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Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,636,956 $ 3,602,229
Accounts receivable, net 1,535,513 802,384
Accounts receivable from related party 1,725,450 2,714,600
Other receivable 10,000
Notes receivable from financing transaction, short term 500,000
Prepaid expenses and other current assets 436,410 291,929
Deferred cost related party 1,109,671 620,041
Total 3,379,209 4,602,719
Advances on contracts 697,192 700,900
Total current assets 12,020,401 13,344,802
Furniture, fixtures & equipment net 141,760 159,026
Patents, net 2,789,748 660,457
Notes receivable from financing transaction long term 650,000
Other assets 26,878 17,355
Total assets 15,628,787 14,181,640
Current Liabilities:    
Accounts payable 977,623 1,341,207
Accounts payable related party 985,678 1,235,052
Accrued expenses and other payables 2,287,908 1,436,262
Deferred profit, related party 751,500 630,990
Deferred revenue, related party 1,725,450 1,001,800
Total current liabilities 6,728,159 5,645,311
Deferred gain from financing transaction 1,400,000
Total liabilities 8,128,159 5,645,311
Commitments and Contingencies
Stockholders’ Equity    
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, and 7,000 shares issued and outstanding as December 31, 2017 and 2016. 7 7
Common stock, par value $.001; authorized 50,000,000 shares; 33,191,571 shares issued, 1,401,247 shares to be issued and 33,158,238 shares outstanding as of December 31, 2017; 30,457,224 shares issued, 1,270,481 shares to be issued and 30,423,891 shares outstanding as of December 31, 2016 34,593 31,720
Additional paid-in capital 86,689,084 82,761,503
Accumulated deficit (78,568,284) (73,381,491)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 7,243,884 8,500,223
Noncontrolling interest 256,744 36,106
Total equity 7,500,628 8,536,329
Total liabilities and stockholders’ equity $ 15,628,787 $ 14,181,640