Milestone Scientific Inc.: Form 10-Q for the period ended Mar 31, 2023
Filed with the SEC on May 10, 2023 and accepted by EDGAR at May 10, 2023, 16:02 ET.
Market risk
As filed, 162 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
Milestone Scientific is a “smaller reporting company” as defined by Regulation S-K and, as such, is not required to provide the information required by this item.
Controls and procedures
As filed, 1,373 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
Evaluation of Disclosure Controls and Procedures
Milestone Scientific’s Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of the design and operation of Milestone Scientific’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this report. Based upon that evaluation, Milestone Scientific’s Chief Executive Officer and Chief Financial Officer have concluded that the disclosure controls and procedures as of March 31, 2023 are effective to ensure that information required to be disclosed in the reports Milestone Scientific files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to Milestone Scientific's management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.
Changes in Internal Control over Financial Reporting
There have been no changes in Milestone Scientific’s internal control over financial reporting that occurred during the quarter ended March 31, 2023 that have materially affected, or that are reasonably likely to materially affect, Milestone Scientific’s internal controls over financial reporting.
Risk factors
As filed, 167 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
There have been no material changes to the risk factors previously disclosed in Part I, Item 1A, of our 2022 Annual Report.
Item1B. Unresolved Staff Comments
None.
Figures reported in this filing
Standardized line items from the XBRL in this filing, for the period ended 2023-03-31. Comparative periods it repeats are left out.
| Line item | Period | Value | XBRL concept |
|---|---|---|---|
| Revenue | 3 months2023-01-01 to 2023-03-31 | $2.6m | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
| Cost of revenue | 3 months2023-01-01 to 2023-03-31 | $708.1k | us-gaap:CostOfGoodsAndServicesSold |
| Gross profit | 3 months2023-01-01 to 2023-03-31 | $1.9m | us-gaap:GrossProfit |
| Research and development | 3 months2023-01-01 to 2023-03-31 | $140.3k | us-gaap:ResearchAndDevelopmentExpense |
| Selling, general and administrative | 3 months2023-01-01 to 2023-03-31 | $3.1m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 3 months2023-01-01 to 2023-03-31 | −$1.3m | us-gaap:OperatingIncomeLoss |
| Income tax | 3 months2023-01-01 to 2023-03-31 | $0 | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months2023-01-01 to 2023-03-31 | −$1.3m | us-gaap:NetIncomeLoss |
| Basic EPS | 3 months2023-01-01 to 2023-03-31 | −$0.02 | us-gaap:EarningsPerShareBasic |
| Operating cash flow | 3 months2023-01-01 to 2023-03-31 | −$2.0m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months2023-01-01 to 2023-03-31 | $1.2k | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Cash and equivalents | At period end2023-03-31 | $2.3m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | At period end2023-03-31 | $11.6m | us-gaap:AssetsCurrent |
| Total assets | At period end2023-03-31 | $12.3m | us-gaap:Assets |
| Current liabilities | At period end2023-03-31 | $2.7m | us-gaap:LiabilitiesCurrent |
| Total liabilities | At period end2023-03-31 | $3.0m | us-gaap:Liabilities |
| Shareholders' equity | At period end2023-03-31 | $9.5m | us-gaap:StockholdersEquity |
Source: SEC EDGAR, the filing index for accession 0001437749-23-013575. Last ingested by Listed: Oct 24, 2026, 14:58 ET. Listed shows no prices and gives no investment advice.