$MLSS
MILESTONE SCIENTIFIC INC.

2015 Q2 Form 10-Q Financial Statement

#000119312515290050 Filed on August 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q4 2014 Q2
Revenue $1.767M $2.670M $2.507M
YoY Change -29.53% -4.64% 9.95%
Cost Of Revenue $570.7K $1.010M $912.4K
YoY Change -37.45% 5.21% 23.3%
Gross Profit $1.196M $1.660M $1.595M
YoY Change -24.99% -9.29% 4.22%
Gross Profit Margin 67.7% 62.17% 63.6%
Selling, General & Admin $2.591M $2.660M $1.518M
YoY Change 70.69% 78.52% 13.27%
% of Gross Profit 216.62% 160.24% 95.19%
Research & Development $18.82K $10.00K $29.17K
YoY Change -35.47% 0.0% -27.09%
% of Gross Profit 1.57% 0.6% 1.83%
Depreciation & Amortization $10.00K $30.00K $30.00K
YoY Change -66.67% 0.0% 0.0%
% of Gross Profit 0.84% 1.81% 1.88%
Operating Expenses $2.610M $2.660M $1.547M
YoY Change 68.69% 76.16% 11.3%
Operating Profit -$1.414M -$1.000M $47.51K
YoY Change -3075.74% -412.5% -66.07%
Interest Expense -$1.130K -$360.0K $635.00
YoY Change -277.95% -152.17% -97.88%
% of Operating Profit 1.34%
Other Income/Expense, Net -$1.130K $0.00 -$217.0K
YoY Change -99.48% -381.39%
Pretax Income -$2.105M -$1.360M -$169.5K
YoY Change 1142.22% -233.33% -342.08%
Income Tax $13.65K $10.00K $0.00
% Of Pretax Income
Net Earnings -$2.073M -$1.370M -$169.5K
YoY Change 1123.29% -234.31% -328.97%
Net Earnings / Revenue -117.33% -51.31% -6.76%
Basic Earnings Per Share -$0.09 -$0.01
Diluted Earnings Per Share -$0.09 -$64.05K -$0.01
COMMON SHARES
Basic Shares Outstanding 22.41M 20.25M shares
Diluted Shares Outstanding 25.11M 20.25M shares

Balance Sheet

Concept 2015 Q2 2014 Q4 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.000M $10.37M $10.62M
YoY Change -34.09% 801.74% 6147.06%
Cash & Equivalents $1.447M $10.37M $1.122M
Short-Term Investments $5.550M $9.500M
Other Short-Term Assets $810.0K $450.0K $160.0K
YoY Change 406.25% 200.0% 0.0%
Inventory $3.240M $2.497M $3.420M
Prepaid Expenses
Receivables $1.635M $1.541M $1.440M
Other Receivables $1.000M $0.00 $0.00
Total Short-Term Assets $14.41M $15.58M $15.64M
YoY Change -7.87% 219.33% 466.77%
LONG-TERM ASSETS
Property, Plant & Equipment $117.3K $88.82K $40.00K
YoY Change 193.26% 270.26% 30.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $300.0K $1.260M $800.0K
YoY Change -62.5% 2894.15% 1500.0%
Other Assets $17.36K $14.69K $10.00K
YoY Change 73.55% 13.69% 36.67%
Total Long-Term Assets $931.1K $1.895M $1.620M
YoY Change -42.53% -40.33% -43.72%
TOTAL ASSETS
Total Short-Term Assets $14.41M $15.58M $15.64M
Total Long-Term Assets $931.1K $1.895M $1.620M
Total Assets $15.34M $17.48M $17.26M
YoY Change -11.12% 116.97% 206.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $795.9K $1.454M $980.0K
YoY Change -18.78% -28.04% -34.92%
Accrued Expenses $1.140M $981.2K $750.0K
YoY Change 52.0% 88.69% 82.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.940M $2.435M $1.950M
YoY Change -0.53% -3.96% -22.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.940M $2.435M $1.950M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.780M $2.830M $1.950M
YoY Change 42.56% 11.42% -34.47%
SHAREHOLDERS EQUITY
Retained Earnings -$64.46M -$61.97M
YoY Change
Common Stock $77.93M $77.53M
YoY Change 16.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $911.5K $911.5K
YoY Change
Treasury Stock Shares 33.33K shares $33.33K $33.33K
Shareholders Equity $12.56M $14.65M $15.31M
YoY Change
Total Liabilities & Shareholders Equity $15.34M $17.48M $17.26M
YoY Change -11.12% 116.97% 206.15%

Cashflow Statement

Concept 2015 Q2 2014 Q4 2014 Q2
OPERATING ACTIVITIES
Net Income -$2.073M -$1.370M -$169.5K
YoY Change 1123.29% -234.31% -328.97%
Depreciation, Depletion And Amortization $10.00K $30.00K $30.00K
YoY Change -66.67% 0.0% 0.0%
Cash From Operating Activities -$1.730M $380.0K -$110.0K
YoY Change 1472.73% -53.66% -222.22%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K -$30.00K -$20.00K
YoY Change 100.0% 200.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities -$6.530M -$810.0K -$9.620M
YoY Change -32.12% 268.18% 19140.0%
Cash From Investing Activities -$6.560M -$840.0K -$9.640M
YoY Change -31.95% 265.22% 15966.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 410.0K 550.0K 9.460M
YoY Change -95.67% 243.75% 94500.0%
NET CHANGE
Cash From Operating Activities -1.730M 380.0K -110.0K
Cash From Investing Activities -6.560M -840.0K -9.640M
Cash From Financing Activities 410.0K 550.0K 9.460M
Net Change In Cash -7.880M 90.00K -290.0K
YoY Change 2617.24% -88.0% -825.0%
FREE CASH FLOW
Cash From Operating Activities -$1.730M $380.0K -$110.0K
Capital Expenditures -$40.00K -$30.00K -$20.00K
Free Cash Flow -$1.690M $410.0K -$90.00K
YoY Change 1777.78% -50.6% -190.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
21438093 shares
CY2014Q2 us-gaap Share Price
SharePrice
1.84
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1121721
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
33333 shares
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2015Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21404760 shares
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
1003606 shares
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
21438093 shares
CY2015Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
77908947
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
12560095
CY2015Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
611606
CY2015Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
795919
CY2015Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5000
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-64459785
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
15340274
CY2015Q2 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
1143719
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
22442
CY2015Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13400636
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
430140
CY2015Q2 us-gaap Minority Interest
MinorityInterest
840541
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1939638
CY2015Q2 us-gaap Notes Receivable Net
NotesReceivableNet
1000000
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17355
CY2015Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
6997609
CY2015Q2 us-gaap Assets
Assets
15340274
CY2015Q2 us-gaap Inventory Net
InventoryNet
3240398
CY2015Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1635098
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
117304
CY2015Q2 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
723067
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
911516
CY2015Q2 us-gaap Assets Current
AssetsCurrent
14409204
CY2015Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5550283
CY2015Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
343251
CY2015Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
495382
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
469781
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1447326
CY2015Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
723067
CY2015Q2 mlss Accounts Receivable Net Current And Noncurrent
AccountsReceivableNetCurrentAndNoncurrent
1150101
CY2015Q2 mlss Working Capital
WorkingCapital
12469566
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1147198
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
33333 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21371161 shares
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
974953 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
21404494 shares
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
77504415
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
14647824
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
576960
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1453908
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-61967462
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
17477428
CY2014Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
981168
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
22380
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15042352
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
416210
CY2014Q4 us-gaap Minority Interest
MinorityInterest
394528
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2435076
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
14685
CY2014Q4 us-gaap Assets
Assets
17477428
CY2014Q4 us-gaap Inventory Net
InventoryNet
2497099
CY2014Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1541478
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
88818
CY2014Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
721197
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
911516
CY2014Q4 us-gaap Assets Current
AssetsCurrent
15582333
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
530029
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
454566
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10367993
CY2014Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
721197
CY2014Q4 mlss Accounts Receivable Net Current And Noncurrent
AccountsReceivableNetCurrentAndNoncurrent
1099804
CY2014Q4 mlss Working Capital
WorkingCapital
13147257
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
171628
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22206942 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
