Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 53

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 nine months ended September 30, 2025, respectively. As of September 30, 2025, The Company had
cash and cash equivalents of approximately $1.3
million and working capital of approximately $3.1
million. For the nine months ended September 30, 2025, and 2024, cash flows used in operating activities were approximately $2.7
million and $1.4
million, respectively.

Based
on our available cash and cash equivalents, recurring losses, accumulated deficit and the need to raise additional capital to finance
operations, as of September 30, 2025, we have concluded that
there is substantial doubt about our ability to continue as a going concern for a period of one year from the date that these unaudited
condensed financial statements are issued.

We
will seek additional funding through equity financings or debt financings to support our current operating plan. Although management
intends to pursue plans to obtain additional funding to finance its operations, and we have successfully raised capital in the past,
we may not be able to obtain financing on acceptable terms, or at all. The terms of any financing may adversely affect the holdings or
rights of the Company’s stockholders.

We
are actively pursuing the generation of positive cash flows from operating activities through an increase in revenue from its dental
business worldwide, the generation of revenue from its medical devices and disposables business in the United States and worldwide, and
a reduction in operating expenses. However, our continued operations will depend on its ability to raise additional capital through various
potential sources until it achieves profitability, if ever. 

     9 

NOTE
3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 

1.
Principles of Consolidation

The
accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles
generally accepted in the United States (“GAAP”). The applicable rules and regulations of the Securities and Exchange
Commission (SEC) include the accounts of Milestone Scientific and its wholly owned subsidiaries, including Wand Dental (wholly
owned) and Milestone Innovations Inc. (wholly owned).  All significant intra-entity transactions and balances have been eliminated
in the consolidation.

2.
Basis of Presentation

The
unaudited condensed consolidated financial statements of Milestone Scientific have been prepared in accordance with accounting principles
generally accepted in the United States of America (GA