XML 29 R20.htm IDEA: XBRL DOCUMENT
v3.25.3

COMMITMENTS | 9 Months Ended
--- | ---
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS | NOTE 13 — COMMITMENTS (1) Contract Manufacturing Agreement Milestone Scientific has informal arrangements with third-party manufacturers of the STA devices and epidural instruments pursuant to which they manufacture these products under specific purchase orders but without any long-term contract or minimum purchase commitment. The Company has a purchase commitment for the delivery of 2,000 STA instruments as of September 30, 2025. As of September 30, 2025, the purchase order commitment was approximately $2.3 million, and approximately $1.1 million was paid and reported in advance on contracts in the unaudited consolidated balance sheet. As of September 30, 2025 the Company recorded approximately $306,000 for the development of the next generation instrument in advances on contracts in the unaudited consolidated balance sheet. As of December 31, 2024, the purchase order commitment was approximately $3.2 million, and approximately $932,000 was paid and reported in advance on contracts in the consolidated balance sheet. The advances in contracts represent funding for future epidural instruments and epidural replacement parts. As of September 30, 2025, and December 31, 2024, the company also has advances on an open purchase order for long lead items for a future purchase order for the manufacturing of Epidural instruments of approximately $34,000 and $168,000, respectively. (2) Operating Leases The Company identified and assessed the following significant assumptions in recognizing its right-of-use assets and corresponding lease liabilities:
● | As the Company’s leases do not provide an implicit rate, the Company estimated the incremental borrowing rate in calculating the present value of the lease payments. The Company has utilized its incremental borrowing rate based on the long-term borrowing costs of comparable companies in the Medical Device industry.
● | Since the Company elected to account for each lease component and its associated non-lease components as a single combined lease component, all contract consideration was allocated to the combined lease component.
● | The expected lease terms include non-cancellable lease periods. Renewal option periods are not included in the determination of the lease terms as they were not reasonably certain to be exercised.
The components of lease expense were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE
|  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
|  | Three Months |  |  | Nine Months |
|  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
Cash paid for operating lease liabilities |  | $ | 31,882 |  |  | $ | 30,373 |  |  | $ | 95,645 |  |  | $ | 95,645 |
Cash paid for finance lease liabilities |  |  | 3,417 |  |  |  | 2,685 |  |  |  | 10,251 |  |  |  | 8,055 |
Weighted Average Remaining Lease Term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance leases (years) |  |  |  |  |  |  |  |  |  |  | 4.50 years |  |  |  | 0.29 years |
Operating leases (years) |  |  |  |  |  |  |  |  |  |  | 1.5 years |  |  |  | 2.50 years |
Weighted-average discount rate – operating leases |  |  |  |  |  |  |  |  |  |  | 9.20 | % |  |  | 9.20 | %
Weighted-average discount rate – finance leases |  |  |  |  |  |  |  |  |  |  | 9.20 | % |  |  | 9.20 | %

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

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 405 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/405-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/450/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 440 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478522/954-440-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/440/tableOfContent + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration