Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 30, 2020 | Jun. 28, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | MILESTONE SCIENTIFIC INC. | ||
Entity Central Index Key | 0000855683 | ||
Trading Symbol | mlss | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 49,410,176 | ||
Entity Public Float | $ 15,368,647 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, par value $.001 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 1,516,272 | $ 743,429 |
Accounts receivable, net | 1,710,665 | 1,978,456 |
Accounts receivable, related party, net | 100,000 | |
Prepaid expenses and other current assets | 519,063 | 414,541 |
Deferred cost, related party | 50,000 | |
Inventories, net | 1,620,509 | 1,921,051 |
Advances on contracts | 710,662 | 648,783 |
Operating lease-right of use assets | 15,977 | |
Total current assets | 6,093,148 | 5,856,260 |
Furniture, fixtures and equipment, net | 44,976 | 82,557 |
Patents, net | 382,260 | 435,273 |
Other assets | 35,905 | 26,878 |
Total assets | 6,556,289 | 6,400,968 |
Current liabilities: | ||
Accounts payable | 1,379,425 | 1,059,186 |
Accounts payable, related party | 1,358,752 | 1,810,058 |
Accrued expenses and other payables | 775,055 | 794,918 |
Accrued expenses, related party | 1,057,957 | 686,798 |
Operating lease liabilities | 15,977 | |
Deferred profit, related party | 340,476 | 421,800 |
Deferred revenue, related party | 100,000 | |
Total current liabilities | 4,927,642 | 4,872,760 |
Total liabilities | 4,927,642 | 4,872,760 |
Commitments and contingencies | ||
Stockholders’ equity | ||
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, 0 and 7,000 shares issued and outstanding as of December 31, 2019 and 2018. | 7 | |
Common stock, par value $.001; authorized 75,000,000 shares; 49,410,176 shares issued and 49,376,843 shares outstanding as of December 31,2019; 33,859,034 shares issued, 2,470,566 shares to be issued, and 33,825,701 shares outstanding as of December 31, 2018; | 49,410 | 36,330 |
Additional paid in capital | 96,082,324 | 88,414,718 |
Accumulated deficit | (93,524,297) | (85,999,929) |
Treasury stock, at cost, 33,333 shares | (911,516) | (911,516) |
Total Milestone Scientific Inc. stockholders' equity | 1,695,921 | 1,539,610 |
Noncontrolling interest | (67,274) | (11,402) |
Total stockholders’ equity | 1,628,647 | 1,528,208 |
Total liabilities and stockholders’ equity | $ 6,556,289 | $ 6,400,968 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
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) | 0 | 7,000 |
Preferred stock, shares outstanding (in shares) | 0 | 7,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 75,000,000 | 75,000,000 |
Common stock, shares issued (in shares) | 49,410,176 | 33,859,034 |
Common stock, shares outstanding (in shares) | 49,376,843 | 33,825,701 |
Common stock, shares to be issued (in shares) | 2,470,566 | |
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, 2019 | Dec. 31, 2018 | |
Product sales, net | $ 8,374,501 | $ 9,622,076 |
Cost of products sold | 2,656,142 | 5,190,775 |
Gross profit | 5,718,359 | 4,431,301 |
Selling, general and administrative expenses | 9,527,429 | 10,645,206 |
Research and development expenses | 189,923 | 245,636 |
Impairment to long lived assets | 1,539,794 | |
Total operating expenses | 9,717,352 | 12,430,636 |
Loss from operations | (3,998,993) | (7,999,335) |
Other expenses | (10,408) | (7,232) |
Interest income | 1,543 | 7,447 |
Change in fair value of derivative liabilities | (3,635,580) | |
Loss before provision for income taxes and net of equity investments | (7,643,438) | (7,999,120) |
Provision for income taxes | (18,126) | (23,986) |
Loss before equity in net earnings of equity investments | (7,661,564) | (8,023,106) |
Loss from earnings on China joint venture | (81,324) | (329,700) |
Net loss | (7,580,240) | (7,691,771) |
Net loss attributable to noncontrolling interests | 55,872 | 260,126 |
Net loss attributable to Milestone Scientific Inc. | $ (7,524,368) | $ (7,431,645) |
Net loss per share applicable to common stockholders— | ||
Basic (in dollars per share) | $ (0.16) | $ (0.21) |
Diluted (in dollars per share) | $ (0.16) | $ (0.21) |
Weighted average shares outstanding and to be issued— | ||
Basic (in shares) | 45,740,050 | 35,299,034 |
Diluted (in shares) | 45,740,050 | 35,299,034 |
Milestone Education LLC [Member] | ||
Loss from earnings on China joint venture | $ (1,635) | |
China Joint Venture [Member] | ||
Loss from earnings on China joint venture | $ (81,324) | $ (329,700) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Consultant [Member]Preferred Stock [Member] | Consultant [Member]Common Stock [Member] | Consultant [Member]Additional Paid-in Capital [Member] | Consultant [Member]Retained Earnings [Member] | Consultant [Member]Noncontrolling Interest [Member] | Consultant [Member]Treasury Stock [Member] | Consultant [Member] | Consultant 2 [Member]Preferred Stock [Member] | Consultant 2 [Member]Common Stock [Member] | Consultant 2 [Member]Additional Paid-in Capital [Member] | Consultant 2 [Member]Retained Earnings [Member] | Consultant 2 [Member]Noncontrolling Interest [Member] | Consultant 2 [Member]Treasury Stock [Member] | Consultant 2 [Member] | Public Offering [Member]Preferred Stock [Member] | Public Offering [Member]Common Stock [Member] | Public Offering [Member]Additional Paid-in Capital [Member] | Public Offering [Member]Retained Earnings [Member] | Public Offering [Member]Noncontrolling Interest [Member] | Public Offering [Member]Treasury Stock [Member] | Public Offering [Member] | Private Placement [Member]Preferred Stock [Member] | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Retained Earnings [Member] | Private Placement [Member]Noncontrolling Interest [Member] | Private Placement [Member]Treasury Stock [Member] | Private Placement [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 7,000 | 34,592,818 | |||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 7 | $ 34,593 | $ 86,689,084 | $ (78,568,284) | $ 256,744 | $ (911,516) | $ 7,500,628 | ||||||||||||||||||||||||||||
Stock based compensation | 409,021 | 409,021 | |||||||||||||||||||||||||||||||||
Common stock issued to employee for bonuses (in shares) | 25,000 | ||||||||||||||||||||||||||||||||||
Common stock issued to employee for bonuses | $ 25 | 29,475 | 29,500 | ||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 350,102 | ||||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 350 | $ 289,400 | $ 289,750 | ||||||||||||||||||||||||||||||||
Common stock issued to employee for compensation (in shares) | 47,402 | ||||||||||||||||||||||||||||||||||
Common stock issued to employee for compensation | $ 47 | 44,953 | 45,000 | ||||||||||||||||||||||||||||||||
Common stock issued for Asset Acquisition (in shares) | 244,959 | ||||||||||||||||||||||||||||||||||
Common stock issued for Asset Acquisition | $ 245 | 286,357 | 286,602 | ||||||||||||||||||||||||||||||||
Common stock to be issued to employee for bonuses (in shares) | 511,155 | ||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for bonuses | $ 511 | 449,488 | 449,999 | ||||||||||||||||||||||||||||||||
Common stock to be issued for payment of consulting services (in shares) | 535,437 | ||||||||||||||||||||||||||||||||||
Common stock to be issued for payment of consulting services | $ 536 | 209,463 | 209,999 | ||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation (in shares) | 22,727 | ||||||||||||||||||||||||||||||||||
Common stock to be issued to employee for compensation | $ 23 | 7,477 | 7,500 | ||||||||||||||||||||||||||||||||
Acquired controlling interest in Milestone Education | (8,020) | (8,020) | |||||||||||||||||||||||||||||||||
Net loss | (7,431,645) | (260,126) | (7,691,771) | ||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 7,000 | 36,329,600 | |||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 7 | $ 36,330 | 88,414,718 | (85,999,929) | (11,402) | (911,516) | 1,528,208 | ||||||||||||||||||||||||||||
Stock based compensation | 183,888 | 183,888 | |||||||||||||||||||||||||||||||||
Common stock to be issued for services (in shares) | 607,784 | 339,058 | 147,438 | ||||||||||||||||||||||||||||||||
Common stock to be issued for services | $ 608 | $ 292,792 | $ 293,400 | $ 339 | $ 147,616 | $ 147,955 | $ 147 | 66,997 | 67,144 | ||||||||||||||||||||||||||
Common stock issued to employee for compensation (in shares) | 428,635 | ||||||||||||||||||||||||||||||||||
Common stock issued to employee for compensation | $ 429 | 790,237 | 790,666 | ||||||||||||||||||||||||||||||||
Net loss | (7,524,368) | (55,872) | (7,580,240) | ||||||||||||||||||||||||||||||||
Conversion of Preferred Shares to Common Stock (in shares) | (7,000) | 5,982,906 | |||||||||||||||||||||||||||||||||
Conversion of Preferred Shares to Common Stock | $ (7) | $ 5,983 | (5,976) | ||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised (in shares) | 675,000 | 675,000 | |||||||||||||||||||||||||||||||||
Common stock issued for warrants exercised | $ 675 | 336,825 | $ 337,500 | ||||||||||||||||||||||||||||||||
Common stock issued in offering (in shares) | 714,286 | 6,282,400 | |||||||||||||||||||||||||||||||||
Common stock issued in offering | $ 714 | $ 249,286 | $ 250,000 | $ 6,282 | $ 1,968,265 | $ 1,974,547 | |||||||||||||||||||||||||||||
Reclassification to derivative liability for securities issued in excess of shares authorized (in shares) | (3,360,830) | ||||||||||||||||||||||||||||||||||
Reclassification to derivative liability for securities issued in excess of shares authorized | $ (3,361) | (2,199,664) | (2,203,025) | ||||||||||||||||||||||||||||||||
Reversal of derivative liability for exercise of Warrants (in shares) | |||||||||||||||||||||||||||||||||||
Reversal of derivative liability for exercise of Warrants | 655,000 | $ 655,000 | |||||||||||||||||||||||||||||||||
Reversal of derivative liability for the issuance of shares-to-be-issued (in shares) | 1,263,899 | 1,300,000 | |||||||||||||||||||||||||||||||||
Reversal of derivative liability to equity upon authorized share increase | 4,115,778 | $ 4,115,778 | |||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 49,410,176 | ||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 49,410 | 96,082,324 | (93,524,297) | (67,274) | (911,516) | 1,628,647 | |||||||||||||||||||||||||||||
Reversal of derivative liability for the issuance of shares-to-be-issued | $ 1,264 | $ 1,066,562 | $ 1,067,826 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (7,580,240) | $ (7,691,771) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 47,495 | 66,604 |
Amortization of patents | 53,013 | 814,681 |
Impairment to long lived assets | 1,539,794 | |
Stock compensation | 183,888 | 409,021 |
Loss from earnings on China joint venture | (81,324) | (329,700) |
Inventory reserve | 543,545 | |
Deferred cost reserve | 1,250,928 | |
Change in fair value of derivative liability | 3,635,580 | |
Amortization of right-of-use assets | 155,962 | |
Changes in operating assets and liabilities: | ||
Decrease (Increase) in accounts receivable | 267,791 | (442,943) |
Decrease (Increase) in accounts receivable, related party | 100,000 | (192,540) |
(Increase) in other receivables | (9,027) | |
Decrease in inventories | 300,542 | 914,613 |
(Increase) Decrease in advances on contracts | (61,879) | 48,409 |
(Increase) Decrease in prepaid expenses and other current assets | (104,522) | 21,869 |
Increase in accounts payable | 320,239 | 227,773 |
(Decrease) Increase in accounts payable, related party | (303,346) | 678,171 |
Decrease (Increase) in deferred cost, related party | 50,000 | (191,257) |
Increase in accrued expenses | 273,537 | 620,797 |
Increase (Decrease) in accrued expenses, related party | 1,228,965 | (108,640) |
Decrease in operating lease liability | (155,962) | |
(Decrease) Increase in deferred revenue, related party | (100,000) | 192,540 |
Net cash used in operating activities | (1,779,288) | (1,628,106) |
Cash flows from investing activities: | ||
Purchase of intangible assets | ||
Purchase of property and equipment | (9,916) | (7,401) |
Acquisition of Milestone Education | (8,020) | |
Net cash used in investing activities | (9,916) | (15,421) |
Cash flows from financing activities: | ||
Payments for financing transaction | (250,000) | |
Proceeds from exercise of warrants | 337,500 | |
Net proceeds from Public Placement Offering | 1,974,547 | |
Net proceeds from Private Placement Offering | 250,000 | |
Net cash provided by financing activities | 2,562,047 | (250,000) |
Net increase (decrease) in cash and cash equivalents | 772,843 | (1,893,527) |
Cash and cash equivalents at beginning of period | 743,429 | 2,636,956 |
Cash and cash equivalents at end of period | 1,516,272 | 743,429 |
Supplemental non-cash disclosure of cash flow information: | ||
Shares issued to employee for bonuses | 753,000 | |
Shares issued to board of directors for services rendered | 67,000 | |
Shares issued to employees for compensation | 37,500 | 45,000 |
Shares issued to consultants in lieu of cash payments | 440,400 | 289,750 |
Sale of Milestone China share, financing transaction | (1,400,000) | |
Credit from United Systems for defective handpieces | (151,562) | |
Initial recognition of operating lease-right of use assets | (166,292) | |
Initial recognition of operating lease right to used liabilities | $ 166,292 |
Note A - Organization and Busin
Note A - Organization and Business | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE A — ORGANIZATION AND BUSINESS All references in this report to “Milestone Scientific,” “us,” “our,” “we,” the “Company” or “Milestone” refer to Milestone Scientific Inc., and its consolidated subsidiaries, Wand Dental, Inc., Milestone Advanced Cosmetic Systems, Inc., Milestone Medical, Inc. and Milestone Education LLC (all described below), unless the context otherwise indicates. Milestone Scientific is the owner of the following registered U.S. trademarks: C ompuDent®; CompuMed®; CompuFlo®; DPS Dynamic Pressure Sensing technology®; Milestone Scientific ®; the Milestone logo ®; SafetyWand®; STA Single Tooth Anesthesia System®; and The Wand ®. Milestone Scientific was incorporated in the State of Delaware in August 1989. The Wand® CompuDent®, STA Single Tooth Anesthesia System® CompuMed®. CompuDent® CompuMed® 60 five 5 June 2017, 510 CompuFlo In December 2016, 510 not 510 510 2019, 510 not 2019. 510 2020, In November 2018, not 1003 December 20, 2018, 1003 May 20, 2020. January 24, 2019, not 1003 In February 2019, $2.0 5,715,000 1,428,750 5 $0.50 $198,000 567,400 141,850 Also, in February 2019, $250,000 714,286 178,571 Bp4 Bp4’s 5 $0.50 |
Note B - Going Concern and Liqu
Note B - Going Concern and Liquidity | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE B- GOING CONCERN AND LIQUIDITY The Company has evaluated whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one December 31, 2019, $1.5 not 12 Milestone Scientific is actively pursuing the generation of positive cash flows from operating activities through an increase in revenue from its dental business worldwide, the generation of revenue from its medical devices and disposables business in the United States and worldwide, the reduction in operating expenses and other strategic plans or transactions. As a result of the reduced hours and closings of dental offices throughout the country and the rest of the world due to the continuing spread of Covid- 19, second third second third 19 may fourth 2020. Subsequent Events. no 19, may not These consolidated financial statements have been prepared with the assumption that the Company will continue as a going concern and will be able to realize its assets and discharge its liabilities in the normal course of business and do not may |
Note C - Summary of Significant
Note C - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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 was a variable interest entity of which Milestone Scientific is the primary beneficiary and is consolidated into Milestone Scientific's financial statements. During 2018, 50% 100%. 2. Certain reclassifications have been made to the 2018 2019 no 3. + The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, and cash flow assumptions regarding evaluations for impairment of long-lived assets and going concern considerations, and valuation allowances on deferred tax assets. Actual results could differ from those estimates . 4. Under ASC 606, 606, five i. identification of the promised goods or services in the contract; ii. determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; iii. measurement of the transaction price, including the constraint on variable consideration; iv. allocation of the transaction price to the performance obligations based on estimated selling prices; and v. recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The Company derives its revenues from the sale of its products, primarily dental instruments, handpieces, and other related products. The Company sells its products through a global distribution network and that includes both exclusive and non-exclusive distribution agreements with related and third Revenue from product sales is recognized upon transfer of control of a product to a customer, generally upon date of shipment. For certain arrangements where the shipping terms are FOB destination, revenue is recognized upon delivery. The Company has no Sales Returns The Company records allowances for product returns as a reduction of revenue at the time product sales are recorded. Several factors are considered in determining whether an allowance for product returns is required, including the customers’ return rights and the Company’s historical experience with returns and the amount of product in the distribution channel not may Financing and Payment Our payment terms differ by geography and customer, but payment is generally required within 90 Disaggregation of Revenue We operate in two December 31, 2019 2018. 5. A variable interest entity ("VIE") is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity's economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. If Milestone Scientific determines that it has operating power and the obligation to absorb losses or receive benefits, Milestone Scientific consolidates the VIE as the primary beneficiary. Milestone Scientific’s involvement constitutes power that is most significant to the entity when it has unconstrained decision-making ability over key operational functions within the entity. Because Milestone Scientific has a variable interest in Milestone China, it considered the guidance in ASC 810, ● Power Criterion: The power to direct the activities that most significantly impact the entity’s economic performance; and ● Losses/Benefits Criterion: The obligation to absorb losses that could potentially be significant or the right to receive benefits that could potentially be significant to the VIE Milestone Scientific does not not not 810. not 6. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three may 7. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the ability or inability of its customers to make payments on amounts billed. Most credit sales are due within 90 not December 31, 2019 2018, $10,000 . 8. Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first December 31, 2019 2018, $768,000 $763,000, 9. Investments in which Milestone Scientific can exercise significant influence, but do not may 10. Equipment is recorded at cost, less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets, which range from two seven 11. Patents are recorded at cost to prepare and file the applicable documents with the US Patent Office, or internationally with the applicable governmental office in the respective country. The costs related to these patents are being amortized using the straight-line method over the estimated useful life of the patent. Patents and other developed technology acquired from another business entity will be amortized at the estimated 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. 12. Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not • significant under performance relative to expected historical or projected future operating results, • significant changes in the manner of our use of the acquired assets or the strategy for our overall business • significant negative industry or economic trends • significant technological changes, which would render the technology obsolete Recoverability of assets that will continue to be used in the Company's operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. See Note J. 13. Research and development costs, which consist principally of new product development costs payable to third 14. Milestone Scientific accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. At December 31, 2019 2018, no No 2016, 2017, 2018 15. Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we apply the two two two not not The Company did not Since Milestone Scientific had net losses for 2019 2018, not 2,336,611 9,279,234 December 31, 2019 2018, 16. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market at the measurement date (exit price). We are required to classify fair value measurements in one ● Level 1 ● Level 2 1 ● Level 3 Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of an input to the fair value measurement requires judgment and may December 31, 2019 2018 not During the year ended December 31, 2019 not 3 1 December 17, 2019 3 December 31, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note I) 376,497 Employee options reclassified as derivative liability 422,484 Change in value of derivative securities – exercised 500,000 Reversal of derivative liability for exercised warrants (655,000) Change in fair value of derivative securities - not exercised 820,954 Reversal of Level 3 of derivative liability to equity upon authorized share increase (1,464,935) Balance at end of period $ - 17. The Company does not 815, 18. 718, 718 19. In June 2016, No.2016 13, 326 December 15, 2022. In November 2016, No.2016 18, 230 not On November 28, 2018, 2018 13, 820 820. 1 2 3 3 2018 13 December 15, 2019, 2018 13. 2020 not On January 1, 2019, No. 2016 02, 842 2016 02 2018 11, 840, not In adopting the new standard, the Company elected to utilize the available package of practical expedients permitted under the transition guidance, which does not three $166,292 not 842 |
Note D - Inventories
Note D - Inventories | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE D — INVENTORIES Inventories consist of the following: December 31, 2019 December 31, 2018 Dental finished goods, net $ 1,306,763 $ 1,609,000 Medical finished goods, net 213,861 188,133 Component parts and other materials 99,885 123,918 Total inventories $ 1,620,509 $ 1,921,051 At December 31, 2019, $450,000 $318,000. July 2019, $151,000 2018. December 31, 2018, $454,183 $309,196. |
Note E - Advances on Contracts
Note E - Advances on Contracts | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Advances to Contract Manufacturer [Text Block] | NOTE E — ADVANCES ON CONTRACTS The advances on contracts represent funding of future STA, and epidural inventory purchases and epidural replacements parts. The balance of the advances as of December 31, 2019 2018 $710,000 $649,000 |
Note F - Investment in and Tran
Note F - Investment in and Transactions with Unconsolidated Subsidiaries | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE F – INVESTMENT IN AND TRANSACTIONS WITH UNCONSOLIDATED SUBSIDIARIES Milestone China Ltd. Ownership In June 2014, $1 772 40% Related Party Transactions Milestone China is Milestone Scientific’s exclusive distributor in China. During 2017 2018, 2018 $2.8 $200,000 July 2018 November 2018 $1,425,000 December 2018. $950,000 $1.8 $1.25 $1.25 fourth 2018. During the year ended December 31, 2019, 2018 $259,000, $104,000. 2018, $900,000 As of December 31, 2018, $100,000 $50,000, 2019 no December 31, 2019. Gross Profit Deferral Due to timing differences of when the inventory sold to Milestone China is recognized and when Milestone China sells the acquired inventory to third 323 40% third At December 31, 2019 2018, $340,476 $421,800 twelve December 31, 2019 2018, $81,324 $329,700 third Equity Method Disclosures As of December 31, 2019, 2018, $ 0 December 31, 2019, 2018, $4,308,596 $3,380,388, The following table includes summarized financial information (unaudited) of Milestone China: December 31, 2019 December 31, 2018 Assets: (unaudited) (unaudited) Current assets $ 8,392,858 $ 10,587,648 Non-current assets 5,082,313 4,603,845 Total assets: $ 13,475,171 $ 15,191,493 Liabilities and stockholders’ deficit: Current liabilities $ 17,910,452 $ 17,696,393 Stockholders' deficit (4,435,281 ) (2,504,900 ) Total liabilities and stockholders’ deficit $ 13,475,171 $ 15,191,493 December 31, 2019 December 31, 2018 (unaudited) (unaudited) Net sales $ 3,401,025 $ 1,710,473 Cost of goods sold 1,724,882 789,957 Gross profit 1,676,143 920,516 Other expenses (3,996,663 ) (1,371,085 ) Net loss $ (2,320,520 ) $ (450,569 ) |
Note G - Furniture, Fixtures an
Note G - Furniture, Fixtures and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE G— FURNITURE, FIXTURES AND EQUIPMENT 2019 2018 Furniture, Fixtures and Equipment consist of the following: Leasehold improvements $ 24,734 $ 24,734 Office furniture and equipment 134,947 134,947 Molds 7,200 7,200 Trade show displays 151,462 143,357 Computers and software 280,577 278,766 Tooling Safety Wand 125,022 125,022 Tooling equipment-STA & Wand 11,100 11,100 EPI and IA Instruments 82,363 82,363 STA Trials Instruments 63,752 63,752 Total 881,157 871,241 Less accumulated depreciation (836,181 ) (788,684 ) Total $ 44,976 $ 82,557 Depreciation expense was approximately $47,500 $66,600 December 31, 2019 2018, |
