Document:

EXHIBIT C

                            ARTICLES OF ORGANIZATION
                                       FOR
                             TINTIC UTAH METALS LLC

         The undersigned natural person who is over the age of eighteen (18)
years, acting as organizer of a limited liability company, organized and created
under the provisions of the Colorado Limited Liability Company Act, hereby
adopts the following Articles of Organization for said limited liability
company.

         ARTICLE 1. NAME: The name of the limited liability company is Tintic
Utah Metals LLC. Any reference in these Articles of Organization to "the
Company" is to such limited liability company.

         ARTICLE 2. PRINCIPAL PLACE OF BUSINESS: The Company's principal place
of business is at 15988 Silver Pass Road, Eureka, Utah 84628.

         ARTICLE 3. REGISTERED AGENT: The name and business address of the
Company's registered agent in Colorado for service of process is CT Corporation
System, 1675 Broadway, Denver, CO 80202.

         ARTICLE 4. MANAGEMENT: The management of the Company is vested in its
Members. The names and addresses of the Company's initial members are:

Akiko Resources (Utah) Inc.
1800 Glenarm Place, Suite 210
Denver, Colorado 80202

Chief Consolidated Mining Company
866 Second Avenue
New York, New York 10017

KZ Utah, Inc.
32 Loockerman Square
Dover, Delaware 19901

         IN WITNESS WHEREOF, I have signed these Articles of Organization this
29th day of July, 1996, and I acknowledge the same to be my true act and deed.

         /s/ James M. King
         --------------------------------
         James M. King, Organizer
         1801 California St., Suite 3600
         Denver, Colorado 80202

<PAGE>

STATE OF COLORADO        )
                         )SS.
CITY AND COUNTY OF DENVER)

         The foregoing Articles of Organization were signed and sworn to by
James M. King, as Organizer, who affirmed, under penalty of perjury, that the
facts stated herein are true, on this 29th day of July, 1996.

         Witness by hand and official Seal.

                                                  /s/ Sandra L. Wainer
                                                  ---------------------------
                                                  Notary Public

  **NOTARY PUBLIC SEAL**

                                                  Address: 1801 California #3600
                                                           Denver, CO 80202

  My commission expires: Dec. 5, 1998
                        -------------Exhibit 4.25

                      AMENDMENT TO LINE OF CREDIT AGREEMENT

      AMENDMENT, dated July 30, 2001, (the "Amendment") by and between Milestone
Scientific Inc., a Delaware corporation, having its principal offices at 220
South Orange Avenue, Livingston, New Jersey 07039 (the "Company"), and K. Tucker
Andersen (the "Lender"), having an address c/o Cumberland Associates LLC, 1114
Avenue of the Americas, New York, NY 10036.

      For good and valuable consideration, the sufficiency of which is hereby
acknowledged, the undersigned hereby agree to the following amendments to the
Line of Credit Agreement, dated March 9, 2001, by and between the Company and
the Lender (the "Agreement"):

      A. The Agreement is hereby amended by striking Paragraph 1.4 thereof and
replacing said paragraph with the following new Paragraph 1.4:

            1.4 Upon the deposit of the Andersen Check in accordance with
      Paragraph 1.3, the Company shall have the right to withdraw from the
      Andersen Account such funds as from time to time may be needed by the
      Company in its discretion.

      B. The Agreement is hereby amended further by striking Paragraph 4.9
thereof and replacing said paragraph with the following new Paragraph 4.9:

            4.9 Use of Proceeds. Borrowings under Paragraph 1.4 of this
      Agreement will be used for general corporate purposes.

      C. Except as otherwise provided herein, the Agreement, the 10% Promissory
Note and Warrant issued thereunder, and the Registration Rights Agreement by and
between the Company and the Lender, dated March 9, 2001, shall continue
unchanged and in full force and effect.

            IN WITNESS WHEREOF, the undersigned have caused this Amendment to be
executed as of the date first above written.

                                             MILESTONE SCIENTIFIC INC.

