XML 34 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note P - Concentration
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]
NOTE P
 -- CONCENTRATION
 
 
Milestone Scientific has informal arrangements with a
third
-party manufacturer of the STA, CompuDent®
and CompuMed® instruments, pursuant to which they manufacture these products under specific purchase orders but without any long-term contract or minimum purchase commitment. In
March 2016,
Milestone Scientific entered into a purchase commitment for delivery of
3,000
instruments, as of
December 31, 2017
all instruments have been received.
In
January 2017
Milestone Scientific entered into a purchase commitment for the delivery of
2,000
instruments beginning in the
4th
quarter of
2017.
An advance of
$697,192
was recorded at
December 31, 2017.
At
December 31, 2017,
Milestone Scientific’s purchase commitment for this purchase order was
$300,460.
An advance of
$656,752
was recorded at
December 31, 2016.
At
December 31, 2016,
Milestone Scientific’s purchase commitment for this purchase order was
$272,231.
Consequently, advances on contracts have been classified as current at
December 31, 2017
and
2016
respectively.    
 
            
For
twelve
months ended
December 31, 2017,
an aggregate of approximately
70%
of Milestone Scientific's net product sales were to
two
customers/ distributors (
one
of which, Milestone China, is a related party),
51%
and
19%,
respectively. For
twelve
months ended
December 31, 2016,
an aggregate of approximately
58%
of Milestone Scientific's net product sales were to
two
customers/distributors (
one
of which, Milestone China, is a related party),
31%,
and
27%,
respectively. Accounts receivable for the major customer/distributors amounted to an aggregate of approximately
$2,555,476,
or
78%
of Milestone Scientific's accounts receivable for
twelve
months ended
December 31, 2017.
  Accounts receivable for the major customer/distributors amounted to an aggregate of approximately
$2,994,686,
or
85%
of Milestone Scientific's accounts receivable for
twelve
months ended
December 31, 2016.