426) | $ (911,516) | $ 16,106,968 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (7,388,812) | $ (7,580,240) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 42,937 | 47,495 |
Amortization of intangibles | 53,012 | 53,013 |
Stock based compensation | 550,349 | 183,888 |
Employees paid in stock | 794,732 | 857,810 |
Consulting expense paid in stock | 838,410 | 441,355 |
Non-cash operating lease expense | 34,332 | |
Earnings on China joint venture | (97,887) | (81,324) |
Change in fair value of derivative liability | 3,635,580 | |
Changes in operating assets and liabilities: | ||
Decrease in accounts receivable | 630,009 | 267,791 |
Decrease in accounts receivable, related party | 100,000 | |
Decrease (increase) in other assets | 11,755 | (9,027) |
(Increase) decrease in inventories | (799,670) | 300,542 |
Decrease (increase) in advances on contracts | 296,460 | (61,879) |
Decrease (increase) in prepaid expenses and other current assets | 103,148 | (104,522) |
Decrease in accounts payable | (896,453) | 320,239 |
Decrease in accounts payable, related party | (973,614) | (303,346) |
Decrease in deferred cost, related party | 50,000 | |
Increase in accrued expenses | 50,323 | 273,537 |
(Decrease) in accrued expenses, related party | (233,959) | (70,200) |
(Decrease) in deferred revenue, related party | (100,000) | |
Net cash used in operating activities | (6,984,928) | (1,779,288) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (21,438) | (9,916) |
Net cash used in investing activities | (21,438) | (9,916) |
Cash flows from financing activities: | ||
Proceeds from exercise of warrants | 1,018,023 | 337,500 |
Payments finance lease obligations | (7,622) | |
Common stock issued to employee for option exercised | 384,146 | |
Net proceeds from note payable | 276,180 | |
Net proceeds from Public Offering | 18,043,284 | 1,974,547 |
Net proceeds from Private Placement Offering | 250,000 | |
Net cash provided by financing activities | 19,714,011 | 2,562,047 |
Net increase (decrease) in cash and cash equivalents | 12,707,645 | 772,843 |
Cash and cash equivalents at beginning of period | 1,516,272 | 743,429 |
Cash and cash equivalents at end of period | 14,223,917 | 1,516,272 |
Supplemental non-cash disclosure of cash flow information: | ||
Initial recognition of operating lease-right of use assets | (706,071) | (166,292) |
Initial recognition of operating lease right to used liabilities | $ 706,071 | $ 166,292 |
Note A - Organization and Busin
Note A - Organization and Business | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE A — ORGANIZATION AND BUSINESS 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 August 1989. The Wand CompuDent , STA Single Tooth Anesthesia System CompuMed . CompuDent CompuMed 60 June 2017, 510 CompuFlo December 31, 2020 seven 7 In December 2016, 510 not 510 510 2019, 510 not 2019. 510 2021, In February 2019, $2.0 5,715,000 1,428,750 $198,000 567,400 141,850 February 2019, $250,000 714,286 178,571 Bp4 In April June 2020, two $4.6 $13.4 |
Note B - Liquidity and Uncertai
Note B - Liquidity and Uncertainties | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE B- LIQUIDITY AND UNCERTAINTIES 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 In April June 2020, two $4.6 $13.4 December 31, 2020, $14.2 $12.7 December 31, 2019. two one The coronavirus (COVID- 19 December 2019 third 12 months ended December 31, 2020 Although there was an increase in dental instrument and disposable sell through to dentists beginning in the third 2020, 19 may |
Note C - Summary of Significant
Note C - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE C — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1. The accompanying 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) and Milestone Medical (majority owned). All significant, intra-entity transactions and balances have been eliminated in the consolidation. 2. Certain reclassifications have been made to the 2019 2020 no 3. 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, and valuation allowances on deferred tax assets. Actual results could differ from those estimates . 4. The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To perform revenue recognition, the Company performs the following 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 and 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 We operate in two December 31, 2020 2019. 5. 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 Milestone Scientific 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. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three December 31, 2020 2019 $13.1 $302,000 may December 31, 2020, $700,000 7. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the ability or inability of its customers to make payments on amounts billed. Most credit sales are due within 90 not December 31, 2020 2019, $10,000 8. Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first The valuation allowance creates a new cost basis for the inventory, and it is not 9. Investments in which Milestone Scientific can exercise significant influence, but do not may 10. 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 11. 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 recorded at acquisition cost and be amortized at the estimated useful life. Patent defense costs, to the extent applicable, are expensed as incurred. 12. 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 • 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. 13. On April 27, 2020, $276,000, March 27, 2020. The Loan, which was in the form of a Note dated April 27, 2020, April 27, 2022, 1.00% November 26, 2020. may no may February 15, 2020. may 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 December 31, 2020 2019, no No 2017, 2018 2019 16. Milestone Scientific presents “basic” earnings (loss) per common share applicable to common stockholders and, if applicable, “diluted” earnings (loss) per common share applicable to common stockholders pursuant to the provisions of ASC 260, Since Milestone Scientific had net losses in the year ended December 31, 2020 2019, not 8,397,836 2,336,611 December 31, 2020 2019, 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 December 31, 2020 2019 not During the year ended December 31, 2019 not 3 1 December 17, 2019, 3 December 31, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note I) 376,497 Change in fair value of derivative liability 422,484 Employee options reclassified as derivative liability 500,000 Change in value of derivative securities – exercised (655,000 ) Reversal of derivative liability for exercised warrants 820,954 Reversal of Level 3 of derivative liability to equity upon authorized share increase (1,464,935 ) Balance at end of period $ - 18. The Company does not 815, 19. Milestone Scientific accounts for stock-based compensation under ASC Topic 718, 718 The fair value of the non-employee options were also estimated on the date of grant using the Black Scholes option-pricing model. See Note J. 20. In December 2019, 2019 12, 740 2019 12 December 15, 2020. not In January 2020, 2020 01, 321 323 815 2020 01 December 15, 2021, not In August 2020, 2020 06, 470 20 815 40 2020 06 December 15, 2021, not |
Note D - Inventories
Note D - Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE D — INVENTORIES Inventories consist of the following: December 31, 2020 December 31, 2019 Dental finished goods, net $ 1,888,141 $ 1,306,763 Medical finished goods, net 200,327 213,861 Component parts and other materials 331,711 99,885 Total inventories $ 2,420,179 $ 1,620,509 At December 31, 2020, $450,000 $3,000. July 2019, $151,000 2018. December 31, 2019, $450,000 $318,000. 2020 $315,000 |
Note E - Advances on Contracts
Note E - Advances on Contracts | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Advances to Contract Manufacturer [Text Block] | NOTE E — ADVANCES ON CONTRACTS The advances on contracts represent funding of future dental STA, and epidural inventory purchases and epidural replacements parts. The balance of the advances as of December 31, 2020 2019 $414,000 $710,000, |
Note F - Investment in and Tran
Note F - Investment in and Transactions with Equity Investees | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE F – INVESTMENT IN AND TRANSACTIONS WITH EQUITY INVESTEES Milestone China Ltd. Ownership In June 2014, $1 forty 40% 75% In first 2020, 19 28.4% Related Party Transactions Milestone China is Milestone Scientific's exclusive distributor in China. During 2017 2018, 2018, $2.8 $950,000 During the year ended December 31, 2020 100 $75,000. December 31, 2020, $183,000 December 31, 2019, 2018 $259,000, $104,000 In April 2020, 2018, not $370,260 $100,000 April 2020, $170,260 April 23, 2020, $1.59 June 2020, $100,000 July 2020. $1.4 $370,260 twelve December 31, 2020. In May 2020, 50% $900,000 50% one $900,000 100% 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 December 31, 2020 2019, $243,000 $340,000, twelve December 31, 2020 2019 $97,887 $81,324 third Equity Method Disclosures Milestone Scientific, in previous years, reduced its investment in Milestone China to zero $4.3 December 31, 2019 $ 5.9 December 31, 2020, The following includes summarized financial information of Milestone China for the year ending December 31, 2019. December 31, 2019 Assets: Current assets $ 8,392,858 Non-current assets 5,082,313 Total assets: $ 13,475,171 Liabilities and stockholders' deficit: Current liabilities $ 17,910,452 Stockholders' deficit (4,435,281 ) Total liabilities and stockholders' deficit $ 13,475,171 December 31, 2019 Net sales $ 3,401,025 Cost of goods sold 1,724,882 Gross profit 1,676,143 Other expenses (3,996,663 ) Net loss $ (2,320,520 ) In first 2020, However, as of the filing date of this Quarterly Report, due to the COVID- 19 The following includes summarized combined financial information of Milestone China and Anhui for the year ending December 31, 2020. December 31, 2020 Assets: Current assets $ 4,726,883 Non-current assets 4,040,327 Total assets: $ 8,767,210 Liabilities and stockholders' deficit: Current liabilities $ 10,885,019 Stockholders' deficit (2,117,809 ) Total liabilities and stockholders' deficit $ 8,767,210 December 31, 2020 Net sales $ 4,183,774 Cost of goods sold 2,895,092 Gross profit 1,288,682 Other expenses (5,376,391 ) Net loss $ (4,087,709 ) |
Note G - Furniture, Fixtures an
Note G - Furniture, Fixtures and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE G— FURNITURE, FIXTURES AND EQUIPMENT 2020 2019 Furniture, Fixtures and Equipment consist of the following: Leasehold improvements $ 24,734 $ 24,734 Office furniture and equipment 174,147 134,947 Molds 7,200 7,200 Trade show displays 151,462 151,462 Computers and software 262,290 280,577 Tooling Safety Wand 125,022 125,022 Tooling equipment-STA & Wand 11,100 11,100 EPI and IA Instruments 82,363 82,363 STA Trials Instruments 63,752 63,752 Total 902,070 881,157 Less accumulated depreciation (871,341 ) (836,181 ) Total $ 30,729 $ 44,976 Depreciation expense was approximately $43,000 $47,500 December 31, 2020 2019, |
