Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 30, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | MILESTONE SCIENTIFIC INC. | ||
Entity Central Index Key | 855,683 | ||
Trading Symbol | mlss | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 33,158,238 | ||
Entity Public Float | $ 27,489,612 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 2,636,956 | $ 3,602,229 |
Accounts receivable, net | 1,535,513 | 802,384 |
Accounts receivable from related party | 1,725,450 | 2,714,600 |
Other receivable | 10,000 | |
Notes receivable from financing transaction, short term | 500,000 | |
Prepaid expenses and other current assets | 436,410 | 291,929 |
Deferred cost related party | 1,109,671 | 620,041 |
Total | 3,379,209 | 4,602,719 |
Advances on contracts | 697,192 | 700,900 |
Total current assets | 12,020,401 | 13,344,802 |
Furniture, fixtures & equipment net | 141,760 | 159,026 |
Patents, net | 2,789,748 | 660,457 |
Notes receivable from financing transaction long term | 650,000 | |
Other assets | 26,878 | 17,355 |
Total assets | 15,628,787 | 14,181,640 |
Current Liabilities: | ||
Accounts payable | 977,623 | 1,341,207 |
Accounts payable related party | 985,678 | 1,235,052 |
Accrued expenses and other payables | 2,287,908 | 1,436,262 |
Deferred profit, related party | 751,500 | 630,990 |
Deferred revenue, related party | 1,725,450 | 1,001,800 |
Total current liabilities | 6,728,159 | 5,645,311 |
Deferred gain from financing transaction | 1,400,000 | |
Total liabilities | 8,128,159 | 5,645,311 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, and 7,000 shares issued and outstanding as December 31, 2017 and 2016. | 7 | 7 |
Common stock, par value $.001; authorized 50,000,000 shares; 33,191,571 shares issued, 1,401,247 shares to be issued and 33,158,238 shares outstanding as of December 31, 2017; 30,457,224 shares issued, 1,270,481 shares to be issued and 30,423,891 shares outstanding as of December 31, 2016 | 34,593 | 31,720 |
Additional paid-in capital | 86,689,084 | 82,761,503 |
Accumulated deficit | (78,568,284) | (73,381,491) |
Treasury stock, at cost, 33,333 shares | (911,516) | (911,516) |
Total Milestone Scientific Inc. stockholders' equity | 7,243,884 | 8,500,223 |
Noncontrolling interest | 256,744 | 36,106 |
Total equity | 7,500,628 | 8,536,329 |
Total liabilities and stockholders’ equity | $ 15,628,787 | $ 14,181,640 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 7,000 | 7,000 |
Preferred stock, shares outstanding (in shares) | 7,000 | 7,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 33,191,571 | 30,457,224 |
Common stock, shares to be issued (in shares) | 1,401,247 | 1,270,481 |
Common stock, shares outstanding (in shares) | 33,158,238 | 30,423,891 |
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, 2017 | Dec. 31, 2016 | |
Revenue | ||
Product sales, net | $ 11,281,886 | $ 10,482,005 |
Cost of products sold | 4,312,507 | 4,175,533 |
Gross profit | 6,969,379 | 6,306,472 |
Selling, general and administrative expenses | 11,930,951 | 11,549,961 |
Research and development expenses | 272,746 | 1,270,471 |
Total operating expenses | 12,203,697 | 12,820,432 |
Loss from operations | (5,234,318) | (6,513,960) |
Other expenses | (4,930) | (5,088) |
Interest income | 9,298 | 1,285 |
Loss before provision for income tax and equity in net earnings of equity investments | (5,229,950) | (6,517,763) |
(Provision) benefit for income tax | (19,093) | 19,101 |
Loss before equity in net earnings of equity investments | (5,249,043) | (6,498,662) |
Loss on earnings from China Joint Venture | (120,510) | (795,827) |
Net loss | (5,369,553) | (7,294,489) |
Net loss attributable to noncontrolling interests | (182,760) | (1,347,982) |
Net loss attributable to Milestone Scientific Inc. | $ (5,186,793) | $ (5,946,507) |
Net loss per share applicable to common stockholders— | ||
Basic (in dollars per share) | $ (0.16) | $ (0.22) |
Diluted (in dollars per share) | $ (0.16) | $ (0.22) |
Weighted average shares outstanding and to be issued— | ||
Basic (in shares) | 32,703,897 | 26,966,988 |
Diluted (in shares) | 32,703,897 | 26,966,988 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - USD ($) | Milestone Education LLC [Member]Preferred Stock [Member] | Milestone Education LLC [Member]Common Stock [Member] | Milestone Education LLC [Member]Additional Paid-in Capital [Member] | Milestone Education LLC [Member]Retained Earnings [Member] | Milestone Education LLC [Member]Noncontrolling Interest [Member] | Milestone Education LLC [Member]Treasury Stock [Member] | Milestone Education LLC [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] | Underwritten Public Offering [Member]Preferred Stock [Member] | Underwritten Public Offering [Member]Common Stock [Member] | Underwritten Public Offering [Member]Additional Paid-in Capital [Member] | Underwritten Public Offering [Member]Retained Earnings [Member] | Underwritten Public Offering [Member]Noncontrolling Interest [Member] | Underwritten Public Offering [Member]Treasury Stock [Member] | Underwritten Public Offering [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, 2015 | 7,000 | 22,685,160 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2015 | $ 16,346 | $ 16,346 | $ 7 | $ 22,685 | $ 78,632,383 | $ (67,434,984) | $ (1,143,083) | $ (911,516) | $ 9,165,492 | |||||||||||||||||||
Stock based compensation | 580,347 | 580,347 | ||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 14,181 | |||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 14 | 29,986 | 30,000 | |||||||||||||||||||||||||
Common stock to be issued to employee for stock program (in shares) | 31,053 | |||||||||||||||||||||||||||
Common stock to be issued to employee for stock program | $ 31 | 58,969 | 59,000 | |||||||||||||||||||||||||
Common stock issued to employee for exercise of stock options (in shares) | 327,778 | |||||||||||||||||||||||||||
Common stock issued to employee for exercise of stock options | $ 328 | 137,172 | 137,500 | |||||||||||||||||||||||||
Common stock issued for payment of consulting services (in shares) | 270,526 | |||||||||||||||||||||||||||
Common stock issued for payment of consulting services | $ 263 | 504,150 | 504,413 | |||||||||||||||||||||||||
Common stock to be issued to employee for bonuses (in shares) | 259,765 | |||||||||||||||||||||||||||
Common stock to be issued to employee for bonuses | $ 260 | 539,240 | 539,500 | |||||||||||||||||||||||||
Sale of Common Stock (in shares) | 1,104,200 | 2,000,000 | ||||||||||||||||||||||||||
Sale of Common Stock | $ 1,104 | $ 2,223,896 | $ 2,225,000 | $ 2,000 | $ 2,571,220 | $ 2,573,220 | ||||||||||||||||||||||
Common Stock exchanged for MMD (in shares) | 5,035,042 | |||||||||||||||||||||||||||
Common Stock exchanged for MMD | $ 5,035 | (2,515,860) | 2,510,825 | |||||||||||||||||||||||||
Net loss | (5,946,507) | (1,347,982) | (7,294,489) | |||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2016 | 7,000 | 31,727,705 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | $ 7 | $ 31,720 | 82,761,503 | (73,381,491) | 36,106 | (911,516) | 8,536,329 | |||||||||||||||||||||
Stock based compensation | 651,413 | 651,413 | ||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 10,913 | |||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 11 | 14,989 | 15,000 | |||||||||||||||||||||||||
Common stock issued to employee for exercise of stock options (in shares) | 83,333 | |||||||||||||||||||||||||||
Common stock issued to employee for exercise of stock options | $ 83 | 62,417 | 62,500 | |||||||||||||||||||||||||
Common stock issued for payment of consulting services (in shares) | 410,729 | |||||||||||||||||||||||||||
Common stock issued for payment of consulting services | $ 419 | 548,092 | 548,511 | |||||||||||||||||||||||||
Common stock to be issued to employee for bonuses (in shares) | 158,082 | |||||||||||||||||||||||||||
Common stock to be issued to employee for bonuses | $ 158 | 259,834 | 259,992 | |||||||||||||||||||||||||
Sale of Common Stock (in shares) | 123,700 | |||||||||||||||||||||||||||
Sale of Common Stock | $ 124 | $ 150,712 | $ 150,836 | |||||||||||||||||||||||||
Common Stock exchanged for MMD (in shares) | 311,998 | |||||||||||||||||||||||||||
Common Stock exchanged for MMD | $ 312 | (403,710) | 403,398 | |||||||||||||||||||||||||
Net loss | (5,186,793) | (182,760) | (5,369,553) | |||||||||||||||||||||||||
Common stock issued for asset acquisition (in shares) | 1,646,358 | |||||||||||||||||||||||||||
Common stock issued for asset acquisition | $ 1,646 | 2,484,354 | 2,486,000 | |||||||||||||||||||||||||
Common stock issued to directors for bonuses (in shares) | 120,000 | |||||||||||||||||||||||||||
Common stock issued to directors for bonuses | $ 120 | 159,480 | 159,600 | |||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 7,000 | 34,592,818 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 7 | $ 34,593 | $ 86,689,084 | $ (78,568,284) | $ 256,744 | $ (911,516) | $ 7,500,628 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (5,369,553) | $ (7,294,489) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 62,475 | 92,667 |
Amortization of patents | 510,676 | 70,699 |
Stock compensation | 651,413 | 1,850,760 |
Loss China joint venture | 120,510 | 795,827 |
Increase inventories allowance | 219,834 | |
Changes in operating assets and liabilities: | ||
(Increase) Decrease in accounts receivable | (733,129) | 635,017 |
Decrease (Increase) in accounts receivable related party | 989,150 | (1,727,210) |
Decrease in other receivable | 10,000 | 48,515 |
Decrease (Increase) in inventories | 1,003,676 | (509,462) |
Decrease to advances on contracts | 3,708 | 514,228 |
(Increase) Decrease in prepaid expenses and other current assets | (144,481) | 12,675 |
(Increase) Decrease in other assets | (9,523) | |
(Decrease) Increase in accounts payable | (363,584) | 486,348 |
Decrease in accounts payable related party | (249,374) | |
Decrease in deferred profit, related party | (489,630) | (620,041) |
Increase (Decrease)in accrued expenses and other payables | 1,834,749 | (755,915) |
Increase in deferred revenue | 723,650 | 1,001,800 |
Net cash used in operating activities | (1,229,434) | (5,398,581) |
Cash flows from investing activities: | ||
Purchase of intangible assets | (39,520) | (15,615) |
Purchase of property and equipment | (6,008) | (15,344) |
Purchase of intangibles assets-APAD | (153,647) | |
Consolidation of variable interest entity | 39,165 | |
Net cash (used in) provided by investing activities | (199,175) | 8,206 |
Cash flows from financing activities: | ||
Net proceeds on Private Placement Offering | 2,225,000 | |
Net proceeds on Public offering | 150,836 | 2,573,220 |
Proceed from financing transaction | 250,000 | |
Proceeds from exercise of stock options | 62,500 | |
Net cash provided by financing activities | 463,336 | 4,798,220 |
Net decrease in cash and cash equivalents | (965,273) | (592,155) |
Cash and cash equivalents at beginning of period | 3,602,229 | 4,194,384 |
Cash and cash equivalents at end of period | 2,636,956 | 3,602,229 |
Supplemental disclosure of cash flow information: | ||
Net assets acquired from variable entity | 16,346 | |
Income tax paid | ||
Shares issued to acquire APAD technology | 2,486,000 | |
Sale of Milestone China shares, financing transaction | 1,150,000 | |
Shares issued to employees for bonus | 194,885 | 389,318 |
Shares issued to consultants in lieu of cash payments | $ 350,249 | $ 366,299 |
Note A - Organization and Busin
Note A - Organization and Business | 12 Months Ended |
Dec. 31, 2017 | |
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® 53 no June 2017, 510 CompuFlo During 2016, 510 In June 2017, CompuFlo In December 2016, 510 we did not 510 510 2018. On July 13, 2017, ’ computer-controlled injection device (the “Purchased Assets”.) |
Note B - Liquidity and Uncertai
Note B - Liquidity and Uncertainties | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE B- LIQUIDITY AND UNCERTAINTIES In accordance with ASC 205 40, one since its inception. The capital raised in December 2016 January 2017 one June 2017 June 2017 CompuFlo Management believes that Milestone Scientific will have sufficient cash reserves to meet its anticipated obligations over the next twelve 10K. may The Company is subject to several risks similar to those of development stage companies, including dependence on key individuals and products, the difficulties inherent in the development of a commercial market, the potential need to obtain additional capital necessary to fund the development of its products, competition from larger companies, and other medical device companies that develop similar or substitute products. The Company's sales performance, selling and marketing expenditures to develop sales performance, as well as the status of each of its new product development programs and the resulting operating income (loss), will significantly impact its cash requirements. |
Note C - Summary of Significant
Note C - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
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). Milestone Education is a variable interest entity of which Milestone Scientific is the primary beneficiary and is consolidated into Milestone Scientific's financial statements. All significant, intra-entity transactions and balances have been eliminated in the consolidation. 2. Certain reclassifications have been made to the 2016 2017 no 3. 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. Milestone Scientific is the primary beneficiary of Milestone Education as of January 2016. Because Milestone Scientific had an increasing variable interest in Milestone China, it further considered the guidance in Accounting Standard Codification ("ASC") 810 not ● 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 management does not not 53% not 810. not 4. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three 5. Accounts Receivable Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the inability of its customers to make payments on amounts billed. Most of credit sales are due within ninety not December 31, 2017, 2016 $10,000 6 . Note Receivable Milestone Scientific values note receivable at historic cost less amount paid against principle. Milestone Scientific estimates losses on the note-based payments and credit quality of the debtor. 7. Product Return and Warranty Milestone Scientific generally does not not 8. Inventories Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first December 31, 2017, 2016 $220,000 December 31, 2017 $0 December 31,2016 9. Equity Method Investments Investments in which Milestone Scientific can exercise significant influence, but do not may 10. Furniture, Fixture and Equipment 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 December 31, 2017, 2016 $721,619 $659,144 11. Intangible Assets – Patents and Developed Technology 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 will be amortized at the estimated average useful life of the patent. These patents and developed technology are recorded at the acquisition cost. Patent defense costs, to the extent applicable, are expensed as incurred. Patent applications filed, and patents obtained in foreign countries are subject to the laws and procedures that differ from those in the United States. Patent protection in foreign countries may may not no 12. As of December 31, 2017, no no December 31, 2017 2016 13. Revenue from product sales is recognized, net of discounts and allowances to domestic distributors, on the date of shipment for substantially all shipments, since the shipment terms are FOB warehouse. Milestone Scientific recognizes revenue on date of arrival of the goods at the customer's location, where shipments are FOB destination. In all cases the price to the buyer is fixed and the collectability is reasonably assured. Further, Milestone Scientific has no not no Milestone Scientific defers the total revenue and costs of goods sold when devices and handpieces are shipped to Milestone China and Milestone China ’s agent due to market conditions and Milestone China liquidity concerns. Also, 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% not third 14. Milestone Scientific includes shipping and handling costs, if any, in cost of goods sold. These costs are paid by or billed to customers at the time of shipments. Domestic and international shipments are FOB warehouse; therefore, no 15. Research and development costs, which consist principally of new product development costs payable to third 16. 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. 17. 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 Statement of Financial Accounting Standards ASC Topic 260. Since Milestone Scientific had net losses for 2017 2016, not 3,679,152 3,329,769 December 31, 2017 2016, 18. 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 . 19. Fair Value Measurements: 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 20. Milestone Scientific accounts for stock-based compensation under ASC Topic 718, 718 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. In accordance with the provisions of FASB ASC 505, twelve December 31, 2017, $9,384 twelve December 31, 2016, $25,346 21. Recent Acc In May 2014, five 1 2 3 4 5 In August 2015, one December 15, 2017. not In February 2016, No.2016 02, 842 December 15, 2018. In June 2016, No.2016 13, – Credit Losses” (Topic 326 December 15, 2018. In August 2016, No.2016 15, 230 December 15, 2017. not In November 2016, No.2016 18, – Restricted Cash” (Topic 230 December 15, 2017 not In May 2017, No.2017 09, – Stock Compensation” (Topic 718 December 15, 2017. In July 2017, No.2017 11, 260 480 815 December 15, 2018. In November 2017, No.2017 14, – Reporting Comprehensive Income” (Topic 815 605 606 not |
Note D - Notes Receivable
Note D - Notes Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE D — NOTES RECEIVABLE In June 2017, forty 40% 10 $1,400,000 $125,000 $1,275,000 $125,000 and is secured by the Milestone China Shares until full repayment. In addition, the purchaser is precluded from selling all or substantially all its assets prior to repayment of the note. The 10 $1,400,000 first two 10 As of March 2, 2018, may $250,000 not not The transaction has been accounted for as a secured financing and Milestone Scientific will continue to account for its relationship with Milestone China under the equity method of accounting. A note receivable is presented on the Company’s balance sheet, along with a deferral from financing transaction ( $1,400,000 forty 40% |
Note E - Inventories
Note E - Inventories | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE E — INVENTORIES December 31 2017 2016 Inventories consist of the following: Dental finished goods $ 2,846,272 $ 3,832,275 Medical finished goods, net 475,285 735,061 Component parts and other materials 57,652 35,383 Total $ 3,379,209 $ 4,602,719 At December 31, 2017, $220,000. reserve was provided due to the delay in commercialization of the intra-articular medical instrument. There were no December 31, 2016. |
Note F - Advances on Contracts
Note F - Advances on Contracts | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Advances to Contract Manufacturer [Text Block] | NOTE F — ADVANCES ON CONTRACTS The advances on contracts represent funding of future STA inventory purchases and Epidural replacements parts. The balance of the advances as of December 31, 2017 2016 $697,192 $700,900, |
Note G - Consolidation of Varia
Note G - Consolidation of Variable Interest Entity | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] | NOTE G – CONSOLIDATION OF VARIABLE INTEREST ENTITY 50% 2013 81% December 31, 2017 2016. |
