# Milestone Scientific Inc.: Form 10-Q for the period ended Jun 30, 2023

- Company: [Milestone Scientific Inc.](/companies/mlss.md) (CIK 855683)
- Form: 10-Q
- Filed: 2023-08-14
- Accepted by EDGAR: Aug 14, 2023, 16:02 ET
- Period: 2023-06-30
- Accession: 0001437749-23-023652
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/855683/000143774923023652/mlss20230630_10q.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/855683/000143774923023652/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2023-06-30.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 3 months, 2023-04-01 to 2023-06-30 | $2.9m | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
| Revenue | 6 months, 2023-01-01 to 2023-06-30 | $5.5m | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
| Cost of revenue | 3 months, 2023-04-01 to 2023-06-30 | $1.0m | us-gaap:CostOfGoodsAndServicesSold |
| Cost of revenue | 6 months, 2023-01-01 to 2023-06-30 | $1.7m | us-gaap:CostOfGoodsAndServicesSold |
| Gross profit | 3 months, 2023-04-01 to 2023-06-30 | $1.9m | us-gaap:GrossProfit |
| Gross profit | 6 months, 2023-01-01 to 2023-06-30 | $3.8m | us-gaap:GrossProfit |
| Research and development | 3 months, 2023-04-01 to 2023-06-30 | $213.6k | us-gaap:ResearchAndDevelopmentExpense |
| Research and development | 6 months, 2023-01-01 to 2023-06-30 | $354.0k | us-gaap:ResearchAndDevelopmentExpense |
| Selling, general and administrative | 3 months, 2023-04-01 to 2023-06-30 | $3.9m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Selling, general and administrative | 6 months, 2023-01-01 to 2023-06-30 | $7.0m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 3 months, 2023-04-01 to 2023-06-30 | −$2.3m | us-gaap:OperatingIncomeLoss |
| Operating income | 6 months, 2023-01-01 to 2023-06-30 | −$3.6m | us-gaap:OperatingIncomeLoss |
| Net income | 3 months, 2023-04-01 to 2023-06-30 | −$2.2m | us-gaap:NetIncomeLoss |
| Net income | 6 months, 2023-01-01 to 2023-06-30 | −$3.5m | us-gaap:NetIncomeLoss |
| Basic EPS | 3 months, 2023-04-01 to 2023-06-30 | −$0.03 | us-gaap:EarningsPerShareBasic |
| Basic EPS | 6 months, 2023-01-01 to 2023-06-30 | −$0.05 | us-gaap:EarningsPerShareBasic |
| Operating cash flow | 6 months, 2023-01-01 to 2023-06-30 | −$3.0m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Cash and equivalents | at 2023-06-30 | $3.7m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2023-06-30 | $10.5m | us-gaap:AssetsCurrent |
| Total assets | at 2023-06-30 | $11.2m | us-gaap:Assets |
| Current liabilities | at 2023-06-30 | $3.1m | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2023-06-30 | $3.4m | us-gaap:Liabilities |
| Shareholders' equity | at 2023-06-30 | $7.9m | us-gaap:StockholdersEquity |

## Market risk

As filed, 162 characters.

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, 1,371 characters.

#### 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 June 30, 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 June 30, 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.

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.

Filed Aug 14, 2023.
Source: SEC EDGAR, the filing index for accession 0001437749-23-023652. Last ingested by Listed: Oct 24, 2026, 14:58 ET. No prices; not investment advice.