Company: MLSS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017171
Chunk: 9

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 9
---
 issued to non-employees, that will be issued to non-employees for services rendered. The number of shares was fixed by contract prior to the date of grant, subject to performance, and were fully earned upon the grant date.

The following table summarizes information about shares to be issued for the threemonth periods endingMarch 31, 2025and2024.

                                                                               March 31, 2025                     March 31, 2024                 
  Shares-to-be-issued, outstanding January 1, 2025 and 2024, respectively                          3,393,017                          3,098,917  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Granted in current period                                                                          315,646                            438,868  
  Issued in current period                                                                                 -                           ( 30,167  
  Shares-to be issued outstanding March 31, 2025 and 2024, respectively                            3,708,663                          3,507,618  

NOTE 7 - STOCK OPTION PLANS

The Milestone Scientific Inc., Amended and Restated2020Equity Incentive Plan, provides for awards of restricted common, stock restricted stock units, options to purchase and other awards. On June28,2023the plan was amended and restated (the"2020Plan") to increase the maximum shares that can be issued thereunder to11,500,000shares of common stock. The plan expires in June 2031. Options maybe granted to employees, directors, and consultants of Milestone Scientific for the purchase of shares of common stock at a price notless than the fair market value of common stock on the date of grant. Generally, options become exercisable over a three-year period from the grant date and expire fiveyears after the date of grant.

Milestone Scientific recognizes compensation expenses over the requisite service period and in the case of performance-based options over the period of the expected performance. For the threemonths endedMarch 31, 2025, and2024, Milestone Scientific recognized approximately $171,000and $175,000of total employee compensation cost, respectively, recorded in general and administrative expenses on the statement of operations.

As ofMarch 31, 2025, there was $0.7million of total unrecognized compensation cost related to non-vested options. Milestone Scientific expects to recognize these costs over a weighted average period of1.0years.

There werenoo