XML 32 R18.htm IDEA: XBRL DOCUMENT
v3.19.1

Note L - Stock Option Plans | 12 Months Ended
--- | ---
Dec. 31, 2018
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, 2018 or 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 and was later amended in 2016 to increase the maximum number of shares reserved for grant to 4,000,000. In general, options become exercisable over a three -year period from the grant date and expire five years after the date of grant. Milestone Scientific recognizes compensation expense 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, 2018 and 2017, Milestone Scientific recognized $398,301 and $636,058 of total employee compensation cost, respectively. As of December 31, 2018 and 2017, there was $263,974 and $603,979 of total unrecognized compensation cost related to non- vested options, respectively. Milestone Scientific expects to recognize these costs over a weighted average period of 1.75 years and 3.04 years as of December 31, 2018 and 2017, respectively. A summary of option activity for employees under the plans and changes during the years ended December 31, 2018 and 2017 is presented below:
|  | Number of Options |  |  | Weighted Averaged Exercise Price $ |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Options Value $ |
Options outstanding December 31, 2016 |  |  | 1,511,995 |  |  |  | 1.74 |  |  |  | 2.97 |  |  |  | 102,605 |
Granted |  |  | 1,806,741 |  |  |  | 1.82 |  |  |  | 4.69 |  |  |  | 25,610 |
Exercised during 2017 |  |  | (83,333 | ) |  |  | 0.75 |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | (1,250,068 | ) |  |  | - |  |  |  | - |  |  |  | - |
Options outstanding December 31, 2017 |  |  | 1,985,335 |  |  |  | 1.74 |  |  |  | 3.04 |  |  |  | 25,160 |
Exercisable, December 31, 2017 |  |  | 1,317,441 |  |  |  | 1.84 |  |  |  | 2.46 |  |  |  | 8,537 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised during 2018 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | (315,114 | ) |  |  | 1.50 |  |  |  | - |  |  |  | - |
Options outstanding December 31, 2018 |  |  | 1,670,221 |  |  |  | 1.71 |  |  |  | 2.40 |  |  |  | - |
Exercisable, December 31, 2018 |  |  | 1,317,632 |  |  |  | 1.79 |  |  |  | 2.15 |  |  |  | - |
The weighted-average fair value of the options granted during 2018 and 2017 was estimated at $0 and $1.73 respectively, on the date of grant. The fair value for 2018 and 2017 was determined using the Black-Scholes option-pricing model with the following assumptions:
|  | 2018 |  |  | 2017 |
Volatility |  |  | - |  |  |  | 81.23%-97.24% |
Risk-free interest |  |  | - |  |  |  | 1.4%-2.2% |
Expected Life |  | - |  |  | 2-5 years |
Dividend yield |  |  | - |  |  |  | 0 | %
Forfeiture Rate |  |  | - |  |  |  | 6 | %
A summary of option activity for non-employees under the plans and changes during the years ended December 31, 2018 and 2017, is presented below:
|  | Number of Options |  |  | Weighted Averaged Exercise Price $ |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Options Value $ |
Options outstanding December 31, 2016 |  |  | 224,999 |  |  |  | 2.53 |  |  |  | 5.32 |  |  |  | - |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised during 2017 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options outstanding December 31, 2017 |  |  | 224,999 |  |  |  | 2.53 |  |  |  | 4.32 |  |  |  | - |
Exercisable, December 31, 2017 |  |  | 23,067 |  |  |  | 2.22 |  |  |  | 4.38 |  |  |  | - |
Granted |  |  | 8,333 |  |  |  | 0.75 |  |  |  | 4.33 |  |  |  |  |
Exercised during 2018 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | (200,000 | ) |  |  | 2.55 |  |  |  | - |  |  |  | - |
Options outstanding December 31, 2018 |  |  | 33,332 |  |  |  | 1.87 |  |  |  | 2.94 |  |  |  | - |
Exercisable, December 31, 2018 |  |  | 27,777 |  |  |  | 2.10 |  |  |  | 2.66 |  |  |  | - |
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. For the twelve months ended December 31, 2018 and 2017, Milestone Scientific recognized $10,720 and $9,384 expense related to non-employee options, respectively.

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration