Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 15,977,330 $ 14,223,917
Accounts receivable, net 812,341 1,080,656
Accounts receivable, related party net 0 0
Prepaid expenses and other current assets 442,295 415,915
Inventories, net 1,479,391 2,420,179
Advances on contracts 1,393,817 414,202
Total current assets 20,105,174 18,554,869
Furniture, fixtures and equipment, net 30,749 30,729
Intangibles, net 306,544 329,249
Right of use assets 593,049 632,453
Other assets 24,150 24,150
Total assets 21,059,666 19,571,450
Current liabilities:    
Accounts payable 582,684 482,972
Accounts payable, related party 201,887 385,138
Accrued expenses and other payables 1,390,560 824,454
Accrued expenses, related party 352,209 586,734
Current portion of finance leases liabilities 8,162 7,796
Current portion of operating lease right-of-use liabilities 76,008 72,031
Deferred profit, related party 337,145 242,589
Note payable 0 276,180
Total current liabilities 2,948,655 2,877,894
Finance lease liabilities 24,433 28,607
Operating lease liabilities 518,408 557,981
Total liabilities 3,491,496 3,464,482
Commitments and contingencies
Stockholders’ equity    
Common stock, par value $.001; authorized 100,000,000 shares; 67,055,869 shares issued and 67,022,536 shares outstanding as of June 30, 2021; 64,171,435 shares issued and 64,138,102 shares outstanding as of December 31, 2020; 67,055 64,171
Additional paid in capital 123,075,664 117,934,696
Accumulated deficit (104,539,294) (100,885,957)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total Milestone Scientific Inc. stockholders' equity 17,691,909 16,201,394
Noncontrolling interest (123,739) (94,426)
Total stockholders’ equity 17,568,170 16,106,968
Total liabilities and stockholders’ equity $ 21,059,666 $ 19,571,450