                                                By: s/ Leonard Osser
                                                   -----------------------------
                                                Leonard Osser, Chairman and
                                                Chief Executive Officer

                                                s/ K. TUCKER ANDERSEN
                                                --------------------------------
                                                K. TUCKER ANDERSEN

                                       2Exhibit 4.26

                               PURCHASE AGREEMENT

      PURCHASE AGREEMENT (this "Agreement") is made as of October 4, 2001
between MILESTONE SCIENTIFIC INC., a Delaware corporation, with its principal
offices at 220 South Orange Avenue, Livingston, New Jersey 07039 (the
"Company"), and K. Tucker Andersen having an address c/o Cumberland Associates
LLC, 1114 Avenue of the Americas, New York, New York 10036 (the "Purchaser").

      WHEREAS, the Company desires to sell to Purchaser and Purchaser desires to
purchase from the Company $75,000 face amount of its 10% Convertible Promissory
Notes (the "Notes"), substantially in the form annexed hereto as Exhibit A.

      NOW, THEREFORE, in consideration of the premises and the covenants herein
contained, the parties hereto agree as follows:

      1. Purchase and Sale of Notes.

            (a) Subject to the terms and conditions hereinafter set forth,
Purchaser hereby subscribes for and agrees to purchase from the Company the
Notes.

            (b) The purchase price for the Notes shall be $75,000 (the "Purchase
Price"). The Purchase Price is payable by check made payable to the Company or
by wire transfer of funds, contemporaneously with the execution and delivery of
this Agreement. The Notes being purchased by Purchaser will be delivered by the
Company on the Closing Date (as defined below).

      2. Terms of the Notes. Except as otherwise set forth in this Agreement,
the terms of the Notes, shall be as set forth in the Notes.

      3. Closing. The closing of the transactions contemplated hereby
("Closing") shall take place on a date (the "Closing Date") within three (3)
business days following the satisfaction of the conditions set forth herein and
at such times as shall be determined by the Company at the offices of Morse,
Zelnick, Rose & Lander, LLP, 450 Park Avenue, New York, New York 10022.

      4. Representations and Warranties of the Company. The Company hereby
represents and warrants to Purchaser, which representations and warranties shall
be true and correct as of the date hereof and as of the Closing Date, as
follows:

            4.1 Organization; Standing and Power. The Company and its
      subsidiaries (a) are corporations duly organized, existing and in good
      standing under the laws of the state of their incorporation, (b) have all
      requisite corporate power and authority to own its properties and to carry
      on their businesses as now conducted and as proposed hereafter to

<PAGE>

      be conducted, (c) are duly qualified to do business as foreign
      corporations in each and every jurisdiction where such qualification is
      necessary except where the failure to so qualify would not have a material
      adverse effect on the financial condition, business, operations, assets or
      prospects of the Company and its subsidiaries as a whole and (d) the
      Company has all requisite corporate power and authority to execute and
      deliver, and perform all of its obligations under this Agreement.

            4.2 Authorization. The execution, delivery and performance by the
      Company of its obligations under this Agreement has been duly authorized
      by all requisite corporate action, and will not, either prior to or as a
      result of the consummation of the transactions contemplated by this
      Agreement: (a) violate any law, any order of any court or other agency of
      government, any provision of the Certificate of Incorporation or Bylaws of
      the Company or any contract, indenture, agreement or other instrument to
      which the Company is a party, or by which the Company or any of its assets
      or properties are bound, or (b) be in conflict with, result in a breach
      of, or constitute (after the giving of notice or lapse of time or both) a
      default under, or result in the creation or imposition of any lien of any
      nature whatsoever upon any of the property or assets of any Company
      pursuant to, or result in the acceleration of, any such contract,
      indenture, agreement or other instrument. The Company is not required to
      obtain any government approval, consent or authorization from, or to file
      any declaration or statement with, any governmental instrumentality or
      agency in connection with or as a condition to the execution, delivery or
      performance of any of this Agreement other than the filings which have
      heretofore been made. This Agreement is valid, binding and enforceable
      against the Company in accordance with its terms. When issued, the Notes
      will be the legal and binding obligations of the Company enforceable in
      accordance with their terms. The shares of Common Stock issuable in
      respect of interest payable on the Notes or upon conversion of the Notes
      have been duly authorized and reserved for issuance and, when issued, as
      applicable, will be fully paid and non-assessable, free and clear of any
      restrictions on transfer (other than any restrictions under the Securities
      Act of 1933, as amended (the "Securities Act") and state securities laws),
      taxes, security interests, options, warrants, purchase rights, contracts,
      commitments, equities, claims, and demands.