Note H - Patents
Note H - Patents | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE H — PATENTS December 31, 2020 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (1,048,614 ) $ 329,249 Total $ 1,377,863 $ (1,048,614 ) $ 329,249 December 31, 2019 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (995,603 ) $ 382,260 Total $ 1,377,863 $ (995,603 ) $ 382,260 Patents are amortized utilizing the straight-line method over estimated useful lives ranging from 3 20 $53,013 December 31, 2020 2019, 2021 2025 $53,000, $53,000, $47,000, $33,000 $24,000. |
Note I - Stockholders' Equity
Note I - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE I — STOCKHOLDERS' EQUITY 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 In the second 2020, two April 2020, $5.1 5,420,000 2,710,000 $0.95 $1.20 three 3 June 2020, second $14.6 6,770,000 3,749,000 $2.15 $2.60 three 3 WARRANTS The following table summarizes information about shares issuable under warrants outstanding at December 31, 2020: 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 4.10 1,556,762 Exercised (675,000 ) 532,413 Expired or cancelled (1,592,775 ) 2.55 - - Outstanding and exercisable at December 31,2019 1,074,171 0.50 4.10 956,012 Issued 6,459,000 2.01 3.00 $ - Exercised (1,163,775 ) 0.85 - - Expired or cancelled - - - Outstanding and exercisable at December 31, 2020 6,369,396 1.97 2.48 $ 2,784,117 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 December 31, 2020 2019, 2,256,844 2,226,473 As of December 31, 2020 2019, 171,485 149,287 The following table summarizes information about shares to be issue at December 31, 2020. December 31, 2020 December 31, 2019 Shares-to-be-issued, outstanding January 1, 2020 and 2019, respectively 2,375,760 2,470,566 Granted in current period 642,667 2,103,793 Issued in current period (590,098 ) (2,198,599 ) Shares-to be issued outstanding December 31, 2020 and 2019, respectively 2,428,329 2,375,760 OUTSTANDING EQUITY INSTRUMENTS 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 During 2019, 1.6 2016 1.7 2019 0.6 3.4 $376,000, $422,000, $1,405,000, 665,000 2019, 1.3 $0.5 $0.5 $0.65 $1.07 The fair value of the Company's shares to be issued is measured using the trading price of the Company's stock on the measurement and reclassification dates and the fair value of the warrants and stock options is determined using a Black-Scholes option pricing model on the measurement and reclassification dates. On December 17, 2019, 75,000,000, 1.6 2016 1.1 2019 0.6 2.1 - $860,000, $40,000 $1,800,000, $2.6 December 17, 2019, - $1,095,000, $380,000, $2,640,000, $4.1 The following assumptions were used to value the warrants and stock options at the reclassification to liability date: 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $ 0.36-$.83 $ 0.33 $ 1.07 1.60 Expected Term .2-.5 years 4.9 years 1.1 – 2.22 years Volatility 86% 100 % 83 % 91.8 102.3 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.88% 2.09 % 2.30 % 1.68 1.53 % Weighted average fair value of securities granted $ - $ 0.22 $ 0.72 Number of shares underlying securities granted 1,592,775 1,749,171 592,358 During the year ended December 31, 2019 675,000 2019 Warrants Fair Value of Common Stock $ 0.83 1.42 Expected Term 4.2 -4.3 years Volatility 86 87 % Dividend yield 0.00 % Exercise Price $ 0.50 Risk-free interest rate 1.38 1.73 % Weighted average fair value of warrants exercised $ 0.98 Number of shares underlying warrants exercised 665,000 The reclassification to additional paid in capital was approximately $655,000, $500,000 2019, 1.3 $0.84 $1.07 $500,000 In December 2019, 75,000,000, 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $ 1.28 $ 1.28 $ 1.28 Expected Term 0.1 years 4.1 years 1- 2.1 years Volatility 38 % 88 % 92 102 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.56 % 1.71 % 1.53 1.63 % Weighted average fair value of warrants granted $ - $ 1.01 $ 0.64 Number of shares underlying warrants granted 1,592,775 1,084,171 592,358 The reclassification to additional paid in capital for the 2016 2019 $1,095,000, $380,000, - $860,000, $40,000 2.1 $2.7 $1.8 |
Note J - Stock Option Plans
Note J - Stock Option Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE J — STOCK OPTION PLANS In June 2011, 2011 "2011 2,000,000 2016 4,000,000. three five December 31, 2020 424,425 The Milestone Scientific Inc. 2020 2,000,000 December 2030. may not three five December 31, 2020 no 2,000,000 Milestone Scientific recognizes compensation expense over the requisite service period and in the case of performance-based options over the period of the expected performance. For the twelve December 31, 2020 2019, $537,000, $181,000 As of December 31, 2020 2019, $936,442 $82,526 2.98 1.75 December 31, 2020 2019, A summary of option activity for employees under the plans and changes during the years ended December 31, 2020 2019 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2019 1,670,221 1.71 2.40 - Granted - - - - Exercised during 2019 - - - - Forfeited or expired (457,779 ) 1.96 - - Options outstanding December 31, 2019 1,212,442 1.61 2.00 - Granted during 2020 1,135,277 2.00 4.82 137,186 Exercised during 2020 (336,970 ) 1.14 - - Forfeited or expired during 2020 (57,306 ) 3.89 - - Options outstanding December 31, 2020 1,953,443 1.88 3.09 476,964 Exercisable, December 31, 2020 1,169,925 1.79 1.90 385,507 The Company used the following assumptions to calculate the fair value of the stock option grants using the Black-Scholes option pricing model on the measurement date during the year ended December 31, 2020, 1.73% 1.81%, 89.80% 92.90% 3 5 0% $1.99 $2.16. A summary of option activity for non-employees under the plans and changes during the years ended December 31, 2020 2019, Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2019 33,332 1.87 2.94 - Granted 16,666 0.55 4.43 13,999 Exercised during 2019 - - - - Options outstanding December 31, 2019 49,998 1.87 2.94 Granted during 2020 33,332 1.71 4.60 13,666 Exercised during 2020 - - - - Forfeited or expired during 2020 (8,333 ) 2.70 - Options outstanding December 31, 2020 74,997 1.41 3.18 54,748 Exercisable, December 31, 2020 47,220 1.38 2.55 36,915 The fair value of the non-employee options was estimated on the date of grant using the Black Scholes option-pricing model at the date of grant. For the twelve December 31, 2020 2019, $13,600 $2,400 The Company used the following assumptions to calculate the fair value of the stock option grants using the Black-Scholes option pricing model on the measurement date during the year ended December 31, 2020, 0.2% 0.5 86.97% 94.05%, 5 0% $1.65 $1.75. |
Note K - Employment Contract an
Note K - Employment Contract and Consulting Agreements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Employment and Consulting Agreements [Text Block] | NOTE K–EMPLOYMENT CONTRACT AND CONSULTING AGREEMENTS Employment Contracts On December 1, 2016, $280,000 one September 1, 2016 August 31, 2017 ( one September 1st August 31st June 1st not May 2020, In July 2017, ten $300,000 $100,000 $200,000 first fifteen 15 one 280G 4 In July 2017, ten $100,000 On December 19, 2017, not no may |
Note L - Income Taxes
Note L - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE L — INCOME TAXES Due to Milestone Scientific's history of operating losses, a full valuation allowances have been provided for all of Milestone Scientific's deferred tax assets. At December 31, 2020 2019, no Deferred tax attributes resulting from differences between financial accounting amounts and tax bases of assets and liabilities at December 31, 2020 2019 2020 2019 Allowance for Doubtful Accounts $ 2,000 $ 2,000 Warranty Reserve 5,000 5,000 Impaired Assets - - Inventory Reserve 110,000 178,000 Deferred Officer's Compensation 816,000 820,000 Depreciation and Amortization (67,000 ) (103,000 ) Net Operating Loss Carryforwards 17,993,000 16,504,000 Tax Credits 416,000 384,000 Other 10,000 (28,000 ) Subtotal 19,285,000 17,762,000 Valuation allowance (19,285,000 ) (17,762,000 ) Non-current deferred tax asset - - As of December 31, 2020 $66,000,000. December 31, 2019, $59,000,000, December 31, 2017 December 2037. 2020 2019 $3.4 $4.5 2018 indefinitely. State net operating losses were approximately $56,300,000 56,700,000 December 31, 2020 2019, December 2040. The utilization of Milestone Scientific's net operating losses may 382 may 100% As of December 31, 2020, 2019, $24,000 $18,000, Accounting for uncertainties in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and provides guidance on derecognition, classification, interest and penalties, disclosure, and transition. At December 31, 2020 2019, no No 2017, 2018, 2019 A reconciliation of the statutory tax rates for the years ended December 31, 2020 2019 Statutory rate 21 % 21 % State income tax-all states 1 4 Warrant Revaluation - (11 ) NOL Expiration (11 ) (22 ) Other 8 (3 ) Subtotal 19 % -11 % Valuation allowance -19 % 11 % Effective tax rate - - |
Note M - Segment and Geographic
Note M - Segment and Geographic Data | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Product Sales and Significant Customers and Vendors Disclosure [Text Block] | NOTE M — SEGMENT AND GEOGRAPHIC DATA We conduct our business through two not The following tables present information about our reportable and operating segments: Years Ended December 31, Sales Net Sales: 2020 2019 Dental $ 5,421,436 $ 8,336,901 Medical 15,800 37,600 Total net sales $ 5,437,236 $ 8,374,501 Operating Income (Loss): 2020 2019 Dental $ 817,355 $ 2,775,730 Medical (3,338,411 ) (2,350,103 ) Corporate (4,932,062 ) (4,424,620 ) Total operating loss $ (7,453,118 ) $ (3,998,993 ) Depreciation and Amortization: 2020 2019 Dental $ 9,896 $ 15,793 Medical 5,693 8,392 Corporate 80,360 76,323 Total depreciation and amortization $ 95,949 $ 100,508 Income (loss) before taxes and equity in earnings of affiliates: 2020 2019 Dental $ 807,770 $ 2,774,359 Medical (3,342,853 ) (2,353,194 ) Corporate (4,936,116 ) (8,064,603 ) Total loss before taxes and equity in earnings of affiliate $ (7,471,199 ) $ (7,643,438 ) Total Assets 2020 2019 Dental $ 6,035,645 $ 5,008,324 Medical 923,658 590,727 Corporate 12,612,147 957,238 Total loss before taxes and equity in earnings of affiliate $ 19,571,450 $ 6,556,289 The following table presents information about our operations by geographic area as December 31, 2020 2019. Total Product Sales-Dental 2020 2019 Domestic-US $ 2,118,186 $ 4,512,904 International Rest of World 3,225,850 3,665,347 International-China 77,400 158,650 Total Product Sales-Dental $ 5,421,436 $ 8,336,901 Total Product Sales-Medical Domestic-US $ 2,000 $ 13,700 International Rest of World 13,800 23,900 International-China - - Total Product Sales-Medical $ 15,800 $ 37,600 Domestic-US and Canada $ 2,120,186 $ 4,526,604 International Rest of World 3,239,650 3,689,247 International-China 77,400 158,650 Total $ 5,437,236 $ 8,374,501 |
