XML 27 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accounts Receivable - Current and Long Term
12 Months Ended
Dec. 31, 2013
Accounts Receivable - Current and Long Term

NOTE C — ACCOUNTS RECEIVABLE – CURRENT AND LONG TERM

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 ninety 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. The regulatory approval has been delayed and as such the customer has not paid the full amount of the invoiced shipment. Milestone is receiving periodic payments from the international distributor. Based on the periodic payment plan prepared by the international distributor, Milestone had recorded a long term net accounts receivable of $119,201 as of December 31, 2012. The current portion of this net accounts receivable was $99,621 and Milestone had reserved $308,350 of the total accounts receivable from this distributor as December 31, 2012, which was reversed in 2013 after payment occurred.