Note H - Patents
Note H - Patents | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE H — PATENTS December 31, 2019 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (995,603 ) $ 382,260 Total $ 1,377,863 $ - $ (995,603 ) $ 382,260 December 31, 2018 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (942,590 ) $ 435,273 Epidural-Apad acquired patents 2,639,647 (1,539,794 ) (1,099,853 ) - Total $ 4,017,510 $ (1,539,794 ) $ (2,042,443 ) $ 435,273 Patents are amortized utilizing the straight-line method over estimated useful lives ranging from 3 20 $53,013 $814,681 December 31, 2019 2018, 2020 2024 $53,000, $53,000, $53,000, $47,000 $33,000. On July 13, 2017, $2,639,000 three During 2018, not $1.5 |
Note I - Stockholders' Equity
Note I - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE I — STOCKHOLDERS’ EQUITY PUBLIC OFFERING AND PRIVATE PLACEMENT In February 2019, $2.0 5,715,000 1,428,750 5 $0.50 $198,000 567,400 141,850 Also, in February 2019, $250,000 714,286 178,571 Bp4 Bp4’s 5 $0.50 WARRANTS The following table summarizes information about shares issuable under warrants outstanding at December 31, 2019: Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2019 1,592,775 2.55 0.21 - Issued 1,749,171 0.50 4.10 1,556,762 Exercised (675,000 ) 0.50 - 532,413 Expired or cancelled (1,592,775 ) 2.55 - - Outstanding and exercisable at December 31, 2019 1,074,171 0.50 4.10 956,012 Exercisable at December 31, 2019 1,074,171 0.50 4.10 956,012 PREFERRED STOCK In May 2014, $10 $3 two million $1.50 $7 7,000 $1,000 $2.545, May 14, 2019. These shares were mandatory convertible on May 14, 2019, $2.54 $1.50 not $3.15 On May 14, 2019, $1.17 5,982,906 SHARES TO BE ISSUED As of December 31, 2019, 2,226,473 December 31, 2018, 1,908,814 As of December 31, 2019 2018, 149,287 561,752 The following table summarizes information about shares to be issue at December 31, 2019. December 31, 2019 Shares-to-be-issued, outstanding December 31, 2018 2,470,566 Granted in current year 2,103,793 Issued in current year (2,198,599) Shares-to-be-issued outstanding, December 31, 2019 2,375,760 OUTSTANDING EQUITY INSTRUMENTS IN EXCESS OF AUTHORIZED SHARES As a result of the shares and warrants issued in the public and private offerings as well as other issuance of common stock during 2019, not During 2019, 1.6 2016 1.7 2019 0.6 3.4 $ $376,000, $422,000, $1,405,000, 665,000 2019, 1.3 $0.5 $0.5 $0.65 $1.07 The fair value of the Company’s shares to be issued is measured using the trading price of the Company’s stock on the measurement and reclassification dates and the fair value of the warrants and stock options is determined using a Black-Scholes option pricing model on the measurement and reclassification dates On December 17, 2019, 75,000,000, 1.6 2016 1.1 2019 0.6 2.1 $-, $860,000, $40,000 $1,800,000, $2.6 December 17, 2019, $-, $1,095,000, $380,000, $2,640,000, $4.1 The following assumptions were used to value the warrants and stock options at the reclassification to liability date: 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $0.36-$.83 $ 0.33 $ 1.07 1.60 Expected Term .2-.5 years 4.9 years 1.1 – 2.22 years Volatility 86%-100 % 83 % 91.8 102.3 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.88%-2.09 % 2.30 % 1.68 1.53 % Weighted average fair value of securities granted $ - $ 0.22 $ 0.72 Number of shares underlying securities granted 1,592,775 1,749,171 592,358 The reclassification to derivative liability for the 2016 2019 0, $376,00 $422,000 3.4 $0.42 $1.4 During the year ended December 31, 2019 675,000 2019 Warrants Fair Value of Common Stock $ 0.83 1.42 Expected Term 4.2 -4.3 years Volatility 86 87 % Dividend yield 0.00 % Exercise Price $ 0.50 Risk-free interest rate 1.38 1.73 % Weighted average fair value of warrants exercised $ 0.98 Number of shares underlying warrants exercised 665,000 The reclassification to additional paid in capital was approximately $655,000, $500,000 2019, 1.3 $0.84 $1.07 $500,000 In December 2019, 75,000,000, 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $ 1.28 $ 1.28 $ 1.28 Expected Term 0.1 years 4.1 years 1- 2.1 years Volatility 38 % 88 % 92-102 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.56 % 1.71 % 1.53 1.63 % Weighted average fair value of warrants granted $ - $ 1.01 $ 0.64 Number of shares underlying warrants granted 1,592,775 1,084,171 592,358 The reclassification to additional paid in capital for the 2016 2019 $-, $1,095,000, $380,000, $-, $860,000, $40,000 2.1 $2.7 $1.8 |
Note J - Stock Option Plans
Note J - Stock Option Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE J — STOCK OPTION PLANS The 2004 750,000 may not three five no December 31, 2019 2018 In June 2011, 2011 "2011 2,000,000 2016 4,000,000. three five Milestone Scientific recognizes compensation expense over the requisite service period and in the case of performance-based options over the period of the expected performance. For the twelve December 31, 2019 2018, $181,448 $398,301 December 31, 2019 2018, $82,526 $263,974 1 1.75 December 31, 2019 2018, A summary of option activity for employees under the plans and changes during the years ended December 31, 2019 2018 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2017 1,985,335 1.74 3.04 25,160 Granted - - - - Exercised during 2018 - - - - Forfeited or expired (315,114 ) 1.50 - - Options outstanding December 31, 2018 1,670,221 1.71 2.40 - Exercisable, December 31, 2018 1,317,632 1.79 2.15 - Granted - - - - Exercised during 2019 - - - - Forfeited or expired (457,779 ) 1.96 - - Options outstanding December 31, 2019 1,212,442 1.61 2.00 114,570 Exercisable, December 31, 2019 1,117,834 1.65 1.90 88,982 A summary of option activity for non-employees under the plans and changes during the years ended December 31, 2019 2018, Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2017 224,999 2.53 4.32 - Granted 8,333 0.75 4.33 Exercised during 2018 - - - - Forfeited or expired (200,000 ) 2.55 - Options outstanding December 31, 2018 33,332 1.87 2.94 Exercisable, December 31, 2018 27,777 2.10 2.66 Granted 16,666 0.55 4.43 13,999 Exercised during 2019 - - - - Forfeited or expired - - - Options outstanding December 31, 2019 49,998 1.43 2.94 19,333 Exercisable, December 31, 2019 36,109 1.76 2.44 8,222 The fair value of the non-employee options was estimated on the date of grant using the Black Scholes option-pricing model at the date of grant. For the twelve December 31, 2019 2018, $2,439 $9,384 |
Note K - Employment Contract an
Note K - Employment Contract and Consulting Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Employment and Consulting Agreements [Text Block] | NOTE K–EMPLOYMENT CONTRACT AND CONSULTING AGREEMENTS Employment Contracts On December 1, 2016, $280,000 one September 1, 2016 August 31, 2017 ( one September 1st August 31st June 1st not In July 2017, ten $300,000 $100,000 $200,000 first fifteen 15 one 280G 4 In July 2017, ten $100,000 On December 19, 2017 not no may |
Note L - Income Taxes
Note L - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE L — INCOME TAXES Due to Milestone Scientific's history of operating losses, a full valuation allowances have been provided for all of Milestone Scientific's deferred tax assets. At December 31, 2019 2018, no Deferred tax attributes resulting from differences between financial accounting amounts and tax bases of assets and liabilities at December 31, 2019 2018 2019 2018 Allowance for doubtful accounts $ 2,000 $ 3,000 Warranty reserve 5,000 29,000 Impaired Assets - 435,000 Inventory Reserve 178,000 551,000 Deferred officers' compensation 820,000 715,000 Depreciation and Amortization (103,000 ) 345,000 Net operating loss carryforward 16,504,000 16,500,000 Tax Credit 384,000 - Other (28,000 ) - Subtotal 17,762,000 18,578,000 Valuation allowance (17,762,000 ) (18,578,000 ) Non-current deferred tax asset $ - $ - As of December 31, 2019, $59,000,000. December 31, 2018, $65,300,000, December 31, 2017 December 2037. 2018 December 31, 2019, 56,700,000. December 31, 2019 2018, $39,400,000 $30,800,000, December 2039. may 382 may 100% December 31, 2019, 2018, $18,000 $24,000 Accounting for uncertainties in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and provides guidance on derecognition, classification, interest and penalties, disclosure and transition. At December 31, 2019 2018, no No 2016, 2017, 2018 A reconciliation of the statutory tax rates for the years ended December 31, 2019 2018 Statutory rate 21 % 21 % State income tax-all states 4 % 7 % Change in fair value of derivative -11 % 0 % NOL Expiration -22 % 0 % Other -3 % 0 % Subtotal -11 % 28 % Valuation allowance 11 % -28 % Effective tax rate 0 % 0 % |
Note M - Segment and Geographic
Note M - Segment and Geographic Data | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Product Sales and Significant Customers and Vendors Disclosure [Text Block] | NOTE M — SEGMENT AND GEOGRAPHIC DATA We conduct our business through two Years Ended December 31, Sales Net Sales: 2019 2018 Dental $ 8,336,901 $ 9,502,276 Medical 37,600 119,800 Total net sales $ 8,374,501 $ 9,622,076 Operating Income (Loss): 2019 2018 Dental $ 2,775,716 $ 1,373,178 Medical (2,350,103 ) (2,611,231 ) Corporate (4,424,606 ) (6,761,282 ) Total operating loss $ (3,998,993 ) $ (7,999,335 ) Depreciation and Amortization: 2019 2018 Dental $ 15,793 $ 16,474 Medical 8,392 24,492 Corporate 76,323 840,319 Total depreciation and amortization $ 100,508 $ 881,285 Income (loss) before taxes and equity in earnings of affiliates: 2019 2018 Dental $ 2,774,332 $ 1,363,662 Medical (2,353,194 ) (2,704,630 ) Corporate (8,064,576 ) (6,658,152 ) Total loss before taxes and equity in earnings of affiliate $ (7,643,438 ) $ (7,999,120 ) Total Assets 2019 2018 Dental $ 5,008,324 $ 5,169,944 Medical 590,727 328,208 Corporate 957,238 902,816 Total loss before taxes and equity in earnings of affiliate $ 6,556,289 $ 6,400,968 The following table presents information about our operations by geographic area as December 31, 2019 2018. Total Product Sales-Dental 2019 2018 Domestic-US and Canada $ 4,512,904 $ 4,798,706 International Rest of World 3,665,347 3,803,570 International-China 158,650 900,000 Total Product Sales-Dental $ 8,336,901 $ 9,502,276 Total Product Sales-Medical Domestic-US and Canada $ 13,700 $ 32,500 International Rest of World 23,900 87,300 International-China - - Total Product Sales-Medical $ 37,600 $ 119,800 Domestic-US and Canada $ 4,526,604 $ 4,831,206 International Rest of World 3,689,247 3,890,870 International-China 158,650 900,000 Total $ 8,374,501 $ 9,622,076 |
Note N - Concentrations
Note N - Concentrations | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE N-- CONCENTRATIONS Milestone Scientific has informal arrangements with third CompuDent CompuMed December 31, 2019 2018. For the twelve December 31,2019 53% one twelve December 31, 2018, 53% two one 43% 10% Accounts receivable for the major customer/distributors amounted to approximately or 77%, December 31, 2019. 82%, 49% 33% December 31, 2018. December 31, 2018, $1,917,990 $1,817,990 December 31, 2018. $1,250,928 Business interruptions, including any interruptions resulting from COVID- 19, Subsequent Events) third third third may |
Note O - Related Party Transact
Note O - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE O -- RELATED PARTY TRANSACTIONS United Systems Milestone Scientific has a manufacturing agreement with United Systems (whose controlling shareholder, Tom Cheng, is a significant stockholder of Milestone Scientific), the principal manufacturer of its handpieces, pursuant to which it manufactures products under specific purchase orders, but without minimum purchase commitments. Purchases from this manufacturer were $1.2 December 31, 2019 2018. December 31, 2019 2018, $943,000 $1.3 February 2019, 285,714 $0.35 $100,000 July 2019. During 2018 December 31, 2019, $342,540 Also, during the year ended December 31, 2018, 1,000 June 2018, $750,000 December 31, 2018. December 31, 2018, $750,000 $686,365, In July 2019, $151,000 2018. Milestone China Milestone Scientific owns a 40% Other As of December 31, 2019 2018 $493,000 $386,000, As of December 31, 2019 2018 $56,800 $28,400, As of December 31, 2019 2018 $380,000, $216,000, In August 2016, three $100,000 December 31, 2019 2018, In January 2017, twelve twelve $80,000 December 31, 2019 2018, The Director of Clinical Affairs’ royalty fee was approximately $403,000 $465,000 December 31, 2019 2018, $156,000 $186,000 December 31, 2019, 2018, December 31, 2019 2018 $390,000 $364,000, |
Note P - Commitments
