Home / Going-concern warnings / MILESTONE SCIENTIFIC INC.
Filed 2025-08-14 路 Form 10-Q 路 Accession 0001437749-25-026919 nano
Price before filing: $0.6019 (2025-08-13 close, split/dividend-adjusted)
Market cap at flag: $47.7M (2025-08-14) 路 Latest: $30.4M (2026-10-16)
| Window | MLSS | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -3.6% | +2.5% | -6.1% | 2025-09-15 |
| 90 days | -40.5% | +6.3% | -46.8% | 2025-11-12 |
| 180 days | -57.3% | +7.9% | -65.2% | 2026-02-10 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $298K (22 sales)
30 days after: 1 insider sold $6K (1 sale)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-28 | BP4 S.r.l. 10% owner | Sale | 14,256 | $0.96 | $14K | no | Form 4 |
| 2025-05-29 | BP4 S.r.l. 10% owner | Sale | 3,361 | $0.96 | $3K | no | Form 4 |
| 2025-05-30 | BP4 S.r.l. 10% owner | Sale | 12,118 | $0.93 | $11K | no | Form 4 |
| 2025-06-02 | BP4 S.r.l. 10% owner | Sale | 10,000 | $0.95 | $9K | no | Form 4 |
| 2025-06-03 | BP4 S.r.l. 10% owner | Sale | 8,000 | $0.94 | $7K | no | Form 4 |
| 2025-06-04 | BP4 S.r.l. 10% owner | Sale | 6,000 | $0.91 | $5K | no | Form 4 |
| 2025-06-05 | BP4 S.r.l. 10% owner | Sale | 26,855 | $0.91 | $24K | no | Form 4 |
| 2025-06-06 | BP4 S.r.l. 10% owner | Sale | 60,200 | $0.90 | $54K | no | Form 4 |
| 2025-06-09 | BP4 S.r.l. 10% owner | Sale | 20,266 | $0.91 | $18K | no | Form 4 |
| 2025-06-10 | BP4 S.r.l. 10% owner | Sale | 30,100 | $0.91 | $27K | no | Form 4 |
| 2025-06-11 | BP4 S.r.l. 10% owner | Sale | 23,797 | $0.90 | $21K | no | Form 4 |
| 2025-06-16 | BP4 S.r.l. 10% owner | Sale | 10,056 | $0.90 | $9K | no | Form 4 |
| 2025-06-18 | BP4 S.r.l. 10% owner | Sale | 1,693 | $0.88 | $1K | no | Form 4 |
| 2025-06-23 | BP4 S.r.l. 10% owner | Sale | 5,933 | $0.86 | $5K | no | Form 4 |
| 2025-06-24 | BP4 S.r.l. 10% owner | Sale | 10,000 | $0.81 | $8K | no | Form 4 |
| 2025-06-25 | BP4 S.r.l. 10% owner | Sale | 1,300 | $0.77 | $1K | no | Form 4 |
| 2025-06-27 | BP4 S.r.l. 10% owner | Sale | 10,000 | $0.73 | $7K | no | Form 4 |
| 2025-06-30 | BP4 S.r.l. 10% owner | Sale | 649 | $0.65 | $422 | no | Form 4 |
| 2025-07-03 | BP4 S.r.l. 10% owner | Sale | 50,853 | $0.67 | $34K | no | Form 4 |
| 2025-07-07 | BP4 S.r.l. 10% owner | Sale | 30,558 | $0.68 | $21K | no | Form 4 |
| 2025-07-08 | BP4 S.r.l. 10% owner | Sale | 11,489 | $0.69 | $8K | no | Form 4 |
| 2025-07-17 | BP4 S.r.l. 10% owner | Sale | 10,000 | $0.64 | $6K | no | Form 4 |
| 2025-08-14: red flag filed | |||||||
| 2025-09-11 | BP4 S.r.l. 10% owner | Sale | 10,000 | $0.59 | $6K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-16 to 2025-09-13. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Based on our available cash and cash equivalents, recurring losses, accumulated deficit and the need to raise additional capital to finance operations, including proceeds received from the note financing received in April 2025, as of June 30, 2025, we have concluded that there is substantial doubt about our ability to continue as a going concern for a period of one year from the date that these unaudited condensed..."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
🔔 Get email alerts for this company
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.