Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 12, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000855683 | |
Entity Registrant Name | MILESTONE SCIENTIFIC INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-14053 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 13-3545623 | |
Entity Address, Address Line One | 425 Eagle Rock Avenue Suite 403 | |
Entity Address, City or Town | Roseland | |
Entity Address, State or Province | NJ | |
Entity Address, Postal Zip Code | 07068 | |
City Area Code | 973 | |
Local Phone Number | 535-2717 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | MLSS | |
Security Exchange Name | NYSE | |
Entity Common Stock, Shares Outstanding | 67,845,930 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 14,490,745 | $ 14,223,917 |
Accounts receivable, net | 968,107 | 1,080,656 |
Prepaid expenses and other current assets | 514,417 | 415,915 |
Inventories, net | 1,676,532 | 2,420,179 |
Advances on contracts | 1,509,530 | 414,202 |
Total current assets | 19,159,331 | 18,554,869 |
Furniture, fixtures and equipment, net | 27,139 | 30,729 |
Intangibles, net | 295,189 | 329,249 |
Right of use assets | 571,678 | 632,453 |
Other assets | 24,150 | 24,150 |
Total assets | 20,077,487 | 19,571,450 |
Current liabilities: | ||
Accounts payable | 743,879 | 482,972 |
Accounts payable, related party | 420,251 | 385,138 |
Accrued expenses and other payables | 1,335,755 | 824,454 |
Accrued expenses, related party | 535,481 | 586,734 |
Current portion of finance leases liabilities | 8,351 | 7,796 |
Current portion of operating lease right-of-use liabilities | 78,476 | 72,031 |
Deferred profit, related party | 407,050 | 242,589 |
Note payable | 0 | 276,180 |
Total current liabilities | 3,529,243 | 2,877,894 |
Finance lease liabilities | 22,273 | 28,607 |
Operating lease liabilities | 497,932 | 557,981 |
Total liabilities | 4,049,448 | 3,464,482 |
Commitments and contingencies | ||
Stockholders’ equity | ||
Common stock, par value $.001; authorized 100,000,000 shares; 67,610,864 shares issued and 67,577,531 shares outstanding as of September 30, 2021; 64,171,435 shares issued and 64,138,102 shares outstanding as of December 31, 2020; | 67,610 | 64,171 |
Additional paid in capital | 123,590,412 | 117,934,696 |
Accumulated deficit | (106,582,501) | (100,885,957) |
Treasury stock, at cost, 33,333 shares | (911,516) | (911,516) |
Total Milestone Scientific Inc. stockholders' equity | 16,164,005 | 16,201,394 |
Noncontrolling interest | (135,966) | (94,426) |
Total stockholders’ equity | 16,028,039 | 16,106,968 |
Total liabilities and stockholders’ equity | $ 20,077,487 | $ 19,571,450 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 67,610,864 | 64,171,435 |
Common stock, shares outstanding (in shares) | 67,577,531 | 64,138,102 |
Treasury stock, at cost, shares (in shares) | 33,333 | 33,333 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Product sales, net | $ 2,108,233 | $ 1,246,110 | $ 7,458,678 | $ 3,225,170 |
Cost of products sold | 747,997 | 409,621 | 2,926,794 | 1,024,947 |
Gross profit | 1,360,236 | 836,489 | 4,531,884 | 2,200,223 |
Selling, general and administrative expenses | 2,968,625 | 2,275,274 | 9,729,594 | 8,146,498 |
Research and development expenses | 356,179 | 21,438 | 588,043 | 237,089 |
Depreciation and amortization expense | 16,353 | 16,505 | 52,113 | 74,861 |
Total operating expenses | 3,341,157 | 2,313,217 | 10,369,750 | 8,458,448 |
Loss from operations | (1,980,921) | (1,476,728) | (5,837,866) | (6,258,225) |
Interest expense | (4,608) | (569) | (11,604) | (8,727) |
Gain on debt extinguishment-PPP | 0 | 0 | 276,180 | 0 |
Loss before provision for income taxes and net of equity investments | (1,985,529) | (1,477,297) | (5,573,290) | (6,266,952) |
Provision for income taxes | 0 | (24,717) | (333) | (26,217) |
Loss before equity in net earnings (losses) of equity investments | (1,985,529) | (1,502,014) | (5,573,623) | (6,293,169) |
Loss from China Joint Venture | (69,905) | 0 | (164,461) | 0 |
Net loss | (2,055,434) | (1,502,014) | (5,738,084) | (6,293,169) |
Net loss attributable to noncontrolling interests | (12,227) | (11,025) | (41,540) | (35,501) |
Net loss attributable to Milestone Scientific Inc. | $ (2,043,207) | $ (1,490,989) | $ (5,696,544) | $ (6,257,668) |
Net loss per share applicable to common stockholders— | ||||
Basic (in dollars per share) | $ (0.03) | $ (0.02) | $ (0.08) | $ (0.11) |
Diluted (in dollars per share) | $ (0.03) | $ (0.02) | $ (0.08) | $ (0.11) |
Weighted average shares outstanding and to be issued— | ||||
Basic (in shares) | 69,573,795 | 65,817,132 | 68,609,143 | 56,478,151 |
Diluted (in shares) | 69,573,795 | 65,817,132 | 68,609,143 | 56,478,151 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Consultant [Member]Common Stock [Member] | Consultant [Member]Additional Paid-in Capital [Member] | Consultant [Member] | Board of Directors [Member]Common Stock [Member] | Board of Directors [Member]Additional Paid-in Capital [Member] | Board of Directors [Member] | June 30, 2020 Public Offering [Member]Common Stock [Member] | June 30, 2020 Public Offering [Member]Additional Paid-in Capital [Member] | June 30, 2020 Public Offering [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Treasury Stock [Member] | Total |
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 | |||||||||
Stock based compensation | 30,715 | 30,715 | |||||||||||||
Common stock issued to employee for compensation expensed in prior periods (in shares) | 22,633 | ||||||||||||||
Common stock issued to employee for compensation expensed in prior periods | $ 23 | 14,989 | 15,012 | ||||||||||||
Common stock to issued for services | $ 25,000 | $ 25,000 | |||||||||||||
Common stock to be issued to employees for bonuses | 171,046 | 171,046 | |||||||||||||
Common stock issued for warrants exercised (in shares) | 460,725 | ||||||||||||||
Common stock issued for warrants exercised | $ 460 | 229,902 | 230,362 | ||||||||||||
Net loss | (1,600,215) | (12,738) | (1,612,953) | ||||||||||||
Net loss | (1,600,215) | (12,738) | (1,612,953) | ||||||||||||
Common stock issued for warrants | $ 460 | 229,902 | 230,362 | ||||||||||||
Balance (in shares) at Mar. 31, 2020 | 49,893,534 | ||||||||||||||
Balance at Mar. 31, 2020 | $ 49,893 | 96,553,976 | (95,124,512) | (80,012) | (911,516) | 487,829 | |||||||||
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 | |||||||||
Net loss | (6,293,169) | ||||||||||||||
Net loss | (6,293,169) | ||||||||||||||
Balance (in shares) at Sep. 30, 2020 | 63,605,119 | ||||||||||||||
Balance at Sep. 30, 2020 | $ 63,605 | 116,577,241 | (99,806,352) | (78,388) | (911,516) | 15,844,590 | |||||||||
Balance (in shares) at Mar. 31, 2020 | 49,893,534 | ||||||||||||||
Balance at Mar. 31, 2020 | $ 49,893 | 96,553,976 | (95,124,512) | (80,012) | (911,516) | 487,829 | |||||||||
Stock based compensation | 23,946 | 23,946 | |||||||||||||
Common stock issued to employee for compensation expensed in prior periods (in shares) | 11,450 | ||||||||||||||
Common stock issued to employee for compensation expensed in prior periods | $ 11 | 14,989 | 15,000 | ||||||||||||
Common stock to issued for services (in shares) | 278,581 | 39,233 | |||||||||||||
Common stock to issued for services | $ 279 | 381,520 | 381,799 | $ 39 | $ 53,967 | $ 54,006 | |||||||||
Common stock to be issued to employees for bonuses | 462,504 | 462,504 | |||||||||||||
Common stock issued for warrants exercised (in shares) | 620,750 | ||||||||||||||
Common stock issued for warrants exercised | $ 621 | 718,029 | 718,650 | ||||||||||||
Net loss | 0 | (3,166,464) | (11,738) | (3,178,202) | |||||||||||
Net loss | 0 | (3,166,464) | (11,738) | (3,178,202) | |||||||||||
Common stock issued for warrants | $ 621 | 718,029 | 718,650 | ||||||||||||
Common stock issued to employees for bonuses (in shares) | 202,617 | ||||||||||||||
Common stock issued to employees for bonuses | $ 203 | (203) | |||||||||||||
Common stock issued in public offering (in shares) | 6,770,000 | 5,420,000 | |||||||||||||
Common stock issued in public offering | $ 6,770 | $ 13,410,074 | $ 13,416,844 | $ 5,420 | 4,621,022 | 4,626,442 | |||||||||
Acquired controlling interest in Milestone Advanced Cosmetic Systems | (24,387) | 24,387 | |||||||||||||
Balance (in shares) at Jun. 30, 2020 | 63,236,165 | ||||||||||||||
Balance at Jun. 30, 2020 | $ 63,236 | 116,239,824 | (98,315,363) | (67,363) | (911,516) | 17,008,818 | |||||||||
Stock based compensation | 18,392 | 18,392 | |||||||||||||
Common stock issued to employee for compensation expensed in prior periods (in shares) | 7,692 | ||||||||||||||
Common stock issued to employee for compensation expensed in prior periods | $ 8 | 14,992 | 15,000 | ||||||||||||
Common stock to be issued for payment of consulting services expensed in prior periods | $ 113 | $ 227,928 | 228,041 | ||||||||||||
Common stock to issued for services (in shares) | 112,140 | 16,350 | |||||||||||||
Common stock to issued for services | $ 16 | 29,984 | 30,000 | ||||||||||||
Common stock to be issued to employees for bonuses | $ 180 | 9,422 | 9,602 | ||||||||||||
Common stock issued for warrants exercised (in shares) | 52,500 | ||||||||||||||
Common stock issued for warrants exercised | $ 52 | 36,699 | 36,751 | ||||||||||||
Net loss | (1,490,989) | (11,025) | (1,502,014) | ||||||||||||
Net loss | (1,490,989) | (11,025) | (1,502,014) | ||||||||||||
Common stock issued for warrants | $ 52 | 36,699 | 36,751 | ||||||||||||
Common stock issued to employees for bonuses (in shares) | 180,272 | ||||||||||||||
Balance (in shares) at Sep. 30, 2020 | 63,605,119 | ||||||||||||||
Balance at Sep. 30, 2020 | $ 63,605 | 116,577,241 | (99,806,352) | (78,388) | (911,516) | 15,844,590 | |||||||||
Balance (in shares) at Dec. 31, 2020 | 64,171,435 | ||||||||||||||
Balance at Dec. 31, 2020 | $ 64,171 | 117,934,696 | (100,885,957) | (94,426) | (911,516) | 16,106,968 | |||||||||
Stock based compensation | 113,507 | 113,507 | |||||||||||||
Common stock issued to employee for compensation expensed in prior periods (in shares) | 7,075 | ||||||||||||||
Common stock issued to employee for compensation expensed in prior periods | $ 7 | 7 | |||||||||||||
