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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Product sales, net $ 2,108,233 $ 1,246,110 $ 7,458,678 $ 3,225,170
Cost of products sold 747,997 409,621 2,926,794 1,024,947
Gross profit 1,360,236 836,489 4,531,884 2,200,223
Selling, general and administrative expenses 2,968,625 2,275,274 9,729,594 8,146,498
Research and development expenses 356,179 21,438 588,043 237,089
Depreciation and amortization expense 16,353 16,505 52,113 74,861
Total operating expenses 3,341,157 2,313,217 10,369,750 8,458,448
Loss from operations (1,980,921) (1,476,728) (5,837,866) (6,258,225)
Interest expense (4,608) (569) (11,604) (8,727)
Gain on debt extinguishment-PPP 0 0 276,180 0
Loss before provision for income taxes and net of equity investments (1,985,529) (1,477,297) (5,573,290) (6,266,952)
Provision for income taxes 0 (24,717) (333) (26,217)
Loss before equity in net earnings (losses) of equity investments (1,985,529) (1,502,014) (5,573,623) (6,293,169)
Loss from China Joint Venture (69,905) 0 (164,461) 0
Net loss (2,055,434) (1,502,014) (5,738,084) (6,293,169)
Net loss attributable to noncontrolling interests (12,227) (11,025) (41,540) (35,501)
Net loss attributable to Milestone Scientific Inc. $ (2,043,207) $ (1,490,989) $ (5,696,544) $ (6,257,668)
Net loss per share applicable to common stockholders—        
Basic (in dollars per share) $ (0.03) $ (0.02) $ (0.08) $ (0.11)
Diluted (in dollars per share) $ (0.03) $ (0.02) $ (0.08) $ (0.11)
Weighted average shares outstanding and to be issued—        
Basic (in shares) 69,573,795 65,817,132 68,609,143 56,478,151
Diluted (in shares) 69,573,795 65,817,132 68,609,143 56,478,151