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Note H - Stockholders' Equity | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Equity [Text Block] | NOTE H — STOCKHOLDERS’ EQUITY PUBLIC OFFERING On December 10, 2023, the Company completed a public offering for sale of 4,765,000 common stock, at $0.63 per share which generated net proceeds of approximately $2.6 million. In addition, the Company granted the Underwriter a 45-day option to purchase up to an additional 714,750 shares of Common Stock at the same price to cover over-allotments. Refer to subsequent event note Q. NONCONTROLLING INTEREST During December 2023, the Board of Directors of the Company approved a resolution to merge Milestone Medical, Inc. with and into a newly created, wholly owned subsidiary, Milestone Innovations, Inc., a Delaware corporation, with Milestone Innovations, Inc. as the surviving entity. As a result of such merger, the public stockholders are entitled to receive for their shares traded on the Warsaw Stock Exchange an aggregate of approximately $214,000, and Milestone Medical, Inc. has been de-listed, no longer requiring reports and other filings in Poland. The Company accounted for the transaction as a transfer between entities under common control pursuant to ASC 805, Business Combinations ("ASC 805"). Due to the nature of the transaction, the Company did not remeasure the transferred assets at fair value but recorded them at their carrying basis at the time of transfer pursuant to ASC 805. As the Company was acquiring an additional interest in Milestone Medical, the Company accounted for the transaction as a capital transaction pursuant to ASC 810, Consolidation, as the Company retained control of both Milestone Medical, Inc. and Milestone, Innovations, Inc prior to and subsequent to the transaction. As of December 31, 2023, the Company recorded a liability due to the minority shareholder of Milestone Medical. The Company recorded a charge to additional paid in capital of approximately $485,000 which includes the reclassification of accumulated deficit attributed to the non-controlling interest on the date of the transaction and payable to non-controlling interest holders as a result of this transaction. WARRANTS The following table summarizes information about shares issuable under warrants outstanding on December 31, 2023:
|  | Warrant shares outstanding |  |  | Weighted Average exercise price |  |  | Weighted Average remaining life |  |  | Intrinsic value |
Outstanding at January 1, 2023 |  |  | 4,268,221 |  |  |  | 2.18 |  |  |  | 0.50 |  |  |  | - |
Issued |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired or cancelled |  |  | (3,953,649 | ) |  |  | - |  |  |  | - |  |  |  | - |
Outstanding and exercisable at December 31,2023 |  |  | 314,572 |  |  |  | 0.50 |  |  |  | 0.10 |  |  |  | 59,737 |
SHARES TO BE ISSUED As of December 31, 2023 and 2022, there were 2,571,292 and 2,057,976, respectively shares to be issued whose issuance has been deferred under the terms of an employment agreements with the former Interim Chief Executive Officer, former Chief Financial Officer, and other employees of Milestone Scientific. Such shares will be issued to each party upon termination of their employment. As of December 31, 2023 and 2022, there were 527,625 and 382,697 respectively shares to be issued to non-employees, that will be issued to non-employees for services rendered. The number of shares was fixed at the date of grant and were fully vested upon grant date. The following table summarizes information about shares to be issued on December 31, 2023 and 2022.
|  | 2023 |  |  | 2022 |
Shares-to-be-issued, outstanding January 1, respectively |  |  | 2,440,673 |  |  |  | 2,066,343 |
Granted in current period |  |  | 658,244 |  |  |  | 524,814 |
Issued in current period |  |  | - |  |  |  | (150,484 | )
Shares-to be issued outstanding December 31, respectively |  |  | 3,098,917 |  |  |  | 2,440,673 |

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