Company: MLSS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026919
Chunk: 2

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 (FDA) on the CompuFlo® Epidural Computer Controlled Anesthesia System (“ Epidural”).

NOTE 2

Our financial statements have been prepared in conformity with generally accepted accounting principles which contemplate continuation of the Company on a going concern basis. The going concern basis assumes that assets are realized, and liabilities are extinguished in the ordinary course of business at amounts disclosed in the unaudited condensed financial statements.

The Company has incurred total losses since the inception of $131.5million. The Company’s operating losses were approximately $1.5million and $3.5million, for the threeand sixmonths endingJune 30 2025, respectively. OnJune 30, 2025, Milestone Scientific had cash and cash equivalents of approximately $1.3million and working capital of approximately $3.9million. For the sixmonths endingJune 30, 2025and2024, we had cash flows used in operating activities of approximately $2.8million and $0.4million, respectively.

Based on our available cash and cash equivalents, recurring losses, accumulated deficit and the need to raise additional capital to finance operations, including proceeds received from the note financing received inApril 2025, as ofJune 30, 2025, we have concluded that there is substantial doubt about our ability to continue as a going concern for a period of oneyear from the date that these unaudited condensed financial statements are issued.

We will seek additional funding through equity financings or debt financings to support our current operating plan. Although management intends to pursue plans to obtain additional funding to finance its operations, and we have successfully raised capital in the past, we may notbe able to obtain financing on acceptable terms, or at all. The terms of any financing mayadversely affect the holdings or rights of the Company’s stockholders.

We are actively pursuing the generation of positive cash flows from operating activities through an increase in revenue from its dental business worldwide, the generation of revenue from its medical devices and disposables business in the United States and worldwide, and a reduction in operating expenses. However, our continued operations will depend on its ability to raise additional capital through various potential sources until it achieves profitability, if ever.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), and the applicable rules and regulations of the Securities and