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Milestone Scientific Announces 2010 Year End Results

Milestone's executive management team will host a teleconference this afternoon, Monday, April 4, 2011, beginning at 4:15 PM, EDT, and invites all interested parties to join them in a discussion regarding the Company's financial results, corporate progress and other meaningful developments. The conference call can be accessed via telephone by dialing toll free 1-877-941-8418. For those unable to participate at that time, a replay of the teleconference can be accessed domestically by dialing 1-800-406-7325 and entering the pass code 4430692. The replay will be available for 90 days.MILESTONE SCIENTIFIC INC. CONDENSED BALANCE SHEET For the Years Ended December 31, 2010 and 2009 (AUDITED)  December 31, 2010December 31, 2009ASSETSCurrent Assets:Cash and cash equivalents

,029,129Accounts receivable, net of allowance for doubtful accounts of $202,160 in 2010 and $5,000 in 2009


986,947804,736Advances to contract manufacturer

730,491151,995Prepaid expenses and other current assets

247,465254,501Total current assets

3,388,2063,304,103Accounts receivable-long term, net of allowance for doubtful accounts of $438,840 in 2010

361,160-Advances to contract manufacturer

1,713,794311,230Investment in distributor, at cost

76,31976,319Furniture, Fixtures & Equipment net of accumulated depreciation of $426,482as of December 31, 2010 and $395,630 as of December 31, 2009

66,93677,353Patents, net of accumulated amortization of $294,934 as of December 31, 2010and $211,539 as of December 31, 2009

944,858947,315Other assets

57,750133,674 Total assets

4,849,994LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities:Accounts payable - short term

,154,013Accrued expenses and other payable

511,304524,017Total current liabilities

3,394,8911,678,030Long-term Liabilitie

SOURCE Milestone Scientific Inc.
Copyright©2010 PR Newswire.
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