Note P - Commitments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE P — COMMITMENTS ( 1 Milestone Scientific has informal arrangements with third July 2019, 1,400 December 31, 2019, $1,067,073, $437,512 August 2019, 100 2020. December 31, 2019, $299,000 100 $149,500 2021, $123,649 See Note R- Subsequent Events ( 2 Operating Leases In June 2015, 6,851 774 January 31, 2020 $12,522. not not not In August 2019, not seven 7 $9,275 $10,898, April 1, 2020.The $2.00 $11,130 $927.50. The Company identified and assessed the following significant assumptions in recognizing its right-of-use assets and corresponding lease liabilities: ● As the Company’s leases do not ● Since the Company elected to account for each lease component and its associated non-lease components as a single combined lease component, all contract consideration was allocated to the combined lease component. ● The expected lease terms include non-cancellable lease periods. Renewal option periods are not not The components of lease expense as of December 31, 2019 Lease cost As of December 31,2019 Operating lease expense $ 158,218 Total lease expense $ 158,218 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 158,218 Right-of-use assets obtained in exchange for new operating lease liabilities - Weighted-average remaining lease term - operating leases 0.2 years Weighted-average discount rate - operating leases 9.20 % Maturity of lease liabilities As of December 31, 2019 2020 16,030 2021 - 2022 - 2023 - 2024 - Thereafter - Total lease payments 16,030 Less: interest (53 ) Present value of lease liabilities 15,977 Total lease payments presented in the table above excludes legally binding minimum lease payments for operating leases signed for a the Roseland Facility that will commence April 1, 2020. not December 31, 2019 not December 31, 2019. ( 3 The technology underlying the Safety Wand® and CompuFlo CompuDent January 1, 2005. 2.5% 5% third The Director of Clinical Affairs’ royalty fee was approximately $403,000 $465,000 December 31, 2019 2018, $156,000 $186,000 December 31, 2019, 2018, December 31, 2019 2018 $390,000 $364,000, |
Note Q - Pension Plan
Note Q - Pension Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE Q — 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 R - Subsequent Events
Note R - Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE R — SUBSEQUENT EVENTS Since the year ended December 31, 2019, 460,725 $0.50 $230,363. The coronavirus (COVID- 19 December 2019 third third may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
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 was a variable interest entity of which Milestone Scientific is the primary beneficiary and is consolidated into Milestone Scientific's financial statements. During 2018, 50% 100%. |
Reclassification, Policy [Policy Text Block] | 2. Certain reclassifications have been made to the 2018 2019 no |
Use of Estimates, Policy [Policy Text Block] | 3. + The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, and cash flow assumptions regarding evaluations for impairment of long-lived assets and going concern considerations, and valuation allowances on deferred tax assets. Actual results could differ from those estimates . |
Revenue [Policy Text Block] | 4. Under ASC 606, 606, five i. identification of the promised goods or services in the contract; ii. determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; iii. measurement of the transaction price, including the constraint on variable consideration; iv. allocation of the transaction price to the performance obligations based on estimated selling prices; and v. recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The Company derives its revenues from the sale of its products, primarily dental instruments, handpieces, and other related products. The Company sells its products through a global distribution network and that includes both exclusive and non-exclusive distribution agreements with related and third Revenue from product sales is recognized upon transfer of control of a product to a customer, generally upon date of shipment. For certain arrangements where the shipping terms are FOB destination, revenue is recognized upon delivery. The Company has no Sales Returns The Company records allowances for product returns as a reduction of revenue at the time product sales are recorded. Several factors are considered in determining whether an allowance for product returns is required, including the customers’ return rights and the Company’s historical experience with returns and the amount of product in the distribution channel not may Financing and Payment Our payment terms differ by geography and customer, but payment is generally required within 90 Disaggregation of Revenue We operate in two December 31, 2019 2018. |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | 5. A variable interest entity ("VIE") is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity's economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. If Milestone Scientific determines that it has operating power and the obligation to absorb losses or receive benefits, Milestone Scientific consolidates the VIE as the primary beneficiary. Milestone Scientific’s involvement constitutes power that is most significant to the entity when it has unconstrained decision-making ability over key operational functions within the entity. Because Milestone Scientific has a variable interest in Milestone China, it considered the guidance in ASC 810, ● Power Criterion: The power to direct the activities that most significantly impact the entity’s economic performance; and ● Losses/Benefits Criterion: The obligation to absorb losses that could potentially be significant or the right to receive benefits that could potentially be significant to the VIE Milestone Scientific does not not not 810. not |
Cash and Cash Equivalents, Policy [Policy Text Block] | 6. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three may |
Accounts Receivable [Policy Text Block] | 7. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the ability or inability of its customers to make payments on amounts billed. Most credit sales are due within 90 not December 31, 2019 2018, $10,000 . |
Inventory, Policy [Policy Text Block] | 8. Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first December 31, 2019 2018, $768,000 $763,000, |
Equity Method Investments [Policy Text Block] | 9. Investments in which Milestone Scientific can exercise significant influence, but do not may |
Property, Plant and Equipment, Policy [Policy Text Block] | 10. Equipment is recorded at cost, less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets, which range from two seven |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | 11. Patents are recorded at cost to prepare and file the applicable documents with the US Patent Office, or internationally with the applicable governmental office in the respective country. The costs related to these patents are being amortized using the straight-line method over the estimated useful life of the patent. Patents and other developed technology acquired from another business entity will be amortized at the estimated 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. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | 12. Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not • significant under performance relative to expected historical or projected future operating results, • significant changes in the manner of our use of the acquired assets or the strategy for our overall business • significant negative industry or economic trends • significant technological changes, which would render the technology obsolete Recoverability of assets that will continue to be used in the Company's operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. See Note J. |
Research and Development Expense, Policy [Policy Text Block] | 13. Research and development costs, which consist principally of new product development costs payable to third |
Income Tax, Policy [Policy Text Block] | 14. Milestone Scientific accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. At December 31, 2019 2018, no No 2016, 2017, 2018 |
Earnings Per Share, Policy [Policy Text Block] | 15. Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we apply the two two two not not The Company did not Since Milestone Scientific had net losses for 2019 2018, not 2,336,611 9,279,234 December 31, 2019 2018, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | 16. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market at the measurement date (exit price). We are required to classify fair value measurements in one ● Level 1 ● Level 2 1 ● Level 3 Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of an input to the fair value measurement requires judgment and may December 31, 2019 2018 not During the year ended December 31, 2019 not 3 1 December 17, 2019 3 December 31, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note I) 376,497 Employee options reclassified as derivative liability 422,484 Change in value of derivative securities – exercised 500,000 Reversal of derivative liability for exercised warrants (655,000) Change in fair value of derivative securities - not exercised 820,954 Reversal of Level 3 of derivative liability to equity upon authorized share increase (1,464,935) Balance at end of period $ - |
Derivatives, Policy [Policy Text Block] | 17. The Company does not 815, |
Share-based Payment Arrangement [Policy Text Block] | 18. 718, 718 |
New Accounting Pronouncements, Policy [Policy Text Block] | 19. In June 2016, No.2016 13, 326 December 15, 2022. In November 2016, No.2016 18, 230 not On November 28, 2018, 2018 13, 820 820. 1 2 3 3 2018 13 December 15, 2019, 2018 13. 2020 not On January 1, 2019, No. 2016 02, 842 2016 02 2018 11, 840, not In adopting the new standard, the Company elected to utilize the available package of practical expedients permitted under the transition guidance, which does not three $166,292 not 842 |
Note C - Summary of Significa_2
Note C - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | December 31, 2019 Balance at beginning of year $ - Warrants issued in connection with public offering (See Note I) 376,497 Employee options reclassified as derivative liability 422,484 Change in value of derivative securities – exercised 500,000 Reversal of derivative liability for exercised warrants (655,000) Change in fair value of derivative securities - not exercised 820,954 Reversal of Level 3 of derivative liability to equity upon authorized share increase (1,464,935) Balance at end of period $ - |
Note D - Inventories (Tables)
Note D - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following: December 31, 2019 December 31, 2018 Dental finished goods, net $ 1,306,763 $ 1,609,000 Medical finished goods, net 213,861 188,133 Component parts and other materials 99,885 123,918 Total inventories $ 1,620,509 $ 1,921,051 |
Note F - Investment in and Tr_2
Note F - Investment in and Transactions with Unconsolidated Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | December 31, 2019 December 31, 2018 Assets: (unaudited) (unaudited) Current assets $ 8,392,858 $ 10,587,648 Non-current assets 5,082,313 4,603,845 Total assets: $ 13,475,171 $ 15,191,493 Liabilities and stockholders’ deficit: Current liabilities $ 17,910,452 $ 17,696,393 Stockholders' deficit (4,435,281 ) (2,504,900 ) Total liabilities and stockholders’ deficit $ 13,475,171 $ 15,191,493 December 31, 2019 December 31, 2018 (unaudited) (unaudited) Net sales $ 3,401,025 $ 1,710,473 Cost of goods sold 1,724,882 789,957 Gross profit 1,676,143 920,516 Other expenses (3,996,663 ) (1,371,085 ) Net loss $ (2,320,520 ) $ (450,569 ) |
Note G - Furniture, Fixtures _2
Note G - Furniture, Fixtures and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2019 2018 Furniture, Fixtures and Equipment consist of the following: Leasehold improvements $ 24,734 $ 24,734 Office furniture and equipment 134,947 134,947 Molds 7,200 7,200 Trade show displays 151,462 143,357 Computers and software 280,577 278,766 Tooling Safety Wand 125,022 125,022 Tooling equipment-STA & Wand 11,100 11,100 EPI and IA Instruments 82,363 82,363 STA Trials Instruments 63,752 63,752 Total 881,157 871,241 Less accumulated depreciation (836,181 ) (788,684 ) Total $ 44,976 $ 82,557 |
Note H - Patents (Tables)
Note H - Patents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2019 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (995,603 ) $ 382,260 Total $ 1,377,863 $ - $ (995,603 ) $ 382,260 December 31, 2018 Cost Impairment Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ - $ (942,590 ) $ 435,273 Epidural-Apad acquired patents 2,639,647 (1,539,794 ) (1,099,853 ) - Total $ 4,017,510 $ (1,539,794 ) $ (2,042,443 ) $ 435,273 |
Note I - Stockholders' Equity (
Note I - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2019 1,592,775 2.55 0.21 - Issued 1,749,171 0.50 4.10 1,556,762 Exercised (675,000 ) 0.50 - 532,413 Expired or cancelled (1,592,775 ) 2.55 - - Outstanding and exercisable at December 31, 2019 1,074,171 0.50 4.10 956,012 Exercisable at December 31, 2019 1,074,171 0.50 4.10 956,012 |