Note H - Investment in Unconsol
Note H - Investment in Unconsolidated Subsidiaries | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE H – INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES Advance Ocular Science SA Advanced Ocular Sciences SA ("Advanced Ocular") is a shell company attempting to develop an instrument to deliver injections into the eyes. As of December 31, 2017, 25% 2015, $78,798 2016. $78,798 December 31, 2016. not December 31, 2017 no no Milestone China Ltd. In June 2014, $1 772 40% $0 $795,827, December 31, 2017 2016, $0 December 31, 2017 2016, $3,147470 $1,124,350 December 31, 2017 2016, In June 2017, 10 $1,400,000 $125,000 $1,275,000 $125,000 10 40% $1,400,000 first two 10 $1,400,000 forty 40% As of March 2, 2018, may $250,000 not not Milestone Scientific had $2,071,000 ’s agent for twelve December 31, 2017. $3,425,000 twelve December 31, 2016. 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% not third December 31, 2017 2016, $751,500 $630,990, twelve December 31, 2017 2016, $120,510 $795,827, The following table includes summarized financial information (unaudited) of Milestone China: December 31, 2017 December 31, 2016 Assets: Current assets $ 13,127,422 $ 9,362,198 Non-current assets 3,213,520 2,467,547 Total assets: 16,340,942 11,829,745 Liabilities: Current liabilities 18,468,937 9,900,611 Stockholders' equity (2,127,995) 1,929,134 Total liabilities and stockholders ’ equity $ 16,340,942 $ 11,829,745 December 31, 2017 December 31, 2016 Net sales $ 1,666,605 $ 1,126,484 Cost of goods sold 477,200 976,106 Gross Profit 1,189,405 150,378 Other Expenses (6,247,205) (2,834,980 ) Net Losses $ (5,057,800) $ (2,684,602 ) |
Note I - Furniture, Fixtures an
Note I - Furniture, Fixtures and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE I — FURNITURE, FIXTURES AND EQUIPMENT December 31 2017 2016 Furniture, Fixtures and Equipment consist of the following: Leasehold improvements $ 24,734 $ 24,734 Office furniture and equipment 134,947 135,802 Molds 7,200 7,200 Trade show displays 143,357 143,357 Computers and software 231,704 224,840 Tooling Safety Wand 125,022 125,022 Website 39,200 - Tooling equipment-STA & Wand 11,100 11,100 EPI and IA Instruments 82,363 82,363 STA Trials Instruments 63,752 63,752 Total 863,379 818,170 Less accumulated depreciation (721,619 ) (659,144 ) Total $ 141,760 $ 159,026 Depreciation expense was $62,475 $92,667 years ended December 31, 2017 2016, |
Note J - Patents
Note J - Patents | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE J — PATENTS 2017 2016 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Patents-foundation intellectual property 1,377,863 (787,821 ) 590,042 1,377,543 (717,086 ) 660,457 Epidural-Apad acquired patents 2,639,647 (439,941 ) 2,199,706 - - - Total 4,017,510 (1,227,762 ) 2,789,748 1,377,543 (717,086 ) 660,457 Patents are amortized utilizing the straight-line method over estimated useful lives ranging from 3 to 20 5 $510,676 $70,699 December 31, 2017 2016, 2018 2022 $945,000, $932,000, $486,000, $39,000 $38,000. On July 13, 2017, 1,646,358 $2,486,000 not twenty-five 250,000 December 31, 2017, $275,000 $153,000 $2,639,000 three |
Note K - Stockholders' Equity
Note K - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE K — STOCKHOLDERS’ EQUITY ISSUANCES COMMON STOCK In June 2016, $2.0 one million $2.00 May 2014 In July 2016, $250,000 104,200 $2.40 July 22, 2016, 3 No.: 333 209466 In December 2016, 2,000,000 1,592,775 92,775 0.75 .75 $1.50 $3,000,000. three $2.55 January 2017, 123,700 $1.499 $186,000. $3,200,000, $4461,493. In January 2017, 123,700 $1.499 $186,000 PREFERRED STOCK In May 2014, $10 $3 two million $1.50 $7 7,000 $1,000 $2.37 May 14, 2019, $1.50 not SH ARES TO BE ISSUED As of December 31, 2017, 2016, 1,401,247 1,270,481 SHARES RESERVED FOR FUTURE ISSUANCE At December 31, 2017 2016 5,111,582 4,600,250 3,710,335 3,329,769 December 31, 2017 2016 1,401,247 1,270,481 |
Note L - Stock Option Plans
Note L - Stock Option Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE L — STOCK OPTION PLANS The 2004 750,000 may not three five no December 31, 2017 In June 2011, 2011 "2011 2,000,000 three five In May 2016, 2011 i . Renaming of the 2011 2011 ii . Providing for awards of restricted common stock; and iii . Increasing the maximum number of shares of common stock reserved for grants under the 2011 2,000,000 4,000,000. Milestone Scientific recognizes compensation expense on a straight-line basis 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, 2017 2016 $636,058 $579,103 December 31, 2017, 2016, $603,979 $678,842 2.61 3.04 December 31, 2017 2016, A summary of option activity for employees under the plans and changes during the years ended December 31, 2017, 2016 Number of Options Wei ghted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2016 1,419,436 1.56 2.79 1,220,338 Exercisable, January 1, 2016 1,041,680 1.29 2.41 1,135,819 Granted 520,337 1.79 4.38 Exercised during 2016 (327,778 ) 0.75 - - Forfeited or expired (100,000 ) 2.35 - - Options outstanding December 31, 2016 1,511,995 1.74 2.97 102,605 Exercisable, December 31, 2016 1,054,202 1.65 2.51 102,605 Granted 1,006,741 1.82 4.69 25,610 Exercised during 2017 (83,333 ) 0.75 - - Forfeited, cancelled, or expired (1,250,068 ) - - Options outstanding December 31, 2017 1,985,325 1.74 3.04 25,160 Exercisable, December 31, 2017 1,317,4416 1.84 2.46 8,537 In July 2017, 400,000 250,000 $2.55 July 7, 2017 150,000 $2.55 2018 400,00options December 31, 2017. The weighted-average fair value of the options granted during 2017 2016 $1.73 $1.70 2017 2016 2017 2016 Volatility 81.23% -97.24% 134.53%- 194.34% Risk-free interest 1.4%- 2.2% .04%-1.47% Expected Life 2-5 years 5 years Dividend yield 0 0 Forfeiture Rate 6 6 A summary of option activity for non-employees under the plans and changes during the years ended December 31, 2017 2016, Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intr insic Options Value $ Outstanding, January 1, 2016 8,333 2.70 4.83 Exercisable, January 1, 2016 2,777 2.70 4.83 Granted 216,666 2.53 - Exercised - - - - Outstanding, December 31, 2016 224,999 2.53 5.32 - Exercisable, December 31, 2016 14,734 2.72 4.36 - Granted 2017 - - - - Exercised 2017 - - - - Outstanding, December 31, 2017 224,999 2.52 3.51 - Exercisable, December 31, 2017 23,067 2.22 4.38 - 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. In accordance with the provisions of FASB ASC 505, twelve December 31, 2017, $9,384 twelve December 31, 2016, $25,346 |
Note M - Employment Contract an
Note M - Employment Contract and Consulting Agreements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Employment and Consulting Agreements [Text Block] | NOTE M –EMPLOYMENT CONTRACT AND CONSULTING AGREEMENTS Employment Contracts As of September 1, 2009, five "2009 2009 one August 1 not 2009 $300,000 may $400,000, one one five 110% 10% one third first three 30 In accordance with the 2009 886,866 $1,030,875 December 31, 2017 855,810 $980,906 December 31, 2016 On December 1, 2016, $280,000 one September 1, 2016 August 31, 2017 ( one September 1 st through August 31 st June 1st not In July 2017, three $300,000 may $400,000, one one five second third In July 2017, 921,942 $2.00 five second third In July 2017, ten $300,000 $100,000 $200,000 first fifteen 15 one 280G 4 In July 2017, ten $100,000 On October 5, 2017, October 2, 2017, July 2017 All compensation expense recorded to the date of the resignation was reversed as of the resignation date. On October 5, 2017, ’s current Chairman of the Board, as the Company’s Interim Chief Executive Officer, to serve in such role until the appointment of a new Chief Executive Officer. In connection with her appointment to serve as the Company’s Interim Chief Executive Officer, Ms. Bernhard was paid an annual salary of $200,000 one 100,000 December 19 ,2017 25,000 100,000 On December 19, 2017 2009 2017 Mr. Osser placed on hold his position as Managing Director-China Operations and his consulting agreement with Milestone Medical to rejoined Milestone Scientific Inc. as Interim Chief Executive Officer and will not no |
Note N - Income Taxes
Note N - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE N — 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, 2017 2016, no In accordance with ASU 2015 17, December 31, 2017 2016 2017 2016 Allowance for doubtful accounts-short term $ 3,000 $ 4,000 Warranty reserve 20,000 36,000 Capital Gains 45,000 Deferred officers compensation 636,000 395,000 Depreciation and Amortization 181,000 135,000 Deferred revenue 478,000 Net operating loss carryforward 15,116,000 18,456,000 Subtotal 16,479,000 19,026,000 Valuation allowance $ (16,479,000 ) $ (19,026,000 ) The deferred tax asset, before valuation allowance, has been calculated on rates anticipated to be effect when the temporary differences reverse. Accordingly, based on the change in Federal tax rates promulgated in December 2017, January 1, 2018, 21% December 22, 2017, $8,677,000, As of December 31, 2017, $60,000,000. As of December 31, 2016, $56,530,000, December 2037. December 31, 2017, $24,500,000. December 31, 2016 $22,942,000. December 2037. The utilization of Milestone Scientific's net operating losses may 382 may 100% As of December 31, 2017, 2016, $18,339 $13,000 A reconciliation of the statutory tax rates for the years ended December 31, 2017 2016 Statutory rate 34 % 34 % State income tax - all states 6 % 6 % Non-deductible Stock based compensation - 3 % Deferred provision for effect of change in Federal 164 % - 204 % 43 % Valuation allowance (204 %) (43 %) Effective tax rate 0 % 0 % 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, 2017, 2016, no No 2014, 2015, 2016 |