Common stock to be issued for payment of consulting services expensed in prior periods (in shares) | 40,010 | ||||||||||||||
Common stock to be issued for payment of consulting services expensed in prior periods | $ 40 | $ 40 | |||||||||||||
Common stock to issued for services (in shares) | 18,879 | ||||||||||||||
Common stock to issued for services | $ 18 | 18 | |||||||||||||
Common stock issued to employee for stock options exercised (in shares) | 435,558 | ||||||||||||||
Common stock issued to employee for stock options exercised | $ 436 | 689,754 | 690,190 | ||||||||||||
Common stock to be issued to employees for bonuses | 100,000 | 100,000 | |||||||||||||
Common stock issued for warrants exercised (in shares) | 1,918,925 | ||||||||||||||
Common stock issued for warrants exercised | $ 1,919 | 3,010,297 | 3,012,216 | ||||||||||||
Net loss | (972,869) | (12,988) | (985,857) | ||||||||||||
Net loss | (972,869) | (12,988) | (985,857) | ||||||||||||
Common stock issued for warrants | $ 1,919 | 3,010,297 | 3,012,216 | ||||||||||||
Balance (in shares) at Mar. 31, 2021 | 66,591,882 | ||||||||||||||
Balance at Mar. 31, 2021 | $ 66,591 | 121,848,254 | (101,858,826) | (107,414) | (911,516) | 19,037,089 | |||||||||
Balance (in shares) at Dec. 31, 2020 | 64,171,435 | ||||||||||||||
Balance at Dec. 31, 2020 | $ 64,171 | 117,934,696 | (100,885,957) | (94,426) | (911,516) | 16,106,968 | |||||||||
Net loss | (5,738,084) | ||||||||||||||
Net loss | (5,738,084) | ||||||||||||||
Balance (in shares) at Sep. 30, 2021 | 67,610,864 | ||||||||||||||
Balance at Sep. 30, 2021 | $ 67,610 | 123,590,412 | (106,582,501) | (135,966) | (911,516) | 16,028,039 | |||||||||
Balance (in shares) at Mar. 31, 2021 | 66,591,882 | ||||||||||||||
Balance at Mar. 31, 2021 | $ 66,591 | 121,848,254 | (101,858,826) | (107,414) | (911,516) | 19,037,089 | |||||||||
Stock based compensation | 193,824 | 193,824 | |||||||||||||
Common stock issued to employee for compensation expensed in prior periods (in shares) | 4,202 | ||||||||||||||
Common stock issued to employee for compensation expensed in prior periods | $ 4 | 14,996 | 15,000 | ||||||||||||
Common stock to be issued for payment of consulting services expensed in prior periods | $ 94 | 262,589 | 262,683 | ||||||||||||
Common stock to issued for services (in shares) | 277,767 | 96,018 | |||||||||||||
Common stock to issued for services | $ 280 | $ 617,887 | $ 618,167 | ||||||||||||
Common stock issued for warrants exercised (in shares) | 86,000 | ||||||||||||||
Common stock issued for warrants exercised | $ 86 | 138,114 | 138,200 | ||||||||||||
Net loss | (2,680,468) | (16,325) | (2,696,793) | ||||||||||||
Net loss | (2,680,468) | (16,325) | (2,696,793) | ||||||||||||
Common stock issued for warrants | $ 86 | 138,114 | 138,200 | ||||||||||||
Balance (in shares) at Jun. 30, 2021 | 67,055,869 | ||||||||||||||
Balance at Jun. 30, 2021 | $ 67,055 | 123,075,664 | (104,539,294) | (123,739) | (911,516) | 17,568,170 | |||||||||
Stock based compensation | 191,946 | 191,946 | |||||||||||||
Common stock issued to employee for compensation expensed in prior periods (in shares) | 6,122 | ||||||||||||||
Common stock issued to employee for compensation expensed in prior periods | $ 6 | 14,994 | 15,000 | ||||||||||||
Common stock to be issued for payment of consulting services expensed in prior periods (in shares) | 402,490 | ||||||||||||||
Common stock to be issued for payment of consulting services expensed in prior periods | $ 97 | 227,748 | 227,845 | ||||||||||||
Common stock to issued for services (in shares) | 96,694 | ||||||||||||||
Common stock issued to employee for stock options exercised (in shares) | 49,689 | ||||||||||||||
Common stock issued to employee for stock options exercised | $ 50 | 80,462 | 80,512 | ||||||||||||
Common stock to be issued to employees for bonuses | $ 402 | (402) | |||||||||||||
Net loss | (2,043,207) | (12,227) | (2,055,434) | ||||||||||||
Net loss | (2,043,207) | (12,227) | (2,055,434) | ||||||||||||
Balance (in shares) at Sep. 30, 2021 | 67,610,864 | ||||||||||||||
Balance at Sep. 30, 2021 | $ 67,610 | $ 123,590,412 | $ (106,582,501) | $ (135,966) | $ (911,516) | $ 16,028,039 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (5,738,084) | $ (6,293,169) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 23,076 | 35,103 |
Amortization of patents | 34,060 | 39,759 |
Stock compensation | 499,276 | 76,611 |
Employees paid in stock | 748,658 | 768,463 |
Expense paid in stock | 490,614 | 644,865 |
Loss on China joint venture | 164,461 | 0 |
Non-cash operating lease expense | 7,172 | 30,175 |
Gain on debt extinguishment-PPP | (276,180) | 0 |
Changes in operating assets and liabilities: | ||
Decrease in accounts receivable | 112,549 | 747,682 |
Decrease in other assets | 0 | 11,755 |
Decrease (Increase) inventories | 743,647 | (609,251) |
Increase in advances on contracts | (1,095,328) | (12,422) |
Increase in prepaid expenses and other current assets | (98,501) | (7,996) |
Increase (Decrease) in accounts payable | 260,905 | (713,331) |
Increase (decrease) in accounts payable, related party | 35,113 | (965,662) |
Increase in accrued expenses | 510,790 | 431,917 |
Decrease in accrued expenses, related party | (51,253) | (530,659) |
Net cash used in operating activities | (3,629,025) | (6,346,160) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (19,486) | (21,438) |
Net cash used in investing activities | (19,486) | (21,438) |
Cash flows from financing activities: | ||
Proceeds from exercise of warrants | 3,150,416 | 985,763 |
Payments finance lease obligations | (5,779) | (4,998) |
Net proceeds from employee options exercised | 770,702 | 0 |
Net proceeds from note payable | 0 | 276,180 |
Net proceeds from Public Placement Offering | 0 | 18,043,284 |
Net cash provided by financing activities | 3,915,339 | 19,300,229 |
Net increase in cash and cash equivalents | 266,828 | 12,932,631 |
Cash and cash equivalents at beginning of period | 14,223,917 | 1,516,272 |
Cash and cash equivalents at end of period | 14,490,745 | 14,448,903 |
Supplemental non-cash disclosure of cash flow information: | ||
Initial recognition of operating lease-right of use assets | 0 | (706,071) |
Initial recognition of operating lease right to used liabilities | $ 0 | $ 706,071 |
Note 1 - Organization and Busin
Note 1 - Organization and Business | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 All references in this report to “Milestone Scientific,” “us,” “our,” “we,” the “Company” or “Milestone” refer to Milestone Scientific Inc., and its consolidated subsidiaries, Wand Dental, Inc., Milestone Advanced Cosmetic Systems, Inc., and Milestone Medical, Inc. (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 June 2017, 510 CompuFlo In December 2016, 510 not 510 510 2019, 510 not 2019 2020. not |
Note 2 - Liquidity and Uncertai
Note 2 - Liquidity and Uncertainties | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 2 AND UNCERTAINTIES The Company has evaluated whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one September 30, 2021, three nine September 30, 2021, In April June 2020, 9 September 30, 2021, December 31, 2020. The coronavirus (COVID- 19 19, three nine September 30, 2020, 19, 2021 2022. In addition to our employees, we rely on (i) distributors, agents, and third third may In addition, it is uncertain as to what effect the continuing spread of COVID- 19 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 3 1. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and include the accounts of Milestone Scientific and its wholly owned and majority owned subsidiaries, including, Wand Dental (wholly owned), Milestone Advanced Cosmetic (majority owned), and Milestone Medical (majority owned). All significant, intra-entity transactions and balances have been eliminated in consolidation. 2. The unaudited condensed consolidated financial statements of Milestone Scientific have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information with the instructions for Form 10 8 X. not not may December 31, 2020, 10 3. Certain reclassifications have been made to the 2020 2021 no 4. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, 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. 5. The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To evaluate revenue recognition for customer arrangements the Company performs the following five i. identification of the promised goods or services in the contract; ii. determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; iii. measurement of the transaction price, including the constraint on variable consideration; iv. allocation of the transaction price to the performance obligations based on estimated standalone selling prices; and selling prices; and v. recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606, The Company derives its revenues from the sale of its products, primarily dental instruments, handpieces, and other related products. The Company sells its products through a global distribution network that includes 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 free-on-board (FOB) shipping, revenue is recognized upon delivery to the carrier. 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, 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 11 nine September 30, 2021 6. A variable interest entity ("VIE") is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. 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. 6. 7. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three September 30, 2021 December 31, 2020 may 8. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the inability of its customers to make payments on amounts billed. Most credit sales are due within 90 not September 30, 2021 December 31, 2020 9. Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first not September 30, 2021 December 31, 2020, 4. 10. Investments in which Milestone Scientific can exercise significant influence, but do not may 6. 11. Equipment is recorded at cost, less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets, which range from two seven 12. Patents and other developed technology created “in-house” 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 or person are amortized based on the estimated useful life of the patent. These patents and developed technology are recorded at the acquisition cost. 13. Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not ● significant under performance relative to expected historical or projected future operating results; ● significant changes in the manner of our use of the acquired assets or the strategy for our overall business; ● significant negative industry or economic trends; and ● significant technological changes, which would render the technology obsolete. Recoverability of assets that will continue to be used in the Company's operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. 14. On April 27, 2020, March 27, 2020. June 30, 2021, 15. Research and development costs, which consist principally of new product development costs payable to third 16. Milestone Scientific accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. See Note 10. On September 30, 2021 December 31, 2020 2017, 2018, 2019, 2020 17. Milestone Scientific presents “basic” earnings (loss) per common share applicable to common stockholders and, if applicable, “diluted” earnings (loss) per common share applicable to common stockholders pursuant to the provisions of ASC 260, Since Milestone Scientific had net losses in the nine September 30, 2021 2020, not September 30, 2021 2020, 18. 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 September 30, 2021 December 31, 2020, not 19. Milestone Scientific accounts for stock-based compensation under ASC 718, 718” 718 20. At the inception of an arrangement, we determine whether an arrangement is, or contains, a lease. An arrangement is, or contains, a lease if the arrangement conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases with a term greater than one not 12 not Finance and operating lease right-of-use assets represent the Company’s right to use an underlying asset over the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. These assets and obligations are recognized at the lease commencement date based on the present value of lease payments, net of incentives, over the lease term. The interest rate implicit in our leases is typically not We evaluate the classification of our leases as either finance leases or operating leases. Leases that are economically similar to the purchase of assets are generally classified as finance leases; otherwise, the leases are classified as operating leases. Lease cost for our operating leases is recognized on a straight-line basis over the lease term. Included in lease cost are any variable lease payments incurred in the period that are not 12 14. 22. Recently Adopted Accounting Pronouncements In December 2019, 2019 12, 740 2019 12 December 15, 2020. January 1, 2021, not Recently Issued Accounting Pronouncements In June 2016, No.2016 13, 326 December 15, 2022. In January 2020, 2020 01, 321 323 815 2020 01 December 15, 2021, not In August 2020, 2020 06, 470 20 815 40 2020 06 December 15, 2021, not In May 2021, 2021 04, 260 470 50 718 815 40 1 2 January 1, 2022, January 1, 2022. 2021 04 |
Note 4 - Inventories
Note 4 - Inventories | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4 Inventories consist of the following: September 30, 2021 December 31, 2020 Dental finished goods, net $ 526,308 $ 1,888,141 Medical finished goods, net 1,057,476 200,327 Component parts and other materials 92,748 331,711 Total inventories $ 1,676,532 $ 2,420,179 On September 30, 2021 December 31, 2020 |
Note 5 - Advances on Contracts
Note 5 - Advances on Contracts | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Advances to Contract Manufacturer [Text Block] | NOTE 5 The advances on contracts represent funding of future STA inventory purchases, epidural instruments, and epidural replacement parts. The balance of the advances as of September 30, 2021 December 31, 2020 |
Note 6 - Investment in and Tran
Note 6 - Investment in and Transactions With Equity Investees | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 6 Milestone China Ltd. Ownership In June 2014, In the first 2020, However, as of the filing date of this Quarterly Report, due to the COVID- 19 not may Milestone Scientific, in previous years, reduced its investment in Milestone China to zero and had accumulated losses over its investment of approximately $5.9 million at December 31, 2020. For the three nine September 30, 2021, not three nine September 30, 2020. September 30, 2021, September 30, 2021. Related Party Transactions Milestone China Distribution Agreement Milestone China is Milestone Scientific’s exclusive distributor in China. During 2017 2018, 2018, United Systems, Inc. Agreement In April 2020, 13 2018, not April 2020, April 23, 2020, June 2020, July 2020. Advanced Cosmetics Systems Agreement In May 2020, one May 18, 2021, 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 third At September 30 ,2021 December 31, 2020, three nine September 30, 2021, three nine September 30, 2020, not |
Note 7 - Patents
Note 7 - Patents | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 7 September 30, 2021 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (1,082,674 ) $ 295,189 Total $ 1,377,863 $ (1,082,674 ) $ 295,189 December 31, 2020 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (1,048,614 ) $ 329,249 Total $ 1,377,863 $ (1,048,614 ) $ 329,249 Patents are amortized utilizing the straight-line method over estimated useful lives ranging from 3 to 20 years. Amortization expense was approximately $11,000 and $34,000 for the three nine September 30, 2021, three nine September 30, 2020, |
Note 8 - Note Payable
Note 8 - Note Payable | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8 On April 27, 2020, March 27, 2020. 2.5 seven The Loan matured on April 27, 2022, 1.00% November 26, 2020. April 27, 2022, not may no may February 15, 2020. During the quarter ending June 30, 2021, |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9 Public Offering and Private Placement In the second 2020, two April 2020, three June 2020, second three Warrants The following table summarizes information about shares issuable under warrants outstanding as of September 30, 2021 Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2021 6,369,396 $ 1.97 $ 2.48 $ 2,784,117 Issued - Exercised (2,004,926 ) 1.57 - - Expired or cancelled - - - - Outstanding and exercisable at September 30, 2021 4,364,470 $ 2.15 $ 1.76 $ 1,088,192 The following table summarizes information about shares issuable under warrants outstanding as of September 30, 2020 Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2020 1,074,171 $ 0.50 $ 4.10 $ 956,012 Issued 6,459,000 2.01 3.00 - Exercised (1,133,975 ) 0.87 - - Expired or cancelled - - - - Outstanding and exercisable at September 30, 2020 6,399,196 $ 1.95 $ 2.73 $ 880,449 Shares to Be Issued As of September 30, 2021 2020, As of September 30, 2021 2020, The following table summarizes information about shares to be issued on September 30, 2021 2020, September 30, 2021 September 30, 2020 Shares-to-be-issued, outstanding January 1, 2021 and 2020, respectively 2,428,329 2,375,762 Granted in current period 33,238 363,956 Issued in current period (455,906 ) (387,991 ) Shares-to be issued outstanding September 30, 2021 and 2020, respectively 2,005,661 2,351,727 Stock Option Plans In June 2011, 2011 "2011 2016 three five September 30, 2021 December 31, 2020, 2011 The Milestone Scientific Inc. 2020 "2020 June 2031. may not three five On April 8, 2021, April 23, 2021, five ten 2020 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 nine September 30, 2021 2020, September 30, 2021 A summary of option activity for employees under the plans and changes during the nine September 30, 2021 2020 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2021 1,953,443 1.88 3.09 476,964 Granted 2,032,175 2.48 9.48 - Exercised during 2021 (485,247 ) 1.59 - - Forfeited or expired (351,759 ) 1.99 - - Options outstanding September 30, 2021 3,148,612 2.30 7.14 35,776 Exercisable, September 30, 2021 604,817 1.95 1.90 35,776 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2020 1,212,442 1.61 2.00 - Granted 80,000 - - - Exercised during 2020 - - - - Forfeited or expired (289,464 ) 3.89 - - 1,002,978 1.56 1.59 114,570 Exercisable, September 30, 2020 828,370 1.55 1.38 88,983 The Company used the following assumptions to calculate the fair value of the stock option grants using the Black-Scholes option pricing model on the measurement date during the nine September 30, 2021 A summary of option activity for non-employees under the plans and changes during the nine September 30, 2021 2020 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2021 74,997 1.41 3.18 54,748 Granted 16,666 3.94 4.48 Exercised during 2021 (8,333 ) 2.34 2.34 - Options outstanding September 30, 2021 83,330 1.83 3.09 38,082 Exercisable, September 30, 2021 55,553 1.09 2.19 32,860 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2020 49,998 1.43 2.94 19,333 Granted 24,999 1.70 3.00 - Exercised during 2020 - - - - Options outstanding September 30, 2020 74,997 1.52 2.86 19,333 Exercisable, September 30, 2020 52,776 1.57 2.24 14,666 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 nine September 30, 2021, nine September 30, 2020, The Company used the following assumptions to calculate the fair value of the stock option grants using the Black-Scholes option pricing model on the measurement date during the nine September 30, 2021, The information below summarizes the restricted stock activity for the nine September 30, 2021: Restricted Stock Awards Shares Weighted Average Grant-Date Fair Value per Award Non-vested as December 31, 2020 - $ - Granted 89,285 2.52 Vested - - Cancelled (11,458 ) - Non-vested as September 30, 2021 77,827 $ 2.52 For the three nine September 30, 2021, |
Note 10 - Income Taxes
Note 10 - Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 10 The utilization of Milestone Scientific's net operating losses may 382 may |
Note 11 - Segment and Geographi
Note 11 - Segment and Geographic Data | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Product Sales and Significant Customers and Vendors Disclosure [Text Block] | NOTE 11 We conduct our business through two reportable segments: Dental and Medical. These segments offer different products and services to different customer bases. The Company provides general corporate services to its segments; however, these services are not The following tables present information about our reportable and operating segments: Net Sales: Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 2,076,233 $ 1,240,110 $ 7,334,628 $ 3,209,370 Medical 32,000 6,000 124,050 15,800 Total net sales $ 2,108,233 $ 1,246,110 $ 7,458,678 $ 3,225,170 Operating Income (Loss): Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 193,252 $ 191,235 $ 1,844,083 $ (32,624 ) Medical (937,876 ) (812,840 ) (2,968,596 ) (2,297,080 ) Corporate (1,236,297 ) (855,123 ) (4,713,353 ) (3,928,521 ) Total operating loss $ (1,980,921 ) $ (1,476,728 ) $ (5,837,866 ) $ (6,258,225 ) Depreciation and Amortization Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 892 $ 402 $ 3,458 $ 9,202 Medical 1,241 674 6,257 5,006 Corporate 14,220 15,429 42,398 60,653 Total depreciation and amortization $ 16,353 $ 16,505 $ 52,113 $ 74,861 Income (loss) before taxes and equity in earnings of affiliates: Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 191,864 $ 190,472 $ 1,915,148 $ (35,376 ) Medical (939,202 ) (813,935 ) (2,972,462 ) (2,300,243 ) Corporate (1,238,191 ) (853,834 ) (4,515,976 ) (3,931,333 ) Total loss before taxes and equity in earnings of affiliate $ (1,985,529 ) $ (1,477,297 ) $ (5,573,290 ) $ (6,266,952 ) Total Assets: September 30, 2021 December 31, 2020 Dental $ 6,047,663 $ 6,035,645 Medical 1,369,098 923,658 Corporate 12,660,726 12,612,147 Total assets $ 20,077,487 $ 19,571,450 The following table presents information about our operations by geographic area for three September 30, 2021 2020 Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Dental Medical Grand Total Dental Medical Grand Total Domestic: US Instruments $ 36,480 $ - $ 36,480 $ 34,657 $ - $ 34,657 Handpieces 721,149 11,500 732,649 356,566 - 356,566 Accessories 21,253 - 21,253 16,906 - 16,906 Total Domestic US $ 778,882 $ 11,500 $ 790,382 $ 408,129 $ - $ 408,129 International: Rest of World Instruments $ 253,063 $ 4,500 $ 257,563 $ 220,694 $ - $ 220,694 Handpieces 674,133 16,000 690,133 602,000 6,000 608,000 Accessories 9,300 - 9,300 9,287 - 9,287 Total International $ 936,496 $ 20,500 $ 956,996 $ 831,981 $ 6,000 $ 837,981 International: China Instruments $ - $ - $ - $ - $ - $ - Handpieces 360,855 - 360,855 - - - Accessories - - - - - - Total International 360,855 - $ 360,855 - - - Total Product Sales $ 2,076,233 $ 32,000 $ 2,108,233 $ 1,240,110 $ 6,000 $ 1,246,110 The following table presents information about our operations by geographic area for nine September 30, 2021 2020 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Dental Medical Grand Total Dental Medical Grand Total Domestic: US Instruments $ 391,250 $ - $ 391,250 $ 35,181 $ - $ 35,181 Handpieces 2,319,049 19,650 2,338,699 992,057 2,000 994,057 Accessories 58,134 58,134 37,895 - 37,895 Total Domestic US $ 2,768,433 $ 19,650 $ 2,788,083 $ 1,065,133 $ 2,000 $ 1,067,133 International: Rest of World Instruments $ 792,903 $ 62,500 $ 855,403 $ 494,998 $ 7,600 $ 502,598 Handpieces 2,337,692 41,900 2,379,592 1,618,524 6,200 1,624,724 Accessories 42,409 42,409 30,715 - 30,715 Total International $ 3,173,004 $ 104,400 $ 3,277,404 $ 2,144,237 $ 13,800 $ 2,158,037 International: China Instruments $ 228,000 $ - $ 228,000 $ - $ - $ - Handpieces 1,165,191 - 1,165,191 - - - Accessories - - - - - - Total International 1,393,191 - $ 1,393,191 $ - $ - $ - Total Product Sales $ 7,334,628 $ 124,050 $ 7,458,678 $ 3,209,370 $ 15,800 $ 3,225,170 |
Note 12 - Concentrations
Note 12 - Concentrations | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 12 Milestone Scientific has informal arrangements with third For the three September 30, 2021, nine September 30, 2021, three nine September 30, 2020, Accounts receivable for domestic and international distributors was approximately 32% and 68%, respectively, of Milestone Scientific's gross accounts receivable as of September 30, 2021. December 31, 2020. |
Note 13 - Related Party Transac
Note 13 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 13 United Systems Milestone Scientific has a manufacturing agreement with United Systems (whose controlling shareholder, Tom Cheng, is a significant stockholder of Milestone Scientific), the sole manufacturer of its handpieces, pursuant to which it manufactures products under specific purchase orders, but without minimum purchase commitments. Purchases from this manufacturer were approximately $417,000 and $373,000 for the three September 30, 2021 2020, nine September 30, 2021 2020, As of September 30, 2021 December 31, 2020, September 30, 2021 December 31, 2020, June 2021, ten April 29, 2020, 6. Milestone China See Note 6. Other As of September 30, 2021 December 31, 2020, $30,000 The Company engaged Mr. Trombetta as a consultant for a period of twelve October 1, 2020 September 30, 2021), three nine September 30, 2021 In January 2017, twelve three nine September 30, 2020, September 30, 2020. In August 2016, three nine September 30, 2021 2020, The Director of Clinical Affairs’ royalty fee was approximately $74,000 and $61,000 for the three September 30, 2021 2020, nine September 30, 2021 2020, three nine September 30, 2021 2020, September 30, 2021 December 31, 2020, 14 3 On March 2, 2021, May 9, 2027, February 25, 2021 May 9, 2027 Pursuant to a Succession Agreement dated April 6, 2021 July 10, 2017 July 10, 2017 ( 9.5 May 19, 2021. |
Note 14 - Commitments
Note 14 - Commitments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14 ( 1 third January 2021, 2021. September 30, 2021 As of September 30, 2021 ( 2 Operating Leases In June 2015, January 31, 2020 not not not In August 2019, not seven January 8, 2020. April 1, 2020 January 1 not As of September 30, 2021 September 30, 2021, December 31, 2020, December 31, 2020, Cash flow information related to the Company's right-of-use assets and related lease liabilities were as follows: Three Months Ended September 30, Nine Months Ended September 30, Lease cost 2021 2020 2021 2020 Cash paid for operating lease liabilities 31,882 30,820 95,645 78,904 Cash paid for finance lease liabilities 2,658 2,685 8,055 76,622 Right-of-use assets obtained in exchange for new operating lease liabilities (1) - - - 663,009 Property and equipment obtained in exchange for new finance lease liabilities - - - 43,242 (1) For the nine months ended September 30, 2021, the balance includes operating leases existing as of the adoption of ASC 842 on January 1, 2021 Weighted-average remaining lease term - operating leases (years) - - 5.5 6.5 Weighted-average remaining lease term- finance leases (years) - - 3.3 4.3 ( 3 The technology underlying the Safety Wand CompuFlo CompuDent January 1, 2005, 2.5% May 9, 2027 – 13 On March 2, 2021, May 9, 2027, February 25, 2021 May 9, 2027 Succession Agreement Pursuant to a Succession Agreement dated April 6, 2021 July 10, 2017 July 10, 2017 ( 9.5 May 19, 2021. September 30. 2021, $83,000, 14 3 |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 15— On November 9, 2021, 2016 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | 1. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and include the accounts of Milestone Scientific and its wholly owned and majority owned subsidiaries, including, Wand Dental (wholly owned), Milestone Advanced Cosmetic (majority owned), and Milestone Medical (majority owned). All significant, intra-entity transactions and balances have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | 2. The unaudited condensed consolidated financial statements of Milestone Scientific have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information with the instructions for Form 10 8 X. not not may December 31, 2020, 10 |
Reclassification, Comparability Adjustment [Policy Text Block] | 3. Certain reclassifications have been made to the 2020 2021 no |
Use of Estimates, Policy [Policy Text Block] | 4. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to the allowance for doubtful accounts, inventory valuation, 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] | 5. The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To evaluate revenue recognition for customer arrangements the Company performs the following five i. identification of the promised goods or services in the contract; ii. determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; iii. measurement of the transaction price, including the constraint on variable consideration; iv. allocation of the transaction price to the performance obligations based on estimated standalone selling prices; and selling prices; and v. recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606, The Company derives its revenues from the sale of its products, primarily dental instruments, handpieces, and other related products. The Company sells its products through a global distribution network that includes 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 free-on-board (FOB) shipping, revenue is recognized upon delivery to the carrier. 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, 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 11 nine September 30, 2021 |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | 6. A variable interest entity ("VIE") is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. 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. 6. |
Cash and Cash Equivalents, Policy [Policy Text Block] | 7. Milestone Scientific considers all highly liquid investments purchased with an original maturity of three September 30, 2021 December 31, 2020 may |
Trade and Other Accounts Receivable, Unbilled Receivables, Policy [Policy Text Block] | 8. Milestone Scientific sells a significant amount of its product on credit terms to its major distributors. Milestone Scientific estimates losses from the inability of its customers to make payments on amounts billed. Most credit sales are due within 90 not September 30, 2021 December 31, 2020 |
Inventory, Policy [Policy Text Block] | 9. Inventories principally consist of finished goods and component parts stated at the lower of cost ( first first not September 30, 2021 December 31, 2020, 4. |