Deferred Compensation Arrangement with Individual, Share-based Payments [Table Text Block] | December 31, 2019 Shares-to-be-issued, outstanding December 31, 2018 2,470,566 Granted in current year 2,103,793 Issued in current year (2,198,599) Shares-to-be-issued outstanding, December 31, 2019 2,375,760 |
Schedule of Warrant or Right Outstanding and Options, Valuation Assumptions [Table Text Block] | 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $0.36-$.83 $ 0.33 $ 1.07 – 1.60 Expected Term .2-.5 years 4.9 years 1.1 – 2.22 years Volatility 86%-100 % 83 % 91.8 – 102.3 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 – 2.09 Risk-free interest rate 1.88%-2.09 % 2.30 % 1.68 – 1.53 % Weighted average fair value of securities granted $ - $ 0.22 $ 0.72 Number of shares underlying securities granted 1,592,775 1,749,171 592,358 |
Schedule Of Warrant Or Right Exercised Valuation Assumptions [Table Text Block] | 2019 Warrants Fair Value of Common Stock $ 0.83 1.42 Expected Term 4.2 -4.3 years Volatility 86 87 % Dividend yield 0.00 % Exercise Price $ 0.50 Risk-free interest rate 1.38 1.73 % Weighted average fair value of warrants exercised $ 0.98 Number of shares underlying warrants exercised 665,000 |
Warrant Liabilities [Member] | |
Notes Tables | |
Schedule of Warrant or Right Outstanding and Options, Valuation Assumptions [Table Text Block] | 2016 Warrants 2019 Warrants Employee Stock Options Fair Value of Common Stock $ 1.28 $ 1.28 $ 1.28 Expected Term 0.1 years 4.1 years 1- 2.1 years Volatility 38 % 88 % 92-102 % Dividend yield 0.00 % 0.00 % 0.00 % Exercise Price $ 2.55 $ 0.50 $ 1.04 2.09 Risk-free interest rate 1.56 % 1.71 % 1.53 1.63 % Weighted average fair value of warrants granted $ - $ 1.01 $ 0.64 Number of shares underlying warrants granted 1,592,775 1,084,171 592,358 |
Note J - Stock Option Plans (Ta
Note J - Stock Option Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2017 1,985,335 1.74 3.04 25,160 Granted - - - - Exercised during 2018 - - - - Forfeited or expired (315,114 ) 1.50 - - Options outstanding December 31, 2018 1,670,221 1.71 2.40 - Exercisable, December 31, 2018 1,317,632 1.79 2.15 - Granted - - - - Exercised during 2019 - - - - Forfeited or expired (457,779 ) 1.96 - - Options outstanding December 31, 2019 1,212,442 1.61 2.00 114,570 Exercisable, December 31, 2019 1,117,834 1.65 1.90 88,982 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding December 31, 2017 224,999 2.53 4.32 - Granted 8,333 0.75 4.33 Exercised during 2018 - - - - Forfeited or expired (200,000 ) 2.55 - Options outstanding December 31, 2018 33,332 1.87 2.94 Exercisable, December 31, 2018 27,777 2.10 2.66 Granted 16,666 0.55 4.43 13,999 Exercised during 2019 - - - - Forfeited or expired - - - Options outstanding December 31, 2019 49,998 1.43 2.94 19,333 Exercisable, December 31, 2019 36,109 1.76 2.44 8,222 |
Note L - Income Taxes (Tables)
Note L - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2019 2018 Allowance for doubtful accounts $ 2,000 $ 3,000 Warranty reserve 5,000 29,000 Impaired Assets - 435,000 Inventory Reserve 178,000 551,000 Deferred officers' compensation 820,000 715,000 Depreciation and Amortization (103,000 ) 345,000 Net operating loss carryforward 16,504,000 16,500,000 Tax Credit 384,000 - Other (28,000 ) - Subtotal 17,762,000 18,578,000 Valuation allowance (17,762,000 ) (18,578,000 ) Non-current deferred tax asset $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2019 2018 Statutory rate 21 % 21 % State income tax-all states 4 % 7 % Change in fair value of derivative -11 % 0 % NOL Expiration -22 % 0 % Other -3 % 0 % Subtotal -11 % 28 % Valuation allowance 11 % -28 % Effective tax rate 0 % 0 % |
Note M - Segment and Geograph_2
Note M - Segment and Geographic Data (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Years Ended December 31, Sales Net Sales: 2019 2018 Dental $ 8,336,901 $ 9,502,276 Medical 37,600 119,800 Total net sales $ 8,374,501 $ 9,622,076 Operating Income (Loss): 2019 2018 Dental $ 2,775,716 $ 1,373,178 Medical (2,350,103 ) (2,611,231 ) Corporate (4,424,606 ) (6,761,282 ) Total operating loss $ (3,998,993 ) $ (7,999,335 ) Depreciation and Amortization: 2019 2018 Dental $ 15,793 $ 16,474 Medical 8,392 24,492 Corporate 76,323 840,319 Total depreciation and amortization $ 100,508 $ 881,285 Income (loss) before taxes and equity in earnings of affiliates: 2019 2018 Dental $ 2,774,332 $ 1,363,662 Medical (2,353,194 ) (2,704,630 ) Corporate (8,064,576 ) (6,658,152 ) Total loss before taxes and equity in earnings of affiliate $ (7,643,438 ) $ (7,999,120 ) Total Assets 2019 2018 Dental $ 5,008,324 $ 5,169,944 Medical 590,727 328,208 Corporate 957,238 902,816 Total loss before taxes and equity in earnings of affiliate $ 6,556,289 $ 6,400,968 |
Sales by Product and by Geographical Region [Table Text Block] | Total Product Sales-Dental 2019 2018 Domestic-US and Canada $ 4,512,904 $ 4,798,706 International Rest of World 3,665,347 3,803,570 International-China 158,650 900,000 Total Product Sales-Dental $ 8,336,901 $ 9,502,276 Total Product Sales-Medical Domestic-US and Canada $ 13,700 $ 32,500 International Rest of World 23,900 87,300 International-China - - Total Product Sales-Medical $ 37,600 $ 119,800 Domestic-US and Canada $ 4,526,604 $ 4,831,206 International Rest of World 3,689,247 3,890,870 International-China 158,650 900,000 Total $ 8,374,501 $ 9,622,076 |
Note P - Commitments (Tables)
Note P - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lease, Cost and Other Information [Table Text Block] | Lease cost As of December 31,2019 Operating lease expense $ 158,218 Total lease expense $ 158,218 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 158,218 Right-of-use assets obtained in exchange for new operating lease liabilities - Weighted-average remaining lease term - operating leases 0.2 years Weighted-average discount rate - operating leases 9.20 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturity of lease liabilities As of December 31, 2019 2020 16,030 2021 - 2022 - 2023 - 2024 - Thereafter - Total lease payments 16,030 Less: interest (53 ) Present value of lease liabilities 15,977 |
Note A - Organization and Bus_2
Note A - Organization and Business (Details Textual) | 1 Months Ended | 12 Months Ended | ||||
Mar. 31, 2019USD ($)shares | Feb. 28, 2019USD ($)$ / sharesshares | May 31, 2014USD ($)shares | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2018USD ($)$ / shares | Sep. 30, 2019 | |
Number of Countries in which Entity Operates | 60 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.50 | $ 2.55 | ||||
Proceeds from Issuance of Private Placement | $ | $ 250,000 | $ 10,000,000 | $ 250,000 | |||
Warrants, Public Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,428,750 | |||||
Warrants and Rights Outstanding, Term | 5 years | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.50 | |||||
Underwrite Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 141,850 | 141,850 | ||||
Warrants, Private Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 178,571 | |||||
Warrants and Rights Outstanding, Term | 5 years | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.50 | |||||
Public Offering [Member] | ||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,000,000 | |||||
Stock Issued During Period, Shares, New Issues | 5,715,000 | |||||
Proceeds from Stock Options Exercised | $ | $ 198,000 | $ 198,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 567,400 | 567,400 | ||||
Private Placement [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 714,286 | 2,000,000 |
Note B - Going Concern and Li_2
Note B - Going Concern and Liquidity (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 1,516,272 | $ 743,429 | $ 2,636,956 |
Note C - Summary of Significa_3
Note C - Summary of Significant Accounting Policies (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Jan. 01, 2019USD ($) | |
Number of Operating Segments | 2 | |||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10,000 | $ 10,000 | ||
Inventory Valuation Reserves, Ending Balance | 768,000 | $ 763,000 | ||
Operating Lease, Liability, Total | $ 15,977 | $ 166,292 | ||
Options and Warrants [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 2,336,611 | 9,279,234 | ||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 2 years | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Milestone Education LLC [Member] | ||||
Additional Interest In Subsidiaries Acquired During Period, Percentage. | 50.00% |
Note C - Summary of Significa_4
Note C - Summary of Significant Accounting Policies - Fair Value of Level 3 Instruments (Details) - Derivative Financial Instruments, Liabilities [Member] | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Balance at beginning of year | |
Warrants issued in connection with public offering (See Note I) | 376,497 |
Employee options reclassified as derivative liability | 422,484 |
Change in value of derivative securities – exercised | 500,000 |
Reversal of derivative liability for exercised warrants | (655,000) |
Change in fair value of derivative securities - not exercised | 820,954 |
Reversal of Level 3 of derivative liability to equity upon authorized share increase | (1,464,935) |
Balance at end of period |
Note D - Inventories (Details T
Note D - Inventories (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Jul. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Inventory Valuation Reserves, Ending Balance | $ 768,000 | $ 763,000 | ||
Milestone China [Member] | ||||
Contract with Customer, Asset, Allowance for Credit Loss, Recovery | $ 151,000 | $ 151,000 | ||
Slow Moving Medical Finished Goods [Member] | ||||
Inventory Valuation Reserves, Ending Balance | 450,000 | 454,183 | ||
Slow Moving Dental Finished Goods [Member] | ||||
Inventory Valuation Reserves, Ending Balance | $ 318,000 | $ 309,196 |
Note D - Inventories - Summary
Note D - Inventories - Summary of Inventories (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Component parts and other materials | $ 99,885 | $ 123,918 |
Total inventories | 1,620,509 | 1,921,051 |
Dental Segment [Member] | ||
Finished goods, net | 1,306,763 | 1,609,000 |
Medical Segment [Member] | ||
Finished goods, net | $ 213,861 | $ 188,133 |
Note E - Advances on Contracts
Note E - Advances on Contracts (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Advances on Inventory Purchases | $ 710,662 | $ 648,783 |
Note F - Investment in and Tr_3
Note F - Investment in and Transactions with Unconsolidated Subsidiaries (Details Textual) | 1 Months Ended | 5 Months Ended | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Jun. 30, 2014USD ($) | Nov. 30, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10,000 | $ 10,000 | $ 10,000 | ||
Income (Loss) from Equity Method Investments, Total | 81,324 | 329,700 | |||
Milestone China [Member] | |||||
Equity Method Investments | 0 | $ 1,000,000 | 0 | 0 | |
Long-term Purchase Commitment, Minimum Quantity Required | 772 | ||||
Equity Method Investment, Ownership Percentage | 40.00% | ||||
Financing Receivable, after Allowance for Credit Loss, Total | 2,800,000 | 2,800,000 | |||
Account Receivables, Related Party, Monthly Payment | $ 200,000 | ||||
Accounts Receivable, Related Party, Balloon Payment to be Paid | 1,425,000 | ||||
Proceeds from Collection of Finance Receivables | 950,000 | ||||
Contract With Customer Liability Before Reserve Adjustment | 1,800,000 | 1,800,000 | |||
Capitalized Contract Before Reserve Adjustment | 1,250,000 | 1,250,000 | |||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 1,250,000 | 1,250,000 | |||
Contract with Customer, Liability, Total | 100,000 | 259,000 | 100,000 | ||
Capitalized Contract Cost, Net, Total | 50,000 | 104,000 | 50,000 | ||
Revenue from Related Parties | $ 900,000 | ||||
Contract with Customer, Liability, Revenue Recognized | 0 | ||||
Equity Method Investment, Deferred Intercompany Profit (Loss), Percentage | 40.00% | ||||
Income (Loss) from Equity Method Investments, Total | 81,324 | $ (329,700) | |||
Cost-method Investments, Realized Losses | 4,308,596 | 3,380,388 | |||
Milestone China [Member] | Accounts Receivable from Related Parties [Member] | |||||
Equity Method Investment, Deferred Intercompany Profit (Loss) | $ 421,800 | $ 340,476 | $ 421,800 |
Note F - Investment in and Tr_4
Note F - Investment in and Transactions with Unconsolidated Subsidiaries - Summarized Financial Information (Unaudited) of Milestone China (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Current liabilities | $ 17,910,452 | $ 17,696,393 |
Stockholders' deficit | (4,435,281) | (2,504,900) |
Total liabilities and stockholders’ deficit | 13,475,171 | 15,191,493 |
Net sales | 3,401,025 | 1,710,473 |
Cost of goods sold | 1,724,882 | 789,957 |
Gross profit | 1,676,143 | 920,516 |
