XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Product sales, net $ 167,674 $ 2,257,851 $ 1,979,060 $ 4,173,759
Cost of products sold 55,626 752,183 615,326 1,370,876
Gross profit 112,048 1,505,668 1,363,734 2,802,883
Selling, general and administrative expenses 3,176,768 2,517,970 5,929,580 4,627,023
Research and development expenses 108,170 95,529 215,650 101,875
Total operating expenses 3,284,938 2,613,499 6,145,230 4,728,898
Loss from operations (3,172,890) (1,107,831) (4,781,496) (1,926,015)
Interest income fees (4,062) (2,375) (8,159) (3,618)
Change in fair value of derivative liability 12,462 52,722
Loss before provision for income taxes and net of equity investments (3,176,952) (1,097,744) (4,789,655) (1,876,911)
Provision for income taxes (1,250) (14,163) (1,500) (18,627)
Loss before equity in net earnings (losses) of equity investments (3,178,202) (1,111,907) (4,791,155) (1,895,538)
Earnings from China Joint Venture (58,664) (49,100)
Net loss (3,178,202) (1,053,243) (4,791,155) (1,846,437)
Net loss attributable to noncontrolling interests 11,738 11,959 24,476 22,402
Net loss attributable to Milestone Scientific Inc. $ (3,166,464) $ (1,041,284) $ (4,766,679) $ (1,824,036)
Net loss per share applicable to common stockholders—        
Basic (in dollars per share) $ (0.06) $ (0.02) $ (0.09) $ (0.04)
Diluted (in dollars per share) $ (0.06) $ (0.02) $ (0.09) $ (0.04)
Weighted average shares outstanding and to be issued—        
Basic (in shares) 56,694,793 45,366,237 51,728,806 41,904,581
Diluted (in shares) 56,694,793 45,366,237 51,728,806 41,904,581