Equity Method Investments [Policy Text Block] | 10. Investments in which Milestone Scientific can exercise significant influence, but do not may 6. |
Property, Plant and Equipment, Policy [Policy Text Block] | 11. Equipment is recorded at cost, less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets, which range from two seven |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | 12. Patents and other developed technology created “in-house” 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 or person are amortized based on the estimated useful life of the patent. These patents and developed technology are recorded at the acquisition cost. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | 13. Long-lived assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not ● significant under performance relative to expected historical or projected future operating results; ● significant changes in the manner of our use of the acquired assets or the strategy for our overall business; ● significant negative industry or economic trends; and ● significant technological changes, which would render the technology obsolete. Recoverability of assets that will continue to be used in the Company's operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. |
Debt, Policy [Policy Text Block] | 14. On April 27, 2020, March 27, 2020. June 30, 2021, |
Research and Development Expense, Policy [Policy Text Block] | 15. Research and development costs, which consist principally of new product development costs payable to third |
Income Tax, Policy [Policy Text Block] | 16. Milestone Scientific accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. See Note 10. On September 30, 2021 December 31, 2020 2017, 2018, 2019, 2020 |
Earnings Per Share, Policy [Policy Text Block] | 17. Milestone Scientific presents “basic” earnings (loss) per common share applicable to common stockholders and, if applicable, “diluted” earnings (loss) per common share applicable to common stockholders pursuant to the provisions of ASC 260, Since Milestone Scientific had net losses in the nine September 30, 2021 2020, not September 30, 2021 2020, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | 18. 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 September 30, 2021 December 31, 2020, not |
Share-based Payment Arrangement [Policy Text Block] | 19. Milestone Scientific accounts for stock-based compensation under ASC 718, 718” 718 |
Lessee, Leases [Policy Text Block] | 20. At the inception of an arrangement, we determine whether an arrangement is, or contains, a lease. An arrangement is, or contains, a lease if the arrangement conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases with a term greater than one not 12 not Finance and operating lease right-of-use assets represent the Company’s right to use an underlying asset over the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. These assets and obligations are recognized at the lease commencement date based on the present value of lease payments, net of incentives, over the lease term. The interest rate implicit in our leases is typically not We evaluate the classification of our leases as either finance leases or operating leases. Leases that are economically similar to the purchase of assets are generally classified as finance leases; otherwise, the leases are classified as operating leases. Lease cost for our operating leases is recognized on a straight-line basis over the lease term. Included in lease cost are any variable lease payments incurred in the period that are not 12 14. |
New Accounting Pronouncements, Policy [Policy Text Block] | 22. Recently Adopted Accounting Pronouncements In December 2019, 2019 12, 740 2019 12 December 15, 2020. January 1, 2021, not Recently Issued Accounting Pronouncements In June 2016, No.2016 13, 326 December 15, 2022. In January 2020, 2020 01, 321 323 815 2020 01 December 15, 2021, not In August 2020, 2020 06, 470 20 815 40 2020 06 December 15, 2021, not In May 2021, 2021 04, 260 470 50 718 815 40 1 2 January 1, 2022, January 1, 2022. 2021 04 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, 2021 December 31, 2020 Dental finished goods, net $ 526,308 $ 1,888,141 Medical finished goods, net 1,057,476 200,327 Component parts and other materials 92,748 331,711 Total inventories $ 1,676,532 $ 2,420,179 |
Note 7 - Patents (Tables)
Note 7 - Patents (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | September 30, 2021 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (1,082,674 ) $ 295,189 Total $ 1,377,863 $ (1,082,674 ) $ 295,189 December 31, 2020 Cost Accumulated Amortization Net Patents-foundation intellectual property $ 1,377,863 $ (1,048,614 ) $ 329,249 Total $ 1,377,863 $ (1,048,614 ) $ 329,249 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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, 2021 6,369,396 $ 1.97 $ 2.48 $ 2,784,117 Issued - Exercised (2,004,926 ) 1.57 - - Expired or cancelled - - - - Outstanding and exercisable at September 30, 2021 4,364,470 $ 2.15 $ 1.76 $ 1,088,192 Warrant shares outstanding Weighted Average exercise price Weighted Average remaining life Intrinsic value Outstanding at January 1, 2020 1,074,171 $ 0.50 $ 4.10 $ 956,012 Issued 6,459,000 2.01 3.00 - Exercised (1,133,975 ) 0.87 - - Expired or cancelled - - - - Outstanding and exercisable at September 30, 2020 6,399,196 $ 1.95 $ 2.73 $ 880,449 |
Deferred Compensation Arrangement with Individual, Share-based Payments [Table Text Block] | September 30, 2021 September 30, 2020 Shares-to-be-issued, outstanding January 1, 2021 and 2020, respectively 2,428,329 2,375,762 Granted in current period 33,238 363,956 Issued in current period (455,906 ) (387,991 ) Shares-to be issued outstanding September 30, 2021 and 2020, respectively 2,005,661 2,351,727 |
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 January 1, 2021 1,953,443 1.88 3.09 476,964 Granted 2,032,175 2.48 9.48 - Exercised during 2021 (485,247 ) 1.59 - - Forfeited or expired (351,759 ) 1.99 - - Options outstanding September 30, 2021 3,148,612 2.30 7.14 35,776 Exercisable, September 30, 2021 604,817 1.95 1.90 35,776 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2020 1,212,442 1.61 2.00 - Granted 80,000 - - - Exercised during 2020 - - - - Forfeited or expired (289,464 ) 3.89 - - 1,002,978 1.56 1.59 114,570 Exercisable, September 30, 2020 828,370 1.55 1.38 88,983 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2021 74,997 1.41 3.18 54,748 Granted 16,666 3.94 4.48 Exercised during 2021 (8,333 ) 2.34 2.34 - Options outstanding September 30, 2021 83,330 1.83 3.09 38,082 Exercisable, September 30, 2021 55,553 1.09 2.19 32,860 Number of Options Weighted Averaged Exercise Price $ Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options Value $ Options outstanding January 1, 2020 49,998 1.43 2.94 19,333 Granted 24,999 1.70 3.00 - Exercised during 2020 - - - - Options outstanding September 30, 2020 74,997 1.52 2.86 19,333 Exercisable, September 30, 2020 52,776 1.57 2.24 14,666 |
Restricted Stock [Member] | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Restricted Stock Awards Shares Weighted Average Grant-Date Fair Value per Award Non-vested as December 31, 2020 - $ - Granted 89,285 2.52 Vested - - Cancelled (11,458 ) - Non-vested as September 30, 2021 77,827 $ 2.52 |
Note 11 - Segment and Geograp_2
Note 11 - Segment and Geographic Data (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Net Sales: Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 2,076,233 $ 1,240,110 $ 7,334,628 $ 3,209,370 Medical 32,000 6,000 124,050 15,800 Total net sales $ 2,108,233 $ 1,246,110 $ 7,458,678 $ 3,225,170 Operating Income (Loss): Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 193,252 $ 191,235 $ 1,844,083 $ (32,624 ) Medical (937,876 ) (812,840 ) (2,968,596 ) (2,297,080 ) Corporate (1,236,297 ) (855,123 ) (4,713,353 ) (3,928,521 ) Total operating loss $ (1,980,921 ) $ (1,476,728 ) $ (5,837,866 ) $ (6,258,225 ) Depreciation and Amortization Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 892 $ 402 $ 3,458 $ 9,202 Medical 1,241 674 6,257 5,006 Corporate 14,220 15,429 42,398 60,653 Total depreciation and amortization $ 16,353 $ 16,505 $ 52,113 $ 74,861 Income (loss) before taxes and equity in earnings of affiliates: Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Dental $ 191,864 $ 190,472 $ 1,915,148 $ (35,376 ) Medical (939,202 ) (813,935 ) (2,972,462 ) (2,300,243 ) Corporate (1,238,191 ) (853,834 ) (4,515,976 ) (3,931,333 ) Total loss before taxes and equity in earnings of affiliate $ (1,985,529 ) $ (1,477,297 ) $ (5,573,290 ) $ (6,266,952 ) Total Assets: September 30, 2021 December 31, 2020 Dental $ 6,047,663 $ 6,035,645 Medical 1,369,098 923,658 Corporate 12,660,726 12,612,147 Total assets $ 20,077,487 $ 19,571,450 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Dental Medical Grand Total Dental Medical Grand Total Domestic: US Instruments $ 36,480 $ - $ 36,480 $ 34,657 $ - $ 34,657 Handpieces 721,149 11,500 732,649 356,566 - 356,566 Accessories 21,253 - 21,253 16,906 - 16,906 Total Domestic US $ 778,882 $ 11,500 $ 790,382 $ 408,129 $ - $ 408,129 International: Rest of World Instruments $ 253,063 $ 4,500 $ 257,563 $ 220,694 $ - $ 220,694 Handpieces 674,133 16,000 690,133 602,000 6,000 608,000 Accessories 9,300 - 9,300 9,287 - 9,287 Total International $ 936,496 $ 20,500 $ 956,996 $ 831,981 $ 6,000 $ 837,981 International: China Instruments $ - $ - $ - $ - $ - $ - Handpieces 360,855 - 360,855 - - - Accessories - - - - - - Total International 360,855 - $ 360,855 - - - Total Product Sales $ 2,076,233 $ 32,000 $ 2,108,233 $ 1,240,110 $ 6,000 $ 1,246,110 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Dental Medical Grand Total Dental Medical Grand Total Domestic: US Instruments $ 391,250 $ - $ 391,250 $ 35,181 $ - $ 35,181 Handpieces 2,319,049 19,650 2,338,699 992,057 2,000 994,057 Accessories 58,134 58,134 37,895 - 37,895 Total Domestic US $ 2,768,433 $ 19,650 $ 2,788,083 $ 1,065,133 $ 2,000 $ 1,067,133 International: Rest of World Instruments $ 792,903 $ 62,500 $ 855,403 $ 494,998 $ 7,600 $ 502,598 Handpieces 2,337,692 41,900 2,379,592 1,618,524 6,200 1,624,724 Accessories 42,409 42,409 30,715 - 30,715 Total International $ 3,173,004 $ 104,400 $ 3,277,404 $ 2,144,237 $ 13,800 $ 2,158,037 International: China Instruments $ 228,000 $ - $ 228,000 $ - $ - $ - Handpieces 1,165,191 - 1,165,191 - - - Accessories - - - - - - Total International 1,393,191 - $ 1,393,191 $ - $ - $ - Total Product Sales $ 7,334,628 $ 124,050 $ 7,458,678 $ 3,209,370 $ 15,800 $ 3,225,170 |