Note O - Segment and Geographic
Note O - Segment and Geographic Data | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Product Sales and Significant Customers and Vendors Disclosure [Text Block] | NOTE O — SEGMENT AND GEOGRAPHIC DATA We conduct our business through two dental and medical. These segments offer different products and services to different customer base. The following tables present information about our reportable and operating segments: Sales Years ended Net Sales: 2017 2016 Dental $ 11,279,886 $ 10,460,752 Medical 2,000 21,253 Total $ 11,281,886 $ 10,482,005 Operating Income (Loss): 2017 2016 Dental $ 3,127,570 $ 2,087,002 Medical ( ) ( ) Corporate (5,972,743 ) ( ) Total $ ( ) $ ( ) Depreciation and Amortization: 2017 2016 Dental $ 17,305 $ 17,619 Medical 26,950 62,720 Other 528,895 82,586 Corporate $ 573,150 $ 162,925 Total Income before taxes and equity in earnings of affiliates: 2017 2016 Dental $ 3,136,167 $ 2,097,652 Medical ( ) ( ) Corporate ( ) ( ) Total $ ( ) $ ( ) Total Assets: 2017 2016 Dental $ 10,255,144 $ 10,472,879 Medical 655,513 913,840 Corporate 4,718,130 ( ) Total $ 15,628,787 $ 14,181,640 The following table presents information about our operations by geographic area as December 31, 2017 2017. Net sales by geographic area are based on the respective locations of our subsidiaries 2017 2016 Dental Total Product Sales Domestic-US and Canada $ 5,339,709 $ 3,331,308 International -Rest of the World 3,869,177 3,703,844 International -China 2,071,000 3,425,600 Total $ 11,279,886 $ 10,460,752 Total Product Sales Medical Domestic-US and Canada $ - $ - International - Rest of the World 2,000 21,253 Total $ 2,000 $ 21,253 Total Domestic-US and Canada $ 5,339,709 $ 3,352,561 International -Rest of the World 3,871,177 3,703,844 International -China 2,071,000 3,425,600 Total $ 11,281,886 $ 10,482,005 |
Note P - Concentration
Note P - Concentration | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE P -- CONCENTRATION third and CompuMed® instruments, pursuant to which they manufacture these products under specific purchase orders but without any long-term contract or minimum purchase commitment. In March 2016, 3,000 December 31, 2017 In January 2017 2,000 4th 2017. $697,192 December 31, 2017. December 31, 2017, $300,460. $656,752 December 31, 2016. December 31, 2016, $272,231. December 31, 2017 2016 For twelve December 31, 2017, 70% two one 51% 19%, twelve December 31, 2016, 58% two one 31%, 27%, $2,555,476, 78% twelve December 31, 2017. Accounts receivable for the major customer/distributors amounted to an aggregate of approximately $2,994,686, 85% twelve December 31, 2016. |
Note Q - Related Party Transzac
Note Q - Related Party Transzactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE Q -- RELATED PARTY TRANSACTIONS Milestone Scientific has a manufacturing agreement with United Systems (an entity controlled by a significant stockholder of Milestone), 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 $2,146,108 $3,025,249 twelve December 31, 2017 2016, $985,678 $1,235,052 December 31, 2017 2016, Milestone Scientific had $2,071,000 twelve December 31, 2017. $3,425,000 twelve December 31, 2016. December 31, 2017, 2016, $1,725,450 $1,109,671, $1,001,800 $620,041, December 31, 2017, 2016, $1,725,450 $2,714,600, In August 2016, three $100,000 twelve December 31, 2017 2016, In January 2017, 12 2018. Expenses recognized on this agreement were $80,000 twelve December 31, 2017. See Note M for related party employment and consulting agreements. |
Note R - Commitments and Other
Note R - Commitments and Other | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE R — COMMITMENTS AND OTHER ( 1 The headquarters for Milestone Scientific is located at 220 7,625 January 31, 2020 $12,522. 2017. third Aggregate minimum rental commitments under noncancelable operating leases are as follows: Year Ending December 31, 2017 2018 $ 150,264 2019 150,264 2020 12,522 $ 313,050 For the years ended December 31, 2017 2016, $141,428 $133,657 ( 2 Other Commitments Milestone Scientific's employment agreement (the “2009 $203,111 five third $203,111 years ended December 31, 2017, 2016 July 2017, 2009 $203,111 2018 2009 On December 19, 2017 2017 Mr. Osser placed on hold his position as Managing Director-China Operations and his consulting agreement with Milestone Medical to rejoined Milestone Scientific Inc. as Interim Chief Executive Officer. Mr. Osser will not no The technology underlying the SafetyWand® and CompuFlo®, and an improvement to the controls for CompuDent® were developed by the Director of Clinical Affairs and assigned to Milestone Scientific. Milestone Scientific purchased this technology pursuant to an agreement dated January 1, 2005. 2.5% 5% 8,333 third The Director of Clinical Affairs’ royalty fee was $554,150 $526,737 twelve December 31, 2017 2016, $275,000 twelve December 31, 2017 2016, In January 2017, 12 12 $80,000 twelve December 31, 2017 2018 On October 2, 2017, ’s attorneys, that Mr. Goldberger was entitled, based on the circumstances he asserted with respect to his resignation after acceptance of such resignation, to his basic salary ( $300,000 one one $30,000 $1,200 July 10, 2017. ninety 921,942 $2.00 February 2018, $175,000 $75,000, March 2018. nine March 2018. |
Note S - Pension Plan
Note S - Pension Plan | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE S — PENSION 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 T - Subsequent Events
Note T - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE T — SUBSEQUENT EVENTS In January 2018 the Company 2,000 3rd 2018, $1,397,440. As of March 2, 2018, was in default. If Milestone Scientific exercises its rights as a secured party it may $250,000 not not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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). Milestone Education is a variable interest entity of which Milestone Scientific is the primary beneficiary and is consolidated into Milestone Scientific's financial statements. All significant, intra-entity transactions and balances have been eliminated in the consolidation. |
Reclassification, Policy [Policy Text Block] | 2. Certain reclassifications have been made to the 2016 2017 no |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | 3. 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. Milestone Scientific is the primary beneficiary of Milestone Education as of January 2016. Because Milestone Scientific had an increasing variable interest in Milestone China, it further considered the guidance in Accounting Standard Codification ("ASC") 810 not ● 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 management does not not 53% not 810. not |
Cash and Cash Equivalents, Policy [Policy Text Block] | 4. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | 5. Accounts Receivable Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the inability of its customers to make payments on amounts billed. Most of credit sales are due within ninety not December 31, 2017, 2016 $10,000 |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | 6 . Note Receivable Milestone Scientific values note receivable at historic cost less amount paid against principle. Milestone Scientific estimates losses on the note-based payments and credit quality of the debtor. |
Standard Product Warranty, Policy [Policy Text Block] | 7. Product Return and Warranty Milestone Scientific generally does not not |
Inventory, Policy [Policy Text Block] | 8. Inventories Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first December 31, 2017, 2016 $220,000 December 31, 2017 $0 December 31,2016 |
Equity Method Investments [Policy Text Block] | 9. Equity Method Investments Investments in which Milestone Scientific can exercise significant influence, but do not may |
Property, Plant and Equipment, Policy [Policy Text Block] | 10. Furniture, Fixture and Equipment 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 December 31, 2017, 2016 $721,619 $659,144 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | 11. Intangible Assets – Patents and Developed Technology 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 will be amortized at the estimated average useful life of the patent. These patents and developed technology are recorded at the acquisition cost. Patent defense costs, to the extent applicable, are expensed as incurred. Patent applications filed, and patents obtained in foreign countries are subject to the laws and procedures that differ from those in the United States. Patent protection in foreign countries may may not no |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | 12. As of December 31, 2017, no no December 31, 2017 2016 |
Revenue Recognition, Policy [Policy Text Block] | 13. Revenue from product sales is recognized, net of discounts and allowances to domestic distributors, on the date of shipment for substantially all shipments, since the shipment terms are FOB warehouse. Milestone Scientific recognizes revenue on date of arrival of the goods at the customer's location, where shipments are FOB destination. In all cases the price to the buyer is fixed and the collectability is reasonably assured. Further, Milestone Scientific has no not no Milestone Scientific defers the total revenue and costs of goods sold when devices and handpieces are shipped to Milestone China and Milestone China ’s agent due to market conditions and Milestone China liquidity concerns. Also, 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% not third |
Shipping and Handling Cost, Policy [Policy Text Block] | 14. Milestone Scientific includes shipping and handling costs, if any, in cost of goods sold. These costs are paid by or billed to customers at the time of shipments. Domestic and international shipments are FOB warehouse; therefore, no |