            4.3 Non-contravention. To the best of its knowledge, the Company is
      not in violation or breach of or in default with respect to, complying
      with any material provision of any contract, agreement, instrument, lease,
      license, arrangement or understanding to which it is a party, and each
      such contract, agreement, instrument, lease, license, arrangement and
      understanding is in full force and effect and is the legal, valid and
      binding obligation of the Company enforceable as to the Company in
      accordance with its terms (subject to applicable bankruptcy, insolvency
      and other laws affecting the enforceability of creditors' rights generally
      and to general equitable principals). Neither the execution and the
      delivery of this Agreement, nor the consummation of the transactions
      contemplated hereby, will (a) violate any constitution, statute,
      regulation, rule, injunction, judgment, order, decree, ruling, charge, or
      other restriction of any government, governmental agency, or court to
      which the Company is subject or (b) conflict with, result in a breach of,
      constitute a default under, result in the acceleration of,

                                       2
<PAGE>

      create in any party the right to accelerate, terminate, modify, or cancel,
      or require any notice under any agreement, contract, lease, license,
      instrument, or other arrangement to which the Company is a party or by
      which the Company is bound or to which any of the Company's assets are
      subject.

            4.4 Securities Law Exemption. Assuming the accuracy of Purchaser's
      representations and warranties set forth herein, the sale of the Notes
      pursuant to this Agreement has been made in accordance with the provisions
      and requirements of Regulation D ("Regulation D") or ss.4(6) under the
      Securities Act and any applicable state law.

            4.5 Use of Proceeds. The proceeds from the sale of the Notes will be
      used for working capital.

            4.6 No Other Representations. The Company shall not be deemed to
      have made any representations, warranties, covenants, agreements or
      indemnifications pertaining to the subject matter of this Agreement,
      whether express or implied, except to the extent that such
      representations, warranties, covenants, agreements or indemnifications are
      made in this Agreement or the Schedules hereto or in any certificate or
      other agreement, document or instrument delivered pursuant to the
      provisions of this Agreement.

      5. Representations and Warranties of the Purchasers. The Purchaser hereby
represents and warrants to the Company, which representations and warranties
shall be true and correct as of the date hereof and the Closing Date, as
follows:

            5.1 Authorization of Agreement. The execution, delivery and
      performance of this Agreement has been duly authorized by all necessary
      action on the part of Purchaser, does not violate any laws or regulations
      applicable to Purchaser and is the valid binding and enforceable
      obligation of Purchaser in accordance with its terms.

            5.2 Accredited Investor. Purchaser is an "accredited investor" as
      that term is defined in Rule 501(a) of the Securities Act, and the rules
      promulgated thereunder.

            5.3 Investment. Purchaser acknowledges that this offering of Notes
      have not been reviewed by the United States Securities and Exchange
      Commission ("SEC") and that the sale of the Notes pursuant hereto is
      intended to be a nonpublic offering pursuant to Sections 4(2), 4(6) or
      3(b) of the Securities Act. Purchaser represents that the Notes are being
      purchased for his own account, for investment and not for distribution or
      resale to others. Purchaser agrees that Purchaser will not sell or
      otherwise transfer the Notes or the shares of the Common Stock issuable in
      payment of interest on the Notes or upon conversion of the Notes, unless
      such securities, as the case may be, are registered under the Securities
      Act or unless an exemption from such registration is available. Purchaser
      understands that neither the Notes nor the shares of Common Stock issuable
      upon in payment of interest on the Notes nor the shares of Common Stock
      issuable upon

                                       3
<PAGE>

      conversion of the Notes have been registered under the Securities Act and
      they are or will be issued pursuant to a specific exemption from the
      registration provisions of the Securities Act which depends upon, among
      other things, the bona fide nature of the investment intent as expressed
      herein.

            5.4 Access to Data. Purchaser has been given copies of the SEC
      Filings and has had an opportunity to review same. Purchaser has had an
      opportunity to discuss the SEC Filings and the Company's business,
      management and financial affairs with the Company's management and the
      opportunity to review the Company's facilities, each to Purchaser's
      satisfaction. Purchaser understands that such discussions, as well as any
      written information issued or provided by the Company, were intended to
      describe the aspects of the Company's business and prospects which the
      Company believes to be material but were not necessarily a thorough or
      exhaustive description thereof.

