Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 73

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 73
---

10% of net product sales. For the nine months ended September 30, 2024, E-Commerce
accounted for 53% of net product sales and one international distributor accounted for 10% of net
product sales

The Company
had three distributors that accounted for 28%, 14%, 14% of accounts receivable, respectively, for nine months ended September
30, 2025. The Company had three distributors that accounted for 22%, 13% and 11% of accounts receivable, respectively as of
December 31, 2024. 

As
of September 30, 2025, the Company had three suppliers that accounted for 33%, 24% and 19%, respectively, of accounts payable and
accounts payable, related party. The Company had two suppliers that accounted for 31% and 30%, respectively of accounts
payable and accounts payable, related party as of December 31, 2024.

NOTE
12 -- RELATED PARTY TRANSACTIONS

United
Systems

Milestone
Scientific has a supply agreement with United Systems, the principal supplier of its handpieces, pursuant to which it procures manufactured
products under specific purchase orders, but without minimum purchase commitments. Purchases 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