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Note 12 - Concentrations | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Concentration Risk Disclosure [Text Block] | NOTE 12 -- CONCENTRATIONS Milestone Scientific has informal arrangements with third -party manufacturers of the STA, epidural, and intra-articular devices, pursuant to which they manufacture these products under specific purchase orders but without any long-term contract or minimum purchase commitment. Consequently, advances on contracts have been classified as current on September 30, 2020 and December 31, 2019. The termination of the manufacturing relationship with any of these manufacturers could have a material adverse effect on Milestone Scientific's ability to produce and sell its products. Although alternate sources of supply exist, and new manufacturing relationships could be established, Milestone Scientific would need to recover its existing tools or have new tools produced. Establishment of new manufacturing relationships could involve significant expense and delay. Any curtailment or interruption of the supply, because of termination of such a relationship, would have a material adverse effect on Milestone Scientific's financial condition, business, and results of operations. For the three and nine months ended September 30, 2020, approximately 40% and 45% of the Company's net product sales were from the Company's exclusive domestic dental distributor, respectively. For the three and nine months ended September 30, 2019 net product sales were 54% and 51%, respectively, to the Company's exclusive domestic dental distributor. Accounts receivable for two customers/distributors amounted to approximately $720,000 or 74% , or 60% and 14% of Milestone Scientific's gross accounts receivable as of September 30, 2020, one of which was the Company's exclusive domestic dental distributor. Accounts receivable for the Company's exclusive domestic dental distributor amounted to approximately or 77%, of Milestone Scientific's gross accounts receivable as of December 31, 2019. The Company's exclusive domestic dental distributor exclusivity for the domestic dental market is subject to annual purchase requirements and other requirements, as defined in the agreement. The COVID- 19 pandemic affected the Company's operations in the second quarter and third quarter and may continue to do so indefinitely thereafter. The Company is continuously monitoring its own operations and intends to take appropriate actions to mitigate the risks arising from the COVID- 19 pandemic to the best of its abilities, but there can be no assurances that the Company will be successful in doing so. To the extent the Company is able to obtain information about and maintain communications with its customers, suppliers, vendors, and other business partners, the Company will seek to minimize disruptions to its supply chain and distribution channels, but many circumstances will be beyond the Company's control. Governmental action may further cause the Company to temporarily close its facilities and/or regional quarantines may result in labor shortages and work stoppages. All of these factors may have far reaching direct and indirect impacts on the Company's business, operations, and financial results and condition. The ultimate extent of the effects of the COVID- 19 pandemic on the Company is highly uncertain and will depend on future developments which cannot be predicted.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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