Note 14 - Commitments (Tables)
Note 14 - Commitments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lease, Cost and Other Information [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, Lease cost 2021 2020 2021 2020 Cash paid for operating lease liabilities 31,882 30,820 95,645 78,904 Cash paid for finance lease liabilities 2,658 2,685 8,055 76,622 Right-of-use assets obtained in exchange for new operating lease liabilities (1) - - - 663,009 Property and equipment obtained in exchange for new finance lease liabilities - - - 43,242 (1) For the nine months ended September 30, 2021, the balance includes operating leases existing as of the adoption of ASC 842 on January 1, 2021 Weighted-average remaining lease term - operating leases (years) - - 5.5 6.5 Weighted-average remaining lease term- finance leases (years) - - 3.3 4.3 |
Note 1 - Organization and Bus_2
Note 1 - Organization and Business (Details Textual) | Sep. 30, 2021 |
Number of Countries in which Entity Operates | 60 |
Note 2 - Liquidity and Uncert_2
Note 2 - Liquidity and Uncertainties (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Jun. 30, 2020 | Apr. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (106,582,501) | $ (106,582,501) | $ (100,885,957) | ||||
Net Income (Loss) Attributable to Parent, Total | (2,043,207) | $ (1,490,989) | (5,696,544) | $ (6,257,668) | |||
Proceeds from Issuance of Common Stock | 0 | 18,043,284 | |||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 14,490,745 | 14,490,745 | $ 14,223,917 | ||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | $ 266,828 | $ 12,932,631 | |||||
April 6, 2020 Public Offering [Member] | |||||||
Proceeds from Issuance of Common Stock | $ 4,600,000 | ||||||
June 30, 2020 Public Offering [Member] | |||||||
Proceeds from Issuance of Common Stock | $ 13,400,000 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Apr. 27, 2020USD ($) | Sep. 30, 2021USD ($)shares | Sep. 30, 2020USD ($)shares | Dec. 31, 2020USD ($) |
Number of Operating Segments | 2 | |||
Short-term Investments, Total | $ 14,300,000 | $ 13,100,000 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 279,973 | 10,000 | ||
Inventory Valuation Reserves, Ending Balance | 450,000 | 453,000 | ||
Proceeds from Notes Payable, Total | 0 | $ 276,180 | ||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | |||
Open Tax Year | 2017 2018 2019 2020 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 7,674,239 | 7,477,171 | ||
Paycheck Protection Program CARES Act [Member] | ||||
Proceeds from Notes Payable, Total | $ 276,000 | |||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 2 years | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Note 4 - Inventories (Details T
Note 4 - Inventories (Details Textual) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Inventory Valuation Reserves, Ending Balance | $ 450,000 | $ 453,000 |
Slow Moving Medical Finished Goods [Member] | ||
Inventory Valuation Reserves, Ending Balance | $ 450,000 | 450,000 |
Slow Moving Dental Finished Goods [Member] | ||
Inventory Valuation Reserves, Ending Balance | $ 3,000 |
Note 4 - Inventories - Summary
Note 4 - Inventories - Summary of Inventories (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Component parts and other materials | $ 92,748 | $ 331,711 |
Total inventories | 1,676,532 | 2,420,179 |
Dental Segment [Member] | ||
Finished goods, net | 526,308 | 1,888,141 |
Medical Segment [Member] | ||
Finished goods, net | $ 1,057,476 | $ 200,327 |
Note 5 - Advances on Contracts
Note 5 - Advances on Contracts (Details Textual) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Advances on Inventory Purchases | $ 1,509,530 | $ 414,202 |
Note 6 - Investment in and Tr_2
Note 6 - Investment in and Transactions With Equity Investees (Details Textual) - USD ($) | Apr. 30, 2020 | Apr. 29, 2020 | Jul. 31, 2020 | May 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2018 | Jun. 30, 2021 | Mar. 27, 2021 | Dec. 31, 2020 | Apr. 23, 2020 | Jun. 30, 2014 |
Equity Method Investment, Deferred Intercompany Profit (Loss) | $ 407,000 | $ 407,000 | ||||||||||||
Income (Loss) from Equity Method Investments, Total | (69,905) | $ 0 | (164,461) | $ 0 | ||||||||||
Acquisition of Advanced Cosmetic Systems [Member] | ||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | 100.00% | ||||||||||||
Business Combination, Consideration Transferred, Total | $ 900,000 | |||||||||||||
Business Combination, Percentage of Ownership Interest that Seller of Ownership Interest May Repurchase Within One Year of Sale Date | 50.00% | |||||||||||||
Business Combination, Price at Which the Additional Ownership Interest Acquired May Repurchased Within One Year of Sale Date | $ 900,000 | |||||||||||||
Manufacturing Agreement for Handpieces [Member] | ||||||||||||||
Related Party Transaction, Purchases from Related Party | $ 370,260 | $ 370,260 | 417,000 | 373,000 | 1,300,000 | 1,200,000 | ||||||||
Sale Price in Cash [Member] | ||||||||||||||
Related Party Transaction, Purchases from Related Party | 100,000 | $ 100,000 | ||||||||||||
Sale Price in Share [Member] | ||||||||||||||
Related Party Transaction, Purchases from Related Party | $ 170,260 | |||||||||||||
Share Price (in dollars per share) | $ 1.59 | |||||||||||||
Milestone China [Member] | ||||||||||||||
Revenue from Related Parties | 360,000 | 1,400,000 | $ 0 | |||||||||||
Contract with Customer, Liability, Total | 253,000 | 253,000 | ||||||||||||
Contract with Customer, Asset, Allowance for Credit Loss, Ending Balance | $ 269,973 | |||||||||||||
Milestone China [Member] | ||||||||||||||
Equity Method Investments | $ 1,000,000 | |||||||||||||
Equity Method Investment, Ownership Percentage | 40.00% | |||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 2,800,000 | |||||||||||||
Proceeds from Collection of Finance Receivables | $ 950,000 | |||||||||||||
Due from Related Parties, Total | $ 1,400,000 | |||||||||||||
Income (Loss) from Equity Method Investments, Total | $ 70,000 | $ 0 | $ 164,000 | |||||||||||
Milestone China [Member] | Accounts Receivable from Related Parties [Member] | ||||||||||||||
Equity Method Investment, Deferred Intercompany Profit (Loss) | 243,000 | |||||||||||||
Milestone Beijing [Member] | Milestone China [Member] | ||||||||||||||
Equity Method Investment, Ownership Percentage | 75.00% | |||||||||||||
Anhui [Member] | ||||||||||||||
Equity Method Investments | 0 | |||||||||||||
Equity Method Investment, Ownership Percentage | 28.40% | 28.40% | ||||||||||||
Equity Method Investments, Accumulated Loss | $ 5,900,000 |
Note 7 - Patents (Details Textu
Note 7 - Patents (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Amortization of Intangible Assets, Total | $ 34,060 | $ 39,759 | ||
Patents [Member] | ||||
Amortization of Intangible Assets, Total | $ 11,000 | $ 13,000 | $ 34,000 | $ 40,000 |
Patents [Member] | Minimum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |||
Patents [Member] | Maximum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years |
Note 7 - Patents - Summary of P
Note 7 - Patents - Summary of Patents (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Patents, cost | $ 1,377,863 | $ 1,377,863 |
Patents, accumulated amortization | (1,082,674) | (1,048,614) |
Patents-foundation intellectual property | 295,189 | 329,249 |
Foundation Intellectual Property Patents [Member] | ||
Patents, cost | 1,377,863 | 1,377,863 |
Patents, accumulated amortization | (1,082,674) | (1,048,614) |
Patents-foundation intellectual property | $ 295,189 | $ 329,249 |
Note 8 - Note Payable (Details
Note 8 - Note Payable (Details Textual) - USD ($) | Apr. 27, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Proceeds from Notes Payable, Total | $ 0 | $ 276,180 | |
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Notes Payable, Total | $ 276,000 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | Apr. 23, 2021 | Jun. 30, 2020 | Apr. 30, 2020 | Jun. 30, 2011 | Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.15 | $ 2.15 | $ 1.95 | $ 1.97 | $ 0.50 | |||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance (in shares) | 2,005,661 | 2,005,661 | 2,351,727 | 2,428,329 | 2,375,762 | |||||
Share-based Payment Arrangement, Option [Member] | ||||||||||
Share-based Payment Arrangement, Amount Capitalized | $ 451,000 | $ 68,000 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3,300,000 | $ 3,300,000 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 years 1 month 6 days | |||||||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 2,032,175 | 80,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.19% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.15% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 69.10% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 94.00% | |||||||||
Share-based Payment Arrangement, Expense | $ 20,000 | $ 9,000 | ||||||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Employee [Member] | Minimum [Member] | ||||||||||
Share Price (in dollars per share) | $ 2.46 | $ 2.46 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 3 years | |||||||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Employee [Member] | Maximum [Member] | ||||||||||
Share Price (in dollars per share) | 3.79 | $ 3.79 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 6 years 6 months | |||||||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Nonemployee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 16,666 | 24,999 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 97.69% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 98.09% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 2 years 10 months 24 days | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.30% | |||||||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Nonemployee [Member] | Minimum [Member] | ||||||||||
