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Consolidation of Variable Interest Entity (Tables)
12 Months Ended
Dec. 31, 2015
Equity Method Investments And Joint Ventures [Abstract]  
Pro Forma Financial Information (Unaudited)

Pro Forma Financial Information (Unaudited).

The financial information in the table below summarizes the combined results of operations of Milestone Scientific and subsidiaries and Milestone Medical Inc. (a variable interest entity) on a pro forma basis as though the companies had been combined as of the beginning of the earliest period presented. The pro forma financial information is presented for informational purposes only and is not indicative of the result of operations that would have been achieved if the consolidation had taken place at the beginning of each of the period presented.

 

2015 Pro Forma

Consolidated

 

 

2014 Pro Forma

Consolidated

 

Revenue

$

9,542,544

 

 

$

10,333,089

 

Cost of sales

 

3,061,299

 

 

 

3,630,765

 

Gross profit

 

6,481,245

 

 

 

6,702,324

 

 

 

 

 

 

 

 

 

Selling, general and administrative

   expenses

 

12,645,445

 

 

 

8,899,447

 

Research and development

   expenses

 

892,255

 

 

 

489,551

 

Total operating expenses

 

13,537,700

 

 

 

9,388,998

 

Loss income from operations

 

(7,056,455

)

 

 

(2,686,674

)

Other Expenses

 

(5,347

)

 

 

-

 

Interest Expense

 

(40,331

)

 

 

(2,955

)

Interest Income

 

3,838

 

 

 

5,057

 

Loss before provision for income

   taxes

 

(7,098,295

)

 

 

(2,684,572

)

Provision for income tax

 

(36,157

)

 

 

(9,509

)

Loss before equity in net earnings of equity investments

 

(7,134,452

)

 

 

(2,694,081

)

Loss on earnings from Education Joint Venture

 

(7,846

)

 

 

(17,890

)

Loss on earnings from China Joint Venture

 

(418,432

)

 

 

(810

)

Net loss in equity investments

 

(426,278

)

 

 

(18,700

)

Net loss

 

(7,560,730

)

 

 

(2,712,781

)

Net loss attributable to the

   noncontrolling interests

 

2,093,208

 

 

 

954,423

 

Net loss attributable to Milestone

   Scientific Inc.

$

(5,467,522

)

 

$

(1,758,358

)