Other expenses | (3,996,663) | (1,371,085) |
Net loss | (2,320,520) | (450,569) |
Milestone China [Member] | ||
Current assets | 8,392,858 | 10,587,648 |
Non-current assets | 5,082,313 | 4,603,845 |
Total assets: | $ 13,475,171 | $ 15,191,493 |
Note G - Furniture, Fixtures _3
Note G - Furniture, Fixtures and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Total | $ 47,495 | $ 66,604 |
Note G - Furniture, Fixtures _4
Note G - Furniture, Fixtures and Equipment - Summary of Furniture, Fixtures and Equipment (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Furniture, fixtures and equipment, net | $ 44,976 | $ 82,557 |
Leasehold Improvements [Member] | ||
Furniture, fixtures and equipment | 24,734 | 24,734 |
Office Furniture and Equipment [Member] | ||
Furniture, fixtures and equipment | 134,947 | 134,947 |
Tools, Dies and Molds [Member] | ||
Furniture, fixtures and equipment | 7,200 | 7,200 |
Trade Show Displays [Member] | ||
Furniture, fixtures and equipment | 151,462 | 143,357 |
Computer and Software [Member] | ||
Furniture, fixtures and equipment | 280,577 | 278,766 |
Tooling Safety Wand [Member] | ||
Furniture, fixtures and equipment | 125,022 | 125,022 |
Tooling Equipment - STA and Wand [Member] | ||
Furniture, fixtures and equipment | 11,100 | 11,100 |
EPI and IA Instruments [Member] | ||
Furniture, fixtures and equipment | 82,363 | 82,363 |
STA Trials Instruments [Member] | ||
Furniture, fixtures and equipment | 63,752 | 63,752 |
Furniture and Fixtures [Member] | ||
Furniture, fixtures and equipment | 881,157 | 871,241 |
Less accumulated depreciation | (836,181) | (788,684) |
Furniture, fixtures and equipment, net | $ 44,976 | $ 82,557 |
Note H - Patents (Details Textu
Note H - Patents (Details Textual) - USD ($) | Jul. 13, 2017 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Amortization of Intangible Assets, Total | $ 53,013 | $ 814,681 | ||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 53,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 53,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 53,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 47,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 33,000 | |||
Impairment of Intangible Assets, Finite-lived | 1,539,794 | |||
Patents [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||
Amortization of Intangible Assets, Total | $ 53,013 | $ 814,681 | ||
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 |
Note H - Patents - Summary of P
Note H - Patents - Summary of Patents (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Patents, cost | $ 1,377,863 | $ 4,017,510 |
Patents, impairment | 1,539,794 | |
Patents, accumulated amortization | (995,603) | 2,042,443 |
Patents, net | 382,260 | 435,273 |
Patents, cost | 1,377,863 | 4,017,510 |
Patents, impairment | (1,539,794) | |
Patents, accumulated amortization | 995,603 | (2,042,443) |
Patents, net | 382,260 | 435,273 |
Foundation Intellectual Property Patents [Member] | ||
Patents, cost | 1,377,863 | 1,377,863 |
Patents, impairment | ||
Patents, accumulated amortization | (995,603) | 942,590 |
Patents, net | 382,260 | 435,273 |
Patents, cost | 1,377,863 | 1,377,863 |
Patents, impairment | ||
Patents, accumulated amortization | 995,603 | (942,590) |
Patents, net | $ 382,260 | 435,273 |
Epidural-Apad Patents [Member] | ||
Patents, cost | 2,639,647 | |
Patents, impairment | (1,539,794) | |
Patents, accumulated amortization | (1,099,853) | |
Patents, net | ||
Patents, cost | 2,639,647 | |
Patents, impairment | 1,539,794 | |
Patents, accumulated amortization | 1,099,853 | |
Patents, net |
Note I - Stockholders' Equity_2
Note I - Stockholders' Equity (Details Textual) - USD ($) | Dec. 17, 2019 | May 14, 2019 | Mar. 31, 2019 | Feb. 28, 2019 | May 31, 2014 | Dec. 31, 2019 | Dec. 17, 2019 | Dec. 31, 2018 | Nov. 30, 2019 | Dec. 31, 2017 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | $ 2.55 | ||||||||
Proceeds from Issuance of Private Placement | $ 250,000 | $ 10,000,000 | $ 250,000 | |||||||
Proceeds from Issuance of Common Stock | $ 1,974,547 | |||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance | 2,375,760 | 2,470,566 | ||||||||
Reclassification of Shares to be Issued, Amount | $ 1,400,000 | $ 1,300,000 | ||||||||
Class of Warrant or Right, Exercised During Period | 675,000 | |||||||||
Stock Issued During Period, Shares, Shares to be Issued | 1,300,000 | |||||||||
Gain (Loss) from Warrants Exercised | $ (500,000) | |||||||||
Gain (Loss) on Issuance of Shares to be Issued | (500,000) | |||||||||
Adjustments to Additional Paid in Capital, Warrants Exercised | 650,000 | |||||||||
Adjustments to Additional Paid in Capital, Shares to be Issued | $ 1,070,000 | |||||||||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | 75,000,000 | 75,000,000 | ||||||
Shares To Be Issued, Marked To Market, Shares | 2,100,000 | |||||||||
Market to Market, Gain (Loss) | $ (500,000) | $ (2,600,000) | ||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Option | 380,000 | |||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Equity | 2,640,000 | $ 4,115,778 | $ 2,700,000 | |||||||
Adjustments to Additional Paid in Capital, Warrants Exercised and Shares to be Issued | $ 4,100,000 | |||||||||
Reclassification of Shares to be Issued, Shares | 3,400,000 | |||||||||
Share Price | $ 0.42 | $ 0.84 | $ 0.42 | |||||||
Stock Issued During Period Shares, Warrants Exercised | 675,000 | |||||||||
Reclassification to Additional Paid in Capital | $ 1,070,000 | $ 655,000 | ||||||||
Common Stock, Shares, To be Issued | 2,100,000 | 2,100,000 | ||||||||
Gain (Loss) on Liability Classified Shares to Be Issued | $ (1.80) | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reclassified in Period | 600,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reclassified in Period, Value | $ 422,000 | |||||||||
Warrant [Member] | ||||||||||
Derivative, Gain (Loss) on Derivative, Net, Total | (500,000) | |||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ||||||||||
Share based Compensation Arrangement By Share based Payment Award, Options Reclassified In Period, Marked To Market | 600,000 | |||||||||
Market to Market, Gain (Loss) | 40,000 | $ 40,000 | ||||||||
Reclassification To Derivative Liability for Share Based Compensation | $ 422,000 | |||||||||
Share Price | $ 1.28 | |||||||||
Shares To Be Issued [Member] | ||||||||||
Reclassification of Shares to be Issued, Amount | $ 1,405,000 | |||||||||
Market to Market, Gain (Loss) | $ (1,800,000) | |||||||||
Chief Executive Officer, Chief Financial Officer and Employees [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance | 2,226,473 | 1,908,814 | ||||||||
Non-Employees [Member] | ||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 149,287 | 561,752 | ||||||||
Preferred Stock Converted to Common Stock [Member] | ||||||||||
Conversion of Stock, Conversion Price | $ 1.17 | |||||||||
Conversion of Stock, Shares Issued | 5,982,906 | |||||||||
Warrants, Public Offering [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,428,750 | |||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||||||||
Underwrite Warrants [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 141,850 | 141,850 | ||||||||
Warrants, Private Offering [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 178,571 | |||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||||||||
Warrants Issued in 2016 Capital Raise [Member] | ||||||||||
Class of Warrant or Right, Reclassified During Period | 1,600,000 | |||||||||
Class of Warrant or Right, Value, Reclassified During Period | $ 0 | |||||||||
Class of Warrant or Right, Marked to Market | 1,600,000 | |||||||||
Market to Market, Gain (Loss) | $ (860,000) | |||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 1,095,000 | |||||||||
Reclassification To Derivatives Liabilities for Warrants | $ 0 | |||||||||
Reclassification of Shares to be Issued, Shares | 3,400,000 | |||||||||
Warrants Issued in 2019 Capital Raise [Member] | ||||||||||
Class of Warrant or Right, Reclassified During Period | 1,700,000 | |||||||||
Class of Warrant or Right, Value, Reclassified During Period | $ 376,000 | |||||||||
Class of Warrant or Right, Marked to Market | 1,100,000 | |||||||||
Market to Market, Gain (Loss) | $ 0 | |||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 0 | |||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Option | 380,000 | |||||||||
Reclassification To Derivatives Liabilities for Warrants | 37,600 | |||||||||
Warrants Previously Classified as Derivative Liability [Member] | ||||||||||
Class of Warrant or Right, Exercised During Period | 665,000 | |||||||||
The 2019 Warrants [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,084,171 | 1,749,171 | ||||||||
Market to Market, Gain (Loss) | (860,000) | |||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 1,095,000 | |||||||||
The 2016 Warrants [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,592,775 | 1,592,775 | ||||||||
Market to Market, Gain (Loss) | $ 0 | |||||||||
Adjustments to Additional Paid in Capital, Reclassification of Derivative Liability to Warrants | $ 0 | |||||||||
Public Offering [Member] | ||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,000,000 | |||||||||
Stock Issued During Period, Shares, New Issues | 5,715,000 | |||||||||
Proceeds from Stock Options Exercised | $ 198,000 | $ 198,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 567,400 | 567,400 | ||||||||
Private Placement [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues | 714,286 | 2,000,000 | ||||||||
Proceeds from Issuance of Common Stock | $ 3,000,000 | |||||||||
Shares Issued, Price Per Share | $ 1.50 | |||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 7,000,000 | |||||||||
Private Placement [Member] | Series A Convertible Preferred Stock [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues | 7,000 | |||||||||
Shares Issued, Price Per Share | $ 1,000 | |||||||||
Preferred Stock, Redemption Price Per Share | 2.545 | |||||||||
Private Placement [Member] | Series A Convertible Preferred Stock [Member] | Conversion Price if Common Stock Not Trade at 3.15 [Member] | ||||||||||
Preferred Stock, Redemption Price Per Share | $ 1.50 |
Note I - Stockholders' Equity -
Note I - Stockholders' Equity - Warrants (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding, number of shares (in shares) | 1,592,775 | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 2.55 | |||
Outstanding, weighted average remaining life (Year) | 4 years 36 days | 76 days | ||
Outstanding, intrinsic value | $ 956,012 | |||
Issued, number of shares (in shares) | 1,749,171 | |||
Issued, weighted average exercise price (in dollars per share) | $ 0.50 | |||
Issued, weighted average remaining life (Year) | 4 years 36 days | |||
Issued, intrinsic value | $ 1,556,762 | |||
Exercised, number of shares (in shares) | (675,000) | |||
Exercised, weighted average exercise price (in dollars per share) | $ 0.50 | |||
Expired or cancelled, number of shares (in shares) | (1,592,775) | |||
Expired or cancelled, weighted average exercise price (in dollars per share) | $ 2.55 | |||
Outstanding , number of shares (in shares) | 1,074,171 | 1,592,775 | ||
Outstanding , weighted average exercise price (in dollars per share) | $ 0.50 | $ 2.55 | ||
Exercisable at December 31, 2019 (in shares) | 1,074,171 | 1,592,775 | 1,074,171 | 1,592,775 |
Exercisable at December 31, 2019 (in dollars per share) | $ 0.50 | $ 2.55 | $ 0.50 | $ 2.55 |
Note I - Stockholders' Equity_3
Note I - Stockholders' Equity - Summary of Shares to be Issued (Details) | 12 Months Ended |
Dec. 31, 2019shares | |
Shares-to-be-issued, outstanding December 31, 2018 (in shares) | 2,470,566 |
Granted in current year (in shares) | 2,103,793 |
Issued in current year (in shares) | (2,198,599) |
Shares-to-be-issued outstanding, December 31, 2019 (in shares) | 2,375,760 |
Note I - Stockholders' Equity_4
Note I - Stockholders' Equity - Assumptions Used to Value Warrants at Grant Date (Details) | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Dec. 31, 2019$ / sharesshares | Nov. 30, 2019$ / sharesshares | Dec. 31, 2018shares | Dec. 17, 2019$ / shares | |
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 0.84 | $ 0.42 | ||
Share-based Payment Arrangement, Option [Member] | ||||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.28 | |||
Volatility, employee stock options, minimum | 91.80% | |||
Volatility, employee stock options, maximum | 102.00% | 102.30% | ||
Dividend yield, employee stock options | 0.00% | 0.00% | ||
Risk-free interest rate, employee stock options, minimum | 1.53% | 1.68% | ||
Risk-free interest rate, employee stock options, maximum | 1.63% | 1.53% | ||
Weighted average fair value of options granted, employee stock options (in dollars per share) | $ 0.64 | $ 0.72 | ||
Number of options granted (in shares) | shares | 592,358 | 592,358 | ||
