Balance Sheets (USD $)
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Dec. 31, 2014
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Dec. 31, 2013
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Current Assets: | ||
Cash and cash equivalents | $ 10,367,993us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 1,147,198us-gaap_CashAndCashEquivalentsAtCarryingValue |
Accounts receivable, net of allowance for doubtful accounts of $5,000 in 2014 | 1,541,478us-gaap_AccountsReceivableNetCurrent | 1,532,856us-gaap_AccountsReceivableNetCurrent |
Inventories | 2,497,099us-gaap_InventoryNet | 1,321,652us-gaap_InventoryNet |
Advances on contracts | 721,197us-gaap_AdvancesOnInventoryPurchases | 727,478us-gaap_AdvancesOnInventoryPurchases |
Prepaid expenses and other current assets | 454,567us-gaap_PrepaidExpenseAndOtherAssetsCurrent | 150,451us-gaap_PrepaidExpenseAndOtherAssetsCurrent |
Total current assets | 15,582,334us-gaap_AssetsCurrent | 4,879,635us-gaap_AssetsCurrent |
Advances on contracts | 1,580,874us-gaap_PrepaidExpenseNoncurrent | |
Furniture, Fixtures & Equipment net of accumulated depreciation of $416,210 as of December 31, 2014 and $476,884 as of December 31, 2013 | 88,818us-gaap_PropertyPlantAndEquipmentNet | 23,988us-gaap_PropertyPlantAndEquipmentNet |
Patents, net of accumulated amortization of $576,960 as of December 31, 2014 and $498,502 as of December 31, 2013 | 530,029us-gaap_FiniteLivedIntangibleAssetsNet | 591,735us-gaap_FiniteLivedIntangibleAssetsNet |
Other assets | 14,685us-gaap_OtherAssetsNoncurrent | 12,917us-gaap_OtherAssetsNoncurrent |
Total assets | 17,477,428us-gaap_Assets | 8,055,346us-gaap_Assets |
Current Liabilities: | ||
Accounts payable | 1,453,908us-gaap_AccountsPayableCurrent | 2,020,368us-gaap_AccountsPayableCurrent |
Accrued expenses and other payables | 981,168us-gaap_AccountsPayableAndOtherAccruedLiabilities | 515,132us-gaap_AccountsPayableAndOtherAccruedLiabilities |
Total current liabilities | 2,435,076us-gaap_LiabilitiesCurrent | 2,535,500us-gaap_LiabilitiesCurrent |
Total liabilities | 2,490,146us-gaap_Liabilities | 2,535,500us-gaap_Liabilities |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common stock, par value $.001; authorized 50,000,000 shares; 21,404,494 shares issued 974,953 shares to be issued and 21,371,161 shares outstanding as of December 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 | 22,380us-gaap_CommonStockValue | 19,599us-gaap_CommonStockValue |
Additional paid-in capital | 77,504,415us-gaap_AdditionalPaidInCapitalCommonStock | 66,677,200us-gaap_AdditionalPaidInCapitalCommonStock |
Accumulated deficit | (61,967,462)us-gaap_RetainedEarningsAccumulatedDeficit | (60,265,438)us-gaap_RetainedEarningsAccumulatedDeficit |
Treasury stock, at cost, 33,333 shares | (911,516)us-gaap_TreasuryStockValue | (911,516)us-gaap_TreasuryStockValue |
Total stockholders’ equity | 14,647,824us-gaap_StockholdersEquity | 5,519,846us-gaap_StockholdersEquity |
Noncontrolling interest | 394,528us-gaap_MinorityInterest | |
Total Equity | 15,042,352us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 5,519,846us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
Total liabilities and stockholders’ equity | 17,477,428us-gaap_LiabilitiesAndStockholdersEquity | 8,055,346us-gaap_LiabilitiesAndStockholdersEquity |
Series A Preferred Stock | ||
Stockholders’ Equity | ||
Series A Convertible Preferred Stock, par value $.001, authorized 5,000,000 shares,7,000 and zero shares issued and outstanding, respectively | 7us-gaap_PreferredStockValue / us-gaap_StatementClassOfStockAxis = us-gaap_SeriesAPreferredStockMember |
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Milestone Medical Inc. | ||
Current Assets: | ||
Investment in joint venture | 888,720us-gaap_EquityMethodInvestments / us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis = mlss_MedicalJointVentureMember |
924,115us-gaap_EquityMethodInvestments / us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis = mlss_MedicalJointVentureMember |
Milestone Education LLC | ||
Current Assets: | ||
Investment in joint venture | 24,192us-gaap_EquityMethodInvestments / us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis = mlss_EducationJointVentureMember |
42,082us-gaap_EquityMethodInvestments / us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis = mlss_EducationJointVentureMember |
Milestone China | ||
Current Assets: | ||
Investment in joint venture | $ 348,651us-gaap_EquityMethodInvestments / us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis = mlss_MilestoneChinaMember |
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Sum of the carrying values as of the balance sheet date of liabilities incurred and payable to vendors for goods and services received, and other costs not separately disclosed in the balance sheet that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. No definition available.
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Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying value of capitalized payments made in advance for inventory that is expected to be received within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of amounts paid in advance for expenses which will be charged against earnings in periods after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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