14408 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19196919 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21189
us-gaap Net Income Loss
NetIncomeLoss
25377
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
161
us-gaap Profit Loss
ProfitLoss
25377
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-16491
us-gaap Operating Income Loss
OperatingIncomeLoss
376754
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
642738
us-gaap Gross Profit
GrossProfit
3332363
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-351377
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-89470
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
9498498
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
25377
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
23750
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5127766
us-gaap Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
209000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-25477
us-gaap Operating Expenses
OperatingExpenses
2955609
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-9700038
us-gaap Pension Expense
PensionExpense
68000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
9502933
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44885
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
239404
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
103250
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-50000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2910724
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
39185
us-gaap Cost Of Goods Sold
CostOfGoodsSold
1795403
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-986396
us-gaap Depreciation
Depreciation
7024
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
9449683
mlss Stock Issued Directors Compensation
StockIssuedDirectorsCompensation
55200
mlss Common Stock And Options Issued For Compensation Consulting And Vendor Services
CommonStockAndOptionsIssuedForCompensationConsultingAndVendorServices
188603
mlss Stock Issued Employees Compensation
StockIssuedEmployeesCompensation
23750
mlss Stock Issued During Period To Purchase Option Of Directors Value
StockIssuedDuringPeriodToPurchaseOptionOfDirectorsValue
41250
mlss Increase Decrease To Advances To Contract Manufacturer
IncreaseDecreaseToAdvancesToContractManufacturer
-634670
mlss Stock Issued During Period Shares Stock Options Exercised Attributable To Employees And Consultants
StockIssuedDuringPeriodSharesStockOptionsExercisedAttributableToEmployeesAndConsultants
195000 shares
mlss Stock Issued During Period Value Stock Options Exercised Attributable To Employees And Consultants
StockIssuedDuringPeriodValueStockOptionsExercisedAttributableToEmployeesAndConsultants
62000
mlss Stock Issued During Period To Purchase Option Of Employees Value
StockIssuedDuringPeriodToPurchaseOptionOfEmployeesValue
24000
mlss Stock Issued During Period To Purchase Option Of Consultants Value
StockIssuedDuringPeriodToPurchaseOptionOfConsultantsValue
38000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2410087
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000855683
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
MILESTONE SCIENTIFIC INC.
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25132192 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
13167 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22390332 shares
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Trading Symbol
TradingSymbol
MLSS
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
226844
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42418
us-gaap Net Income Loss
NetIncomeLoss
-2492323
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
80
us-gaap Profit Loss
ProfitLoss
-2546310
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
15215
us-gaap Operating Income Loss
OperatingIncomeLoss
-1484830
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
743299
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2670
us-gaap Gross Profit
GrossProfit
3033086
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1047834
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
93620
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
30000
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-677691
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5550283
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2532664
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
500000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
15000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
4536963
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
1000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13646
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8920667
us-gaap Operating Expenses
OperatingExpenses
4517916
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-7023330
us-gaap Pension Expense
PensionExpense
102000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
512750
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28938
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
162551
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
12750
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
500000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4488978
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
34647
us-gaap Cost Of Goods Sold
CostOfGoodsSold
1503877
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-657989
us-gaap Depreciation
Depreciation
13930
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-53987
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
13000
mlss Number Of Customers
NumberOfCustomers
3 Customer
mlss Additional Percentage Of Director Compensation Sales Value Using Other Kind Of Technology
AdditionalPercentageOfDirectorCompensationSalesValueUsingOtherKindOfTechnology
0.05 pure
mlss Common Stock And Options Issued For Compensation Consulting And Vendor Services