Note N - Concentrations
Note N - Concentrations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE N-- CONCENTRATIONS Milestone Scientific has informal arrangements with third CompuDent CompuMed December 31, 2020 2019. For the twelve December 31,2020 38% one twelve December 31, 2019, 46% one Accounts receivable for the major customer/distributors amounted to approximately or 69%, December 31, 20120. 71% December 31, 2019. |
Note O - Related Party Transact
Note O - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE O -- RELATED PARTY TRANSACTIONS 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 $1,850,000 $1,200,000 twelve December 31, 2020 2019, December 31, 2020 December 31, 2019, $362,000 $943,000, In February 2019, 285,714 $0.35 $100,000 July 2019. April 29, 2020, $370,260 Milestone China Milestone Scientific owns a 40% Other In August 2016, three $100,000 December 31, 2020 2019, December 2019, one $100,000. In January 2017, twelve twelve $60,000 $80,000 December 31, 2019 2018, September 30, 2020. As of December 31, 2020 2019 $275,000, $380,000, The Company engaged Gian Domenico Trombetta, former CEO of Wand Dental Inc. as a consultant for a period of twelve October 1, 2020 September 30, 2021). twelve $60,000 The Director of Clinical Affairs' royalty fee was approximately $267,000 $403,000 December 31, 2020 2019, $156,000 December 31, 2020, 2019. December 31, 2020 2019 $127,000 $390,000, On March 2, 2021, May 9, 2027, 2.5% January 1, 2005 February 25, 2021 five 5% two one 2.5% May 9, 2027 five 5% May 9, 2027 |
Note P - Commitments
Note P - Commitments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE P — COMMITMENTS ( 1 Milestone Scientific has informal arrangements with third July 2019, 1,400 December 31, 2020, $147,224 $100,090 As of December 31, 2020, $607,735 $259,435 The company also has advances on an open purchase order for long lead items for a future purchase order for the manufacturing of Epidural instrument in 2021 $55,000. See Note R- Subsequent Events ( 2 Operating Leases As of December 31, 2020, $597,770 $630,012, $72,031 $557,981 December 31, 2019, $15,977 $15,977. December 31, 2020, five $34,683. December 31, 2020, $36,403, $7,796 $28,607 In August 2019, not seven 7 January 8, 2020. April 1, 2020 January 1 $9,275 $10,898 $2.00 $11,130 not 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 December 31, 2020 Years Ended 12/31/2020 12/31/2019 Cash paid for operating lease liabilities 109,654 158,218 Cash paid for finance lease liabilities 10,307 - Right-of-use assets obtained in exchange for new operating lease liabilities (1) 663,009 - Property and equipment obtained in exchange for new finance lease liabilities 43,242 - Weighted Average Remaining Lease Term Finance leases 4.04 years 0.2 years Operating leases 6.25 years Weighted-average discount rate - operating leases 9.2% 9.2% Maturity of lease liabilities As of December 31, 2020 As of December 31, 2019 2020 16,030 2021 135,953 - 2022 138,735 - 2023 141,518 - 2024 144,300 - 2025 136,776 - Thereafter 174,602 - Total lease payments 871,884 16,030 Less: interest (205,469) (53 ) Present value of lease liabilities 666,415 15,977 ( 3 The technology underlying the Safety Wand® and CompuFlo CompuDent January 1, 2005. 2.5% 5% third The Director of Clinical Affairs' royalty fee was approximately $267,000 $403,000 December 31, 2020 2019, $156,000 December 31, 2020, 2019, December 31, 2020 2019 $127,000 $390,000, |
Note Q - Benefit Plan
Note Q - Benefit Plan | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE Q — BENEFIT PLAN Milestone Scientific has a Defined Contribution Plan that allows eligible employees to contribute part of their salary through payroll deductions. Milestone Scientific does not not |
Note R - Subsequent Events
Note R - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE R — SUBSEQUENT EVENTS Since the year ended December 31, 2020, 147,625 $0.50 $73,813. Since the year ended December 31, 2020, 1,190,700 $1.20 $1,428,840. Since the year ended December 31, 2020, 580,601 $2.60 $1,509,563. In January 2021, 2,000 $1,518,364. On March 2, 2021, May 9, 2027, 2.5% January 1, 2005 February 25, 2021 five 5% two one 2.5% May 9, 2027 five 5% May 9, 2027 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | 1. The accompanying 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) and Milestone Medical (majority owned). All significant, intra-entity transactions and balances have been eliminated in the consolidation. |
Reclassification, Comparability Adjustment [Policy Text Block] | 2. Certain reclassifications have been made to the 2019 2020 no |
Use of Estimates, Policy [Policy Text Block] | 3. 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, and valuation allowances on deferred tax assets. Actual results could differ from those estimates . |
Revenue [Policy Text Block] | 4. The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To perform revenue recognition, the Company performs the following 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 and 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 We operate in two December 31, 2020 2019. |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | 5. 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 Milestone Scientific 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 |
Cash and Cash Equivalents, Policy [Policy Text Block] | 6. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three December 31, 2020 2019 $13.1 $302,000 may December 31, 2020, $700,000 |
Accounts Receivable [Policy Text Block] | 7. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the ability or inability of its customers to make payments on amounts billed. Most credit sales are due within 90 not December 31, 2020 2019, $10,000 |
Inventory, Policy [Policy Text Block] | 8. Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first The valuation allowance creates a new cost basis for the inventory, and it is not |
Equity Method Investments [Policy Text Block] | 9. Investments in which Milestone Scientific can exercise significant influence, but do not may |
Property, Plant and Equipment, Policy [Policy Text Block] | 10. 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] | 11. 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 recorded at acquisition cost and be amortized at the estimated useful life. Patent defense costs, to the extent applicable, are expensed as incurred. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | 12. 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 • 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. |
Debt, Policy [Policy Text Block] | 13. On April 27, 2020, $276,000, March 27, 2020. The Loan, which was in the form of a Note dated April 27, 2020, April 27, 2022, 1.00% November 26, 2020. may no may February 15, 2020. may |
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 December 31, 2020 2019, no No 2017, 2018 2019 |
Earnings Per Share, Policy [Policy Text Block] | 16. Milestone Scientific presents “basic” earnings (loss) per common share applicable to common stockholders and, if applicable, “diluted” earnings (loss) per common share applicable to common stockholders pursuant to the provisions of ASC 260, Since Milestone Scientific had net losses in the year ended December 31, 2020 2019, not 8,397,836 2,336,611 December 31, 2020 2019, |
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 December 31, 2020 2019 not During the year ended December 31, 2019 not 3 1 December 17, 2019, 3 December 31, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note I) 376,497 Change in fair value of derivative liability 422,484 Employee options reclassified as derivative liability 500,000 Change in value of derivative securities – exercised (655,000 ) Reversal of derivative liability for exercised warrants 820,954 Reversal of Level 3 of derivative liability to equity upon authorized share increase (1,464,935 ) Balance at end of period $ - |
Derivatives, Policy [Policy Text Block] | 18. The Company does not 815, |
Share-based Payment Arrangement [Policy Text Block] | 19. Milestone Scientific accounts for stock-based compensation under ASC Topic 718, 718 The fair value of the non-employee options were also estimated on the date of grant using the Black Scholes option-pricing model. See Note J. |
New Accounting Pronouncements, Policy [Policy Text Block] | 20. In December 2019, 2019 12, 740 2019 12 December 15, 2020. not In January 2020, 2020 01, 321 323 815 2020 01 December 15, 2021, not In August 2020, 2020 06, 470 20 815 40 2020 06 December 15, 2021, not |
Note C - Summary of Significa_2
Note C - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | December 31, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note I) 376,497 Change in fair value of derivative liability 422,484 Employee options reclassified as derivative liability 500,000 Change in value of derivative securities – exercised (655,000 ) Reversal of derivative liability for exercised warrants 820,954 Reversal of Level 3 of derivative liability to equity upon authorized share increase (1,464,935 ) Balance at end of period $ - |
Note D - Inventories (Tables)
Note D - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following: December 31, 2020 December 31, 2019 Dental finished goods, net $ 1,888,141 $ 1,306,763 Medical finished goods, net 200,327 213,861 Component parts and other materials 331,711 99,885 Total inventories $ 2,420,179 $ 1,620,509 |
Note F - Investment in and Tr_2
Note F - Investment in and Transactions with Equity Investees (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | December 31, 2019 Assets: Current assets $ 8,392,858 Non-current assets 5,082,313 Total assets: $ 13,475,171 Liabilities and stockholders' deficit: Current liabilities $ 17,910,452 Stockholders' deficit (4,435,281 ) Total liabilities and stockholders' deficit $ 13,475,171 December 31, 2019 Net sales $ 3,401,025 Cost of goods sold 1,724,882 Gross profit 1,676,143 Other expenses (3,996,663 ) Net loss $ (2,320,520 ) December 31, 2020 Assets: Current assets $ 4,726,883 Non-current assets 4,040,327 Total assets: $ 8,767,210 Liabilities and stockholders' deficit: Current liabilities $ 10,885,019 Stockholders' deficit (2,117,809 ) Total liabilities and stockholders' deficit $ 8,767,210 December 31, 2020 Net sales $ 4,183,774 Cost of goods sold 2,895,092 Gross profit 1,288,682 Other expenses (5,376,391 ) Net loss $ (4,087,709 ) |