Share Price (in dollars per share) | 3.57 | $ 3.57 | ||||||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Nonemployee [Member] | Maximum [Member] | ||||||||||
Share Price (in dollars per share) | $ 4.30 | $ 4.30 | ||||||||
Restricted Stock [Member] | ||||||||||
Share-based Payment Arrangement, Expense | $ 16,667 | $ 37,500 | ||||||||
Stock Option Plan 2011 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 2,000,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 4,000,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercise Period from Grant Date (Year) | 3 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expire Period after Grant Date (Year) | 5 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 2,471,659 | 424,425 | ||||||||
The 2020 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 4,000,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | |||||||||
Chief Executive Officer, Chief Financial Officer and Employees [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance (in shares) | 1,861,639 | 1,861,639 | 2,202,229 | |||||||
Non-Employees [Member] | ||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 144,024 | 144,024 | 149,498 | |||||||
Vice Chairman of the Board of Directors [Member] | The 2020 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 2,000,000 | |||||||||
Warrants Associated With April 2020 Public Offering [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,710,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.20 | |||||||||
Warrants Associated With the June 2020 Public Offering [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,749,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.60 | |||||||||
April 6, 2020 Public Offering [Member] | ||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 5,100,000 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 5,420,000 | |||||||||
Share Price (in dollars per share) | $ 0.95 | |||||||||
June 30, 2020 Public Offering [Member] | ||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 14,600,000 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,770,000 | |||||||||
Share Price (in dollars per share) | $ 2.15 |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Warrants (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding, number of shares (in shares) | 6,369,396 | 1,074,171 | 1,074,171 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.97 | $ 0.50 | $ 0.50 | |
Outstanding, weighted average remaining life (Year) | 1 year 9 months 3 days | 2 years 8 months 23 days | 2 years 5 months 23 days | 4 years 1 month 6 days |
Outstanding, intrinsic value | $ 1,088,192 | $ 880,449 | $ 2,784,117 | $ 956,012 |
Issued, number of shares (in shares) | 0 | 6,459,000 | ||
Issued, weighted average exercise price (in dollars per share) | $ 2.01 | |||
Exercised, number of shares (in shares) | (2,004,926) | (1,133,975) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 1.57 | $ 0.87 | ||
Expired or cancelled (in shares) | 0 | 0 | ||
Expired or cancelled, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | ||
Issued, weighted average remaining life (Year) | 3 years | |||
Outstanding , number of shares (in shares) | 4,364,470 | 6,399,196 | 6,369,396 | 1,074,171 |
Outstanding , weighted average exercise price (in dollars per share) | $ 2.15 | $ 1.95 | $ 1.97 | $ 0.50 |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity - Summary of Shares to be Issued (Details) - shares | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Shares-to-be-issued, outstanding (in shares) | 2,428,329 | 2,375,762 |
Granted in current period (in shares) | 33,238 | 363,956 |
Issued in current period (in shares) | (455,906) | (387,991) |
Shares-to be issued outstanding (in shares) | 2,005,661 | 2,351,727 |
Note 9 - Stockholders' Equity_4
Note 9 - Stockholders' Equity - Summary of Option Activity for Employees and Non-employees (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Employee [Member] | ||||
Number of options (in shares) | 1,953,443 | 1,212,442 | 1,212,442 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.88 | $ 1.61 | $ 1.61 | |
Weighted average remaining contractual life, outstanding (Year) | 7 years 1 month 20 days | 1 year 7 months 2 days | 3 years 1 month 2 days | 2 years |
Aggregate intrinsic value, outstanding | $ 35,776 | $ 114,570 | $ 476,964 | $ 0 |
Number of options granted (in shares) | 2,032,175 | 80,000 | ||
Weighted average exercise price, granted (in dollars per share) | $ 2.48 | $ 0 | ||
Number of options exercised (in shares) | (485,247) | 0 | ||
Weighted average exercise price, exercised (in dollars per share) | $ 1.59 | $ 0 | ||
Number of options forfeited and expired (in shares) | (351,759) | (289,464) | ||
Weighted average exercise price, forfeited or expired (in dollars per share) | $ 1.99 | $ 3.89 | ||
Number of options exercisable (in shares) | 604,817 | 828,370 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.95 | $ 1.55 | ||
Weighted average remaining contractual life, exercisable (Year) | 1 year 10 months 24 days | 1 year 4 months 17 days | ||
Aggregate intrinsic value, exercisable | $ 35,776 | $ 88,983 | ||
Common stock issued to employee for stock options exercised (in shares) | 485,247 | 0 | ||
Number of options (in shares) | 3,148,612 | 1,002,978 | 1,953,443 | 1,212,442 |
Weighted average exercise price, outstanding (in dollars per share) | $ 2.30 | $ 1.56 | $ 1.88 | $ 1.61 |
Share-based Payment Arrangement, Nonemployee [Member] | ||||
Number of options (in shares) | 74,997 | 49,998 | 49,998 | |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.41 | $ 1.43 | $ 1.43 | |
Weighted average remaining contractual life, outstanding (Year) | 3 years 1 month 2 days | 2 years 10 months 9 days | 3 years 2 months 4 days | 2 years 11 months 8 days |
Aggregate intrinsic value, outstanding | $ 38,082 | $ 19,333 | $ 54,748 | |
Number of options granted (in shares) | 16,666 | 24,999 | ||
Weighted average exercise price, granted (in dollars per share) | $ 3.94 | $ 1.70 | ||
Number of options exercised (in shares) | (8,333) | 0 | ||
Weighted average exercise price, exercised (in dollars per share) | $ 2.34 | $ 0 | ||
Number of options exercisable (in shares) | 55,553 | 52,776 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 1.09 | $ 1.57 | ||
Weighted average remaining contractual life, exercisable (Year) | 2 years 2 months 8 days | 2 years 2 months 26 days | ||
Aggregate intrinsic value, exercisable | $ 32,860 | $ 14,666 | ||
Common stock issued to employee for stock options exercised (in shares) | 8,333 | 0 | ||
Number of options (in shares) | 83,330 | 74,997 | 74,997 | 49,998 |
Weighted average exercise price, outstanding (in dollars per share) | $ 1.83 | $ 1.52 | $ 1.41 | $ 1.43 |
Note 9 - Stockholders' Equity_5
Note 9 - Stockholders' Equity - Schedule of Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Non-vested, Shares (in shares) | 0 | |
Non-vested, Weighted Average Grant-Date Fair Value per Award (in dollars per share) | $ 2.52 | $ 0 |
Granted, Shares (in shares) | 89,285 | |
Granted, Weighted Average Grant-Date Fair Value per Award (in dollars per share) | $ 2.52 | |
Vested, Shares (in shares) | 0 | |
Vested, Weighted Average Grant-Date Fair Value per Award (in dollars per share) | $ 0 | |
Cancelled (in shares) | (11,458) | |
Non-vested, Shares (in shares) | 77,827 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) | 9 Months Ended |
Sep. 30, 2021 | |
Percentage of Valuation Allowance | 100.00% |
Note 11 - Segment and Geograp_3
Note 11 - Segment and Geographic Data (Details Textual) | 9 Months Ended |
Sep. 30, 2021 | |
Number of Reportable Segments | 2 |
Note 11 - Segment and Geograp_4
Note 11 - Segment and Geographic Data - Summary by Reporting and Operating Segments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Product sales, net | $ 2,108,233 | $ 1,246,110 | $ 7,458,678 | $ 3,225,170 | |
Operating Income (Loss) | (1,980,921) | (1,476,728) | (5,837,866) | (6,258,225) | |
Depreciation and Amortization | 16,353 | 16,505 | 52,113 | 74,861 | |
Income (loss) before taxes and equity in earnings of affiliates | (1,985,529) | (1,477,297) | (5,573,290) | (6,266,952) | |
Total assets | 20,077,487 | 20,077,487 | $ 19,571,450 | ||
Corporate, Non-Segment [Member] | |||||
Operating Income (Loss) | (1,236,297) | (855,123) | (4,713,353) | (3,928,521) | |
Depreciation and Amortization | 14,220 | 15,429 | 42,398 | 60,653 | |
Income (loss) before taxes and equity in earnings of affiliates | (1,238,191) | (853,834) | (4,515,976) | (3,931,333) | |
Total assets | 12,660,726 | 12,660,726 | 12,612,147 | ||
Dental Segment [Member] | |||||
Product sales, net | 2,076,233 | 1,240,110 | 7,334,628 | 3,209,370 | |
Dental Segment [Member] | Operating Segments [Member] | |||||
Product sales, net | 2,076,233 | 1,240,110 | 7,334,628 | 3,209,370 | |
Operating Income (Loss) | 193,252 | 191,235 | 1,844,083 | (32,624) | |
Depreciation and Amortization | 892 | 402 | 3,458 | 9,202 | |
Income (loss) before taxes and equity in earnings of affiliates | 191,864 | 190,472 | 1,915,148 | (35,376) | |
Total assets | 6,047,663 | 6,047,663 | 6,035,645 | ||
Medical Segment [Member] | |||||
Product sales, net | 32,000 | 6,000 | 124,050 | 15,800 | |
Medical Segment [Member] | Operating Segments [Member] | |||||
Product sales, net | 32,000 | 6,000 | 124,050 | 15,800 | |
Operating Income (Loss) | (937,876) | (812,840) | (2,968,596) | (2,297,080) | |
Depreciation and Amortization | 1,241 | 674 | 6,257 | 5,006 | |
Income (loss) before taxes and equity in earnings of affiliates | (939,202) | $ (813,935) | (2,972,462) | $ (2,300,243) | |
Total assets | $ 1,369,098 | $ 1,369,098 | $ 923,658 |
Note 11 - Segment and Geograp_5
Note 11 - Segment and Geographic Data - Summary of Operations by Geographic Area (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Product sales, net | $ 2,108,233 | $ 1,246,110 | $ 7,458,678 | $ 3,225,170 |
Dental Segment [Member] | ||||
Product sales, net | 2,076,233 | 1,240,110 | 7,334,628 | 3,209,370 |
Medical Segment [Member] | ||||
Product sales, net | 32,000 | 6,000 | 124,050 | 15,800 |
Domestic [Member] | ||||
Product sales, net | 790,382 | 408,129 | 2,788,083 | 1,067,133 |