Minimum [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.07 | |||
Expected Term, employee stock options (Year) | 1 year | 1 year 36 days | ||
Volatility, employee stock options, minimum | 92.00% | |||
Exercise Price, employee stock options (in dollars per share) | $ 1.04 | $ 1.04 | ||
Maximum [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.60 | |||
Expected Term, employee stock options (Year) | 2 years 36 days | 2 years 80 days | ||
Exercise Price, employee stock options (in dollars per share) | $ 2.09 | $ 2.09 | ||
The 2016 Warrants [Member] | ||||
Number of shares underlying warrants exercised (in shares) | shares | 1,592,775 | 1,592,775 | ||
The 2019 Warrants [Member] | ||||
Weighted average fair value of securities granted, warrants (in dollars per share) | $ 0.22 | |||
Number of shares underlying warrants exercised (in shares) | shares | 1,084,171 | 1,749,171 | ||
Measurement Input, Share Price [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.36 | |||
Measurement Input, Share Price [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 0.83 | |||
Measurement Input, Share Price [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.33 | |||
Measurement Input, Expected Term [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.2 | |||
Measurement Input, Expected Term [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 0.5 | |||
Measurement Input, Expected Term [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 4.9 | |||
Measurement Input, Price Volatility [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.86 | |||
Measurement Input, Price Volatility [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 1 | |||
Measurement Input, Price Volatility [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.83 | |||
Measurement Input, Expected Dividend Rate [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0 | |||
Measurement Input, Exercise Price [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 2.55 | |||
Measurement Input, Exercise Price [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.5 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.0188 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 0.0209 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.023 |
Note I - Stockholders' Equity_5
Note I - Stockholders' Equity - Assumptions Used to Value Liability Classified Warrants Exercised (Details) - The 2019 Warrants [Member] | 12 Months Ended | |
Dec. 31, 2019$ / sharesshares | Nov. 30, 2019shares | |
Number of shares underlying warrants exercised (in shares) | 1,084,171 | 1,749,171 |
Warrants Liabilities Exercised [Member] | ||
Weighted average fair value of warrants exercised (in dollars per share) | $ / shares | $ 0.98 | |
Number of shares underlying warrants exercised (in shares) | 665,000 | |
Measurement Input, Share Price [Member] | ||
Warrants, measurement input | 0.33 | |
Measurement Input, Share Price [Member] | Warrants Liabilities Exercised [Member] | Minimum [Member] | ||
Warrants, measurement input | 0.83 | |
Measurement Input, Share Price [Member] | Warrants Liabilities Exercised [Member] | Maximum [Member] | ||
Warrants, measurement input | 1.42 | |
Measurement Input, Expected Term [Member] | ||
Warrants, measurement input | 4.9 | |
Measurement Input, Expected Term [Member] | Warrants Liabilities Exercised [Member] | Minimum [Member] | ||
Warrants, measurement input | 4.2 | |
Measurement Input, Expected Term [Member] | Warrants Liabilities Exercised [Member] | Maximum [Member] | ||
Warrants, measurement input | 4.3 | |
Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input | 0.83 | |
Measurement Input, Price Volatility [Member] | Warrants Liabilities Exercised [Member] | Minimum [Member] | ||
Warrants, measurement input | 0.86 | |
Measurement Input, Price Volatility [Member] | Warrants Liabilities Exercised [Member] | Maximum [Member] | ||
Warrants, measurement input | 87 | |
Measurement Input, Expected Dividend Rate [Member] | ||
Warrants, measurement input | 0 | |
Measurement Input, Expected Dividend Rate [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0 | |
Measurement Input, Exercise Price [Member] | ||
Warrants, measurement input | 0.5 | |
Measurement Input, Exercise Price [Member] | Warrants Liabilities Exercised [Member] | ||
Warrants, measurement input | 0.5 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input | 0.023 | |
Measurement Input, Risk Free Interest Rate [Member] | Warrants Liabilities Exercised [Member] | Minimum [Member] | ||
Warrants, measurement input | 1.38 | |
Measurement Input, Risk Free Interest Rate [Member] | Warrants Liabilities Exercised [Member] | Maximum [Member] | ||
Warrants, measurement input | 1.73 |
Note I - Stockholders' Equity_6
Note I - Stockholders' Equity - Assumption Used to Value Liability Classified Warrants at Grant Date (Details) | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Dec. 31, 2019$ / sharesshares | Nov. 30, 2019$ / sharesshares | Dec. 31, 2018shares | Dec. 17, 2019$ / shares | |
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 0.84 | $ 0.42 | ||
Share-based Payment Arrangement, Option [Member] | ||||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.28 | |||
Volatility, employee stock options, minimum | 91.80% | |||
Volatility, employee stock options, maximum | 102.00% | 102.30% | ||
Dividend yield, employee stock options | 0.00% | 0.00% | ||
Risk-free interest rate, employee stock options, minimum | 1.53% | 1.68% | ||
Risk-free interest rate, employee stock options, maximum | 1.63% | 1.53% | ||
Weighted average fair value of options granted, employee stock options (in dollars per share) | $ 0.64 | $ 0.72 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 592,358 | 592,358 | ||
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.07 | |||
Expected Term, employee stock options (Year) | 1 year | 1 year 36 days | ||
Volatility, employee stock options, minimum | 92.00% | |||
Exercise Price, employee stock options (in dollars per share) | $ 1.04 | $ 1.04 | ||
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Fair Value of Common Stock, employee stock options (in dollars per share) | $ 1.60 | |||
Expected Term, employee stock options (Year) | 2 years 36 days | 2 years 80 days | ||
Exercise Price, employee stock options (in dollars per share) | $ 2.09 | $ 2.09 | ||
The 2016 Warrants [Member] | ||||
Number of shares underlying warrants granted (in shares) | shares | 1,592,775 | 1,592,775 | ||
The 2019 Warrants [Member] | ||||
Weighted average fair value of securities granted, warrants (in dollars per share) | $ 0.22 | |||
Number of shares underlying warrants granted (in shares) | shares | 1,084,171 | 1,749,171 | ||
Measurement Input, Share Price [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.36 | |||
Measurement Input, Share Price [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 0.83 | |||
Measurement Input, Share Price [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.33 | |||
Measurement Input, Share Price [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 1.28 | |||
Measurement Input, Share Price [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 1.28 | |||
Measurement Input, Expected Term [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.2 | |||
Measurement Input, Expected Term [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 0.5 | |||
Measurement Input, Expected Term [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 4.9 | |||
Measurement Input, Expected Term [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 0.1 | |||
Measurement Input, Expected Term [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 4.1 | |||
Measurement Input, Price Volatility [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.86 | |||
Measurement Input, Price Volatility [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 1 | |||
Measurement Input, Price Volatility [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.83 | |||
Measurement Input, Price Volatility [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 0.38 | |||
Measurement Input, Price Volatility [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.88 | |||
Measurement Input, Expected Dividend Rate [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0 | |||
Measurement Input, Exercise Price [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 2.55 | |||
Measurement Input, Exercise Price [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.5 | |||
Measurement Input, Exercise Price [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 2.55 | |||
Measurement Input, Exercise Price [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.5 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2016 Warrants [Member] | Minimum [Member] | ||||
Warrants, measurement input | 0.0188 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2016 Warrants [Member] | Maximum [Member] | ||||
Warrants, measurement input | 0.0209 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.023 | |||
Measurement Input, Risk Free Interest Rate [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Warrants, measurement input | 0.0156 | |||
Measurement Input, Risk Free Interest Rate [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Warrants, measurement input | 0.0171 | |||
Measurement Input, Weighted Average of Shares Granted, Fair Value [Member] | Warrant Liabilities [Member] | The 2016 Warrants [Member] | ||||
Weighted average fair value of securities granted, warrants (in dollars per share) | ||||
Measurement Input, Weighted Average of Shares Granted, Fair Value [Member] | Warrant Liabilities [Member] | The 2019 Warrants [Member] | ||||
Weighted average fair value of securities granted, warrants (in dollars per share) | $ 1.01 |
Note J - Stock Option Plans (De
Note J - Stock Option Plans (Details Textual) - USD ($) | 1 Months Ended | 11 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Jun. 30, 2011 | Jul. 31, 2004 | Nov. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2017 | |
Income from Non-employee Options | $ 2,439 | $ 9,384 | ||||||
Share-based Payment Arrangement, Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 592,358 | 592,358 | ||||||
Share-based Payment Arrangement, Amount Capitalized | 181,448 | $ 398,301 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 82,526 | $ 82,526 | $ 263,974 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year | 1 year 273 days | ||||||
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 | |||||||
Stock Option Plan 2011 [Member] | ||||||||
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 | 4,000,000 |
Note J - Stock Option Plans - S
Note J - Stock Option Plans - Summary of Option Activity for Employees and Non-employees (Details) - USD ($) | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Nov. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Payment Arrangement, Option [Member] | |||||
Number of options (in shares) | 1,670,221 | 1,670,221 | 1,985,335 | ||
Weighted average exercise price, outstanding (in dollars per share) | $ 1.71 | $ 1.71 | $ 1.74 | ||
Weighted average remaining contractual life, outstanding (Year) | 2 years | 2 years 146 days | 3 years 14 days | ||
Aggregate intrinsic value, outstanding | $ 114,570 | $ 114,570 | $ 25,160 | ||
Number of options granted (in shares) | 592,358 | 592,358 | |||
Weighted average exercise price, granted (in dollars per share) | |||||
Weighted average remaining contractual life, granted (Year) | |||||
Number of options exercised (in shares) | |||||
Weighted average exercise price, exercised (in dollars per share) | |||||
Number of options forfeited and expired (in shares) | (457,779) | (315,114) | |||
Number of options exercisable (in shares) | 1,117,834 | 1,117,834 | 1,317,632 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.65 | $ 1.65 | $ 1.79 | ||
Weighted average remaining contractual life, exercisable (Year) | 1 year 328 days | 2 years 54 days | |||
Aggregate intrinsic value, exercisable | $ 88,982 | $ 88,982 | |||
Forfeited or expired (in dollars per share) | $ 1.96 | ||||
Number of options exercised (in shares) | |||||
Number of options (in shares) | 1,212,442 | 1,212,442 | 1,670,221 | 1,985,335 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.61 | $ 1.61 | $ 1.71 | $ 1.74 | |
Non-employee Options [Member] | |||||
Number of options (in shares) | 33,332 | 33,332 | 224,999 | ||
Weighted average exercise price, outstanding (in dollars per share) | $ 1.87 | $ 1.87 | $ 2.53 | ||
Weighted average remaining contractual life, outstanding (Year) | 2 years 343 days | 2 years 343 days | 4 years 116 days | ||
Aggregate intrinsic value, outstanding | $ 19,333 | $ 19,333 | |||
Number of options granted (in shares) | 16,666 | 8,333 | |||
Weighted average exercise price, granted (in dollars per share) | $ 0.55 | $ 0.75 | |||
Weighted average remaining contractual life, granted (Year) | 4 years 156 days | 4 years 120 days | |||
