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| | Business Summary: Milestone Scientific Inc. provides technologies and solutions for the medical and dental markets in the United States and internationally. The company's products are based on an automated drug delivery technology `CompuFlo'. | | | Address
220 South Orange Avenue
Livingston
, NJ 07039
Phone: 973-535-2717
Fax: 973-535-2829
Website: http://www.milesci.com
| | | Transfer Agent |
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Continental Stock Transfer and Trust Co.
| Employees: 14
ShareHolders: 2500 | Founded: 1989
Domicile: Delaware | | | |
| | Milestone Scientific Inc. provides technologies and solutions for the medical and dental markets in the United States and internationally. The company's products are based on an automated drug delivery technology `CompuFlo'. Its principal products include STA Single Tooth Anesthesia System, a computer-controlled local anesthesia delivery system that incorporates the `pressure feedback' elements of its patented CompuFlo technology, which allows dentists to administer injections into the periodontal ligament space; CompuDent, a computer-controlled local anesthetic delivery system, which delivers anesthesia at a precise and consistent rate below a patient's pain threshold for dental treatments, such as root canals, crowns, fillings, and cleanings; and CompuMed, a computer-controlled injection system used in various applications, such as orthopedics, colorectal surgery, podiatry, dermatology, nasal and sinus surgery, cosmetic surgery, and hair transplantation. The company also provides the Wand, a hand piece that delivers AMSA, P-ASA, and Modified-PDL injections; and SafetyWand, a safety-engineered injection device that serves the clinical needs of dental and medical practitioners. It sells its products through sales and distribution partners. Milestone Scientific Inc. was founded in 1989 and is headquartered in Piscataway, New Jersey. | | History: INCORPORATED in Delaware Aug. 17, 1989. Name changed from U.S. Opportunity Search, Inc. to Milestone Scientific Inc. Dec. 6, 1996. | | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2009 | 52 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2009 | 241 |
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Management
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| Officers | Position |
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| Leslie Bernhard | Chairman | | Leonard A. Osser | Chief Executive Officer | | Joseph D'Agostino | Chief Financial Officer | | Dodi Handy | Investor Relations Contact |
| | Directors |
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| Leslie Bernhard | | Jeffrey Fuller | | Leonard A. Osser | | Leonard M. Schiller | | Pablo Felipe Serna Cardenas | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 50,000,000 | 14,778,474so1 |
| | | | LONG TERM DEBT: $577,546. | | | | Common $0.001 par | | | | UNITS OFFERED: February 27, 2004, the company, through underwriters Paulson Investment Company, Inc. and S.W. Bach & Company, offered 1,440,000 Units (each Unit consisting of two Common shares and one Warrant) at $6.52 per Unit; comm., $0.4564 per Unit. Each warrant entitled the holder to buy one Common share for five years from the closing of the offering at $4.89 per share. In addition, the underwriters received warrants to purchase 144,000 Units at $7.842 per Unit. | | | |
Stockholders:
12/31/2009,
2500.
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Transfer Agent: Continental Stock Transfer and Trust Co.
New York
, NY | | | | OTC Bulletin Board( Primary): MLSS | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 1.9500 | 0.2500 | | OTC Bulletin Board | 2008 | 1.6500 | 0.1000 | | OTC Bulletin Board | 2007 | 3.9400 | 1.1000 | | OTC Bulletin Board | 2006 | 1.7500 | 0.8000 | | American Stock Exchange | 2005 | 4.3000 | 1.1000 | | American Stock Exchange | 2004 | 3.7500 | 1.5000 | | American Stock Exchange | 2003 | 2.8000 | 0.1400 | | American Stock Exchange | 2002 | 1.0000 | 0.0100 | | American Stock Exchange | 2001 | 2.2500 | 0.4600 | | American Stock Exchange | 2000 | 6.0000 | 0.7500 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-3, Jan. 14, 2004. | | | | | |
so1Excl. 33,333 in treas. | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| REVENUES |
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| | Product Sales-net | 8,549,060 | 6,595,525 | | Royalty Income | - | 28,282 | | Total Revenues | 8,549,060 | 6,623,807 | | EXPENSES |