            5.5 Speculative Nature of Investment. Purchaser acknowledges that
      the purchase of the Notes involves a high degree of risk and that (i) an
      investment in the Company is highly speculative and only investors who can
      afford the loss of their entire investment should consider investing in
      the Company and purchasing the Notes; (ii) Purchaser may not be able to
      liquidate his investment; (iii) transferability of the Notes and the
      shares of Common Stock issuable in payment of interest on the Notes and
      upon conversion of the Notes is extremely limited; and (iv) Purchaser
      could sustain the loss of his entire investment.

            5.6 Legends. Purchaser consents to the placement of a legend on the
      Notes and shares of Common Stock issued in payment of interest on the
      Notes and upon conversion of the Notes, provided they are not then covered
      by an effective Registration Statement, all as set forth in Section 6 of
      this Agreement.

            5.7 No Other Representations. Purchaser hereby represents that,
      except as set forth herein, no representations or warranties have been
      made to the Purchaser by the Company or any agent, employee or affiliate
      of the Company and in entering into this transaction, Purchaser is not
      relying on any information, other than that contained herein, that
      contained in the SEC Filings and the results of independent investigation
      by the Purchaser. The Purchaser shall not be deemed to have made any
      representations, warranties, covenants, agreements or indemnifications
      pertaining to the subject matter of this Agreement, whether express or
      implied, except to the extent that such representations, warranties,
      covenants, agreements or indemnifications are made in this Agreement or
      the Schedules hereto or in any certificate or other agreement, document or
      instrument delivered pursuant to the provisions of this Agreement.

            5.8 No Broker. There is no firm, corporation, agency or other entity
      or person that is entitled to a finder's fee or any type of commission in
      relation to or in connection with the transactions contemplated by this
      Agreement as a result of any agreement or understanding with Purchaser or
      any of its directors, officers, employees or agents.

                                       4
<PAGE>

            6. Legends. The Notes shall be endorsed with the following legend:

      THIS SECURITY HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT
      BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNTIL (I) A REGISTRATION
      STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") SHALL
      HAVE BECOME EFFECTIVE WITH RESPECT THERETO OR (II) RECEIPT BY THE COMPANY
      OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE
      EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED IN CONNECTION WITH
      SUCH PROPOSED TRANSFER NOR IS IN VIOLATION OF ANY APPLICABLE STATE
      SECURITIES LAWS. THIS LEGEND SHALL BE ENDORSED UPON ANY NOTE ISSUED IN
      EXCHANGE FOR THIS NOTE.

      THIS SECURITY IS SUBJECT TO THE TERMS OF A PURCHASE AGREEMENT, DATED AS OF
      OCTOBER 4, 2001, A COPY OF WHICH IS ON FILE AT THE EXECUTIVE OFFICES OF
      MILESTONE SCIENTIFIC INC.

      7. Registration Rights. The Company will use its reasonable best efforts
to file with the Securities and Exchange Commission no later than May 31, 2002,
and to cause to become effective, a registration statement under the Securities
Act of 1933, as amended (the "Securities Act") on Form S-3, and under any
applicable state securities laws, registering the reoffer, resale or other
disposition of the Shares.

      8. Confidentiality. Purchaser covenants and agrees that none of Purchaser,
his agents and representatives will use for their own benefit, convey or
disclose to any third party any information provided by the Company concerning
its current or proposed business, operations and financial conditions, other
than information which is already publicly available, was already known to
Purchaser or is obtained from a source other than the Company and to the extent
required by law.

      9. Affirmative Covenants. The Company covenants and agrees with the
Purchaser that, from the date hereof and until the Notes have been paid in full,
it shall:

                  9.1 Corporate. Do or cause to be done all things necessary to
            at all times (a) other than mergers solely among the Company and any
            of its subsidiaries, preserve, renew and keep in full force and
            effect its corporate existence, patents, trademarks, rights,
            licenses, permits and franchises, (b) comply with this Agreement,
            (c) maintain and preserve all of its material property used or
            useful in the conduct of their respective businesses, and (d) comply
            with all applicable laws material to its businesses, including the
            reporting requirements of the Securities Exchange Act of 1934,
            whether now in effect or hereafter enacted, promulgated or issued.

                                       5
<PAGE>

                  9.2 Notice of Proceedings. Give prompt written notice to the
            Purchaser of any proceeding instituted against the Company in any
            federal or state court or before any commission or other regulatory
            body, whether federal, state or local, which, if adversely
            determined, could have a material adverse effect upon their
            business, operations, properties, assets or condition, financial or
            otherwise when taken as a whole.

