Company: MLSS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026919
Chunk: 19

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 periods. Renewal option periods are not included in the determination of the lease terms as they were not reasonably certain to be exercised.  

The components of lease expense were as follows:

                                                         Three months ended                              Six months ended                                             
                                                         June 30, 2025                                   June 30, 2025                     June 30, 2024              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash paid for operating lease liabilities              $                       31,882      33,290      $                     63,764      $                  65,272  
  Cash paid for finance lease liabilities                                         3,417       2,685                             6,834                          5,370  
  Weighted Average Remaining Lease Term                                                                                                                               
  Finance leases (years)                                                                                 4.50 years                        0.55 years                 
  Operating leases (years)                                                                               1.75 years                        2.75 years                 
  Weighted-average discount rate – operating leases                                                                              9.20                           9.20  
  Weighted-average discount rate – finance leases                                                                                0.00                           9.20  

NOTE 14 - SUBSEQUENT EVENTS

EffectiveJuly 31, 2025, the Board of Directors of Milestone Scientific Inc. (the “ Company”) appointed Eric Hines as President and Chief Executive Officer, and as a director of the Company. FromJuly 31, 2025throughDecember 31, 2025 (the “ Initial Term”), Mr. Hines will be entitled to base compensation at the rate of$15,000per month. FromJanuary 1, 2026, subject to Mr. Hines’s continued employment at the Company by mutual agreement (the “ Extended Term”), Mr. Hines will be entitled to base compensation at the rate of $25,000per month. In addition to his base compensation, Mr. Hines will be granted options (the “ Signing Bonus Options”) for an aggregate of2,000,000shares of Common Stock of the Company. The exercise price of the Signing Bonus Options will be the fair market value of shares of Common Stock of the Company on the date of grant. Ten percent (10%) of the Signing Bonus Options will vest on the date of grant and the remaining ninetypercent (90%) will
vest in three(3) equal annual installments of600,000shares each. In addition, it is expected that Mr.