$MLSS
MILESTONE SCIENTIFIC INC.

2016 Q2 Form 10-Q Financial Statement

#000143774916037178 Filed on August 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $2.372M $1.767M
YoY Change 34.24% -29.53%
Cost Of Revenue $789.8K $570.7K
YoY Change 38.38% -37.45%
Gross Profit $1.582M $1.196M
YoY Change 32.26% -24.99%
Gross Profit Margin 66.7% 67.7%
Selling, General & Admin $3.291M $2.591M
YoY Change 27.02% 70.69%
% of Gross Profit 208.04% 216.62%
Research & Development $309.3K $18.82K
YoY Change 1543.65% -35.47%
% of Gross Profit 19.55% 1.57%
Depreciation & Amortization $50.00K $10.00K
YoY Change 400.0% -66.67%
% of Gross Profit 3.16% 0.84%
Operating Expenses $3.600M $2.610M
YoY Change 37.96% 68.69%
Operating Profit -$2.018M -$1.414M
YoY Change 42.78% -3075.74%
Interest Expense $0.00 -$1.130K
YoY Change -100.0% -277.95%
% of Operating Profit
Other Income/Expense, Net -$1.004K -$1.130K
YoY Change -11.15% -99.48%
Pretax Income -$2.019M -$2.105M
YoY Change -4.07% 1142.22%
Income Tax $16.79K $13.65K
% Of Pretax Income
Net Earnings -$1.587M -$2.073M
YoY Change -23.45% 1123.29%
Net Earnings / Revenue -66.91% -117.33%
Basic Earnings Per Share -$0.06 -$0.09
Diluted Earnings Per Share -$0.06 -$0.09
COMMON SHARES
Basic Shares Outstanding 25.99M 22.41M
Diluted Shares Outstanding 25.99M 25.11M

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.180M $7.000M
YoY Change -54.57% -34.09%
Cash & Equivalents $3.184M $1.447M
Short-Term Investments $5.550M
Other Short-Term Assets $380.0K $810.0K
YoY Change -53.09% 406.25%
Inventory $4.269M $3.240M
Prepaid Expenses
Receivables $2.583M $1.635M
Other Receivables $70.00K $1.000M
Total Short-Term Assets $11.69M $14.41M
YoY Change -18.85% -7.87%
LONG-TERM ASSETS
Property, Plant & Equipment $201.7K $117.3K
YoY Change 71.95% 193.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $300.0K
YoY Change -100.0% -62.5%
Other Assets $11.38K $17.36K
YoY Change -34.43% 73.55%
Total Long-Term Assets $908.5K $931.1K
YoY Change -2.42% -42.53%
TOTAL ASSETS
Total Short-Term Assets $11.69M $14.41M
Total Long-Term Assets $908.5K $931.1K
Total Assets $12.60M $15.34M
YoY Change -17.85% -11.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.498M $795.9K
YoY Change 213.82% -18.78%
Accrued Expenses $1.493M $1.140M
YoY Change 30.96% 52.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.990M $1.940M
YoY Change 105.71% -0.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.990M $1.940M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $4.170M $2.780M
YoY Change 50.0% 42.56%
SHAREHOLDERS EQUITY
Retained Earnings -$69.81M -$64.46M
YoY Change 8.31%
Common Stock $79.16M $77.93M
YoY Change 1.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $911.5K $911.5K
YoY Change 0.0%
Treasury Stock Shares $33.33K 33.33K shares
Shareholders Equity $8.430M $12.56M
YoY Change
Total Liabilities & Shareholders Equity $12.60M $15.34M
YoY Change -17.85% -11.12%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$1.587M -$2.073M
YoY Change -23.45% 1123.29%
Depreciation, Depletion And Amortization $50.00K $10.00K
YoY Change 400.0% -66.67%
Cash From Operating Activities -$1.630M -$1.730M
YoY Change -5.78% 1472.73%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$40.00K
YoY Change -75.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $140.0K -$6.530M
YoY Change -102.14% -32.12%
Cash From Investing Activities $130.0K -$6.560M
YoY Change -101.98% -31.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.020M 410.0K
YoY Change 392.68% -95.67%
NET CHANGE
Cash From Operating Activities -1.630M -1.730M
Cash From Investing Activities 130.0K -6.560M
Cash From Financing Activities 2.020M 410.0K
Net Change In Cash 520.0K -7.880M
YoY Change -106.6% 2617.24%
FREE CASH FLOW
Cash From Operating Activities -$1.630M -$1.730M
Capital Expenditures -$10.00K -$40.00K
Free Cash Flow -$1.620M -$1.690M
YoY Change -4.14% 1777.78%

Facts In Submission

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ProfitLoss
-3354962
us-gaap Profit Loss
ProfitLoss
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CY2016Q2 us-gaap Profit Loss
ProfitLoss
-2094101
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-2118676
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
201708
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
235935
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
309335
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18820
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
452780
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28938
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-69813638
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-67434984
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2371710
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1766759
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5836196
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
4536963
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3290998
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2590897
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6292109
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4488978
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
168750
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2000000
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
8429951
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
10308575
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9165492
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8611582
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
33333
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
33333
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
911516
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
911516
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25989857
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25114399
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24362441
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25132192
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25989857
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22405897
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24362441
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22390332

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