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Accounts Receivable
6 Months Ended
Jun. 30, 2013
Accounts Receivable

NOTE – 3 ACCOUNTS RECEIVABLE

Milestone sells a significant amount of its product on credit terms to its major distributors. Milestone estimates losses from the inability of its customers to make payments on amounts billed. A majority of credit sales are due within sixty days from invoicing. In 2010, Milestone shipped a significant order to a major international distributor. At the time of the shipment, regulatory approval to sell the product in the respective country was in process. Obtaining such regulatory approval was not a condition of the purchase order and sale to the distributor. A segment of the regulatory approval has been delayed and as such the customer has not paid the full amount of the invoiced shipment. The remaining balance due from this distributor is $128,004 as of June 30, 2013. Milestone is receiving periodic payments from the international distributor and a substantial portion has been paid as of June 30, 2013. Milestone reserved $68,849 of the total accounts receivable from this distributor as of June 30, 2013.