Note I - Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE I — STOCKHOLDERS’ EQUITY

In 2021, at the annual shareholder meeting the Company received approval to increase its authorized shares of common stock from 85,000,000 to 100,000,000.

PUBLIC OFFERING AND PRIVATE PLACEMENT

In the second quarter of 2020, the Company completed two public offerings. In April 2020, a Common Stock offering generating gross proceeds of approximately $5.1 million (5,420,000 common shares and 2,710,000 warrants). The combined price of the shares and warrants was $0.95 per share. The warrants are exercisable at a price of $1.20 per share and have an expiration of three (3) years from the issue date. In June 2020, the Company completed a second Common Stock offering generating gross proceeds of approximately $14.6 million (6,770,000 common shares and 3,749,000 warrants). The combined price of the shares and warrants was $2.15 per share. The warrants are exercisable at $2.60 and expire three (3) years from the issue date.

WARRANTS

The following table summarizes information about shares issuable under warrants outstanding at December 31, 2021:

	Warrant shares outstanding			Weighted Average exercise price		Weighted Average remaining life		Intrinsic value
Outstanding and exercisable at January 1, 2021		6,369,396			1.97		2.48	$	2,784,117
Issued		-			-		-		-
Exercised		(2,101,175	)		1.50		-		4,231,079
Expired or cancelled					-		-		-
Outstanding and exercisable at December 31, 2021		4,268,221		$	2.18	$	1.50	$	1,187,546

SHARES TO BE ISSUED

As of December 31, 2021, and 2020, there were 1,891,979 and 2,256,844,  shares to be issued whose issuance has been deferred under the terms of an employment agreements with the former Interim Chief Executive Officer,  former Chief Financial Officer, and other employees of Milestone Scientific. Such shares will be issued to each party upon termination of their employment. 

As of December 31, 2021, and 2020, there were 174,364 and 171,485 shares to be issued to non-employees, respectively, that will be issued to non-employees for services rendered. The number of shares was fixed at the date of grant and were fully vested upon grant date.

The following table summarizes information about shares to be issue at December 31, 2021 and 2020.

	December 31, 2021			December 31, 2020
Shares-to-be-issued, outstanding January 1, 2021 and 2020, respectively		2,428,329			2,375,760
Granted in current period		93,918			642,667
Issued in current period		(455,904	)		(590,098	)
Shares-to be issued outstanding December 31, 2021 and 2020, respectively		2,066,343			2,428,329