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Financial Highlights for the Three Months Ended June 30, 2007 Compared tothe Three Months Ended June 30, 2006:
Financial Highlights for the Six Months Ended June 30, 2007 Compared tothe Six Months Ended June 30, 2006:
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As of June 30, 2007, Milestone had approximately $928,000 in cash andreceivables; $1.5 million in working capital and $2.6 million in totalstockholders' equity. Subsequent to the end of the second quarter, Milestonesecured a revolving line of credit of $1 million. As previously announced,borrowings under the line will bear interest at 6% per annum, compoundedquarterly in arrears, with one year's interest at 1% payable in advance oneach draw down.
"Overall, we are generally pleased with the critical progress Milestonehas made in the first half of 2007 on a number of key fronts. Shipments ofthe new STA delivery system made to Henry Schein's customers during the firsttwo quarters of this year are expected to aid in promoting much more rapidmarket adoption of our novel, painless injection solution by U.S. dentalprofessionals following our planned full scale launch in the fourth quarter,"stated Leonard Osser, Chairman and CEO of Milestone. "In anticipation of theupcoming fourth quarter and in close collaboration with our sales managementpartner Corestrength, we remain focused on completing training of the HenrySchein national sales team and formalizing a series of exciting sales andpromotional activities to support STA's major domestic commercial launch. Inaddition, with the recent granting of the CE Mark for the STA system,permitting us to begin marketing the solution in European Union countries, weare also fine tuning our go-to-market strategy targeting dental practitionersin the international arena."
Continuing, Osser noted, "On the medical front, I'm pleased to confirmthat the appointment of Joe Martin as CEO of our newly formed medicaltechnologies division, has helped to significantly enhance Milestone's effortsto identify and pursue product development opportunities strategic partnersinterested in exploiting our patented CompuFlo(TM) technology."
The Company will host a teleconference Monday, August 20, 2007, beginningat 4:15 PM Eastern Time, and invites all interested parties to join managementin a discussion regarding the Company's financial performance, corporateprogression and other meaningful developments. The conference call can beaccessed by dialing toll-free 1-800-366-3908. For those unable to participateat that time, a replay of the teleconference can be accessed domestically bydialing 1-800-405-2236 and enter the passcode 11095891#. The replay will beavailable for 90 days.
About Milestone Scientific, Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is engagedin pioneering proprietary, highly innovative technological solutions for themedical and dental markets. Central to the Company's IP platform and productdevelopment strategy is its patented CompuFlo(TM) technology for the improvedand painless delivery of local anesthetic. Specifically, CompuFlo is acomputer-controlled, pressure sensitive infusion, perfusion, suffusion andaspiration technology, which provides real-time readouts of pressures, fluiddensities and flow rates, enabling the advanced delivery and removal of a widearray of fluids. The Single Tooth Anesthesia (STA(TM)) computer-controlledlocal anesthesia delivery system which uses this technology provides dentistswith audible and visual signals as to in-tissue pressure. Milestone'sexisting painless injection systems are currently sold in 25 countries. Formore information on these and other innovative Milestone products, pleasevisit
