XML 29 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Balance Sheets (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 1,398,847 $ 1,147,198
Accounts receivable, net of allowance for doubtful accounts of $5,000 as of March 31, 2014 and $5,000 as of December 31, 2013 1,221,375 1,532,856
Inventories 1,744,946 1,321,652
Advances on contracts 1,763,280 727,478
Prepaid expenses and other current assets 242,718 150,451
Total current assets 6,371,166 4,879,635
Advances on contracts 218,875 1,580,874
Investment in Milestone Medical Inc 852,295 924,115
Investment in Milestone Education LLC 38,666 42,082
Furniture, Fixtures & Equipment, net of accumulated depreciation of $458,614 as of March 31, 2014 and $476,884 as of December 31, 2013 24,562 23,988
Patents, net of accumulated amortization of $518,095 as of March 31, 2014 and $498,502 as of December 31, 2013 572,142 591,735
Other assets 12,917 12,917
Total assets 8,090,623 8,055,346
Current Liabilities:    
Accounts payable 1,217,135 2,020,368
Customer advances 507,345  
Accrued expenses and other payables 484,012 515,133
Total current liabilities 2,208,492 2,535,501
Commitments and Contingencies      
Stockholders' Equity    
Preferred Stock, par value $.001, 5,000,000 shares      
Common stock, par value $.001; authorized 50,000,000 shares; 17,780,465 shares issued, 1,964,930 shares to be issued and 17,747,132 shares outstanding as of March 31, 2014; 17,759,540 shares issued, 1,839,930 shares to be issued, and 17,726,207 shares outstanding as of December 31, 2013 19,745 19,599
Additional paid-in capital 66,844,506 66,677,200
Accumulated deficit (60,070,604) (60,265,438)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total stockholders' equity 5,882,131 5,519,845
Total liabilities and stockholders' equity $ 8,090,623 $ 8,055,346