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<SEC-DOCUMENT>0000950123-07-011882.txt : 20070823
<SEC-HEADER>0000950123-07-011882.hdr.sgml : 20070823
<ACCEPTANCE-DATETIME>20070823164857
ACCESSION NUMBER:		0000950123-07-011882
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070822
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070823
DATE AS OF CHANGE:		20070823

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILESTONE SCIENTIFIC INC/NJ
		CENTRAL INDEX KEY:			0000855683
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				133545623
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14053
		FILM NUMBER:		071076045

	BUSINESS ADDRESS:	
		STREET 1:		220 S ORANGE AVE
		STREET 2:		LIVINGSTON CORPORATE PARK
		CITY:			LIVINGSTON
		STATE:			NJ
		ZIP:			07039
		BUSINESS PHONE:		2013793171

	MAIL ADDRESS:	
		STREET 1:		44 KEAN ROAD
		STREET 2:		220 SOUTH ORANGE AVE
		CITY:			LIVINGSTON
		STATE:			NJ
		ZIP:			07039

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	U S OPPORTUNITY SEARCH INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y38879e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 30%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported) </B><FONT style="border-bottom: 1px solid #000000"><B>August&nbsp;22, 2007</B></FONT></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">MILESTONE SCIENTIFIC INC.</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Exact name of Registrant as specified in its charter)</B></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-26284</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13-3545623</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(State or other jurisdiction <BR>
of incorporation)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Commission<BR>
File Number)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(IRS Employer<BR>
Identification No.)</B></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><FONT style="border-bottom: 1px solid #000000"><B>220 South Orange Avenue, Livingston Corporate Park, Livingston, New Jersey 07034</B></FONT><BR>
<B>(Address of principal executive office) (Zip Code)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Registrant&#146;s telephone number, including area code </B><FONT style="border-bottom: 1px solid #000000"><B>(973)&nbsp;535-2717</B></FONT></DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>N/A</B><BR>
<DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000"><B>(Former name or former address, if changed since last report)</B></FONT></DIV>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;5.02: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;8.01: Other Matters.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;9.01: Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="y38879exv99w1.htm">EX-99.1: PRESS RELEASE</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;5.02: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers." -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;5.02:</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;22, 2007, we appointed Arthur Goldberg as Acting Chief Financial Officer to replace
David Cohn, whose resignation was previously reported. From July&nbsp;2006 to June&nbsp;2007, Mr.&nbsp;Goldberg
served as CAO and CFO of St. Luke&#146;s School, a non-sectarian college prep school located in New
Canaan, Connecticut. From December&nbsp;2005 to July&nbsp;2006, Mr.&nbsp;Goldberg was a private accounting and
business consultant. From February&nbsp;1999 to November&nbsp;2005, Mr.&nbsp;Goldberg was a partner in the firm
of Tatum CFO Partners, serving as an interim CFO for both public and private companies. Prior to
1999, Mr.&nbsp;Goldberg held several senior executive positions, including CFO and COO of a number of
public companies. Mr.&nbsp;Goldberg received his B.B.A. from the City College of New York, his M.B.A.
from the University of Chicago and his J.D. and LL.M. from New York University School of Law. Mr.
Goldberg is also a Certified Public Accountant.
</DIV>
<!-- link2 "Item&nbsp;8.01: Other Matters." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;8.01:</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Other Matters.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;22, 2007, we issued a press release, a copy of which is attached hereto as Exhibit
99.1.
</DIV>
<!-- link2 "Item&nbsp;9.01: Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01:</B></TD>
    <TD>&nbsp;</TD>
    <TD><U><B>Financial Statements and Exhibits</B></U></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="13%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press Release dated August&nbsp;22, 2007.</TD>
</TR>

</TABLE>
</DIV>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>MILESTONE SCIENTIFIC INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Leonard Osser
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Leonard Osser&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chairman and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dated: August&nbsp;22, 2007

