Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 59

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 evaluating the impact of the adoption of
the ASU 2023-09 on its consolidated financial statements.

     12 

Recently Adopted Accounting Pronouncement

In November 2023, FASB issued ASU 2023-07, Segment
Reporting (Topic 280), Improvements to Reportable Segment Disclosures, which provides improvements to reportable segment disclosure
requirements, primarily through enhanced disclosures around segment expenses. ASU 2023-07 requires us to disclose significant segment
expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure
of segment profit or loss. ASU 2023-07 also requires that the Company disclose an amount for other segment items by reportable segment,
a description of their composition and provide all annual disclosures about a reportable segment’s profit or loss and assets pursuant
to Topic 280 during interim periods. The Company must also disclose the CODM’s title and position, as well as specific information
around the measures used by the CODM and an explanation of how the CODM uses the reported measures in assessing segment performance and
deciding how to allocate resources. Public entities with a single reportable segment must provide all the disclosures required pursuant
to ASU 2023-07 and all existing segment disclosures under Topic 280. The amendments of ASU 2023-07 are effective for us for annual periods
beginning January 1, 2024, and effective for interim periods beginning January 1, 2025. Early adoption is permitted for annual financial
statements that have not yet been issued or made available for issuance. As of January 1, 2024, the Company adopted ASU 2023-07 within
its consolidated financial statements. See Note 10 for more information.

NOTE
4 — INVENTORIES 

Inventories
consist of the following:

 SCHEDULE OF INVENTORIES

    September 30, 2025  
    December 31, 2024 

    Dental finished goods 
    $3,921,747  
    $3,640,391 
  
    Medical finished goods 
     120,721  
     - 
  
    Inventories finished goods 
     120,721  
     - 

    Component parts and other materials 
     84,520  
     72,824 
  
    Total inventories 
    $4,126,988