CommonStockAndOptionsIssuedForCompensationConsultingAndVendorServices
391844
mlss Effective Income Tax Rate Reconciliation At Federal Statutory Rate And State And Local Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryRateAndStateAndLocalIncomeTaxRate
0.40 pure
mlss Additional Percentage Of Director Compensation On Sales Value Using Certain Specify Technology
AdditionalPercentageOfDirectorCompensationOnSalesValueUsingCertainSpecifyTechnology
0.025 pure
mlss Stock Issued Employees Compensation
StockIssuedEmployeesCompensation
35000
mlss Sales Credit Period
SalesCreditPeriod
P90D
mlss Increase Decrease To Advances To Contract Manufacturer
IncreaseDecreaseToAdvancesToContractManufacturer
1870
mlss Increase Decrease In Due From Related Parties Investing Activities
IncreaseDecreaseInDueFromRelatedPartiesInvestingActivities
-430629
mlss Stock Issued During Period Shares Stock Options Exercised Attributable To Employees And Consultants
StockIssuedDuringPeriodSharesStockOptionsExercisedAttributableToEmployeesAndConsultants
8333 shares
mlss Stock Issued During Period Value Stock Options Exercised Attributable To Employees And Consultants
StockIssuedDuringPeriodValueStockOptionsExercisedAttributableToEmployeesAndConsultants
12750
mlss Stock To Be Issued Value To Employee For Bonuses
StockToBeIssuedValueToEmployeeForBonuses
100000
mlss Stock Issued During Period Value Issued To Employees For Bonuses
StockIssuedDuringPeriodValueIssuedToEmployeesForBonuses
20000
mlss Stock Issued During Period Value Stock Options Exercised Attributable To Consultants
StockIssuedDuringPeriodValueStockOptionsExercisedAttributableToConsultants
12750
mlss Stock Issued During Period To Purchase Option Of Consultants Value
StockIssuedDuringPeriodToPurchaseOptionOfConsultantsValue
30000
mlss Stock To Be Issued To Employees For Bonuses Value
StockToBeIssuedToEmployeesForBonusesValue
100000
CY2014Q1 us-gaap Payments For Postemployment Benefits
PaymentsForPostemploymentBenefits
203111
CY2014Q1 mlss Define Benefit Plan Payment Period
DefineBenefitPlanPaymentPeriod
P5Y
CY2014Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
10000000
CY2015Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
10000000
CY2015Q2 mlss Proceeds From Issuance Or Sale Of Equity Net
ProceedsFromIssuanceOrSaleOfEquityNet
9400000
CY2013Q3 us-gaap Servicing Fees
ServicingFees
100000
CY2013Q3 mlss Service Agreement Period
ServiceAgreementPeriod
P3Y
CY2014Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
912406
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
1547019
CY2014Q2 us-gaap Pension Expense
PensionExpense
51000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29165
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1517854
CY2014 mlss Number Of Customers
NumberOfCustomers
1 Customer
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20246281 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20246281 shares
CY2014Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
75000 shares
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-169457
CY2014Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
41250
CY2014Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
635
CY2014Q2 us-gaap Profit Loss
ProfitLoss
-169457
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
47507
CY2014Q2 us-gaap Gross Profit
GrossProfit
1594526
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-216964
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-169457
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2506932
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25114399 shares
CY2015Q2 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
13167 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22405897 shares
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-2072949
CY2015Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1130
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-2118676
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1413687
CY2015Q2 us-gaap Gross Profit
GrossProfit
1196030
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-691343
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2105030
CY2015Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
35000
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1766759
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13646
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
2609717
CY2015Q2 us-gaap Pension Expense
PensionExpense
51000
CY2015Q2 mlss Stock Issued During Period Shares Stock Options Exercised Attributable To Employees And Consultants
StockIssuedDuringPeriodSharesStockOptionsExercisedAttributableToEmployeesAndConsultants
8333 shares
CY2015Q2 mlss Stock Issued During Period Value Stock Options Exercised Attributable To Employees And Consultants
StockIssuedDuringPeriodValueStockOptionsExercisedAttributableToEmployeesAndConsultants
12750
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18820
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2590897
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
570729
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-45727

Files In Submission

Name View Source Status
0001193125-15-290050-index-headers.html Edgar Link pending
0001193125-15-290050-index.html Edgar Link pending
0001193125-15-290050.txt Edgar Link pending
0001193125-15-290050-xbrl.zip Edgar Link pending
d98554d10q.htm Edgar Link pending
d98554dex311.htm Edgar Link pending
d98554dex312.htm Edgar Link pending
d98554dex321.htm Edgar Link pending
d98554dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
mlss-20150630.xml Edgar Link completed
mlss-20150630.xsd Edgar Link pending
mlss-20150630_cal.xml Edgar Link unprocessable
mlss-20150630_def.xml Edgar Link unprocessable
mlss-20150630_lab.xml Edgar Link unprocessable
mlss-20150630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending