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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Product sales, net $ 2,215,699 $ 2,108,233 $ 6,564,969 $ 7,458,678
Cost of products sold 762,964 747,997 2,749,160 2,926,794
Gross profit 1,452,735 1,360,236 3,815,809 4,531,884
Selling, general and administrative expenses 3,283,378 2,968,625 9,681,326 9,729,594
Research and development expenses 166,191 356,179 897,218 588,043
Depreciation and amortization expense 16,661 16,353 50,121 52,113
Total operating expenses 3,466,230 3,341,157 10,628,665 10,369,750
Loss from operations (2,013,495) (1,980,921) (6,812,856) (5,837,866)
Interest income (expense) 28,012 (4,608) 26,819 (11,604)
Gain on debt extinguishment-PPP 0 0 0 276,180
Loss before provision for income taxes and equity investments (1,985,483) (1,985,529) (6,786,037) (5,573,290)
Provision for income taxes 0 0 0 (333)
Loss before equity investment (1,985,483) (1,985,529) (6,786,037) (5,573,623)
Deferred profit and divesture-equity investment (See Note 6) 0 (69,905) 0 (164,461)
Net loss (1,985,483) (2,055,434) (6,786,037) (5,738,084)
Net loss attributable to noncontrolling interests (13,680) (12,227) (54,030) (41,540)
Net loss attributable to Milestone Scientific Inc. $ (1,971,803) $ (2,043,207) $ (6,732,007) $ (5,696,544)
Net loss per share applicable to common stockholders—        
Basic (in dollars per share) $ (0.03) $ (0.03) $ (0.10) $ (0.08)
Diluted (in dollars per share) $ (0.03) $ (0.03) $ (0.10) $ (0.08)
Weighted average shares outstanding and to be issued—        
Basic (in shares) 70,975,420 69,573,795 70,480,706 68,609,143
Diluted (in shares) 70,975,420 69,573,795 70,480,706 68,609,143