Note G - Furniture, Fixtures _2
Note G - Furniture, Fixtures and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2020 2019 Furniture, Fixtures and Equipment consist of the following: Leasehold improvements $ 24,734 $ 24,734 Office furniture and equipment 174,147 134,947 Molds 7,200 7,200 Trade show displays 151,462 151,462 Computers and software 262,290 280,577 Tooling Safety Wand 125,022 125,022 Tooling equipment-STA & Wand 11,100 11,100 EPI and IA Instruments 82,363 82,363 STA Trials Instruments 63,752 63,752 Total 902,070 881,157 Less accumulated depreciation (871,341 ) (836,181 ) Total $ 30,729 $ 44,976 |
Note H - Patents (Tables)
Note H - Patents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2020 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (1,048,614 ) $ 329,249 Total $ 1,377,863 $ (1,048,614 ) $ 329,249 December 31, 2019 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (995,603 ) $ 382,260 Total $ 1,377,863 $ (995,603 ) $ 382,260 |
Note I - Stockholders' Equity (
Note I - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 4.10 1,556,762 Exercised (675,000 ) 532,413 Expired or cancelled (1,592,775 ) 2.55 - - Outstanding and exercisable at December 31,2019 1,074,171 0.50 4.10 956,012 Issued 6,459,000 2.01 3.00 $ - Exercised (1,163,775 ) 0.85 - - Expired or cancelled - - - Outstanding and exercisable at December 31, 2020 6,369,396 1.97 2.48 $ 2,784,117 |
Deferred Compensation Arrangement with Individual, Share-based Payments [Table Text Block] | December 31, 2020 December 31, 2019 Shares-to-be-issued, outstanding January 1, 2020 and 2019, respectively 2,375,760 2,470,566 Granted in current period 642,667 2,103,793 Issued in current period (590,098 ) (2,198,599 ) Shares-to be issued outstanding December 31, 2020 and 2019, respectively 2,428,329 2,375,760 |
Schedule of Warrant or Right Outstanding and Options, Valuation Assumptions [Table Text Block] | 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $ 0.36-$.83 $ 0.33 $ 1.07 1.60 Expected Term .2-.5 years 4.9 years 1.1 – 2.22 years Volatility 86% 100 % 83 % 91.8 102.3 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.88% 2.09 % 2.30 % 1.68 1.53 % Weighted average fair value of securities granted $ - $ 0.22 $ 0.72 Number of shares underlying securities granted 1,592,775 1,749,171 592,358 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $ 1.28 $ 1.28 $ 1.28 Expected Term 0.1 years 4.1 years 1- 2.1 years Volatility 38 % 88 % 92 102 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.56 % 1.71 % 1.53 1.63 % Weighted average fair value of warrants granted $ - $ 1.01 $ 0.64 Number of shares underlying warrants granted 1,592,775 1,084,171 592,358 |
Schedule Of Warrant Or Right Exercised Valuation Assumptions [Table Text Block] | 2019 Warrants Fair Value of Common Stock $ 0.83 1.42 Expected Term 4.2 -4.3 years Volatility 86 87 % Dividend yield 0.00 % Exercise Price $ 0.50 Risk-free interest rate 1.38 1.73 % Weighted average fair value of warrants exercised $ 0.98 Number of shares underlying warrants exercised 665,000 |
Note J - Stock Option Plans (Ta
Note J - Stock Option Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2019 1,670,221 1.71 2.40 - Granted - - - - Exercised during 2019 - - - - Forfeited or expired (457,779 ) 1.96 - - Options outstanding December 31, 2019 1,212,442 1.61 2.00 - Granted during 2020 1,135,277 2.00 4.82 137,186 Exercised during 2020 (336,970 ) 1.14 - - Forfeited or expired during 2020 (57,306 ) 3.89 - - Options outstanding December 31, 2020 1,953,443 1.88 3.09 476,964 Exercisable, December 31, 2020 1,169,925 1.79 1.90 385,507 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2019 33,332 1.87 2.94 - Granted 16,666 0.55 4.43 13,999 Exercised during 2019 - - - - Options outstanding December 31, 2019 49,998 1.87 2.94 Granted during 2020 33,332 1.71 4.60 13,666 Exercised during 2020 - - - - Forfeited or expired during 2020 (8,333 ) 2.70 - Options outstanding December 31, 2020 74,997 1.41 3.18 54,748 Exercisable, December 31, 2020 47,220 1.38 2.55 36,915 |
Note L - Income Taxes (Tables)
Note L - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2020 2019 Allowance for Doubtful Accounts $ 2,000 $ 2,000 Warranty Reserve 5,000 5,000 Impaired Assets - - Inventory Reserve 110,000 178,000 Deferred Officer's Compensation 816,000 820,000 Depreciation and Amortization (67,000 ) (103,000 ) Net Operating Loss Carryforwards 17,993,000 16,504,000 Tax Credits 416,000 384,000 Other 10,000 (28,000 ) Subtotal 19,285,000 17,762,000 Valuation allowance (19,285,000 ) (17,762,000 ) Non-current deferred tax asset - - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2020 2019 Statutory rate 21 % 21 % State income tax-all states 1 4 Warrant Revaluation - (11 ) NOL Expiration (11 ) (22 ) Other 8 (3 ) Subtotal 19 % -11 % Valuation allowance -19 % 11 % Effective tax rate - - |
Note M - Segment and Geograph_2
Note M - Segment and Geographic Data (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Years Ended December 31, Sales Net Sales: 2020 2019 Dental $ 5,421,436 $ 8,336,901 Medical 15,800 37,600 Total net sales $ 5,437,236 $ 8,374,501 Operating Income (Loss): 2020 2019 Dental $ 817,355 $ 2,775,730 Medical (3,338,411 ) (2,350,103 ) Corporate (4,932,062 ) (4,424,620 ) Total operating loss $ (7,453,118 ) $ (3,998,993 ) Depreciation and Amortization: 2020 2019 Dental $ 9,896 $ 15,793 Medical 5,693 8,392 Corporate 80,360 76,323 Total depreciation and amortization $ 95,949 $ 100,508 Income (loss) before taxes and equity in earnings of affiliates: 2020 2019 Dental $ 807,770 $ 2,774,359 Medical (3,342,853 ) (2,353,194 ) Corporate (4,936,116 ) (8,064,603 ) Total loss before taxes and equity in earnings of affiliate $ (7,471,199 ) $ (7,643,438 ) Total Assets 2020 2019 Dental $ 6,035,645 $ 5,008,324 Medical 923,658 590,727 Corporate 12,612,147 957,238 Total loss before taxes and equity in earnings of affiliate $ 19,571,450 $ 6,556,289 |
Sales by Product and by Geographical Region [Table Text Block] | Total Product Sales-Dental 2020 2019 Domestic-US $ 2,118,186 $ 4,512,904 International Rest of World 3,225,850 3,665,347 International-China 77,400 158,650 Total Product Sales-Dental $ 5,421,436 $ 8,336,901 Total Product Sales-Medical Domestic-US $ 2,000 $ 13,700 International Rest of World 13,800 23,900 International-China - - Total Product Sales-Medical $ 15,800 $ 37,600 Domestic-US and Canada $ 2,120,186 $ 4,526,604 International Rest of World 3,239,650 3,689,247 International-China 77,400 158,650 Total $ 5,437,236 $ 8,374,501 |
Note P - Commitments (Tables)
Note P - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost and Other Information [Table Text Block] | Years Ended 12/31/2020 12/31/2019 Cash paid for operating lease liabilities 109,654 158,218 Cash paid for finance lease liabilities 10,307 - Right-of-use assets obtained in exchange for new operating lease liabilities (1) 663,009 - Property and equipment obtained in exchange for new finance lease liabilities 43,242 - Weighted Average Remaining Lease Term Finance leases 4.04 years 0.2 years Operating leases 6.25 years Weighted-average discount rate - operating leases 9.2% 9.2% |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturity of lease liabilities As of December 31, 2020 As of December 31, 2019 2020 16,030 2021 135,953 - 2022 138,735 - 2023 141,518 - 2024 144,300 - 2025 136,776 - Thereafter 174,602 - Total lease payments 871,884 16,030 Less: interest (205,469) (53 ) Present value of lease liabilities 666,415 15,977 |
Note A - Organization and Bus_2
Note A - Organization and Business (Details Textual) | Jun. 30, 2020shares | Jun. 30, 2020USD ($) | Apr. 30, 2020USD ($)shares | Mar. 31, 2019USD ($)shares | Feb. 28, 2019USD ($)shares | May 31, 2014USD ($)shares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of Countries in which Entity Operates | 60 | |||||||
Proceeds from Stock Options Exercised | $ | $ 384,146 | |||||||
Proceeds from Issuance of Private Placement | $ | $ 250,000 | $ 10,000,000 | 250,000 | |||||
Proceeds from Issuance of Common Stock | $ | $ 18,043,284 | $ 1,974,547 | ||||||
Warrants, Public Offering [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 1,428,750 | |||||||
Underwrite Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 141,850 | 141,850 | ||||||
Warrants, Private Offering [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 178,571 | |||||||
Public Offering [Member] | ||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,000,000 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 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 (in shares) | shares | 567,400 | 567,400 | ||||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 714,286 | 2,000,000 | ||||||
Proceeds from Issuance of Common Stock | $ | $ 3,000,000 | |||||||
April 6, 2020 Public Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 5,420,000 | |||||||
Proceeds from Issuance of Common Stock | $ | $ 4,600,000 | |||||||
June 30, 2020 Public Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 6,770,000 | |||||||
Proceeds from Issuance of Common Stock | $ | $ 13,400,000 |
Note B - Liquidity and Uncert_2
Note B - Liquidity and Uncertainties (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Apr. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Proceeds from Issuance of Common Stock | $ 18,043,284 | $ 1,974,547 | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 14,223,917 | 1,516,272 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | $ 12,707,645 | $ 772,843 | ||
April 6, 2020 Public Offering [Member] | ||||
Proceeds from Issuance of Common Stock | $ 4,600,000 | |||
June 30, 2020 Public Offering [Member] | ||||
Proceeds from Issuance of Common Stock | $ 13,400,000 |
Note C - Summary of Significa_3
Note C - Summary of Significant Accounting Policies (Details Textual) | Apr. 27, 2020USD ($) | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares |
Number of Operating Segments | 2 | ||
Short-term Investments, Total | $ 13,100,000 | $ 302,000 | |
Cash, Uninsured Amount | 700,000 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 10,000 | 10,000 | |
Proceeds from Notes Payable, Total | 276,180 | ||
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | |
Options and Warrants [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 8,397,836 | 2,336,611 | |
State and Local Jurisdiction [Member] | |||
Open Tax Year | 2017 2018 2019 | ||
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Notes Payable, Total | $ 276,000 | ||
Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 2 years | ||
Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Note C - Summary of Significa_4
Note C - Summary of Significant Accounting Policies - Fair Value of Level 3 Instruments (Details) - Derivative Financial Instruments, Liabilities [Member] | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Balance at beginning of year | |
Warrants issued in connection with public offering (See Note I) | 376,497 |
Change in fair value of derivative liability | 422,484 |
Employee options reclassified as derivative liability | 500,000 |
Change in value of derivative securities – exercised | (655,000) |
Reversal of derivative liability for exercised warrants | 820,954 |
Reversal of Level 3 of derivative liability to equity upon authorized share increase | (1,464,935) |
Balance at end of period |
Note D - Inventories (Details T
Note D - Inventories (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Jul. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Milestone China [Member] | |||
Contract with Customer, Asset, Allowance for Credit Loss, Recovery | $ 151,000 | ||
Slow Moving Medical Finished Goods [Member] | |||
Inventory Valuation Reserves, Ending Balance | $ 450,000 | $ 450,000 | |
Slow Moving Dental Finished Goods [Member] | |||
Inventory Valuation Reserves, Ending Balance | 3,000 | $ 318,000 | |
Inventory Write-down | $ 315,000 |
Note D - Inventories - Summary
Note D - Inventories - Summary of Inventories (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Component parts and other materials | $ 331,711 | $ 99,885 |
Total inventories | 2,420,179 | 1,620,509 |
Dental Segment [Member] | ||
Finished goods, net | 1,888,141 | 1,306,763 |
Medical Segment [Member] | ||
Finished goods, net | $ 200,327 | $ 213,861 |
Note E - Advances on Contracts
Note E - Advances on Contracts (Details Textual) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Advances on Inventory Purchases | $ 414,202 | $ 710,662 |
Note F - Investment in and Tr_3
Note F - Investment in and Transactions with Equity Investees (Details Textual) - USD ($) | Apr. 29, 2020 | Jul. 31, 2020 | May 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Apr. 23, 2020 | Jun. 30, 2014 |
Share Price (in dollars per share) | $ 0.84 | |||||||
Income (Loss) from Equity Method Investments, Total | $ 97,887 | $ 81,324 | ||||||
Acquisition of Advanced Cosmetic Systems [Member] | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | |||||||
Business Combination, Consideration Transferred, Total | $ 900,000 | |||||||
Business Combination, Percentage of Ownership Interest that Seller of Ownership Interest May Repurchase Within One Year of Sale Date | 50.00% | |||||||
Business Combination, Price at Which the Additional Ownership Interest Acquired May Repurchased Within One Year of Sale Date | $ 900,000 | |||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total | 100.00% | |||||||
Manufacturing Agreement for Handpieces [Member] | ||||||||
Related Party Transaction, Purchases from Related Party | $ 370,260 | $ 1,850,000 | 1,200,000 | |||||
Sale Price in Cash [Member] | ||||||||
Related Party Transaction, Purchases from Related Party | 100,000 | $ 100,000 | ||||||
Sale Price in Share [Member] | ||||||||
Related Party Transaction, Purchases from Related Party | $ 170,260 | |||||||
Share Price (in dollars per share) | $ 1.59 | |||||||
Milestone China [Member] | ||||||||
Equity Method Investments | $ 1,000,000 | |||||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | ||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 2,800,000 | |||||||
Proceeds from Collection of Finance Receivables | $ 950,000 | |||||||
Number of Medical Instruments Sold | 100 | |||||||
Revenue from Related Parties | $ 75,000 | |||||||
Contract with Customer, Liability, Total | 183,000 | |||||||
Contract with Customer, Liability, Revenue Recognized | 259,000 | |||||||
Capitalized Contract Cost, Net, Total | 104,000 | |||||||
Due from Related Parties, Total | 1,400,000 | |||||||
Costs and Expenses, Related Party | $ 370,260 | |||||||
Equity Method Investment, Deferred Intercompany Profit (Loss), Percentage | 40.00% | |||||||
Income (Loss) from Equity Method Investments, Total | $ 97,887 | 81,324 | ||||||
Equity Method Investments, Accumulated Loss | 4,300,000 | |||||||
Milestone China [Member] | Accounts Receivable from Related Parties [Member] | ||||||||
Equity Method Investment, Deferred Intercompany Profit (Loss) | $ 243,000 | $ 340,000 | ||||||
Milestone Beijing [Member] | Milestone China [Member] | ||||||||
Equity Method Investment, Ownership Percentage | 75.00% | |||||||
Anhui [Member] | ||||||||
Equity Method Investment, Ownership Percentage | 28.40% |
Note F - Investment in and Tr_4
Note F - Investment in and Transactions with Equity Investees - Summarized Financial Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current assets | $ 18,554,869 | $ 6,077,171 | |
Total assets: | 19,571,450 | 6,556,289 | |
Current liabilities | 2,877,894 | 4,927,642 | |
Stockholders' deficit | 16,106,968 | 1,628,647 | $ 1,528,208 |
Total liabilities and stockholders’ deficit | 19,571,450 | 6,556,289 | |
Gross profit | 3,621,312 | 5,718,359 | |
Net loss | (7,388,812) | (7,580,240) | |
Milestone China [Member] | |||
Current assets | 8,392,858 | ||
Non-current assets | 5,082,313 | ||
Total assets: | 13,475,171 | ||
Current liabilities | 17,910,452 | ||
Stockholders' deficit | (4,435,281) | ||
Total liabilities and stockholders’ deficit | 13,475,171 | ||
Net sales | 3,401,025 | ||
Cost of goods sold | 1,724,882 | ||
Gross profit | 1,676,143 | ||
Other expenses | (3,996,663) | ||
Net loss | $ (2,320,520) | ||
Milestone China and Anhui [Member] | |||
Current assets | 4,726,883 | ||
Non-current assets | 4,040,327 | ||
Total assets: | 8,767,210 | ||
Current liabilities | 10,885,019 | ||
Stockholders' deficit | (2,117,809) | ||
Total liabilities and stockholders’ deficit | 8,767,210 | ||
Net sales | 4,183,774 | ||
Cost of goods sold | 2,895,092 | ||
Gross profit | 1,288,682 | ||
Other expenses | (5,376,391) | ||
Net loss | $ (4,087,709) |
Note G - Furniture, Fixtures _3
Note G - Furniture, Fixtures and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 42,937 | $ 47,495 |
Note G - Furniture, Fixtures _4
Note G - Furniture, Fixtures and Equipment - Summary of Furniture, Fixtures and Equipment (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Total | $ 30,729 | $ 44,976 |
Leasehold Improvements [Member] | ||
Furniture, fixtures and equipment | 24,734 | 24,734 |
Office Furniture and Equipment [Member] | ||
Furniture, fixtures and equipment | 174,147 | 134,947 |
Tools, Dies and Molds [Member] | ||
Furniture, fixtures and equipment | 7,200 | 7,200 |
Trade Show Displays [Member] | ||
Furniture, fixtures and equipment | 151,462 | 151,462 |
Computer and Software [Member] | ||
Furniture, fixtures and equipment | 262,290 | 280,577 |
Tooling Safety Wand [Member] | ||
Furniture, fixtures and equipment | 125,022 | 125,022 |
Tooling Equipment - STA and Wand [Member] | ||
Furniture, fixtures and equipment | 11,100 | 11,100 |
EPI and IA Instruments [Member] | ||
Furniture, fixtures and equipment | 82,363 | 82,363 |
STA Trials Instruments [Member] | ||
Furniture, fixtures and equipment | 63,752 | 63,752 |
Furniture and Fixtures [Member] | ||
Furniture, fixtures and equipment | 902,070 | 881,157 |
Less accumulated depreciation | (871,341) | (836,181) |
Total | $ 30,729 | $ 44,976 |
Note H - Patents (Details Textu
Note H - Patents (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Amortization of Intangible Assets, Total | $ 53,012 | $ 53,013 |
Finite-Lived Intangible Asset, Expected Amortization, Year One | 53,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 53,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 47,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Four | 33,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Five | 24,000 | |
Patents [Member] | ||
Amortization of Intangible Assets, Total | $ 53,013 | $ 53,013 |
Patents [Member] | Minimum [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |
Patents [Member] | Maximum [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years |
Note H - Patents - Summary of P
Note H - Patents - Summary of Patents (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Patents, cost | $ 1,377,863 | $ 1,377,863 |
Patents, impairment | (1,048,614) | (995,603) |
Patents, accumulated amortization | 329,249 | 382,260 |
Foundation Intellectual Property Patents [Member] | ||
Patents, cost | 1,377,863 | 1,377,863 |
Patents, impairment | (1,048,614) | (995,603) |
Patents, accumulated amortization | $ 329,249 | $ 382,260 |
Note I - Stockholders' Equity_2
Note I - Stockholders' Equity (Details Textual) - USD ($) | Jun. 30, 2020 | Dec. 17, 2019 | May 14, 2019 | Jun. 30, 2020 | Apr. 30, 2020 | Mar. 31, 2019 | Feb. 28, 2019 | May 31, 2014 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 17, 2019 | Dec. 31, 2018 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.97 | $ 0.50 | $ 2.55 | |||||||||
Proceeds from Stock Options Exercised | $ 384,146 | |||||||||||
Proceeds from Issuance of Private Placement | $ 250,000 | $ 10,000,000 | $ 250,000 | |||||||||
Share Price (in dollars per share) | $ 0.84 | |||||||||||
Proceeds from Issuance of Common Stock | $ 18,043,284 | $ 1,974,547 | ||||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance (in shares) | 2,428,329 | 2,375,760 | 2,470,566 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reclassified in Period (in shares) | 600,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reclassified in Period, Amount | $ 422,000 | |||||||||||
Reclassification of Shares to be Issued, Amount | $ 1,300,000 | |||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 1,163,775 | 675,000 | ||||||||||
Stock Issued During Period, Shares, Shares to be Issued (in shares) | 1,300,000 | |||||||||||
Gain (Loss) from Warrants Exercised | $ (500,000) | |||||||||||
Gain (Loss) on Issuance of Shares to be Issued | (500,000) | |||||||||||
Adjustments to Additional Paid in Capital, Warrants Exercised | 650,000 | |||||||||||
Adjustments to Additional Paid in Capital, Shares to be Issued | $ 1,070,000 | |||||||||||
Common Stock, Shares Authorized (in shares) | 75,000,000 | 85,000,000 | 85,000,000 | 75,000,000 | ||||||||
Shares To Be Issued, Marked To Market, Shares (in shares) | 2,100,000 | |||||||||||
Market to Market, Gain (Loss) | $ (500,000) | $ (2,600,000) | ||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Option | 380,000 | |||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Equity | 2,640,000 | $ 4,115,778 | $ 2,700,000 | |||||||||
Adjustments to Additional Paid in Capital, Warrants Exercised and Shares to be Issued | 4,100,000 | |||||||||||
Stock Issued During Period Shares, Warrants Exercised (in shares) | 675,000 | |||||||||||
Reclassification to Additional Paid in Capital | $ 1,070,000 | $ 655,000 | ||||||||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 500,000 | |||||||||||
