Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 28

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 from this supplier were approximately
$881,000 and $1.7 million for the three and nine months ended September 30, 2025. Purchases from this supplier were approximately
$501,000 and $1.7 million for the three and nine months ended September 30, 2024.

As
of September 30, 2025, and December 31, 2024, Milestone Scientific owed this supplier approximately $1.0
million and $663,000,
respectively, which is included in accounts payable and accrued expenses related party on the unaudited condensed consolidated
balance sheets. 

Director
of Clinical Affairs

The
Director of Clinical Affairs’ royalty fee was approximately $119,000
and $351,000
for the three and nine months ended September 30, 2025, respectively. The Director of Clinical Affairs’ royalty fee was
approximately $124,000
and $334,000
for the three and nine months ended September 30, 2024, respectively. Additionally, Milestone Scientific expensed consulting fees to
the Director of Clinical Affairs of $25,000,
and $103,000
for the three and nine months ended September 30, 2025 and $39,000 and $117,000 for the three and nine months ended September 30
2024, respectively. As of September 30, 2025 and December 31, 2024, Milestone Scientific owed the Director Clinical Affairs for
royalties of approximately $244,000
and $110,000,
respectively, which is included in accounts payable, related party and accrued expense, related party, in the unaudited condensed
consolidated balance sheets.

Directors

Leonard
Osser

On
March 2, 2021, the Company entered into a Royalty Sharing Agreement with Leonard Osser, pursuant to which Mr. Osser sold, transferred
and assigned to the Company all of his rights in and to a certain patent application as to which he is a co-inventor with Mark Hochman,
a consultant to the Company, and the Company agreed to pay to Mr. Osser, beginning May 9, 2027, half of the royalty (2.5%) on net sales
that would otherwise be payable to Mark and Claudia Hochman under their existing Technology Sale Agreement, dated January 1, 2005 and
amended from time to time