Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 19

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 of expense related to non-employee options.

The
Company used the following assumptions to calculate the fair value of the stock option grants using the Black-Scholes option pricing
model on the measurement date during the nine month period ended September 30, 2025 risk free interest rate of 1%
, Volatility of 85.79%-86.29%
(which is based on the Company’s historical volatility over the expected term), expected term of 5
years, 0%
dividend rate and closing price of the stock of $0.93-$0.94.

A
summary of the restricted stock under the plans and changes during the nine months ended September 30, 2025 is presented
below:

 SCHEDULE
OF RESTRICTED STOCK

    Number of Shares  
    Weighted Average Grant-Date Fair Value per Award 
  
    Non-vested as January 1, 2025 
     365,171  
     0.89 
  
    Granted 
     -  
     - 
  
    Vested 
     (337,081) 
     0.89 
  
    Cancelled 
     (28,090) 
     0.89 
  
    Non-vested as September 30, 2025 
     -  
     - 

The
Company granted 730,340 restricted stock awards with a fair market value of $0.89 per share. Such restricted
stock vests as follows: 25% on the grant date in June 2024, and 25% quarterly, on the first day of
the following months: October 2024, January 2025, and April 2025. These awards vest immediately upon a
change of control as defined in the agreements. For the nine months ended September 30, 2025, the Company
recognized approximately $0 and $155,500, respectively, for restricted stock expenses recorded in general and administrative expenses
on the statement of operations. As of September 30, 2025, there was no unrecognized compensation expense.

NOTE
9 — INCOME TAXES

The
utilization of Milestone Scientific’s net operating losses may be subject to a substantial limitation due to the “change of ownership