Common Stock, Shares, To be Issued (in shares) | 2,100,000 | 2,100,000 | ||||||||||
Gain (Loss) on Liability Classified Shares to Be Issued | $ (1,800,000) | |||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||
Share Price (in dollars per share) | $ 1.28 | |||||||||||
Share based Compensation Arrangement By Share based Payment Award, Options Reclassified In Period, Marked To Market | 600,000 | |||||||||||
Market to Market, Gain (Loss) | $ 40,000 | $ 40,000 | ||||||||||
Shares To Be Issued [Member] | ||||||||||||
Reclassification of Shares to be Issued, Amount | 1,405,000 | |||||||||||
Market to Market, Gain (Loss) | $ (1,800,000) | |||||||||||
Chief Executive Officer, Chief Financial Officer and Employees [Member] | ||||||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance (in shares) | 2,256,844 | 2,226,473 | ||||||||||
Non-Employees [Member] | ||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 171,485 | 149,287 | ||||||||||
Preferred Stock Converted to Common Stock [Member] | ||||||||||||
Conversion of Stock, Conversion Price (in dollars per share) | $ 1.17 | |||||||||||
Conversion of Stock, Shares Issued (in shares) | 5,982,906 | |||||||||||
Warrants, Public Offering [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,428,750 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.50 | |||||||||||
Underwrite Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 141,850 | 141,850 | ||||||||||
Warrants, Private Offering [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 178,571 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.50 | |||||||||||
Warrants Associated With April 2020 Public Offering [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,710,000 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.20 | |||||||||||
Warrants Associated With the June 2020 Public Offering [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,749,000 | 3,749,000 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | 3 years | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.60 | $ 2.60 | ||||||||||
Warrants Issued in 2016 Capital Raise [Member] | ||||||||||||
Class of Warrant or Right, Reclassified During Period (in shares) | 1,600,000 | |||||||||||
Reclassification of Shares to be Issued, Shares (in shares) | 3,400,000 | |||||||||||
Class of Warrant or Right, Value, Reclassified During Period | $ 0 | |||||||||||
Class of Warrant or Right, Marked to Market (in shares) | 1,600,000 | |||||||||||
Market to Market, Gain (Loss) | $ 0 | $ 0 | ||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 1,095,000 | |||||||||||
Warrants Issued in 2019 Capital Raise [Member] | ||||||||||||
Class of Warrant or Right, Reclassified During Period (in shares) | 1,700,000 | |||||||||||
Class of Warrant or Right, Value, Reclassified During Period | $ 376,000 | |||||||||||
Class of Warrant or Right, Marked to Market (in shares) | 1,100,000 | |||||||||||
Market to Market, Gain (Loss) | $ (860,000) | $ (860,000) | ||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | 0 | |||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Option | $ 380,000 | |||||||||||
Warrants Previously Classified as Derivative Liability [Member] | ||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 665,000 | |||||||||||
The 2019 Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,749,171 | 1,084,171 | ||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 1,095,000 | |||||||||||
The 2016 Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,592,775 | 1,592,775 | ||||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 0 | |||||||||||
Public Offering [Member] | ||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,000,000 | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 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 (in shares) | 567,400 | 567,400 | ||||||||||
Private Placement [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 714,286 | 2,000,000 | ||||||||||
Proceeds from Issuance of Common Stock | $ 3,000,000 | |||||||||||
Shares Issued, Price Per Share (in dollars 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 (in shares) | 7,000 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1,000 | |||||||||||
Preferred Stock, Redemption Price Per Share (in dollars 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 (in dollars per share) | $ 1.50 | |||||||||||
April 6, 2020 Public Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 5,420,000 | |||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 5,100,000 | |||||||||||
Share Price (in dollars per share) | $ 0.95 | |||||||||||
Proceeds from Issuance of Common Stock | $ 4,600,000 | |||||||||||
June 30, 2020 Public Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,770,000 | |||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 14,600,000 | |||||||||||
Share Price (in dollars per share) | $ 2.15 | $ 2.15 | ||||||||||
Proceeds from Issuance of Common Stock | $ 13,400,000 |
Note I - Stockholders' Equity -
Note I - Stockholders' Equity - Warrants (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding, number of shares (in shares) | 1,074,171 | 1,592,775 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.50 | $ 2.55 | |
Outstanding, weighted average remaining life (Year) | 2 years 175 days | 4 years 36 days | 76 days |
Outstanding, intrinsic value | $ 2,784,117 | $ 956,012 | |
Issued, number of shares (in shares) | 6,459,000 | 1,749,171 | |
Issued, weighted average exercise price (in dollars per share) | $ 2.01 | $ 0.50 | |
Issued, weighted average remaining life (Year) | 3 years | 4 years 36 days | |
Issued, intrinsic value | $ 1,556,762 | ||
Exercised, number of shares (in shares) | (1,163,775) | (675,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ 0.85 | ||
Expired or cancelled (in shares) | (1,592,775) | ||
Expired or cancelled, weighted average exercise price (in dollars per share) | $ 2.55 | ||
Outstanding , number of shares (in shares) | 6,369,396 | 1,074,171 | 1,592,775 |
Outstanding , weighted average exercise price (in dollars per share) | $ 1.97 | $ 0.50 | $ 2.55 |
Note I - Stockholders' Equity_3
Note I - Stockholders' Equity - Summary of Shares to be Issued (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Shares-to-be-issued, outstanding (in shares) | 2,375,760 | 2,470,566 |
Granted in current period (in shares) | 642,667 | 2,103,793 |
Issued in current period (in shares) | (590,098) | (2,198,599) |
Shares-to be issued outstanding (in shares) | 2,428,329 | 2,375,760 |
Note I - Stockholders' Equity_4
Note I - Stockholders' Equity - Assumptions Used to Value Warrants at Grant Date (Details) | 12 Months Ended | |
Dec. 31, 2020$ / sharesshares | Dec. 31, 2019$ / sharesshares | |
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 0.84 | |
Share-based Payment Arrangement, Option [Member] | ||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.28 | |
Volatility, employee stock options, minimum | 91.80% | 92.00% |
Volatility, employee stock options, maximum | 102.30% | 102.00% |
Dividend yield, employee stock options | 0.00% | 0.00% |
Risk-free interest rate, employee stock options, minimum | 1.68% | 1.53% |
Risk-free interest rate, employee stock options, maximum | 1.53% | 1.63% |
Weighted average fair value of options granted, employee stock options (in dollars per share) | $ 0.72 | $ 0.64 |
Number of options granted (in shares) | shares | 592,358 | 592,358 |
Minimum [Member] | Share-based Payment Arrangement, Option [Member] | ||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.07 | |
Expected Term, employee stock options (Year) | 1 year 36 days | 1 year |
Exercise Price, employee stock options (in dollars per share) | $ 1.04 | $ 1.04 |
Maximum [Member] | Share-based Payment Arrangement, Option [Member] | ||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.60 | |
Expected Term, employee stock options (Year) | 2 years 80 days | 2 years 36 days |
Exercise Price, employee stock options (in dollars per share) | $ 2.09 | $ 2.09 |
The 2016 Warrants [Member] | ||
Weighted average fair value of securities granted, warrants (in dollars per share) | ||
Number of shares underlying securities granted, warrants (in shares) | shares | 1,592,775 | 1,592,775 |
The 2016 Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrants, measurement input | 1.28 | |
The 2016 Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, measurement input | 0.1 | |
The 2016 Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input | 38 | |
The 2016 Warrants [Member] | Measurement Input, Expected Dividend Rate [Member] | ||
Warrants, measurement input | 0 | 0 |
The 2016 Warrants [Member] | Measurement Input, Exercise Price [Member] | ||
Warrants, measurement input | 2.55 | 2.55 |
The 2016 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input | 1.56 | |
The 2016 Warrants [Member] | Minimum [Member] | Measurement Input, Share Price [Member] | ||
Warrants, measurement input | 0.36 | |
The 2016 Warrants [Member] | Minimum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, measurement input | 0.2 | |
The 2016 Warrants [Member] | Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input | 86 | |
The 2016 Warrants [Member] | Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input | 1.88 | |
The 2016 Warrants [Member] | Maximum [Member] | Measurement Input, Share Price [Member] | ||
Warrants, measurement input | 0.83 | |
The 2016 Warrants [Member] | Maximum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, measurement input | 0.5 | |
The 2016 Warrants [Member] | Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input | 100 | |
The 2016 Warrants [Member] | Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input | 2.09 | |
The 2019 Warrants [Member] | ||
Weighted average fair value of securities granted, warrants (in dollars per share) | $ 0.22 | $ 1.01 |
Number of shares underlying securities granted, warrants (in shares) | shares | 1,749,171 | 1,084,171 |
The 2019 Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrants, measurement input | 0.33 | 1.28 |
The 2019 Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, measurement input | 4.9 | 4.1 |
The 2019 Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input | 83 | 88 |
The 2019 Warrants [Member] | Measurement Input, Expected Dividend Rate [Member] | ||
Warrants, measurement input | 0 | 0 |
The 2019 Warrants [Member] | Measurement Input, Exercise Price [Member] | ||
Warrants, measurement input | 0.5 | 0.5 |
The 2019 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input | 2.3 | 1.71 |
Note I - Stockholders' Equity_5
Note I - Stockholders' Equity - Assumptions Used to Value Liability Classified Warrants Exercised (Details) - The 2019 Warrants [Member] | 12 Months Ended | |
Dec. 31, 2020$ / sharesshares | Dec. 31, 2019$ / sharesyrshares | |