Research and Development Expense, Policy [Policy Text Block] | 15. Research and development costs, which consist principally of new product development costs payable to third |
Income Tax, Policy [Policy Text Block] | 16. 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. |
Earnings Per Share, Policy [Policy Text Block] | 17. 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 Statement of Financial Accounting Standards ASC Topic 260. Since Milestone Scientific had net losses for 2017 2016, not 3,679,152 3,329,769 December 31, 2017 2016, |
Use of Estimates, Policy [Policy Text Block] | 18. 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 . |
Fair Value of Financial Instruments, Policy [Policy Text Block] | 19. Fair Value Measurements: 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 |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | 20. Milestone Scientific accounts for stock-based compensation under ASC Topic 718, 718 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. In accordance with the provisions of FASB ASC 505, twelve December 31, 2017, $9,384 twelve December 31, 2016, $25,346 |
New Accounting Pronouncements, Policy [Policy Text Block] | 21. Recent Acc In May 2014, five 1 2 3 4 5 In August 2015, one December 15, 2017. not In February 2016, No.2016 02, 842 December 15, 2018. In June 2016, No.2016 13, – Credit Losses” (Topic 326 December 15, 2018. In August 2016, No.2016 15, 230 December 15, 2017. not In November 2016, No.2016 18, – Restricted Cash” (Topic 230 December 15, 2017 not In May 2017, No.2017 09, – Stock Compensation” (Topic 718 December 15, 2017. In July 2017, No.2017 11, 260 480 815 December 15, 2018. In November 2017, No.2017 14, – Reporting Comprehensive Income” (Topic 815 605 606 not |
Note E - Inventories (Tables)
Note E - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31 2017 2016 Inventories consist of the following: Dental finished goods $ 2,846,272 $ 3,832,275 Medical finished goods, net 475,285 735,061 Component parts and other materials 57,652 35,383 Total $ 3,379,209 $ 4,602,719 |
Note H - Investment in Uncons29
Note H - Investment in Unconsolidated Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | December 31, 2017 December 31, 2016 Assets: Current assets $ 13,127,422 $ 9,362,198 Non-current assets 3,213,520 2,467,547 Total assets: 16,340,942 11,829,745 Liabilities: Current liabilities 18,468,937 9,900,611 Stockholders' equity (2,127,995) 1,929,134 Total liabilities and stockholders ’ equity $ 16,340,942 $ 11,829,745 December 31, 2017 December 31, 2016 Net sales $ 1,666,605 $ 1,126,484 Cost of goods sold 477,200 976,106 Gross Profit 1,189,405 150,378 Other Expenses (6,247,205) (2,834,980 ) Net Losses $ (5,057,800) $ (2,684,602 ) |
Note I - Furniture, Fixtures 30
Note I - Furniture, Fixtures and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31 2017 2016 Furniture, Fixtures and Equipment consist of the following: Leasehold improvements $ 24,734 $ 24,734 Office furniture and equipment 134,947 135,802 Molds 7,200 7,200 Trade show displays 143,357 143,357 Computers and software 231,704 224,840 Tooling Safety Wand 125,022 125,022 Website 39,200 - Tooling equipment-STA & Wand 11,100 11,100 EPI and IA Instruments 82,363 82,363 STA Trials Instruments 63,752 63,752 Total 863,379 818,170 Less accumulated depreciation (721,619 ) (659,144 ) Total $ 141,760 $ 159,026 |
Note J - Patents (Tables)
Note J - Patents (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2017 2016 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Patents-foundation intellectual property 1,377,863 (787,821 ) 590,042 1,377,543 (717,086 ) 660,457 Epidural-Apad acquired patents 2,639,647 (439,941 ) 2,199,706 - - - Total 4,017,510 (1,227,762 ) 2,789,748 1,377,543 (717,086 ) 660,457 |
Note L - Stock Option Plans (Ta
Note L - Stock Option Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Options Wei ghted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2016 1,419,436 1.56 2.79 1,220,338 Exercisable, January 1, 2016 1,041,680 1.29 2.41 1,135,819 Granted 520,337 1.79 4.38 Exercised during 2016 (327,778 ) 0.75 - - Forfeited or expired (100,000 ) 2.35 - - Options outstanding December 31, 2016 1,511,995 1.74 2.97 102,605 Exercisable, December 31, 2016 1,054,202 1.65 2.51 102,605 Granted 1,006,741 1.82 4.69 25,610 Exercised during 2017 (83,333 ) 0.75 - - Forfeited, cancelled, or expired (1,250,068 ) - - Options outstanding December 31, 2017 1,985,325 1.74 3.04 25,160 Exercisable, December 31, 2017 1,317,4416 1.84 2.46 8,537 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intr insic Options Value $ Outstanding, January 1, 2016 8,333 2.70 4.83 Exercisable, January 1, 2016 2,777 2.70 4.83 Granted 216,666 2.53 - Exercised - - - - Outstanding, December 31, 2016 224,999 2.53 5.32 - Exercisable, December 31, 2016 14,734 2.72 4.36 - Granted 2017 - - - - Exercised 2017 - - - - Outstanding, December 31, 2017 224,999 2.52 3.51 - Exercisable, December 31, 2017 23,067 2.22 4.38 - |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2017 2016 Volatility 81.23% -97.24% 134.53%- 194.34% Risk-free interest 1.4%- 2.2% .04%-1.47% Expected Life 2-5 years 5 years Dividend yield 0 0 Forfeiture Rate 6 6 |
Note N - Income Taxes (Tables)
Note N - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2017 2016 Allowance for doubtful accounts-short term $ 3,000 $ 4,000 Warranty reserve 20,000 36,000 Capital Gains 45,000 Deferred officers compensation 636,000 395,000 Depreciation and Amortization 181,000 135,000 Deferred revenue 478,000 Net operating loss carryforward 15,116,000 18,456,000 Subtotal 16,479,000 19,026,000 Valuation allowance $ (16,479,000 ) $ (19,026,000 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2017 2016 Statutory rate 34 % 34 % State income tax - all states 6 % 6 % Non-deductible Stock based compensation - 3 % Deferred provision for effect of change in Federal 164 % - 204 % 43 % Valuation allowance (204 %) (43 %) Effective tax rate 0 % 0 % |
Note O - Segment and Geograph34
Note O - Segment and Geographic Data (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Sales Years ended Net Sales: 2017 2016 Dental $ 11,279,886 $ 10,460,752 Medical 2,000 21,253 Total $ 11,281,886 $ 10,482,005 Operating Income (Loss): 2017 2016 Dental $ 3,127,570 $ 2,087,002 Medical ( ) ( ) Corporate (5,972,743 ) ( ) Total $ ( ) $ ( ) Depreciation and Amortization: 2017 2016 Dental $ 17,305 $ 17,619 Medical 26,950 62,720 Other 528,895 82,586 Corporate $ 573,150 $ 162,925 Total Income before taxes and equity in earnings of affiliates: 2017 2016 Dental $ 3,136,167 $ 2,097,652 Medical ( ) ( ) Corporate ( ) ( ) Total $ ( ) $ ( ) Total Assets: 2017 2016 Dental $ 10,255,144 $ 10,472,879 Medical 655,513 913,840 Corporate 4,718,130 ( ) Total $ 15,628,787 $ 14,181,640 |
Sales by Product and by Geographical Region [Table Text Block] | 2017 2016 Dental Total Product Sales Domestic-US and Canada $ 5,339,709 $ 3,331,308 International -Rest of the World 3,869,177 3,703,844 International -China 2,071,000 3,425,600 Total $ 11,279,886 $ 10,460,752 Total Product Sales Medical Domestic-US and Canada $ - $ - International - Rest of the World 2,000 21,253 Total $ 2,000 $ 21,253 Total Domestic-US and Canada $ 5,339,709 $ 3,352,561 International -Rest of the World 3,871,177 3,703,844 International -China 2,071,000 3,425,600 Total $ 11,281,886 $ 10,482,005 |
Note R - Commitments and Other
Note R - Commitments and Other (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Lessee, Operating Lease, Disclosure [Table Text Block] | Year Ending December 31, 2017 2018 $ 150,264 2019 150,264 2020 12,522 $ 313,050 |
Note A - Organization and Bus36
Note A - Organization and Business (Details Textual) | 12 Months Ended |
Dec. 31, 2017 | |
Number of Countries in which Entity Operates | 53 |
UNITED STATES | |
Number of Medical Instruments Sold | 0 |
Note C - Summary of Significa37
Note C - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Doubtful Accounts Receivable | $ 10,000 | $ 10,000 |
Inventory Valuation Reserves | 220,000 | 0 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 721,619 | 659,144 |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 |
Shipping, Handling and Transportation Costs | 0 | 0 |
Income from Non-employee Options | $ 9,384 | |
Share-based Goods and Nonemployee Services Transaction, Capitalized Cost | $ 25,346 | |
Options and Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,679,152 | 3,329,769 |
Minimum [Member] | ||
Property, Plant and Equipment, Useful Life | 2 years | |
Maximum [Member] | ||
Property, Plant and Equipment, Useful Life | 7 years | |
Milestone China [Member] | ||
Variable Interest Entity Majority Shareholder Ownership Percentage | 53.00% | |
Equity Method Investment, Deferred Intercompany Profit (Loss), Percentage | 40.00% |
Note D - Notes Receivable (Deta
Note D - Notes Receivable (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 02, 2018 | May 31, 2017 | Jun. 30, 2014 | |
Proceeds from Sale of Variable Interest Entity Shares with Agreement to Repurchase | $ 250,000 | |||||
Milestone China [Member] | ||||||
Equity Method Investment, Ownership Percentage | 40.00% | |||||
Equity Method Investment, Deferred Gain on Sale | $ 1,400,000 | |||||
Equity Method Investments | $ 0 | $ 0 | $ 0 | $ 1,000,000 | ||
Milestone China [Member] | Sale of Variable Interest Entity's Shares [Member] | ||||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | ||||
Option to Repurchase, Period | 10 years | |||||
Price for Shares of Variable Interest Entity Interest Sold | $ 1,400,000 | |||||
Proceeds from Sale of Variable Interest Entity Shares with Agreement to Repurchase | 125,000 | |||||
Financing Receivable, Net | 1,275,000 | |||||
Note Receivable, Quarterly Installment Amount | 125,000 | |||||
Option to Repurchase Variable Interest Entity Shares, Purchase Price | $ 1,400,000 | |||||
Option to Repurchase Variable Entity Shares at Specified Purchase Price, Period | 2 years | |||||
Equity Method Investment, Deferred Gain on Sale | $ 1,400,000 | |||||
Milestone China [Member] | Sale of Variable Interest Entity's Shares [Member] | Upon Exercise of Default Agreement [Member] | Subsequent Event [Member] | ||||||
Return Obligation, Amount | $ 250,000 |
Note E - Inventories (Details T
Note E - Inventories (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Inventory Valuation Reserves | $ 220,000 | $ 0 |
Note E - Inventories - Summary
Note E - Inventories - Summary of Inventories (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Component parts and other materials | $ 57,652 | $ 35,383 |
Total | 3,379,209 | 4,602,719 |
Dental Segment [Member] | ||
Finished goods | 2,846,272 | 3,832,275 |
Medical Segment [Member] | ||
Finished goods | $ 475,285 | $ 735,061 |
Note F - Advances on Contracts
Note F - Advances on Contracts (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Advances on Inventory Purchases | $ 697,192 | $ 700,900 |
Note G - Consolidation of Var42
Note G - Consolidation of Variable Interest Entity (Details Textual) - Milestone Education LLC [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 50.00% |
Percentage of Revenue from Services Performed to Variable Interest Entity | 81.00% |
Note H - Investment in Uncons43
Note H - Investment in Unconsolidated Subsidiaries (Details Textual) | 1 Months Ended | 12 Months Ended | |||||
Jun. 30, 2017USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Mar. 02, 2018USD ($) | May 31, 2017 | Dec. 31, 2015USD ($) | |
Income (Loss) from Equity Method Investments | $ (120,510) | $ (795,827) | |||||
Proceeds from Sale of Variable Interest Entity Shares with Agreement to Repurchase | 250,000 | ||||||
Sales Revenue, Goods, Net | $ 11,281,886 | 10,482,005 | |||||
Advanced Ocular Sciences SA [Member] | |||||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||||
Advances to Affiliate | $ 78,798 | ||||||
Write-off of Advances to Affiliate | 78,798 | ||||||
Milestone China [Member] | |||||||
Equity Method Investment, Ownership Percentage | 40.00% | ||||||
Equity Method Investments | $ 0 | $ 1,000,000 | $ 0 | 0 | |||
Long-term Purchase Commitment, Minimum Quantity Required | 772 | ||||||
Income (Loss) from Equity Method Investments | 0 | (795,827) | |||||
Cost-method Investments, Realized Losses | 3,147,470 | 1,124,350 | |||||
Equity Method Investment, Deferred Gain on Sale | $ 1,400,000 | ||||||
Sales Revenue, Goods, Net | $ 2,071,000 | 3,425,000 | |||||
Equity Method Investment, Deferred Intercompany Profit (Loss), Percentage | 40.00% | ||||||
Milestone China [Member] | Accounts Receivable from Related Parties [Member] | |||||||
Equity Method Investment, Deferred Intercompany Profit (Loss) | $ 751,500 | 630,990 | |||||
Equity Method Investment, Unrealized Intercompany Profit (Loss) Not Eliminated, Amount | (120,510) | ||||||
Milestone China [Member] | Instruments and Handpieces [Member] | |||||||
Sales Revenue, Goods, Net | $ 2,071,000 | 3,425,000 | |||||
Milestone China [Member] | Sale of Variable Interest Entity's Shares [Member] | |||||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | |||||
Option to Repurchase, Period | 10 years | ||||||
Price for Shares of Variable Interest Entity Interest Sold | $ 1,400,000 | ||||||
Proceeds from Sale of Variable Interest Entity Shares with Agreement to Repurchase | 125,000 | ||||||
Financing Receivable, Net | 1,275,000 | ||||||
Note Receivable, Quarterly Installment Amount | 125,000 | ||||||
Option to Repurchase Variable Interest Entity Shares, Purchase Price | $ 1,400,000 | ||||||
Option to Repurchase Variable Entity Shares at Specified Purchase Price, Period | 2 years | ||||||
Equity Method Investment, Deferred Gain on Sale | $ 1,400,000 | ||||||
Variable Interest Entity Ownership Percentage Sold | 40.00% | ||||||
Milestone China [Member] | Sale of Variable Interest Entity's Shares [Member] | Subsequent Event [Member] | Upon Exercise of Default Agreement [Member] | |||||||
Return Obligation, Amount | $ 250,000 | ||||||
Milestone Education LLC [Member] | Accounts Receivable from Related Parties [Member] | |||||||
Equity Method Investment, Unrealized Intercompany Profit (Loss) Not Eliminated, Amount | $ 795,827 |
Note H - Investment in Uncons44
Note H - Investment in Unconsolidated Subsidiaries - Summarized Financial Information (Unaudited) of Milestone China (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cost of goods sold | $ 4,312,507 | $ 4,175,533 |
Gross Profit | 6,969,379 | 6,306,472 |
Net Losses | (5,369,553) | (7,294,489) |
Milestone China [Member] | ||
Current assets | 13,127,422 | 9,362,198 |
Non-current assets | 3,213,520 | 2,467,547 |
Total assets: | 16,340,942 | 11,829,745 |
Current liabilities | 18,468,937 | 9,900,611 |
Stockholders' equity | (2,127,995) | 1,929,134 |
Total liabilities and stockholders’ equity | 16,340,942 | 11,829,745 |
Net sales | 1,666,605 | 1,126,484 |
Cost of goods sold | 477,200 | 976,106 |
Gross Profit | 1,189,405 | 150,378 |
Other Expenses | (6,247,205) | (2,834,980) |
Net Losses | $ (5,057,800) | $ (2,684,602) |
Note I - Furniture, Fixtures 45
Note I - Furniture, Fixtures and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation | $ 62,475 | $ 92,667 |
Note I - Furniture, Fixtures 46
Note I - Furniture, Fixtures and Equipment - Summary of Furniture, Fixtures and Equipment (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Furniture, fixtures and equipment | $ 863,379 | $ 818,170 |
Less accumulated depreciation | (721,619) | (659,144) |
Total | 141,760 | 159,026 |
Leasehold Improvements [Member] | ||
Furniture, fixtures and equipment | 24,734 | 24,734 |
Office Furniture and Equipment [Member] | ||
Furniture, fixtures and equipment | 134,947 | 135,802 |
Tools, Dies and Molds [Member] | ||
Furniture, fixtures and equipment | 7,200 | 7,200 |
Trade Show Displays [Member] | ||
Furniture, fixtures and equipment | 143,357 | 143,357 |
Computer and Software [Member] | ||
Furniture, fixtures and equipment | 231,704 | 224,840 |
Tooling Safety Wand [Member] | ||
Furniture, fixtures and equipment | 125,022 | 125,022 |
Website [Member] | ||
Furniture, fixtures and equipment | 39,200 | |
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 |
Note J - Patents (Details Textu
Note J - Patents (Details Textual) - USD ($) | Jul. 13, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Amortization of Intangible Assets | $ 510,676 | $ 70,699 | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 945,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 932,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 486,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 39,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 38,000 | ||
Stock Issued During Period, Value, Purchase of Assets | 2,486,000 | ||
APAD Octrooi B.V. and APAD B.V. [Member] | |||
Stock Issued During Period, Shares, Purchase of Assets | 1,646,358 | ||
Stock Issued During Period, Value, Purchase of Assets | $ 2,486,000 | ||
Asset Purchase Agreement, Post-closing Adjustments, Percentage of Initial Shares, Maximum | 25.00% | ||
Asset Purchase Agreement, Post-closing Adjustments, Amount of Initial Shares, Maximum | $ 250,000 | ||
Asset Purchase Agreement, Post-closing Adjustments, Liabilities | 275,000 | ||
Asset Purchase Agreement, Payments of Legal Fees | $ 153,000 | ||
Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Amortization of Intangible Assets | $ 510,676 | $ 70,699 | |
Finite-lived Intangible Assets Acquired | $ 2,639,000 | ||
Patents [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Patents [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||
Patents [Member] | Weighted Average [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years |
Note J - Patents - Summary of P
Note J - Patents - Summary of Patents (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Patents, cost | $ 4,017,510 | $ 1,377,543 |
Patents, accumulated amortization | (1,227,762) | (717,086) |
Patents, net | 2,789,748 | 660,457 |
Foundation Intellectual Property Patents [Member] | ||
Patents, cost | 1,377,863 | 1,377,543 |
Patents, accumulated amortization | (787,821) | (717,086) |
Patents, net | 590,042 | 660,457 |
Epidural-Apad Patents [Member] | ||
Patents, cost | 2,639,647 | |
Patents, accumulated amortization | (439,941) | |
Patents, net | $ 2,199,706 |
Note K - Stockholders' Equity (
Note K - Stockholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 2 Months Ended | 12 Months Ended | |||||
Jan. 31, 2017 | Dec. 31, 2016 | Jul. 31, 2016 | Jun. 30, 2016 | May 31, 2014 | Jan. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Proceeds from Issuance of Private Placement | $ 2,000,000 | $ 10,000,000 | $ 2,225,000 | |||||
Shares Issued, Price Per Share | $ 2.40 | |||||||
Proceeds from Issuance of Common Stock | $ 250,000 | $ 150,836 | $ 2,573,220 | |||||
Stock Issued During Period, Shares, New Issues | 104,200 | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 4,600,250 | 5,111,582 | 4,600,250 | |||||
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance | 1,270,481 | 1,401,247 | 1,270,481 | |||||
Other Stock Options and Warrants [Member] | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 3,329,769 | 3,710,335 | 3,329,769 | |||||
Chief Executive Officer, Chief Financial Officer and Employees [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance | 1,270,481 | 1,401,247 | 1,270,481 | |||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 1,000,000 | |||||||
Shares Issued, Price Per Share | $ 2 | $ 1.50 | ||||||
Proceeds from Issuance of Common Stock | $ 3,000,000 | |||||||
Stock Issued During Period, Shares, New Issues | 2,000,000 | |||||||
Private Placement [Member] | Series A Convertible Preferred Stock [Member] | ||||||||
Shares Issued, Price Per Share | $ 1,000 | |||||||
Stock Issued During Period, Shares, New Issues | 7,000 | |||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 7,000,000 | |||||||
Preferred Stock, Redemption Price Per Share | $ 2.37 | |||||||
Private Placement [Member] | Series A Convertible Preferred Stock [Member] | Conversion Price if Certain Conditions are Not Met [Member] | ||||||||
Preferred Stock, Redemption Price Per Share | $ 1.50 | |||||||
Underwritten Public Offering [Member] | ||||||||
Shares Issued, Price Per Share | $ 1.50 | $ 1.50 | ||||||
Proceeds from Issuance of Common Stock | $ 3,000,000 | |||||||
Stock Issued During Period, Shares, New Issues | 2,000,000 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,592,775 | 1,592,775 | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.75 | 0.75 | ||||||
Class of Warrant or Right, Expiration Period | 3 years | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.55 | $ 2.55 | ||||||
Over-Allotment Option [Member] | ||||||||
Shares Issued, Price Per Share | $ 1.499 | $ 1.499 | ||||||
Proceeds from Issuance of Common Stock | $ 186,000 | $ 3,200,000 | ||||||
Stock Issued During Period, Shares, New Issues | 123,700 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 92,775 | 92,775 | ||||||
Payments of Stock Issuance Costs | $ 4,461,493 |
Note L - Stock Option Plans (De
Note L - Stock Option Plans (Details Textual) - USD ($) | Jul. 07, 2017 | Jul. 31, 2017 | Jun. 30, 2011 | Jul. 31, 2004 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | May 31, 2016 | Apr. 30, 2016 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.73 | $ 1.70 | |||||||
Income from Non-employee Options | $ 9,384 | ||||||||
Share-based Goods and Nonemployee Services Transaction, Capitalized Cost | $ 25,346 | ||||||||
Gian Domenico Trombetta [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 400,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 400,000 | ||||||||
Employee Stock Option [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,006,741 | 520,337 | |||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 636,058 | $ 579,103 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 603,979 | $ 603,979 | $ 678,842 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 222 days | 3 years 14 days | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.82 | $ 1.79 | |||||||
Employee Stock Options Issued at $2.55 Per Share [Member] | Gian Domenico Trombetta [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 250,000 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 2.55 | ||||||||
Employee Stock Options Issued at the Higher of $2.55 Per Share or Market Price [Member] | Gian Domenico Trombetta [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 150,000 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 2.55 | ||||||||
Stock Option Plan 2004 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 750,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercise Period from Grant Date | 3 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expire Period after Grant Date | 5 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | |||||||
Stock Option Plan 2011 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,000,000 | 2,000,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercise Period from Grant Date | 3 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expire Period after Grant Date | 5 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,000,000 |
Note L - Stock Option Plans - S
Note L - Stock Option Plans - Summary of Option Activity for Employees and Non-employees (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Weighted average remaining contractual life, outstanding (Year) | 3 years 14 days | ||
Aggregate intrinsic value, outstanding | $ 25,160 | ||
Number of options exercisable (in shares) | 13,174,416 | 1,054,202 | |
Weighted average exercise price, exercisable (in dollars per share) | $ 1.84 | $ 1.65 | |
Weighted average remaining contractual life, exercisable (Year) | 2 years 167 days | 2 years 186 days | |
Aggregate intrinsic value, exercisable | $ 8,537 | $ 102,605 | |
Weighted average exercise price, granted (in dollars per share) | $ 1.73 | $ 1.70 | |
Weighted average remaining contractual life, granted (Year) | 4 years 251 days | ||
Aggregate intrinsic value, granted | $ 25,610 | ||
Number of options forfeited and expired (in shares) | (100,000) | ||
Weighted average exercise price, forfeited or expired (in dollars per share) | $ 2.35 | ||
Number of options (in shares) | 1,985,325 | ||
Weighted average exercise price, outstanding (in dollars per share) | $ 1.74 | ||
Employee Stock Option [Member] | |||
Number of options (in shares) | 1,511,995 | 1,419,436 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.74 | $ 1.56 | |
Weighted average remaining contractual life, outstanding (Year) | 2 years 354 days | 2 years 288 days | |
Aggregate intrinsic value, outstanding | $ 102,605 | $ 1,220,338 | |
Number of options exercisable (in shares) | 1,041,680 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.29 | ||
Weighted average remaining contractual life, exercisable (Year) | 2 years 149 days | ||
Aggregate intrinsic value, exercisable | $ 1,135,819 | ||
Number of options granted (in shares) | 1,006,741 | 520,337 | |
Weighted average exercise price, granted (in dollars per share) | $ 1.82 | $ 1.79 | |
Weighted average remaining contractual life, granted (Year) | 4 years 138 days | ||
Aggregate intrinsic value, granted | |||
Number of options exercised (in shares) | (83,333) | (327,778) | |
Weighted average exercise price, exercised (in dollars per share) | $ 0.75 | $ 0.75 | |
Number of options forfeited and expired (in shares) | (1,250,068) | ||
Number of options (in shares) | 1,511,995 | 1,419,436 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.74 | $ 1.56 | |
Non-employee Options [Member] | |||
Number of options (in shares) | 224,999 | 8,333 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 2.53 | $ 2.70 | |
Weighted average remaining contractual life, outstanding (Year) | 3 years 186 days | 5 years 116 days | 4 years 302 days |
Aggregate intrinsic value, outstanding | |||
Number of options exercisable (in shares) | 23,067 | 14,734 | 2,777 |
Weighted average exercise price, exercisable (in dollars per share) | $ 2.22 | $ 2.72 | $ 2.70 |
Weighted average remaining contractual life, exercisable (Year) | 4 years 138 days | 4 years 131 days | 4 years 302 days |
Aggregate intrinsic value, exercisable | |||
Number of options granted (in shares) | 216,666 | ||
Weighted average exercise price, granted (in dollars per share) | $ 2.53 | ||
Aggregate intrinsic value, granted | |||
Number of options exercised (in shares) | |||
Weighted average exercise price, exercised (in dollars per share) | |||
Number of options (in shares) | 224,999 | 224,999 | 8,333 |
Weighted average exercise price, outstanding (in dollars per share) | $ 2.52 | $ 2.53 | $ 2.70 |
Note L - Summary of Significant
Note L - Summary of Significant Accounting Policies - Weighted Average Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Expected Life (Year) | 5 years | |
Dividend yield | 0.00% | 0.00% |
Forfeiture Rate | 6.00% | 6.00% |
Minimum [Member] | ||
Volatility | 81.23% | 134.53% |
Risk-free interest | 1.40% | 0.04% |
Expected Life (Year) | 2 years | |
Maximum [Member] | ||
Volatility | 97.24% | 194.34% |
Risk-free interest | 2.20% | 1.47% |
Expected Life (Year) | 5 years |
Note M - Employment Contract 53
Note M - Employment Contract and Consulting Agreements (Details Textual) - USD ($) | Dec. 09, 2017 | Oct. 05, 2017 | Dec. 01, 2016 | Sep. 01, 2009 | Jul. 31, 2017 | Jun. 30, 2011 | Jul. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.73 | $ 1.70 | |||||||
Stock Option Plan 2011 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,000,000 | ||||||||
Employee Stock Option [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,006,741 | 520,337 | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.82 | $ 1.79 | |||||||
Chief Executive Officer [Member] | |||||||||
Chief Executive Officer, Employment Agreement Period | 1 year | 5 years | |||||||
Chief Executive Officer, Automatic Extended Employment Agreement Period | 1 year | 1 year | |||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 280,000 | $ 300,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | ||||||||
Minimum Shareholding Percentage in Company | 10.00% | ||||||||
Options Exercisable Period | 30 days | ||||||||
Deferred Compensation Arrangement with Individual, Shares Issued | 886,866 | 855,810 | |||||||
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued | $ 1,030,875 | $ 980,906 | |||||||
Chief Executive Officer [Member] | Employee Stock Option [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | ||||||||
Chief Executive Officer [Member] | Maximum [Member] | |||||||||
Accrued Bonuses, Current | $ 400,000 | ||||||||
President and Chief Executive Officer [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | ||||||||
Employment Agreement Term | 3 years | ||||||||
Employment Agreement, Base Compensation | $ 300,000 | ||||||||
Employment Agreement, Maximum Bonuses | $ 400,000 | ||||||||
President and Chief Executive Officer [Member] | Non-qualified Stock Options [Member] | Stock Option Plan 2011 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 921,942 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 2 | ||||||||
Previous President and Chief Executive Officer [Member] | |||||||||
Employment Agreement Term | 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 | 10 years | ||||||||
Consulting Agreement, Annual Payment | $ 100,000 | ||||||||
Interim Chief Executive Officer [Member] | |||||||||
Employment Agreement, Base Compensation | $ 200,000 | ||||||||
Employment Agreement, Base Compensation, Common Stock Value | $ 100,000 | ||||||||
Employment Agreement, One-Time Bonus | $ 25,000 |
Note N - Income Taxes (Details
Note N - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Loss Carryforwards, Valuation Allowance | $ 0 | $ 0 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | |
Deferred Tax Assets Gross, Increase (Decrease) Due to New Tax Cuts and Jobs Act 2017 | $ (8,677,000) | ||
Percentage of Valuation Allowance | 100.00% | ||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | $ 18,339 | $ 13,000 | |
Unrecognized Tax Benefits | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | 0 | |
Deferred Tax Assets Related to New Tax Cuts and Jobs Act 2017 [Member] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ (8,677,000) | ||
Earliest Tax Year [Member] | |||
Open Tax Year | 2,014 | ||
Latest Tax Year [Member] | |||
Open Tax Year | 2,016 | ||
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards | $ 60,000,000 | 56,530,000 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards | $ 24,500,000 | $ 22,942,000 | |
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note N - Income Taxes - Deferre
Note N - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Allowance for doubtful accounts-short term | $ 3,000 | $ 4,000 |
Warranty reserve | 20,000 | 36,000 |
Capital Gains | 45,000 | |
Deferred officers compensation | 636,000 | 395,000 |
Depreciation and Amortization | 181,000 | 135,000 |
Deferred revenue | 478,000 | |
Net operating loss carryforward | 15,116,000 | 18,456,000 |
Subtotal | 16,479,000 | 19,026,000 |
Valuation allowance | $ (16,479,000) | $ (19,026,000) |
Note N - Income Taxes - Reconci
Note N - Income Taxes - Reconciliation of the Statutory Tax Rates (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Statutory rate | 34.00% | 34.00% |
State income tax - all states | 6.00% | 6.00% |
Non-deductible Stock based compensation | 3.00% | |
Deferred provision for effect of change in Federal | 164.00% | |
204.00% | 43.00% | |
Valuation allowance | (204.00%) | (43.00%) |
Effective tax rate | 0.00% | 0.00% |
Note O - Segment and Geograph57
Note O - Segment and Geographic Data (Details Textual) | 12 Months Ended |
Dec. 31, 2017 | |
Number of Reportable Segments | 2 |
Note O - Segment and Geograph58
Note O - Segment and Geographic Data - Summary by Reporting and Operating Segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Product sales, net | $ 11,281,886 | $ 10,482,005 |
Operating Income (Loss) | (5,234,318) | (6,513,960) |
Depreciation and Amortization | ||
Income before taxes and equity in earnings of affiliates: | (5,229,950) | (6,517,763) |
Total assets | 15,628,787 | 14,181,640 |
Corporate, Non-Segment [Member] | ||
Operating Income (Loss) | (5,972,743) | (5,335,360) |
Depreciation and Amortization | 573,150 | 162,925 |
Income before taxes and equity in earnings of affiliates: | (5,975,035) | (5,395,918) |
Total assets | 4,718,130 | (2,794,921) |
Segment Reconciling Items [Member] | ||
Depreciation and Amortization | 528,895 | 82,586 |
Dental Segment [Member] | ||
Product sales, net | 11,279,886 | 10,460,752 |
Dental Segment [Member] | Operating Segments [Member] | ||
Product sales, net | 11,279,886 | 10,460,752 |
Operating Income (Loss) | 3,127,570 | 2,087,002 |
Depreciation and Amortization | 17,305 | 17,619 |
Income before taxes and equity in earnings of affiliates: | 3,136,167 | 2,097,652 |
Total assets | 10,255,144 | 10,472,879 |
Medical Segment [Member] | ||
Product sales, net | 2,000 | 21,253 |
Medical Segment [Member] | Operating Segments [Member] | ||
Product sales, net | 2,000 | 21,253 |
Operating Income (Loss) | (2,389,145) | (3,265,602) |
Depreciation and Amortization | 26,950 | 62,720 |
Income before taxes and equity in earnings of affiliates: | (2,391,082) | (3,219,497) |
Total assets | $ 655,513 | $ 913,840 |
Note O - Segment and Geograph59
Note O - Segment and Geographic Data - Summary of Operations by Geographic Area (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Product sales, net | $ 11,281,886 | $ 10,482,005 |
Domestic [Member] | ||
Product sales, net | 5,339,709 | 3,352,561 |
Rest of World [Member] | ||
Product sales, net | 3,871,177 | 3,703,844 |
CHINA | ||
Product sales, net | 2,071,000 | 3,425,600 |
Dental Segment [Member] | ||
Product sales, net | 11,279,886 | 10,460,752 |
Dental Segment [Member] | Domestic [Member] | ||
Product sales, net | 5,339,709 | 3,331,308 |
Dental Segment [Member] | Rest of World [Member] | ||
Product sales, net | 3,869,177 | 3,703,844 |
Dental Segment [Member] | CHINA | ||
Product sales, net | 2,071,000 | 3,425,600 |
Medical Segment [Member] | ||
Product sales, net | 2,000 | 21,253 |
Medical Segment [Member] | Domestic [Member] | ||
Product sales, net | ||
Medical Segment [Member] | Rest of World [Member] | ||
Product sales, net | $ 2,000 | $ 21,253 |
Note P - Concentration (Details
Note P - Concentration (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Advances on Inventory Purchases | $ 697,192 | $ 700,900 | ||
Accounts Receivable, Gross | $ 2,555,476 | $ 2,994,686 | ||
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | ||||
Number of Customers | 2 | 2 | ||
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||||
Concentration Risk, Percentage | 70.00% | 58.00% | ||
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Customer One [Member] | ||||
Concentration Risk, Percentage | 51.00% | 31.00% | ||
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | ||||
Concentration Risk, Percentage | 19.00% | 27.00% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||
Concentration Risk, Percentage | 78.00% | 85.00% | ||
Instruments [Member] | ||||
Purchase Commitment Number Of Units | 2,000 | 3,000 | ||
Advances on Inventory Purchases | $ 697,192 | $ 656,752 | ||
Purchase Commitment, Remaining Minimum Amount Committed | $ 300,460 | $ 272,231 |
Note Q - Related Party Transz61
Note Q - Related Party Transzactions (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2017 | Aug. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Sales Revenue, Goods, Net | $ 11,281,886 | $ 10,482,005 | ||
Milestone China [Member] | ||||
Sales Revenue, Goods, Net | 2,071,000 | 3,425,000 | ||
Milestone China [Member] | Instruments and Handpieces [Member] | ||||
Sales Revenue, Goods, Net | 2,071,000 | 3,425,000 | ||
Deferred Revenue | 1,725,450 | 1,001,800 | ||
Deferred Costs | 1,109,671 | 620,041 | ||
Milestone China [Member] | STA Instruments and Handpieces [Member] | ||||
Accounts Receivable, Related Parties | 1,725,450 | 2,714,600 | ||
Manufacturing Agreement for Handpieces [Member] | ||||
Related Party Transaction, Purchases from Related Party | 2,146,108 | 3,025,249 | ||
Due to Related Parties | 985,678 | 1,235,052 | ||
Consulting Services [Member] | ||||
Consulting Services Agreement, Term | 3 years | |||
Related Party Transaction, Expenses from Transactions with Related Party | 100,000 | $ 100,000 | ||
Consulting Services [Member] | Innovest S.p.A. [Member] | ||||
Consulting Services Agreement, Term | 1 year | |||
Related Party Transaction, Expenses from Transactions with Related Party | $ 80,000 |
Note R - Commitments and Othe62
Note R - Commitments and Other (Details Textual) | Oct. 02, 2017USD ($)$ / sharesshares | Jan. 01, 2005shares | Mar. 31, 2018USD ($) | Feb. 28, 2018USD ($) | Dec. 31, 2017USD ($)ft² | Dec. 31, 2016USD ($) |
Area of Office Space | ft² | 7,625 | |||||
Operating Leases, Rent Expense, Minimum Rentals | $ 12,522 | |||||
Operating Leases, Rent Expense | 141,428 | $ 133,657 | ||||
Payments for Postemployment Benefits | $ 203,111 | 203,111 | ||||
Define Benefit Plan, Payment Period | 5 years | |||||
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% | |||||
Consulting Services [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 100,000 | 100,000 | ||||
Innovest S.p.A. [Member] | Consulting Services [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | 80,000 | |||||
Director of Clinical Affairs [Member] | ||||||
Stock Issued During Period, Shares, Stock Options Exercised, Attributable to Consultants | shares | 8,333 | |||||
Royalty Expense | 554,150 | 526,737 | ||||
Professional Fees | $ 275,000 | $ 275,000 | ||||
Former CEO [Member] | ||||||
Employee Resignation Assertion, Basic Salary for One Year | $ 300,000 | |||||
Employee Resignation Assertion, Health and Disability Insurance for One Year | 30,000 | |||||
Employee Resignation Assertion, Car Allowance for One Year | $ 1,200 | |||||
Employee Resignation Assertion, Vesting Term After Resignation | 90 days | |||||
Employee Resignation Assertion, Number of Options Vested | shares | 921,942 | |||||
Employee Resignation Assertion, Options Exercise Price | $ / shares | $ 2 | |||||
Former CEO [Member] | Subsequent Event [Member] | ||||||
Employee Resignation Assertion, Gross Settlement | $ 175,000 | |||||
Employee Resignation Assertion, Payment | $ 75,000 |
Note R - Commitments and Othe63
Note R - Commitments and Other - Aggregate Minimum Rental Commitments (Details) | Dec. 31, 2017USD ($) |
2,018 | $ 150,264 |
2,019 | 150,264 |
2,020 | 12,522 |
$ 313,050 |
Note T - Subsequent Events (Det
Note T - Subsequent Events (Details Textual) | 1 Months Ended | ||
Jan. 31, 2018USD ($) | Jun. 30, 2014 | Mar. 02, 2018USD ($) | |
Milestone China [Member] | |||
Long-term Purchase Commitment, Minimum Quantity Required | 772 | ||
Subsequent Event [Member] | Milestone China [Member] | Sale of Variable Interest Entity's Shares [Member] | Upon Exercise of Default Agreement [Member] | |||
Return Obligation, Amount | $ 250,000 | ||
Instruments [Member] | Subsequent Event [Member] | |||
Long-term Purchase Commitment, Minimum Quantity Required | 2,000 | ||
Long-term Purchase Commitment, Amount | $ 1,397,440 |