Note 7 - Consolidation of Variable Interest Entity

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Variable Interest Entity Disclosure [Text Block]

 

NOTE 

7

 – CONSOLIDATION OF VARIABLE INTEREST ENTITY

Milestone Education is a

50%

owned subsidiary of Milestone Scientific which began operations in

2013

to provide training and education to dentists throughout the world. As of

June 30, 2018,

and

2017,

approximately

73%

and

81%,

respectively, of the

revenue earned by Milestone Education is from services performed for Milestone Scientific. Because of this dependency and relationship, we determined that Milestone Scientific had the power to direct the activities that most significantly impact Milestone Education's economic performance, and therefore Milestone Education is consolidated in our financial statements.