                  9.3 Books and Records; Inspection. Maintain true and accurate
            books and records respecting all of their business operations, and
            permit agents or representatives of the Purchasers to inspect, at
            any time during normal business hours, upon reasonable notice, and
            without undue material disruption of their business operations, all
            of such books and records and to visit the properties and operations
            of the Company and consult with the employees and officers of the
            Company.

                  9.4 Notice of Default or Material Adverse Change. Promptly
            advise the Purchaser of any event which could have a material
            adverse effect on the Company's business, operation, property,
            assets or condition, financial or otherwise, or the existence or
            occurrence of any Event of Default (as defined in the Notes), any
            breach of this Section 9 or any default of the Company under any
            agreement or instrument to which it is a party.

                  9.5 Notice of Filings with SEC. Promptly advise the Purchaser
            of any filing of a registration statement under the Securities Act
            with the SEC covering any of the Company's securities.

                  9.6 Delivery of Financial Statements and other Reports. The
            Company will deliver to each holder of Notes promptly upon
            transmission thereof, copies of all financial statements,
            information circulars, proxy statements and reports as the Company
            shall send to its stockholders and copies of all registration
            statements, prospectuses and all reports which it shall file with
            the Securities and Exchange Commission or with any securities
            exchange on which any of its securities is listed or with NASDAQ and
            copies of all press releases and other statements made available to
            the public concerning material developments in the business of the
            Company.

                  9.7 Stock to be Reserved. The Company covenants that all
            shares of Common Stock that may be issued in respect of interest
            payable on the Notes or upon conversion of the Notes will, upon
            issuance, be validly issued, fully paid and nonassessable and free
            from all taxes, liens and charges with respect to the issuance
            thereof. The Company covenants that during the period in which the
            Notes are outstanding it will at all times have authorized and
            reserved a sufficient number of shares of Common Stock to permit the
            conversion of the Notes.

                                       6
<PAGE>

      10. Conditions Precedent to the Obligations of the Company. The
obligations of the Company pursuant to this Agreement are subject to the
satisfaction at the Closing of each of the following conditions; provided,
however, that the Company may, in its sole discretion, waive any of such
conditions and proceed with the transactions contemplated hereby.

            10.1 Accuracy of Representations and Warranties. The representations
      and warranties of the Purchaser contained in this Agreement or in any
      document or certificate delivered in connection with the transactions
      contemplated hereby shall be true and correct in all material respects on
      and as of the Closing Date, as if made on and as of the Closing Date.

            10.2 Performance of Agreements. Each Purchaser shall have duly
      executed and delivered this Agreement to the Company and shall have
      performed and complied in all material respects with all covenants,
      obligations and agreements to be performed or complied with by any of them
      on or before the Closing Date pursuant to this Agreement.

      11. Conditions Precedent to the Obligations of the Purchaser. The
obligations of the Purchaser under this Agreement is subject to the satisfaction
at the Closing of each of the following conditions; provided, however, that the
Purchaser may, in Purchaser's sole discretion, waive any of such conditions and
proceed with the transactions contemplated hereby.

            11.1 Accuracy of Representations and Warranties. The representations
      and warranties of the Company contained in this Agreement or in any
      document or certificate delivered in connection with the transactions
      contemplated hereby shall be true and correct in all material respects on
      and as of the Closing Date, as if made on and as of the Closing Date.

            11.2 Performance of Agreements. The Company shall have duly executed
      and delivered this Agreement and the Registration Rights Agreement and
      shall have performed and complied in all material respects with all
      covenants, obligations and agreements to be performed or complied with by
      it on or before the Closing Date pursuant to this Agreement.

            11.3 Litigation, Material Changes, Defaults, etc. No claim, action,
      suit, proceeding, arbitration or hearing or notice of hearing shall be
      pending (and no action or investigation by any governmental authority
      shall be threatened) which seeks to enjoin, prevent or adversely affect
      the consummation of the transactions contemplated by this Agreement. There
      shall not have been any changes in the business of the Company which have
      or could reasonably be expected to have a material adverse effect on the
      business, operations, properties, assets or condition, financial or
      otherwise, of the Company. There shall exist no defaults under the
      provisions of any instrument evidencing indebtedness of the Company.