Number of options exercised (in shares) | |||||
Weighted average exercise price, exercised (in dollars per share) | |||||
Number of options forfeited and expired (in shares) | (200,000) | ||||
Number of options exercisable (in shares) | 36,109 | 36,109 | 27,777 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.76 | $ 1.76 | $ 2.10 | ||
Weighted average remaining contractual life, exercisable (Year) | 2 years 160 days | 2 years 240 days | |||
Aggregate intrinsic value, exercisable | $ 8,222 | $ 8,222 | |||
Forfeited or expired (in dollars per share) | $ 2.55 | ||||
Number of options exercised (in shares) | |||||
Aggregate intrinsic value, granted | $ 13,999 | ||||
Number of options (in shares) | 49,998 | 49,998 | 33,332 | 224,999 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.43 | $ 1.43 | $ 1.87 | $ 2.53 |
Note K - Employment Contract _2
Note K - Employment Contract and Consulting Agreements (Details Textual) - USD ($) | Dec. 01, 2016 | Jul. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 |
Chief Executive Officer [Member] | ||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 280,000 | $ 493,000 | $ 386,000 | |
Chief Executive Officer, Employment Agreement Period | 1 year | |||
Chief Executive Officer, Automatic Extended Employment Agreement Period | 1 year | |||
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 |
Note L - Income Taxes (Details
Note L - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Loss Carryforwards, Valuation Allowance, Total | $ 0 | $ 0 |
Operating Loss Carryforwards, Total | $ 39,400,000 | 30,800,000 |
Percentage of Valuation Allowance | 100.00% | |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | $ 18,000 | 24,000 |
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 |
Open Tax Year | 2016 2017 2018 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 59,000,000 | $ 65,300,000 |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 56,700,000 |
Note L - Income Taxes - Deferre
Note L - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for doubtful accounts | $ 2,000 | $ 3,000 |
Warranty reserve | 5,000 | 29,000 |
Impaired Assets | 435,000 | |
Inventory Reserve | 178,000 | 551,000 |
Deferred officers' compensation | 820,000 | 715,000 |
Depreciation and Amortization | (103,000) | 345,000 |
Net operating loss carryforward | 16,504,000 | 16,500,000 |
Tax Credit | 384,000 | |
Other | (28,000) | |
Subtotal | 17,762,000 | 18,578,000 |
Valuation allowance | (17,762,000) | (18,578,000) |
Non-current deferred tax asset |
Note L - Income Taxes - Reconci
Note L - Income Taxes - Reconciliation of the Statutory Tax Rates (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statutory rate | 21.00% | 21.00% |
State income tax-all states | 4.00% | 7.00% |
Change in fair value of derivative | (11.00%) | 0.00% |
NOL Expiration | (22.00%) | 0.00% |
Other | (3.00%) | 0.00% |
Subtotal | (11.00%) | 28.00% |
Valuation allowance | 11.00% | (28.00%) |
Effective tax rate | 0.00% | 0.00% |
Note M - Segment and Geograph_3
Note M - Segment and Geographic Data (Details Textual) | 12 Months Ended |
Dec. 31, 2019 | |
Number of Reportable Segments | 2 |
Note M - Segment and Geograph_4
Note M - Segment and Geographic Data - Summary by Reporting and Operating Segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Product sales, net | $ 8,374,501 | $ 9,622,076 |
Operating Income (Loss) | (3,998,993) | (7,999,335) |
Depreciation and Amortization | 100,508 | 881,285 |
Income (loss) before taxes and equity in earnings of affiliates | (7,643,438) | (7,999,120) |
Dental | 6,556,289 | 6,400,968 |
Total loss before taxes and equity in earnings of affiliate | 6,556,289 | 6,400,968 |
Corporate, Non-Segment [Member] | ||
Operating Income (Loss) | (4,424,606) | (6,761,282) |
Depreciation and Amortization | 76,323 | 840,319 |
Income (loss) before taxes and equity in earnings of affiliates | (8,064,576) | (6,658,152) |
Dental | 957,238 | 902,816 |
Total loss before taxes and equity in earnings of affiliate | 957,238 | 902,816 |
Dental Segment [Member] | ||
Product sales, net | 8,336,901 | 9,502,276 |
Dental Segment [Member] | Operating Segments [Member] | ||
Product sales, net | 8,336,901 | 9,502,276 |
Operating Income (Loss) | 2,775,716 | 1,373,178 |
Depreciation and Amortization | 15,793 | 16,474 |
Income (loss) before taxes and equity in earnings of affiliates | 2,774,332 | 1,363,662 |
Dental | 5,008,324 | 5,169,944 |
Total loss before taxes and equity in earnings of affiliate | 5,008,324 | 5,169,944 |
Medical Segment [Member] | ||
Product sales, net | 37,600 | 119,800 |
Medical Segment [Member] | Operating Segments [Member] | ||
Product sales, net | 37,600 | 119,800 |
Operating Income (Loss) | (2,350,103) | (2,611,231) |
Depreciation and Amortization | 8,392 | 24,492 |
Income (loss) before taxes and equity in earnings of affiliates | (2,353,194) | (2,704,630) |
Dental | 590,727 | 328,208 |
Total loss before taxes and equity in earnings of affiliate | $ 590,727 | $ 328,208 |
Note M - Segment and Geograph_5
Note M - Segment and Geographic Data - Summary of Operations by Geographic Area (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Product sales, net | $ 8,374,501 | $ 9,622,076 |
Dental Segment [Member] | ||
Product sales, net | 8,336,901 | 9,502,276 |
Medical Segment [Member] | ||
Product sales, net | 37,600 | 119,800 |
Domestic [Member] | ||
Product sales, net | 4,526,604 | 4,831,206 |
Domestic [Member] | Dental Segment [Member] | ||
Product sales, net | 4,512,904 | 4,798,706 |
Domestic [Member] | Medical Segment [Member] | ||
Product sales, net | 13,700 | 32,500 |
Rest of World [Member] | ||
Product sales, net | 3,689,247 | 3,890,870 |
Rest of World [Member] | Dental Segment [Member] | ||
Product sales, net | 3,665,347 | 3,803,570 |
Rest of World [Member] | Medical Segment [Member] | ||
Product sales, net | 23,900 | 87,300 |
CHINA | ||
Product sales, net | 158,650 | 900,000 |
CHINA | Dental Segment [Member] | ||
Product sales, net | 158,650 | 900,000 |
CHINA | Medical Segment [Member] | ||
Product sales, net |
Note N - Concentrations (Detail
Note N - Concentrations (Details Textual) | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10,000 | $ 10,000 |
Milestone China [Member] | ||
Accounts Receivable, before Allowance for Credit Loss | 1,917,990 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 1,817,990 | |
Accounts Receivable, Credit Loss Expense (Reversal) | $ 1,250,928 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Concentration Risk, Percentage | 53.00% | |
Number of Customers | 1 | 2 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 53.00% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 43.00% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | ||
Concentration Risk, Percentage | 10.00% | |
Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 77.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 82.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 49.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | ||
Concentration Risk, Percentage | 33.00% |
Note O - Related Party Transa_2
Note O - Related Party Transactions (Details Textual) - USD ($) | Dec. 01, 2016 | Jul. 31, 2019 | Feb. 28, 2019 | Jan. 31, 2017 | Aug. 31, 2016 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2014 |
Stock Issued During Period, Value, Issued for Services | $ 67,144 | ||||||||
Chief Executive Officer [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 280,000 | 493,000 | $ 386,000 | ||||||
Chief Financial Officer [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | 56,800 | 28,400 | |||||||
Director [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | 380,000 | 216,000 | |||||||
Director of Clinical Affairs [Member] | |||||||||
Royalty Expense | 403,000 | 465,000 | |||||||
Professional Fees | 156,000 | 186,000 | |||||||
Accounts Payable, Related Parties | 390,000 | 364,000 | |||||||
Milestone China [Member] | |||||||||
Revenue from Related Parties | 900,000 | ||||||||
Capitalized Contract Cost, Net, Total | 104,000 | 50,000 | |||||||
Contract with Customer, Asset, Allowance for Credit Loss, Recovery | $ 151,000 | $ 151,000 | |||||||
Equity Method Investment, Ownership Percentage | 40.00% | ||||||||
United Systems [Member] | |||||||||
Capitalized Contract Cost, Net, Total | 686,365 | ||||||||
Wand Dental Inc [Member] | |||||||||
Deferred Revenue, Current, Total | 342,540 | ||||||||
Manufacturing Agreement for Handpieces [Member] | |||||||||
Related Party Transaction, Purchases from Related Party | 1,200,000 | 1,200,000 | |||||||
Due to Related Parties, Total | $ 943,000 | 1,300,000 | |||||||
Consulting Services [Member] | |||||||||
Consulting Services Agreement, Term | 3 years | ||||||||
Related Party Transaction, Expenses from Transactions with Related Party | 100,000 | ||||||||
Consulting Services [Member] | United Systems [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services | 285,714 | ||||||||
Shares Issued, Price Per Share | $ 0.35 | ||||||||
Stock Issued During Period, Value, Issued for Services | $ 100,000 | ||||||||
Distributor Agreement to Milestone China [Member] | United Systems [Member] | |||||||||
Revenue from Related Parties | 750,000 | ||||||||
Consultant [Member] | Innovest S.p.A. [Member] | |||||||||
Consulting Services Agreement, Term | 1 year | ||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 80,000 |
Note P - Commitments (Details T
Note P - Commitments (Details Textual) | Jan. 01, 2005 | Aug. 31, 2019USD ($) | Jul. 31, 2019 | Jun. 30, 2015USD ($)ft² | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Advances on Inventory Purchases | $ 710,662 | $ 648,783 | ||||
Operating Leases, Monthly Rent Expense | $ 12,522 | |||||
Additional Percentage of Director Compensation on Sales Value Using Certain Specify Technology | 2.50% | |||||
Additional Percentage of Director Compensation Sales Value Using Other Kind of Technology | 5.00% | |||||
Director of Clinical Affairs [Member] | ||||||
Royalty Expense | 403,000 | 465,000 | ||||
Professional Fees | 156,000 | 186,000 | ||||
Accounts Payable, Related Parties | 390,000 | 364,000 | ||||
Director Clinical Affair [Member] | ||||||
Professional Fees | 156,000 | 186,000 | ||||
Accounts Payable, Related Parties | 390,000 | $ 364,000 | ||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | ||||||
Area of Real Estate Property | ft² | 6,851 | |||||
Area of Rentable Space | ft² | 774 | |||||
Lessee, Operating Lease, Term of Contract | 7 years | |||||
Lessee, Operating Lease, Electric Charge Per Square Foot | $ 2 | |||||
Lessee, Operating Lease, Electric Payments, Annually | 11,130 | |||||
Lessee, Operating Lease, Electric Payments, Monthly | 927.50 | |||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | Minimum [Member] | ||||||
Operating Leases, Monthly Rent Expense | 9,275 | |||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | Maximum [Member] | ||||||
Operating Leases, Monthly Rent Expense | $ 10,898 | |||||
Purchase Commitment for Devices [Member] | ||||||
Purchase Commitment Number Of Units | 1,400 | |||||
Purchase Commitment, Remaining Minimum Amount Committed | 1,067,073 | |||||
Advances on Inventory Purchases | $ 437,512 | |||||
Purchase Commitment for Devices Begining in 2020 [Member] | ||||||
Purchase Commitment Number Of Units | 100 | 100 | ||||
Purchase Commitment, Remaining Minimum Amount Committed | $ 299,000 | |||||
Advances on Inventory Purchases | 149,500 | |||||
Purchase Commitment For Devices Beginning In 2021 [Member] | ||||||
Advances on Inventory Purchases | $ 123,649 |
Note P - Commitments - Lease Ex
Note P - Commitments - Lease Expense (Details) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating lease expense | $ 158,218 |
Total lease expense | 158,218 |
Operating cash flows from operating leases | $ 158,218 |
Weighted-average remaining lease term - operating leases (Year) | 73 days |
Weighted-average discount rate - operating leases | 9.20% |
Note P - Commitments - Maturiti
Note P - Commitments - Maturities of Lease Liabilities (Details) - USD ($) | Dec. 31, 2019 | Jan. 01, 2019 |
2020 | $ 16,030 | |
2021 | ||
2022 | ||
2023 | ||
2024 | ||
Thereafter | ||
Total lease payments | 16,030 | |
Less: interest | (53) | |
Present value of lease liabilities | $ 15,977 | $ 166,292 |
Note R - Subsequent Events (Det
Note R - Subsequent Events (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 30, 2020 | Dec. 31, 2019 | Feb. 28, 2019 | Dec. 31, 2018 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | $ 2.55 | ||
Warrants, Public Offering [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,428,750 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||
Subsequent Event [Member] | Warrants, Public Offering [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 460,725 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | |||
Proceeds from Issuance or Sale of Equity, Total | $ 230,363 |