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| | Cost of Sales | (3,458,279) | (2,681,116) | | Selling, General and Administrative Expenses | (6,952,976) | (5,502,762) | | Research and Development Expenses | (241,318) | (168,516) | | Interest Expense | (154,027) | (116,374) | | Amortized Debt Issuance | (53,300) | (27,446) | | Interest Income | 3,146 | 9,023 | | Other Income | 777,609 | 675,930 | | Earnings before Taxes | (1,530,085) | (1,187,454) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (1,530,085) | (1,187,454) | | SUPPLEMENTARY INFO |
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| | Gross Profit/loss | 5,090,781.00 | 3,942,691.00 | | Operating Income (Loss) | (2,103,513.00) | (1,728,587.00) | | Basic EPS - Continuing Operations | (0.11) | (0.09) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| CURRENT ASSETS |
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| | Cash and Cash Equivalents | 1,029,129 | 743,665 | | Accounts Receivables | 1,063,742 | 925,742 | | Inventories | 804,736 | 719,902 | | Prepaid Expenses and Other Current Assets | 254,501 | 218,296 | | Advances to Contract Manufacturer | 151,995 | 250,110 | | Total Current Assets | 3,304,103 | 2,857,715 | | NON CURRENT ASSETS |
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| | Furniture, Fixtures and Equipments | 77,353 | 152,574 | | Investment in Distributor, At Cost | 76,319 | 76,319 | | Patents | 947,315 | 901,045 | | Other Assets | 133,674 | 7,317 | | Advances to Contract Manufacturer-long-term | 311,230 | 415,780 | | Total Assets | 4,849,994 | 4,410,750 | | CURRENT LIABILITIES |
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| | Accounts Payable | 1,154,013 | 829,130 | | Accrued Expenses and Other Payable | 524,017 | 495,897 | | Total Current Liabilities | 1,678,030 | 1,325,027 | | NON CURRENT LIABILITIES |
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| | Total Long-term Liabilities | 530,843 | 1,685,543 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 15,472 | 13,200 | | Additional Paid in Capital | 62,300,620 | 59,531,860 | | Treasury Stock - Common | (911,516) | (911,516) | | Accumulated Deficit | (58,763,460) | (57,233,370) | | Total Shareholders Equity | 2,641,121 | 1,400,180 | | Total Liabilities & Shareholders Equity | 4,849,994 | 4,410,750 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 2,560,000 | | 2009 |
1 | 2,200,000 | | 2009 |
2 | 2,040,000 | | 2009 |
3 | 1,910,000 | | 2009 |
4 | 2,400,000 | | 2009 |
Full Year
| 8,550,000 | | 2008 |
1 | 1,400,000 | | 2008 |
2 | 1,550,000 | | 2008 |
3 | 1,820,000 | | 2008 |
4 | 1,850,000 | | 2008 |
Full Year
| 6,620,000 | | 2007 |
1 | 2,310,000 | | 2007 |
2 | 1,810,000 | | 2007 |
3 | 1,160,000 | | 2007 |
4 | 1,110,000 | | 2007 |
Full Year
| 6,390,000 | | 2006 |
1 | 1,700,000 | | 2006 |
2 | 1,480,000 | | 2006 |
3 | 1,220,000 | | 2006 |
4 | 1,450,000 | | 2006 |
Full Year
| 5,840,000 | | 2005 |
1 | 1,460,000 | | 2005 |
2 | 1,680,000 | | 2005 |
3 | 1,820,000 | | 2005 |
4 | 1,480,000 | | 2005 |
Full Year
| 6,430,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 80,000 | | 2009 |
1 | (560,000) | | 2009 |
2 | (660,000) | | 2009 |
3 | (370,000) | | 2009 |
4 | 60,000 | | 2009 |
Full Year
| (1,530,000) | | 2008 |
1 | (620,000) | | 2008 |
2 | (470,000) | | 2008 |
3 | (190,000) | | 2008 |
4 | 90,000 | | 2008 |
Full Year
| (1,190,000) | | 2007 |
1 | (530,000) | | 2007 |
2 | (1,070,000) | | 2007 |
3 | (980,000) | | 2007 |
4 | (350,000) | | 2007 |
Full Year
| (2,940,000) | | 2006 |
1 | (690,000) | | 2006 |
2 | (950,000) | | 2006 |
3 | (620,000) | | 2006 |
Full Year
| (3,152,300) | | 2005 |
1 | (880,000) | | 2005 |
2 | (790,000) | | 2005 |
3 | (610,000) | | 2005 |
Full Year
| (2,754,200) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | .01 | | 2009 |
1 | (.04) | | 2009 |
2 | (.05) | | 2009 |
3 | (.03) | | 2009 |
4 | Nil | | 2009 |
Full Year
| (.11) | | 2008 |
1 | (.05) | | 2008 |
2 | (.04) | | 2008 |
3 | (.01) | | 2008 |
4 | .01 | | 2008 |
Full Year
| (.09) | | 2007 |
1 | (.05) | | 2007 |
2 | (.09) | | 2007 |
3 | (.08) | | 2007 |
4 | (.03) | | 2007 |
Full Year
| (.24) | | 2006 |
1 | (.06) | | 2006 |
2 | (.08) | | 2006 |
3 | (.05) | | 2006 |
4 | (.07) | | 2006 |
Full Year
| (.27) | | 2005 |
1 | (.09) | | 2005 |
2 | (.07) | | 2005 |
3 | (.05) | | 2005 |
4 | (.04) | | 2005 |
Full Year
| (.25) |
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