Company: MLSS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017171
Chunk: 15

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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5, and2024, respectively. Mr. Osser also owns2,717,765of the Company's stock, and2,481,048shares to be issued at the termination of his employment agreement

Dr. D. Demesmin, Director

As ofFebruary 2024, the University Pain Medicine Center (STEMMEE), of which Dr. D. Demesmin, a Company board member is the CEO agreed to purchases products from the Company under the same terms and conditions applying to other medical pain clinics in the United States. STEMMEE purchased medical products in the amount of $6,000and3,000for the threemonths endedMarch 31, 2025, and2024respectively

Arjan J. Haverhals, Director

The Company entered into a consulting agreement with Mr. Arjan Haverhals, which commenced onJanuary 1, 2025, and continues for an indefinite period, subject to the Company having the right to terminate the Consulting Agreement on30days advance notice in the event of his disability to provide services and either party having the right to terminate the Consulting Agreement on90days’ advance notice. Mr. Haverhals will be paid an annual fee at the rate of $350,000, at the at the rate of $150,000in respect of the firstcalendar quarter of2025, and at the rate of$66,666in respect of each subsequent calendar quarter of2025, payable monthly in arrears, in each case in equal monthly installments on the last day of each month of such quarter.

The Company will reimburse Mr. Haverhals for reasonable expenses in providing the services. Mr. Haverhals will be an independent contractor and will notbe provided with health and accident insurance, life insurance, paid sick leave and/or paid vacation time. In connection with the Consulting Agreement, he has also entered into a Company-standard form of non-disclosure, non-solicitation, non-competition and invention agreement. Mr. Haverhals continues as a director of the Company and as a director of Milestone Scientific. Compensation under the Consulting Agreement was approximately $150,000for threemonths ended March 31, 2025. Mr. Haverhals will be issued912,736shares of the Company's stock sixmonths after his resignation as CEO and in accordance with such consulting agreement.

April 2025

OnApril 9, 2025, the Company