Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 12

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
 2024 respectively.
The calculation of diluted earnings per common share is like that of basic earnings per common share, except that the denominator is
increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common
shares, such as those issuable upon the exercise of stock options, were issued during the period. Since Milestone Scientific had net
losses in the nine months ended September 30, 2025 and 2024, the assumed effects of the exercise of potentially dilutive outstanding
stock options, unissued restricted stock awards (“RSA”), and convertible notes payable, related parties, were not included
in the calculation as their effect would have been anti-dilutive. Such outstanding options, convertible notes payable, and RSAs totaled
8,357,969 and 3,684,697 for the nine months ended September 30, 2025, and 2024, respectively.

10. Recent
Accounting Pronouncements

Recently
Issued Accounting Pronouncement

In
November 2024, the Financial Accounting Standards Board, “FASB”, issued Accounting Standards Update “ASU” 2024-03,
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40),
to improve the disaggregation of expenses within the consolidated statement of operations. The amendments in ASU 2024-03 require
disclosures, in the notes to the consolidated financial statements, specified information about certain costs and expenses. The amendments
require that at each interim and annual reporting period an entity disclose (a) employee compensation, (b) depreciation, and (c) intangible
asset amortization included in each relevant expense caption; include specific amounts that are already required to be disclosed under
current generally accepted accounting principles (GAAP) in the same disclosure as the other disaggregation requirements; and disclose
a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
The amendments in ASU 2024-03 are effective January 1, 2027, and effective for interim periods beginning January 1, 2028. Early adoption
is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company will evaluate
the impact of ASU 2024-03 on its consolidated financial statements.

In December 2023, FASB issued ASU 2023-09, Income