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y38879exv99w1.htm
<DESCRIPTION>EX-99.1: PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MILESTONE SCIENTIFIC ANNOUNCES APPOINTMENT OF<BR>
ACTING CHIEF FINANCIAL OFFICER</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>LIVINGSTON, N.J. &#151; (PR NEWSWIRE) &#151; August&nbsp;22, 2007 </I></B>&#151; Milestone Scientific, Inc.
(OTCBB:MLSS), the recognized leader in advanced injection technologies, today announced the
appointment of Arthur Goldberg, CPA as the Company&#146;s new Acting Chief Financial Officer, replacing
Dave Cohn who is leaving to pursue other business opportunities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Considering his impressive depth of experience in overseeing the financial affairs of numerous
high growth companies, Arthur is sure to greatly complement and further strengthen our senior
leadership team,&#148; stated Leonard Osser, Chairman and Chief Executive Officer. &#147;We are very pleased
to welcome him to Milestone and expect that he will play a significant role in our Company&#146;s
ongoing success.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For nearly 40&nbsp;years, Goldberg has applied his financial and legal expertise as a highly skilled
senior executive serving a broad range of industries, including service (for profit and not for
profit), retail, manufacturing, distribution and software development/high technology. Prior to
joining Milestone, he served as CAO and CFO of St. Luke&#146;s School, a non-sectarian college prep
school located in New Canaan, Connecticut. From 1999-2005, Goldberg was a partner in the firm of
Tatum CFO Partners, serving as an interim CFO for both public and private companies, including
Register.com, Inc., Warren Pharmaceuticals; Essential Reality; Lotus Management and SEIU Local 32BJ
Benefit Fund. As Vice Chairman of the Board and CFO/COO of Complete Management, Inc., he helped
lead the Company through three public offerings and the acquisition of 35 physician practices in a
two year period. From 1993-1996, Goldberg led his own corporate advisory firm, Arthur Goldberg
Associates, where he primarily aided smaller companies in reorganizations and recapitalizations.
As Chief Financial Officer of Elek-Tek, Inc., he played a critical role in the successful IPO of
this $225&nbsp;million retail electronics chain. Previous executive postings also included
Administrative Partner/COO of Altheimer &#038; Gray and Gottlieb &#038; Schwartz; Vice President-Finance and
CFO of EAC Industries, Inc.; Vice President-Finance and CFO of Xonics, Inc.; and Group Operations
Manager and Subsidiary CEO of Condec Corporation. Goldberg is a graduate of City College of New
York, where he earned a BBA degree. Both a Certified Public Accountant and Attorney at Law, he
earned an MBA from the University of Chicago and JD and LLM degrees from New York University School
of Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About Milestone Scientific, Inc.</B><BR>
Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in pioneering proprietary,
highly innovative technological solutions for the medical and dental markets. Central to the
Company&#146;s IP platform and product development strategy is its patented <I>CompuFlo</I><SUP style="font-size: 85%; vertical-align: text-top">&#153;</SUP>
technology for the improved and painless delivery of local anesthetic. Specifically, <I>CompuFlo </I>is a
computer-controlled, pressure sensitive infusion, perfusion, suffusion and aspiration technology,
which provides real-time readouts of pressures, fluid densities and flow rates, enabling the
advanced delivery and removal of a wide array of fluids. The <I>Single Tooth Anesthesia</I>
(<I>STA</I><SUP style="font-size: 85%; vertical-align: text-top">&#153;</SUP>) computer-controlled local anesthesia delivery system which uses this technology
provides dentists with audible and visual signals as to in-tissue pressure. Milestone&#146;s existing
painless injection systems are currently sold in 25 countries. For more information on these and
other innovative Milestone products, please visit the Company&#146;s web site found at <U>www.milesci.com</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Safe Harbor Statement</B><BR>
<I>This press release contains forward-looking statements regarding the timing and financial impact of
the Milestone&#146;s ability to implement its business plan, expected revenues and future success. These
statements involve a number of risks and uncertainties and are based on assumptions involving
judgments with</I>
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>respect to future economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict accurately and many of which are
beyond Milestone&#146;s control. Some of the important factors that could cause actual results to differ
materially from those indicated by the forward-looking statements are general economic conditions,
failure to achieve expected revenue growth, changes in our operating expenses, adverse patent
rulings, FDA or legal developments, competitive pressures, changes in customer and market
requirements and standards, and the risk factors detailed from time to time in Milestone&#146;s periodic
filings with the Securities and Exchange Commission, including without limitation, Milestone&#146;s
Annual Report on Form 10-KSB for the year ended December&nbsp;31, 2006. The forward looking-statements
in this press release are based upon management&#146;s reasonable belief as of the date hereof.
Milestone undertakes no obligation to revise or update publicly any forward-looking statements for
any reason.</I>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>FOR MORE INFORMATION, PLEASE CONTACT:<BR>
Elite Financial Communications Group, LLC<BR>
Dodi Handy, President and CEO, or<BR>
Daniel Conway, Chief Strategist<BR>
407-585-1080 or via email at mlss@efcg.net</B>

</DIV>


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