MILESTONE SCIENTIFIC INC.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
MLSS$0.29-3.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
YEARS ENDED DECEMBER 31,
| 2025 · 2024 | |||
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | $(5,722,216) | $(4,713,597) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation expense | 8,853 | 7,218 | |
| Amortization of intangibles | 69,341 | 30,232 | |
| Stock based compensation | 952,716 | 1,345,125 | |
| Bad debt expense | 11,639 | - | |
| Employees paid in stock | 728,750 | 364,953 | |
| Expense paid in stock | 1,020,673 | 579,801 | |
| Amortization of right-of-use asset | 107,463 | 97,393 | |
| Changes in operating assets and liabilities: | |||
| (Increase) in accounts receivable | (216,883) | (162,712) | |
| Increase in accounts receivable, related parties | (25,548) | - | |
| Increase in inventories | (68,622) | (1,075,029) | |
| (Increase ) decrease in advances on contracts | (133,134) | 96,288 | |
| Decrease (increase) in prepaid expenses and other current assets | 95,853 | (46,860) | |
| Increase in accounts payable | 408,856 | 331,789 | |
| Increase in accounts payable, related party | 866,386 | 82,801 | |
| (Decrease) increase in accrued expenses | (801,116) | 70,610 | |
| (Decrease) increase in accrued expenses, related party | (115,887) | 167,104 | |
| Decrease operating right of use lease asset | (103,751) | (94,991) | |
| Net cash used in operating activities | $(2,916,627) | $(2,919,875) | |
| Cash flows from investing activities: | |||
| Purchase of furniture, fixtures, and equipment | $(15,124) | $(10,124) | |
| Sale of marketable securities | - | 2,976,573 | |
| Net cash (used in) provided by investing activities | $(15,124) | $2,966,449 | |
| Cash flows from financing activities: | |||
| Net proceeds from public placement offering | $ | - | $192,156 |
| Proceeds from issuance of convertible notes, related parties | 800,000 | - | |
| Net Proceeds exercise of warrants | - | 51,751 | |
| Payments finance lease obligations | (13,665) | (10,136) | |
| Net cash provided by financing activities | $786,335 | $233,771 | |
| Net increase (decrease) in cash and cash equivalents | $(2,145,416) | $280,345 | |
| Cash and cash equivalents at beginning of period | 3,258,058 | 2,977,713 | |
| Cash and cash equivalents at end of period | $1,112,642 | $3,258,058 | |
| Supplemental non-cash disclosure of cash flow information: | |||
| Initial recognition of finance lease-right of use asset | - | (68,340) | |
| Initial recognition of finance lease-right of use liabilities | - | 68,340 | |
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