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<SEC-DOCUMENT>0000950123-07-017026.txt : 20080225
<SEC-HEADER>0000950123-07-017026.hdr.sgml : 20080225
<ACCEPTANCE-DATETIME>20071226114746
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-07-017026
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20071226

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:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<HEAD>
<TITLE>RESPONSE LETTER</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Milestone Scientific, Inc.<BR>

220 South Orange Avenue<BR>

Livingston, NJ 07039</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(973)&nbsp;535-2717
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">December&nbsp;26, 2007
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
Division of Corporate Finance<BR>
100 F Street, NE<BR>
Washington, D.C. 20549

</DIV>

<DIV align="left" style="margin-top: 12pt">
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    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attention:</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Dennis C. Hult<br>
Staff Accountant</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Milestone Scientific, Inc.<BR>

File No.&nbsp;001-14053</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Sirs:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This letter is in response to the Staff&#146;s comment letter dated December&nbsp;18, 2007 which, in turn,
was in response to our letter of November&nbsp;15, 2007. Our responses are keyed to the number of each
comment in your letter. If you have any questions regarding the responses to your comments please
feel free to contact me at 973-535-2717 or Stephen Zelnick of Morse, Zelnick, Rose and Lander at
212-838-8040.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your comment:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Form&nbsp;10-QSB for the period ended September&nbsp;30, 2007</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Financial Statements, page 4</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Revenue Recognition</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Refer to prior comment 5 from our letter dated October&nbsp;12, 2007. We refer to your response and
request you specially identify where we can find your expanded discussion of revenue recognition.
We see no revenue recognition policy disclosure in the footnotes to the financial statements.
Confirm your future filings will include the expanded revenue recognition policy disclosures
previously requested.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our response:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following appears starting on the sixth line of the second paragraph under</DIV>
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</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Summary of Significant Accounting Policies&#148;:</DIV>


<DIV align="left" style="margin-top: 6pt; margin-left: 2%; margin-right:2%; font-size: 10pt">. . . and recognize revenue on the date of arrival at the customer&#146;s location as
shipments are FOB destination. Shipments to our international distributor are FOB
our warehouse and revenue is therefore recognized on shipment. In both cases the
price to the buyer is fixed and collectibility is reasonably assured. Further, we
have no obligation on these sales for any post sale installation, set-up or
maintenance, these being the responsibility of the buyer. Customer acceptance is
considered made at delivery. Our only obligation after sale is the normal
commercial warranty against manufacturing defects if the alleged defective unit is
returned within the warranty period.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We believe that the above quoted language fairly describes our revenue recognition policy and our
future filings will included this disclosure language.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your comment:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To this regard, please make sure your future accounting policy disclosures indicate how you
account for the STA market introduction sales incentive programs.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our response:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will make sure our future accounting policy disclosures indicate how we account for the STA
market introduction sales incentive programs.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your comment:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Management&#146;s Discussion and analysis, page 13</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Results of Operations, page 16</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3. Please tell us and disclosure in future filings why the cost of royalty expense has a credit
balance.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our response:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In 2006 we accounted for certain royalty expenses as part of cost of goods sold and other royalty
expenses in a royalty expense account that is part of selling, general and administrative expenses.
In 2006 the total royalty due to a certain party was $3,261.13 and a check was issued to pay that
amount. In 2007 it was determined that the party might not be legally entitled to the royalty and
the check was cancelled resulting in the credit balance shown. We have accrued the royalty expense
to</DIV>
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</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">which this party might be entitled but we have not paid it in 2007. Prior to year end we intend to
reclassify the credit balance from the 2007 reversal to the royalty expense account that is part of
selling, general and administrative expenses.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you require any further information please do not hesitate to contact me or Mr.&nbsp;Zelnick, as
noted above.</DIV>


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</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Respectfully,<BR>
<BR>
<BR>
Arthur L. Goldberg<BR>
Acting Chief Financial Officer<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">xc: Stephen Zelnick, Esq.
</DIV>



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</DIV>




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