Milestone Scientific Optimizes Strategy for NYSE American Compliance
Milestone Scientific's Commitment to NYSE American Compliance
Milestone Scientific Inc. (NYSE American: MLSS), based in Roseland, N.J., is recognized for its innovative approach in developing computerized drug delivery instruments that prioritize painless and precise injections. In a recent announcement, the company disclosed it has received a compliance notification from NYSE American LLC regarding its stockholders' equity.
Understanding the Compliance Notification
The letter from NYSE American, dated recently, indicated that Milestone Scientific is currently not adhering to the listing standards outlined in Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide.
According to Section 1003(a)(ii), if a company has reported losses from ongoing operations in recent fiscal years, it is required to maintain a minimum stockholders’ equity of $4 million. Similarly, Section 1003(a)(iii) states that the requirement escalates to $6 million for companies with losses in five consecutive fiscal years. As reported in the recent Form 10-Q for the period ending June 30, 2025, Milestone Scientific has stockholders’ equity of approximately $3.3 million and has faced ongoing losses in each of its last five fiscal years.
Action Required: Plan for Compliance
The NYSE American's letter mandates that Milestone Scientific submit a detailed plan of compliance by a specified date. This plan should outline the measures the company will implement to achieve compliance with the listing standards by a defined deadline in 2027. Milestone Scientific is determined to work closely with the NYSE American and ensure this plan is submitted on time.
Focus on Financial Growth and Operational Efficiency
In a statement regarding the compliance notification, Eric Hines, the Chief Executive Officer of Milestone Scientific, expressed confidence in the company's ability to meet the NYSE American's standards. He highlighted the organization’s commitment to enhancing revenue growth through ongoing initiatives and effective cost management strategies.
“We believe in the financial progress we are making. Our focus remains on execution, operational efficiency, and delivering long-term value to our shareholders,” Hines stated.
Continuous Trading on NYSE American
Despite the compliance notification, Milestone Scientific’s common stock will continue to trade on the NYSE American under the symbol “MLSS.” The company is committed to repairing its compliance status and will undergo periodic reviews by the exchange. It is essential to note that the receipt of the compliance letter does not impact the company’s business operations, regulatory reporting obligations, or securities listing at this time.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a pioneering medical research and development firm that specializes in creating advanced injection technologies. These innovations cater to both medical and dental applications, embedding efficiency and patient comfort in injection procedures.
The company’s systems are engineered with proprietary DPS Dynamic Pressure Sensing Technology, which innovatively regulates the flow rate and tracks pressure during injections. This ensures a high level of precision and safety for various applications, including subcutaneous drug delivery.
Conclusion: Commitment to Strategic Advancement
Milestone Scientific is resolute in refining its commercial strategy while bolstering its financial stability. As the company ventures forward, it strives to achieve compliance with all NYSE American requirements by the stipulated deadlines.
Frequently Asked Questions
What steps is Milestone Scientific taking to regain compliance?
The company is preparing a compliance plan detailing its strategies to meet NYSE American standards by the required deadline.
What is the current stockholders' equity of Milestone Scientific?
As of its latest report, the stockholders' equity stands at approximately $3.3 million.
What does the compliance letter from the NYSE American entail?
The letter indicates that the company does not meet specific listing standards and outlines action steps it must take to regain compliance.
How is Milestone Scientific addressing financial growth?
The company is focused on revenue growth initiatives and effective cost management to improve its financial status.
Will Milestone Scientific’s stock continue to trade on NYSE American?
Yes, Milestone Scientific's stock will continue to trade under the symbol “MLSS” while the company works towards compliance.
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