XML 21 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (5,539,903) $ (1,707,496)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation expense 27,947 17,380
Amortization of patents 69,428 78,458
Common stock and options for compensation, consulting and vendor services 1,128,274 1,031,623
Equity loss on joint venture 2,445,489 910,200
Changes in operating assets and liabilities:    
Increase in accounts receivable (207,248) (8,623)
Increase in other receivable (58,140)  
Increase in inventories (875,034) (1,175,447)
(Increase) decrease to advances on contracts (450,407) 1,587,155
(Increase) decrease to prepaid expenses and other current assets 192,601 (304,114)
Increase in other assets (2,670) (1,768)
Increase (decrease) in accounts payable 173,068 (516,460)
Increase in accrued expenses and other payables 220,038 466,035
Net cash (used in) provided by operating activities (2,946,338) 376,943
Cash flows from investing activities:    
Purchases of intangible assets (9,939) (16,752)
Purchases of property and equipment (67,581) (82,210)
Net cash used in investing activities (3,727,271) (1,304,528)
Cash flows from financing activities:    
Proceeds from exercise of stock options   348,697
Net proceeds on Private Placement Offering   9,449,683
Repayment of related party loan   (50,000)
Capital contribution from noncontrolling interest 500,000 400,000
Net cash provided by financing activities 500,000 10,148,380
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (6,173,609) 9,220,795
Cash and cash equivalents at beginning of year 10,367,993 1,147,198
Cash and cash equivalents at end of year 4,194,384 10,367,993
Supplemental disclosure of cash flow information:    
Net Assets Acquired from Variable Interest Entity 566,775  
Milestone Medical Inc. [Member]    
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Equity loss on joint venture 2,019,211 891,500
Cash flows from investing activities:    
Investment in Joint Venture   (856,105)
Investment in Milestone Medical prior to consolidation (Note F) (3,649,751)  
Milestone Education LLC [Member]    
Cash flows from operating activities:    
Net loss (7,846) (17,889)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Equity loss on joint venture 7,846 17,890
Milestone China [Member]    
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Equity loss on joint venture $ 348,651 810
Cash flows from investing activities:    
Investment in Joint Venture   $ (349,461)