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Product Sales and Significant Customers and Vendors | 12 Months Ended
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Dec. 31, 2014
Product Sales And Significant Customers And Vendors [Abstract] |
Product Sales and Significant Customers and Vendors | NOTE N — PRODUCT SALES AND SIGNIFICANT CUSTOMERS AND VENDORS Milestone’s sales by product and by geographical region are as follows:
|  | Year End December 31, |
|  | 2014 |  |  | 2013 |
Instruments |  | $ | 2,569,102 |  |  | $ | 2,672,026 |
Handpieces |  |  | 7,627,140 |  |  |  | 7,294,810 |
Other |  |  | 136,848 |  |  |  | 44,584 |
|  | $ | 10,333,090 |  |  | $ | 10,011,420 |
United States |  | $ | 4,655,648 |  |  | $ | 5,299,552 |
Canada |  |  | 100,321 |  |  |  | 553,984 |
Other foreign |  |  | 5,577,121 |  |  |  | 4,157,884 |
|  | $ | 10,333,090 |  |  | $ | 10,011,420 |
Milestone has informal arrangements with the manufacturer of the STA, CompuDent and CompuMed instruments, one of the principal manufacturers for those instruments pursuant to which they manufacture these products under specific purchase orders but without any long-term contract or minimum purchase commitment. Purchases from this supplier were $948,024 (26%) and $457,600 (13%) in 2014 and 2013, respectively. Milestone has a manufacturing agreement with one of the principal manufacturers, which is a related party, of its handpieces pursuant to which they manufacture products under specific purchase orders but without minimum purchase commitments. Purchases of handpieces from this vendor in China were $2,698,043 (74%) and $3,026,041 (87%) in 2014 and 2013, respectively. As further described in Note B, a five percent shareholder of Milestone is also a shareholder of this vendor. All other purchases from other suppliers were not significant in either 2014 or 2013. For the year ended December 31, 2014, Milestone had two customers (distributors) that had approximately 45%, (17% and 28%) of its net product sales. Accounts receivable for the two major customers amounted to approximately $1,100,000, or 69% of gross accounts receivable. For the year ended December 31, 2013, Milestone had two customers (distributors) that had approximately 42%, (21% and 21%) of its net product sales. Accounts receivable for the one major customer amounted to approximately $732,762, or 48% of gross accounts receivable.

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