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Note L - Stock Option Plans | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE L — STOCK OPTION PLANS The 2004 Stock Option Plan provided for the grant of options to purchase up to 750,000 shares of Milestone Scientific's common stock. Options may be granted to employees, officers, directors and consultants of Milestone Scientific for the purchase of common stock at a price not less than the fair market value of the common stock on the date of the grant. In general, options become exercisable over a three -year period from the grant date and expire five years after the date of grant. There were no shares available for grant at December 31, 2017 under this plan. In June 2011, the stockholders of Milestone Scientific approved the 2011 Stock Option Plan (the "2011 Plan") which originally provided for stock options to our employees, directors and consultants and incentive and non-qualified stock options to purchase up to 2,000,000 shares of common stock. In general, options become exercisable over a three -year period from the grant date and expire five years after the date of grant. In May 2016, Milestone Scientific's stockholders approved the following amendments to the 2011 Plan: i . Renaming of the 2011 plan to the “Milestone Scientific Inc., 2011 Equity Compensation Plan” ii . Providing for awards of restricted common stock; and iii . Increasing the maximum number of shares of common stock reserved for grants under the 2011 Plan from 2,000,000 to 4,000,000. Milestone Scientific recognizes compensation expense on a straight-line basis over the requisite service period and in the case of performance-based options over the period of the expected performance. For the twelve months ended December 31, 2017 and 2016 respectively, Milestone Scientific recognized $636,058 and $579,103 of total employee compensation cost, respectively. As of December 31, 2017, and 2016, there was $603,979 and $678,842 of total unrecognized compensation cost related to non- vested options, respectively. Milestone Scientific expects to recognize these cost over a weighted average period of 2.61 years and 3.04 years as of December 31, 2017 and 2016, respectively. A summary of option activity for employees under the plans and changes during the years ended December 31, 2017, and 2016 is presented below:
| Number of Options |  | Wei ghted Averaged Exercise Price $ |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Options Value $ |
Options outstanding January 1, 2016 | 1,419,436 |  | 1.56 |  | 2.79 |  | 1,220,338 |
Exercisable, January 1, 2016 | 1,041,680 |  | 1.29 |  | 2.41 |  | 1,135,819 |
Granted | 520,337 |  | 1.79 |  | 4.38 |  |  |
Exercised during 2016 | (327,778 | ) | 0.75 |  | - |  | - |
Forfeited or expired | (100,000 | ) | 2.35 |  | - |  | - |
Options outstanding December 31, 2016 | 1,511,995 |  | 1.74 |  | 2.97 |  | 102,605 |
Exercisable, December 31, 2016 | 1,054,202 |  | 1.65 |  | 2.51 |  | 102,605 |
Granted | 1,006,741 |  | 1.82 |  | 4.69 |  | 25,610 |
Exercised during 2017 | (83,333 | ) | 0.75 |  | - |  | - |
Forfeited, cancelled, or expired | (1,250,068 | ) |  |  | - |  | - |
Options outstanding December 31, 2017 | 1,985,325 |  | 1.74 |  | 3.04 |  | 25,160 |
Exercisable, December 31, 2017 | 1,317,4416 |  | 1.84 |  | 2.46 |  | 8,537 |
In July 2017, Milestone Scientific's Compensation Committee approved the issuance of 400,000 stock options to Gian Domenico Trombetta, CEO of Wand Dental, a Director of Milestone Scientific and a director of Innovest S.p.A., an Italian investor ( 250,000 options at an exercise price of $2.55 per share were issued on July 7, 2017 and 150,000 options having an exercise price at the higher of $2.55 or the market price of the stock on the date of the 2018 Annual Stockholder meeting, subject to approval of a new or amended equity incentive plan at such meeting.) Mr. Trombetta elected to cancel the 400,00options granted as of December 31, 2017. The weighted-average fair value of the options granted during 2017 and 2016 was estimated as $1.73 and $1.70 respectively, on the date of grant. The fair value for 2017 and 2016 was determined using the Black-Scholes option-pricing model with the following assumptions:
|  | 2017 |  | 2016
Volatility |  |  | 81.23% -97.24% |  |  | 134.53%- 194.34%
Risk-free interest |  |  | 1.4%- 2.2% |  |  | .04%-1.47%
Expected Life |  | 2-5 years |  | 5 years
Dividend yield |  |  | 0 |  |  | 0
Forfeiture Rate |  |  | 6 |  |  | 6
A summary of option activity for non-employees under the plans and changes during the years ended December 31, 2017 and 2016, is presented below:
| Number of Options |  | Weighted Averaged Exercise Price $ |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intr insic Options Value $
Outstanding, January 1, 2016 | 8,333 |  | 2.70 |  | 4.83 |  |
Exercisable, January 1, 2016 | 2,777 |  | 2.70 |  | 4.83 |  |
Granted | 216,666 |  | 2.53 |  | - |  |
Exercised | - |  | - |  | - |  | -
Outstanding, December 31, 2016 | 224,999 |  | 2.53 |  | 5.32 |  | -
Exercisable, December 31, 2016 | 14,734 |  | 2.72 |  | 4.36 |  | -
Granted 2017 | - |  | - |  | - |  | -
Exercised 2017 | - |  | - |  | - |  | -
Outstanding, December 31, 2017 | 224,999 |  | 2.52 |  | 3.51 |  | -
Exercisable, December 31, 2017 | 23,067 |  | 2.22 |  | 4.38 |  | -
The fair value of the non-employee options was estimated on the date of grant using the Black Scholes option-pricing model at the date of grant. In accordance with the provisions of FASB ASC 505, Milestone Scientific will re-measure the value of the grant at each presentation date unless there is a significant disincentive for non-performance or until performance has been rendered. For the twelve months end December 31, 2017, Milestone Scientific recognized $9,384 income related to non-employee options. For the twelve months end December 31, 2016, Milestone Scientific recognized $25,346 expense related to non-employee options.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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