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Milestone Scientific Announces 2007 Year-End Results
Date:3/31/2008

BALANCE SHEET

December 31, 2007

ASSETS

Current Assets:

Cash and cash equivalents $745,003

Accounts receivable, net of allowance for

doubtful accounts of $5,000 346,347

Royalty receivable 15,358

Inventories 1,636,744

Advances to contract manufacturer 1,192,584

Prepaid expenses and other current assets 169,727

Total current assets 4,105,763

Investment in distributor, at cost 76,319

Equipment, net of accumulated depreciation of

$284,145 220,808

Patents, net of accumulated amortization of

$79,498 559,378

Other assets 27,297

Total assets $4,989,565

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

Accounts payable $1,855,835

Accrued expenses 201,103

Deferred compensation payable to officers 15,833

Total current liabilities 2,072,771

Long-term Liabilities:

Accounts payable-long term 443,847

Line of credit-net of discount of $65,371 934,629

Total long-term liabilities 1,378,476

Commitments and Contingencies

Stockholders' Equity

Common stock, par value $.001; authorized

50,000,000 shares; 11,787,572 shares issued,

421,306 shares to be issued, and 11,754,239

shares outstanding 12,210

Additional paid-in capital 58,483,539

Accumulated deficit
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SOURCE Milestone Scientific, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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