            11.4 Purchase Permitted by Applicable Laws. The purchase of and
      payment for the Notes shall not be prohibited by any applicable law or
      governmental regulation

                                       7
<PAGE>

      (including without limitation Regulations G, T and X of the Board of
      Governors of the Federal Reserve System) and shall not subject the holder
      of the Notes to any tax, penalty or liability under any applicable law or
      governmental regulation.

      12. General Provisions.

            12.1 Survival of Representations, Warranties, Covenants, and
      Agreements. The representations, warranties, covenants and agreements
      contained in this Agreement shall survive the execution of this Agreement.

            12.2 Notices. All notices, requests, demands and other
      communications which are required to be or may be given under this
      Agreement to any party to any of the other parties shall be in writing and
      shall be deemed to have been duly given when (a) delivered in person, (b)
      the day following dispatch by an overnight courier service (such as
      Federal Express or UPS, etc.) or (c) five (5) days after dispatch by
      certified or registered first class mail, postage prepaid, return receipt
      requested, to the party to whom the same is so given or made. Any notice
      or other communication given hereunder shall be addressed to the Company,
      at its principal offices as set forth above and to the Purchaser at his
      address indicated on the signature page hereto.

            12.3 Counterparts. This Agreement may be executed in two or more
      counterparts, each of which shall be deemed an original and all of which
      together shall constitute one and the same instrument.

            12.4 Headings. All headings are inserted for convenience of
      reference only and shall not affect the meaning or interpretation of any
      such provisions or of this Agreement, taken as an entirety.

            12.5 Severability. If and to the extent that any court of competent
      jurisdiction holds any provision (or any part thereof) of this Agreement
      to be invalid or unenforceable, such holding shall in no way affect the
      validity of the remainder of this Agreement.

            12.6 Changes, Waivers, Etc. Neither this Agreement nor any provision
      hereof may be changed, waived, discharged or terminated orally, but rather
      may only be changed by a statement in writing signed by the party against
      which enforcement of the change, waiver, discharge or termination is
      sought. It is agreed that a waiver by either party of a breach of any
      provision of this Agreement shall not operate, or be construed, as a
      waiver of any subsequent breach by that same party.

            12.7 Governing Law. This Agreement shall be governed by and
      construed in accordance with the laws of the State of New York. The
      parties hereby agree that any dispute which may arise between them arising
      out of or in connection with this Agreement shall be adjudicated before a
      court located in New York City and they hereby submit to the exclusive
      jurisdiction of the courts of the State of New York located in New

                                       8
<PAGE>

      York, New York and of the federal courts in the Southern District of New
      York with respect to any action or legal proceeding commenced by any
      party, and irrevocably waive any objection they now or hereafter may have
      respecting the venue of any such action or proceeding brought in such a
      court or respecting the fact that such court is an inconvenient forum,
      relating to or arising out of this Agreement or any acts or omissions
      relating to the sale of the securities hereunder, and consent to the
      service of process in any such action or legal proceeding by means of
      registered or certified mail, return receipt requested, in care of the
      address set forth below or such other address as the undersigned shall
      furnish in writing to the other.

            12.8 Binding Effects. This Agreement shall be binding upon and inure
      to the benefit of the parties hereto and their respective successors,
      legal representatives and assigns.

            12.9 Entire Agreement. This Agreement sets forth the entire
      agreement and understanding between the parties as to the subject matter
      thereof and incorporates and supersedes all prior discussions, agreements
      and understandings of any and every nature among them.

            12.10 Further Assurances. The parties agree to execute and deliver
      all such further documents, agreements and instruments and take such other
      and further action as may be necessary or appropriate to carry out the
      purposes and intent of this Agreement.

            12.11. Expenses. Each party hereto shall pay all of its own fees and
      expenses in connection with the transactions contemplated hereby.

      IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first above written.

                                                MILESTONE SCIENTIFIC INC.

                                                   By: /s/ Leonard Osser
                                                       -------------------------
                                                   Leonard Osser, Chairman and
                                                   Chief Executive Officer

                                                   By: /s/ K. TUCKER ANDERSEN
                                                       -------------------------
                                                   K. TUCKER ANDERSEN

                                       9
<PAGE>

                                    EXHIBIT A

                     FORM OF 10% CONVERTIBLE PROMISORY NOTE

                                       10

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