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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Product sales, net $ 1,648,368 $ 2,425,738 $ 4,349,270 $ 5,350,445
Cost of products sold 967,720 1,056,384 1,986,196 2,178,797
Gross profit 680,648 1,369,354 2,363,074 3,171,648
Selling, general and administrative expenses 3,282,322 4,011,672 6,397,948 6,760,969
Research and development expenses 266,560 215,420 731,027 231,864
Depreciation and amortization expense 16,645 14,834 33,460 35,760
Total operating expenses 3,565,527 4,241,926 7,162,435 7,028,593
Loss from operations (2,884,879) (2,872,572) (4,799,361) (3,856,945)
Interest income (expense) 3,550 (4,461) (1,193) (6,996)
Gain on debt extinguishment-PPP 0 276,180 0 276,180
Loss before provision for income taxes and equity investments (2,881,329) (2,600,853) (4,800,554) (3,587,761)
Provision for income taxes 0 (83) 0 (333)
Loss before equity investment (2,881,329) (2,600,936) (4,800,554) (3,588,094)
Deferred profit and divesture-equity investment (See Note 6) 0 (95,857) 0 (94,556)
Net loss (2,881,329) (2,696,793) (4,800,554) (3,682,650)
Net loss attributable to noncontrolling interests (22,848) (16,325) (40,350) (29,313)
Net loss attributable to Milestone Scientific Inc. $ (2,858,481) $ (2,680,468) $ (4,760,204) $ (3,653,337)
Net loss per share applicable to common stockholders—        
Basic (in dollars per share) $ (0.04) $ (0.04) $ (0.07) $ (0.05)
Diluted (in dollars per share) $ (0.04) $ (0.04) $ (0.07) $ (0.05)
Weighted average shares outstanding and to be issued—        
Basic (in shares) 70,356,796 69,220,795 70,585,590 68,286,033
Diluted (in shares) 70,356,796 69,220,795 70,585,590 68,286,033