Domestic [Member] | Dental Segment [Member] | ||||
Product sales, net | 778,882 | 408,129 | 2,768,433 | 1,065,133 |
Domestic [Member] | Medical Segment [Member] | ||||
Product sales, net | 11,500 | 0 | 19,650 | 2,000 |
Domestic [Member] | Instruments [Member] | ||||
Product sales, net | 36,480 | 34,657 | 391,250 | 35,181 |
Domestic [Member] | Instruments [Member] | Dental Segment [Member] | ||||
Product sales, net | 36,480 | 34,657 | 391,250 | 35,181 |
Domestic [Member] | Instruments [Member] | Medical Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | 0 |
Domestic [Member] | Handpieces [Member] | ||||
Product sales, net | 732,649 | 356,566 | 2,338,699 | 994,057 |
Domestic [Member] | Handpieces [Member] | Dental Segment [Member] | ||||
Product sales, net | 721,149 | 356,566 | 2,319,049 | 992,057 |
Domestic [Member] | Handpieces [Member] | Medical Segment [Member] | ||||
Product sales, net | 11,500 | 0 | 19,650 | 2,000 |
Domestic [Member] | Accessories [Member] | ||||
Product sales, net | 21,253 | 16,906 | 58,134 | 37,895 |
Domestic [Member] | Accessories [Member] | Dental Segment [Member] | ||||
Product sales, net | 21,253 | 16,906 | 58,134 | 37,895 |
Domestic [Member] | Accessories [Member] | Medical Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | |
Rest of World [Member] | Instruments [Member] | ||||
Product sales, net | 257,563 | 220,694 | 855,403 | 502,598 |
Rest of World [Member] | Instruments [Member] | Dental Segment [Member] | ||||
Product sales, net | 253,063 | 220,694 | 792,903 | 494,998 |
Rest of World [Member] | Instruments [Member] | Medical Segment [Member] | ||||
Product sales, net | 4,500 | 0 | 62,500 | 7,600 |
Rest of World [Member] | Handpieces [Member] | ||||
Product sales, net | 690,133 | 608,000 | 2,379,592 | 1,624,724 |
Rest of World [Member] | Handpieces [Member] | Dental Segment [Member] | ||||
Product sales, net | 674,133 | 602,000 | 2,337,692 | 1,618,524 |
Rest of World [Member] | Handpieces [Member] | Medical Segment [Member] | ||||
Product sales, net | 16,000 | 6,000 | 41,900 | 6,200 |
Rest of World [Member] | Accessories [Member] | ||||
Product sales, net | 9,300 | 9,287 | 42,409 | 30,715 |
Rest of World [Member] | Accessories [Member] | Dental Segment [Member] | ||||
Product sales, net | 9,300 | 9,287 | 42,409 | 30,715 |
Rest of World [Member] | Accessories [Member] | Medical Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | |
International [Member] | ||||
Product sales, net | 956,996 | 837,981 | 3,277,404 | 2,158,037 |
International [Member] | Dental Segment [Member] | ||||
Product sales, net | 936,496 | 831,981 | 3,173,004 | 2,144,237 |
International [Member] | Medical Segment [Member] | ||||
Product sales, net | 20,500 | 6,000 | 104,400 | 13,800 |
CHINA | ||||
Product sales, net | 360,855 | 0 | 1,393,191 | 0 |
CHINA | Dental Segment [Member] | ||||
Product sales, net | 360,855 | 0 | 1,393,191 | 0 |
CHINA | Medical Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | 0 |
CHINA | Instruments [Member] | ||||
Product sales, net | 0 | 0 | 228,000 | 0 |
CHINA | Instruments [Member] | Dental Segment [Member] | ||||
Product sales, net | 0 | 0 | 228,000 | 0 |
CHINA | Instruments [Member] | Medical Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | 0 |
CHINA | Handpieces [Member] | ||||
Product sales, net | 360,855 | 0 | 1,165,191 | 0 |
CHINA | Handpieces [Member] | Dental Segment [Member] | ||||
Product sales, net | 360,855 | 0 | 1,165,191 | 0 |
CHINA | Handpieces [Member] | Medical Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | 0 |
CHINA | Accessories [Member] | ||||
Product sales, net | 0 | 0 | 0 | 0 |
CHINA | Accessories [Member] | Dental Segment [Member] | ||||
Product sales, net | 0 | 0 | 0 | 0 |
CHINA | Accessories [Member] | Medical Segment [Member] | ||||
Product sales, net | $ 0 | $ 0 | $ 0 | $ 0 |
Note 12 - Concentrations (Detai
Note 12 - Concentrations (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue Benchmark [Member] | Domestic Distributor [Member] | |||
Concentration Risk, Percentage | 38.00% | 38.00% | 33.00% |
Revenue Benchmark [Member] | International Distributor [Member] | |||
Concentration Risk, Percentage | 62.00% | 62.00% | 67.00% |
Accounts Receivable [Member] | Domestic Distributor [Member] | |||
Concentration Risk, Percentage | 32.00% | 69.00% | |
Accounts Receivable [Member] | International Distributor [Member] | |||
Concentration Risk, Percentage | 68.00% |
Note 13 - Related Party Trans_2
Note 13 - Related Party Transactions (Details Textual) - USD ($) | Apr. 30, 2020 | Apr. 29, 2020 | Jul. 10, 2017 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Mar. 02, 2021 | Mar. 01, 2021 |
Interim Chief Executive Officer [Member] | ||||||||||
Royalty on Net Sales, Percentage | 2.50% | |||||||||
Director Clinical Affair [Member] | ||||||||||
Royalty on Net Sales, Percentage | 2.50% | 5.00% | ||||||||
Director [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 30,000 | $ 275,000 | ||||||||
Consultant [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 15,000 | 45,000 | ||||||||
Increase (Decrease) in Deferred Compensation | $ (100,000) | |||||||||
Employment Agreement, Base Compensation | 200,000 | |||||||||
Director of Clinical Affairs [Member] | ||||||||||
Royalty Expense | 74,000 | $ 61,000 | 322,000 | $ 158,000 | ||||||
Professional Fees | 39,000 | 39,000 | 117,000 | 117,000 | ||||||
Accounts Payable, Related Parties | 103,000 | 103,000 | 127,000 | |||||||
Previous President and Chief Executive Officer [Member] | ||||||||||
Increase (Decrease) in Deferred Compensation | (100,000) | |||||||||
Employment Agreement, Base Compensation | $ 200,000 | |||||||||
Manufacturing Agreement for Handpieces [Member] | ||||||||||
Related Party Transaction, Purchases from Related Party | $ 370,260 | $ 370,260 | 417,000 | 373,000 | 1,300,000 | 1,200,000 | ||||
Manufacturing Agreement for Handpieces [Member] | Accounts Payable, Related Parties, Current [Member] | ||||||||||
Due to Related Parties, Current, Total | 417,000 | 417,000 | $ 362,000 | |||||||
Consulting Services [Member] | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 25,000 | 25,000 | $ 75,000 | 75,000 | ||||||
Consulting Services [Member] | Innovest S.p.A. [Member] | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 20,000 | $ 60,000 |
Note 14 - Commitments (Details
Note 14 - Commitments (Details Textual) | Jul. 10, 2017USD ($) | Jan. 01, 2005 | Aug. 31, 2019USD ($) | Jun. 30, 2015USD ($)ft² | Sep. 30, 2021USD ($) | Mar. 02, 2021 | Mar. 01, 2021 | Dec. 31, 2020USD ($) |
Advances on Inventory Purchases | $ 1,509,530 | $ 414,202 | ||||||
Operating Lease, Right-of-Use Asset | 571,678 | 632,453 | ||||||
Operating Lease, Liability, Total | 576,408 | 630,012 | ||||||
Operating Lease, Liability, Current | 78,476 | 72,031 | ||||||
Operating Lease, Liability, Noncurrent | 497,932 | 557,981 | ||||||
Finance Lease, Liability, Total | 30,624 | 36,403 | ||||||
Finance Lease, Liability, Current | 8,351 | 7,796 | ||||||
Finance Lease, Liability, Noncurrent | $ 22,273 | $ 28,607 | ||||||
Additional Percentage of Director Compensation on Sales Value Using Certain Specify Technology | 2.50% | |||||||
Additional Percentage of Director Compensation Sales Value Using Other Kind of Technology | 5.00% | |||||||
Previous President and Chief Executive Officer [Member] | ||||||||
Increase (Decrease) in Deferred Compensation | $ (100,000) | |||||||
Employment Agreement, Base Compensation | 200,000 | |||||||
Consultant [Member] | ||||||||
Increase (Decrease) in Deferred Compensation | (100,000) | |||||||
Employment Agreement, Base Compensation | $ 200,000 | |||||||
Interim Chief Executive Officer [Member] | ||||||||
Royalty on Net Sales, Percentage | 2.50% | |||||||
Director Clinical Affair [Member] | ||||||||
Royalty on Net Sales, Percentage | 2.50% | 5.00% | ||||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | ||||||||
Area of Rentable Space (Square Foot) | ft² | 774 | |||||||
Operating Leases, Monthly Rent Expense | $ 12,522 | |||||||
Lessee, Operating Lease, Electric Charge Per Square Foot | $ 2 | |||||||
Lessee, Operating Lease, Electric Payments, Annually | 11,130 | |||||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | Minimum [Member] | ||||||||
Operating Leases, Monthly Rent Expense | 9,275 | |||||||
Office Lease for Headquarter in Livingston, New Jersey [Member] | Maximum [Member] | ||||||||
Operating Leases, Monthly Rent Expense | $ 10,898 | |||||||
Purchase Commitment for Devices [Member] | ||||||||
Purchase Commitment Number Of Units | 2,000 | |||||||
Purchase Commitment, Remaining Minimum Amount Committed | $ 2,900,000 | |||||||
Advances on Inventory Purchases | 1,500,000 | |||||||
Purchase Commitment For Devices Beginning In 2021 [Member] | ||||||||
Purchase Commitment, Remaining Minimum Amount Committed | 98,902 | |||||||
Advances on Inventory Purchases | $ 38,257 |
Note 14 - Commitments - Lease E
Note 14 - Commitments - Lease Expense (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Cash paid for operating lease liabilities | $ 31,882 | $ 30,820 | $ 95,645 | $ 78,904 | |
Cash paid for finance lease liabilities | 2,658 | 2,685 | 8,055 | 76,622 | |
Right-of-use assets obtained in exchange for new operating lease liabilities (1) | [1] | 0 | 0 | 0 | (663,009) |
Property and equipment obtained in exchange for new finance lease liabilities | $ 0 | $ 0 | $ 0 | $ (43,242) | |
Weighted-average remaining lease term - operating leases (years) (Year) | 5 years 6 months | 6 years 6 months | 5 years 6 months | 6 years 6 months | |
Weighted-average remaining lease term- finance leases (years) (Year) | 3 years 3 months 18 days | 4 years 3 months 18 days | 3 years 3 months 18 days | 4 years 3 months 18 days | |
[1] | For the nine months ended September 30, 2021, the balance includes operating leases existing as of the adoption of ASC 842 on January 1, 2021 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details Textual) - Managing Director, China Operations [Member] - Subsequent Event [Member] - Stock Option Plan 2016 [Member] | Nov. 09, 2021$ / sharesshares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | shares | 171,429 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.93 |