Weighted average fair value of securities granted, warrants (in dollars per share) | $ 0.22 | $ 1.01 |
Number of shares underlying securities granted, warrants (in shares) | shares | 1,749,171 | 1,084,171 |
Warrants Liabilities Exercised [Member] | ||
Weighted average fair value of securities granted, warrants (in dollars per share) | $ 0.98 | |
Number of shares underlying securities granted, warrants (in shares) | shares | 665,000 | |
Measurement Input, Share Price [Member] | ||
Warrants, measurement input | 0.33 | 1.28 |
Measurement Input, Expected Term [Member] | ||
Warrants, measurement input | 4.9 | 4.1 |
Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input | 83 | 88 |
Measurement Input, Expected Dividend Rate [Member] | ||
Warrants, measurement input | 0 | 0 |
Measurement Input, Expected Dividend Rate [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0 | |
Measurement Input, Exercise Price [Member] | ||
Warrants, measurement input | 0.5 | 0.5 |
Measurement Input, Exercise Price [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.5 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input | 2.3 | 1.71 |
Minimum [Member] | Measurement Input, Share Price [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.83 | |
Minimum [Member] | Measurement Input, Expected Term [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | yr | 4.2 | |
Minimum [Member] | Measurement Input, Price Volatility [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.86 | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.0138 | |
Maximum [Member] | Measurement Input, Share Price [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 1.42 | |
Maximum [Member] | Measurement Input, Expected Term [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | yr | 4.3 | |
Maximum [Member] | Measurement Input, Price Volatility [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.87 | |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.0173 |
Note J - Stock Option Plans (De
Note J - Stock Option Plans (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2016 | Jun. 30, 2011 | |
Share Price (in dollars per share) | $ 0.84 | |||
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 592,358 | 592,358 | ||
Share-based Payment Arrangement, Amount Capitalized | $ 537,000 | $ 181,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 936,442 | $ 82,526 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 357 days | 1 year 273 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.68% | 1.53% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.53% | 1.63% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 91.80% | 92.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 102.30% | 102.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | ||
Share Price (in dollars per share) | $ 1.28 | |||
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 1 year 36 days | 1 year | ||
Share Price (in dollars per share) | $ 1.07 | |||
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 2 years 80 days | 2 years 36 days | ||
Share Price (in dollars per share) | $ 1.60 | |||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Employee [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,135,277 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.73% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.81% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 89.80% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 92.90% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Employee [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 3 years | |||
Share Price (in dollars per share) | $ 1.99 | |||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Employee [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 5 years | |||
Share Price (in dollars per share) | $ 2.16 | |||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Nonemployee [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 33,332 | 16,666 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.20% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 0.50% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 86.97% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 94.05% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||
Share-based Payment Arrangement, Expense | $ 13,600 | $ 2,400 | ||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Nonemployee [Member] | Minimum [Member] | ||||
Share Price (in dollars per share) | $ 1.65 | |||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Nonemployee [Member] | Maximum [Member] | ||||
Share Price (in dollars per share) | $ 1.75 | |||
Stock Option Plan 2011 [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 4,000,000 | 2,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 424,425 | |||
The 2020 Equity Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 2,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |||
The 2020 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 2,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years |
Note J - Stock Option Plans - S
Note J - Stock Option Plans - Summary of Option Activity for Employees and Non-employees (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Number of options granted (in shares) | 592,358 | 592,358 | |
Share-based Payment Arrangement, Employee [Member] | |||
Number of options (in shares) | 1,212,442 | 1,670,221 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.61 | $ 1.71 | |
Weighted average remaining contractual life, outstanding (Year) | 3 years 32 days | 2 years | 2 years 146 days |
Aggregate intrinsic value, outstanding | $ 476,964 | ||
Number of options granted (in shares) | 1,135,277 | ||
Weighted average exercise price, granted (in dollars per share) | $ 2 | ||
Weighted average remaining contractual life, granted (Year) | 4 years 299 days | ||
Aggregate intrinsic value, granted | $ 137,186 | ||
Number of options exercised (in shares) | (336,970) | ||
Weighted average exercise price, exercised (in dollars per share) | $ 1.14 | ||
Weighted average remaining contractual life, exercised (Year) | |||
Aggregate intrinsic value, exercised | |||
Number of options forfeited and expired (in shares) | (57,306) | (457,779) | |
Weighted average exercise price, forfeited or expired (in dollars per share) | $ 3.89 | $ 1.96 | |
Number of options (in shares) | 1,953,443 | 1,212,442 | 1,670,221 |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.88 | $ 1.61 | $ 1.71 |
Number of options exercisable (in shares) | 1,169,925 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.79 | ||
Weighted average remaining contractual life, exercisable (Year) | 1 year 328 days | ||
Aggregate intrinsic value, exercisable | $ 385,507 | ||
Number of options exercised (in shares) | 336,970 | ||
Share-based Payment Arrangement, Nonemployee [Member] | |||
Number of options (in shares) | 49,998 | 33,332 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.87 | $ 1.87 | |
Weighted average remaining contractual life, outstanding (Year) | 3 years 65 days | 2 years 343 days | 2 years 343 days |
Aggregate intrinsic value, outstanding | $ 54,748 | ||
Number of options granted (in shares) | 33,332 | 16,666 | |
Weighted average exercise price, granted (in dollars per share) | $ 1.71 | $ 0.55 | |
Weighted average remaining contractual life, granted (Year) | 4 years 219 days | 4 years 156 days | |
Aggregate intrinsic value, granted | $ 13,666 | $ 13,999 | |
Number of options exercised (in shares) | |||
Weighted average exercise price, exercised (in dollars per share) | |||
Number of options forfeited and expired (in shares) | (8,333) | ||
Weighted average exercise price, forfeited or expired (in dollars per share) | $ 2.70 | ||
Number of options (in shares) | 74,997 | 49,998 | 33,332 |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.41 | $ 1.87 | $ 1.87 |
Number of options exercisable (in shares) | 47,220 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.38 | ||
Weighted average remaining contractual life, exercisable (Year) | 2 years 200 days | ||
Aggregate intrinsic value, exercisable | $ 36,915 | ||
Number of options exercised (in shares) |
Note K - Employment Contract _2
Note K - Employment Contract and Consulting Agreements (Details Textual) - USD ($) | Dec. 01, 2016 | Jul. 31, 2017 |
Chief Executive Officer [Member] | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 280,000 | |
Chief Executive Officer, Employment Agreement Period (Year) | 1 year | |
Chief Executive Officer, Automatic Extended Employment Agreement Period (Year) | 1 year | |
Previous President and Chief Executive Officer [Member] | ||
Employment Agreement Term (Year) | 10 years | |
Employment Agreement, Base Compensation | $ 300,000 | |
Employment Agreement, Base Compensation, Cash | 100,000 | |
Employment Agreement, Base Compensation, Common Stock Value | $ 200,000 | |
Consulting Agreement, Term (Year) | 10 years | |
Consulting Agreement, Annual Payment | $ 100,000 |
Note L - Income Taxes (Details
Note L - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Loss Carryforwards, Valuation Allowance, Total | $ 0 | $ 0 |
Operating Loss Carryforwards, Expired | $ 3,400,000 | 4,500,000 |
Percentage of Valuation Allowance | 100.00% | |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | $ 24,000 | 18,000 |
Unrecognized Tax Benefits, Ending Balance | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | 0 |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 66,000,000 | 59,000,000 |
Open Tax Year | 2017 2018 2019 | |
State and Local Jurisdiction [Member] | ||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ (56,300,000) | $ (56,700,000) |
Open Tax Year | 2017 2018 2019 |
Note L - Income Taxes - Deferre
Note L - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Allowance for Doubtful Accounts | $ 2,000 | $ 2,000 |
Warranty Reserve | 5,000 | 5,000 |
Impaired Assets | ||
Inventory Reserve | 110,000 | 178,000 |
Deferred Officer's Compensation | 816,000 | 820,000 |
Depreciation and Amortization | (67,000) | (103,000) |
Net Operating Loss Carryforwards | 17,993,000 | 16,504,000 |
Tax Credits | 416,000 | 384,000 |
Other | 10,000 | (28,000) |
Subtotal | 19,285,000 | 17,762,000 |
Valuation allowance | (19,285,000) | (17,762,000) |
Non-current deferred tax asset |
Note L - Income Taxes - Reconci
Note L - Income Taxes - Reconciliation of the Statutory Tax Rates (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statutory rate | 21.00% | 21.00% |
State income tax-all states | 1.00% | 4.00% |
Warrant Revaluation | (11.00%) | |
NOL Expiration | (11.00%) | (22.00%) |
Other | 8.00% | (3.00%) |
Subtotal | 19.00% | (11.00%) |
Valuation allowance | (19.00%) | 11.00% |
Effective tax rate |
Note M - Segment and Geograph_3
