Company: MLSS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017171
Chunk: 8

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 2024, and effective for interim periods beginning January 1, 2025. Early adoption is permitted for annual financial statements that have notyet been issued or made available for issuance. As of January 1, 2024, the Company adopted ASU2023-07on within consolidated financial statements. See Note9for more information.

NOTE 4 - INVENTORIES

Inventories consist of the following:

                                           March 31, 2025                     December 31, 2024                 
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Dental finished goods                    $                   4,053,755      $                      3,640,391  
  Component parts and other materials                            105,741                                72,824  
  Total inventories                        $                   4,159,496      $                      3,713,215  

The Company had an allowance on slow moving Medical finished goods due to the slow adoption of the epidural instruments and handpieces for approximately $1.1million as ofMarch 31, 2025, andDecember 31, 2024, respectively.

NOTE 5 - ADVANCES ON CONTRACTS

The advances on contracts represent funding of future STA devices, epidural instruments, and epidural replacements parts. The balance of the advances as ofMarch 31, 2025andDecember 31, 2024is approximately $1.0million and $1.3million, respectively. The advance is classified as current based on the estimated annual usage of the underlying inventory.

NOTE6 STOCKHOLDERS EQUITY

PUBLIC OFFERING

OnJanuary 12, 2024the underwriter exercised its over-allotment option as to372,110shares of common stock for net proceeds after discounts and commission of $192,156.

WARRANTS

As ofMarch 31, 2025, the Company had nooutstanding warrants.

SHARES TO BE ISSUED

As ofMarch 31, 2025and2024, there were3,076,871and2,979,994, respectively, shares to be issued whose issuance has been deferred under the terms of employment and consulting agreements with officers and directors and other employees of Milestone Scientific. Such shares will be issued to each party upon termination of their employment or other relationship with the Company.

As ofMarch 31, 2025and2024, there were631,792and527,624, respectively, shares to be