Note M - Segment and Geographic Data (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Number of Reportable Segments | 2 |
Note M - Segment and Geograph_4
Note M - Segment and Geographic Data - Summary by Reporting and Operating Segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Product sales, net | $ 5,437,236 | $ 8,374,501 |
Operating Income (Loss) | (7,453,118) | (3,998,993) |
Depreciation and Amortization | 95,949 | 100,508 |
Income (loss) before taxes and equity in earnings of affiliates | (7,471,199) | (7,643,438) |
Total assets | 19,571,450 | 6,556,289 |
Corporate, Non-Segment [Member] | ||
Operating Income (Loss) | (4,932,062) | (4,424,620) |
Depreciation and Amortization | 80,360 | 76,323 |
Income (loss) before taxes and equity in earnings of affiliates | (4,936,116) | (8,064,603) |
Total assets | 12,612,147 | 957,238 |
Dental Segment [Member] | ||
Product sales, net | 5,421,436 | 8,336,901 |
Dental Segment [Member] | Operating Segments [Member] | ||
Product sales, net | 5,421,436 | 8,336,901 |
Operating Income (Loss) | 817,355 | 2,775,730 |
Depreciation and Amortization | 9,896 | 15,793 |
Income (loss) before taxes and equity in earnings of affiliates | 807,770 | 2,774,359 |
Total assets | 6,035,645 | 5,008,324 |
Medical Segment [Member] | ||
Product sales, net | 15,800 | 37,600 |
Medical Segment [Member] | Operating Segments [Member] | ||
Product sales, net | 15,800 | 37,600 |
Operating Income (Loss) | (3,338,411) | (2,350,103) |
Depreciation and Amortization | 5,693 | 8,392 |
Income (loss) before taxes and equity in earnings of affiliates | (3,342,853) | (2,353,194) |
Total assets | $ 923,658 | $ 590,727 |
Note M - Segment and Geograph_5
Note M - Segment and Geographic Data - Summary of Operations by Geographic Area (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Product sales, net | $ 5,437,236 | $ 8,374,501 |
Dental Segment [Member] | ||
Product sales, net | 5,421,436 | 8,336,901 |
Medical Segment [Member] | ||
Product sales, net | 15,800 | 37,600 |
Domestic [Member] | ||
Product sales, net | 2,120,186 | 4,526,604 |
Domestic [Member] | Dental Segment [Member] | ||
Product sales, net | 2,118,186 | 4,512,904 |
Domestic [Member] | Medical Segment [Member] | ||
Product sales, net | 2,000 | 13,700 |
Rest of World [Member] | ||
Product sales, net | 3,239,650 | 3,689,247 |
Rest of World [Member] | Dental Segment [Member] | ||
Product sales, net | 3,225,850 | 3,665,347 |
Rest of World [Member] | Medical Segment [Member] | ||
Product sales, net | 13,800 | 23,900 |
CHINA | ||
Product sales, net | 77,400 | 158,650 |
CHINA | Dental Segment [Member] | ||
Product sales, net | 77,400 | 158,650 |
CHINA | Medical Segment [Member] | ||
Product sales, net |
Note N - Concentrations (Detail
Note N - Concentrations (Details Textual) - Customer Concentration Risk [Member] | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue Benchmark [Member] | ||
Number of Customers | 1 | 1 |
Revenue Benchmark [Member] | Domestic Distributor [Member] | ||
Concentration Risk, Percentage | 38.00% | 46.00% |
Accounts Receivable [Member] | Domestic Distributor [Member] | ||
Concentration Risk, Percentage | 69.00% | 71.00% |
Note O - Related Party Transa_2
Note O - Related Party Transactions (Details Textual) - USD ($) | Apr. 29, 2020 | Feb. 28, 2019 | Jan. 31, 2017 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 02, 2021 | Mar. 01, 2021 | Jun. 30, 2014 |
Stock Issued During Period, Value, Issued for Services | $ 67,144 | |||||||||
Director [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 275,000 | 380,000 | ||||||||
Consultant [Member] | Forecast [Member] | ||||||||||
Stock Issued During Period, Value, Issued for Services | $ 60,000 | |||||||||
Director of Clinical Affairs [Member] | ||||||||||
Royalty Expense | 267,000 | 403,000 | ||||||||
Professional Fees | 156,000 | 156,000 | ||||||||
Accounts Payable, Related Parties | $ 127,000 | 390,000 | ||||||||
Director of Clinical Affairs [Member] | Subsequent Event [Member] | ||||||||||
Royalty on Net Sales, Percentage | 2.50% | 5.00% | ||||||||
Interim Chief Executive Officer [Member] | Subsequent Event [Member] | ||||||||||
Royalty on Net Sales, Percentage | 2.50% | |||||||||
Interim Chief Executive Officer and the Director of Clinical Affairs [Member] | Subsequent Event [Member] | ||||||||||
Royalty on Net Sales, Percentage | 5.00% | |||||||||
Milestone China [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | ||||||||
Manufacturing Agreement for Handpieces [Member] | ||||||||||
Related Party Transaction, Purchases from Related Party | $ 370,260 | $ 1,850,000 | 1,200,000 | |||||||
Due to Related Parties, Total | 362,000 | 943,000 | ||||||||
Consulting Services [Member] | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 100,000 | 100,000 | ||||||||
Consulting Services [Member] | United Systems [Member] | ||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 285,714 | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.35 | |||||||||
Stock Issued During Period, Value, Issued for Services | $ 100,000 | |||||||||
Consultant [Member] | Innovest S.p.A. [Member] | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 60,000 | $ 80,000 | ||||||||
Consulting Services Agreement, Term (Month) | 1 year |
Note P - Commitments (Details T
Note P - Commitments (Details Textual) | Jan. 01, 2005 | Aug. 31, 2019USD ($) | Jul. 31, 2019 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Advances on Inventory Purchases | $ 414,202 | $ 710,662 | |||
Operating Lease, Right-of-Use Asset | 632,453 | 15,977 | |||
Operating Lease, Liability, Total | 630,012 | 15,977 | |||
Operating Lease, Liability, Current | 72,031 | 12,073 | |||
Operating Lease, Liability, Noncurrent | 557,981 | ||||
Operating Lease and Finance Lease, Liability, Current | 15,977 | ||||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 43,242 | ||||
Finance Lease, Liability, Total | 36,403 | ||||
Finance Lease, Liability, Current | 7,796 | 3,904 | |||
Finance Lease, Liability, Noncurrent | 28,607 | ||||
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% | ||||
Director of Clinical Affairs [Member] | |||||
Royalty Expense | 267,000 | 403,000 | |||
Professional Fees | 156,000 | 156,000 | |||
Accounts Payable, Related Parties | $ 127,000 | $ 390,000 | |||
Office Lease for Headquarter in Livingston, New Jersey [Member] | |||||
Lessee, Operating Lease, Term of Contract (Year) | 7 years | ||||
Lessee, Operating Lease, Electric Charge Per Square Foot | $ 2 | ||||
Lessee, Operating Lease, Electric Payments, Annually | 11,130 | ||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | Minimum [Member] | |||||
Operating Leases, Monthly Rent Expense | 9,275 | ||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | Maximum [Member] | |||||
Operating Leases, Monthly Rent Expense | $ 10,898 | ||||
Copiers Lease Agreement [Member] | |||||
Lessee, Finance Lease, Term of Contract (Year) | 5 years | ||||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 34,683 | ||||
Purchase Commitment for Devices [Member] | |||||
Purchase Commitment Number Of Units | 1,400 | ||||
Purchase Commitment, Remaining Minimum Amount Committed | 147,224 | ||||
Advances on Inventory Purchases | 100,090 | ||||
Purchase Commitment for Devices Begining in 2020 [Member] | |||||
Purchase Commitment, Remaining Minimum Amount Committed | 607,735 | ||||
Advances on Inventory Purchases | 259,435 | ||||
Purchase Commitment For Devices Beginning In 2021 [Member] | |||||
Advances on Inventory Purchases | $ 55,000 |
Note P - Commitments - Lease Ex
Note P - Commitments - Lease Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid for operating lease liabilities | $ 109,654 | $ 158,218 |
Cash paid for finance lease liabilities | 10,307 | |
Right-of-use assets obtained in exchange for new operating lease liabilities (1) | (663,009) | |
Property and equipment obtained in exchange for new finance lease liabilities | $ (43,242) | |
Weighted-average remaining lease term- finance leases (Year) | 4 years 14 days | 73 days |
Weighted-average remaining lease term - operating leases (Year) | 6 years 91 days | |
Weighted-average discount rate - operating leases | 9.20% | 9.20% |
Note P - Commitments - Maturiti
Note P - Commitments - Maturities of Lease Liabilities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
2020 | $ 16,030 | |
2021 | $ 135,953 | |
2022 | 138,735 | |
2023 | 141,518 | |
2024 | 144,300 | |
2025 | 136,776 | |
Thereafter | 174,602 | |
Total lease payments | 871,884 | 16,030 |
Less: interest | (205,469) | (53) |
Present value of lease liabilities | $ 630,012 | $ 15,977 |
Note R - Subsequent Events (Det
Note R - Subsequent Events (Details Textual) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jan. 31, 2021USD ($) | Jul. 31, 2019 | Mar. 29, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($)$ / sharesshares | Mar. 02, 2021 | Mar. 01, 2021 | Dec. 31, 2018$ / shares | |
Stock Issued During Period Shares, Warrants Exercised (in shares) | shares | 675,000 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.97 | $ 0.50 | $ 2.55 | |||||
Proceeds from Warrant Exercises | $ 1,018,023 | $ 337,500 | ||||||
Purchase Commitment for Devices [Member] | ||||||||
Purchase Commitment Number Of Units | 1,400 | |||||||
Purchase Commitment, Remaining Minimum Amount Committed | $ 147,224 | |||||||
Subsequent Event [Member] | Interim Chief Executive Officer [Member] | ||||||||
Royalty on Net Sales, Percentage | 2.50% | |||||||
Subsequent Event [Member] | Director of Clinical Affairs [Member] | ||||||||
Royalty on Net Sales, Percentage | 2.50% | 5.00% | ||||||
Subsequent Event [Member] | Interim Chief Executive Officer and the Director of Clinical Affairs [Member] | ||||||||
Royalty on Net Sales, Percentage | 5.00% | |||||||
Subsequent Event [Member] | Purchase Commitment for Devices [Member] | ||||||||
Purchase Commitment Number Of Units | 2,000 | |||||||
Purchase Commitment, Remaining Minimum Amount Committed | $ 1,518,364 | |||||||
Warrants with 0.50 Exercise Price [Member] | Subsequent Event [Member] | ||||||||
Stock Issued During Period Shares, Warrants Exercised (in shares) | shares | 147,625 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.50 | |||||||
Proceeds from Warrant Exercises | $ 73,813 | |||||||
Warrants with 1.20 Exercise Price [Member] | Subsequent Event [Member] | ||||||||
Stock Issued During Period Shares, Warrants Exercised (in shares) | shares | 1,190,700 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.20 | |||||||
Proceeds from Warrant Exercises | $ 1,428,840 | |||||||
Warrants with 2.60 Exercise Price [Member] | Subsequent Event [Member] | ||||||||
Stock Issued During Period Shares, Warrants Exercised (in shares) | shares | 580,601 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.60 | |||||||
Proceeds from Warrant Exercises | $ 1,509,563 |