Milestone Scientific remains focused on advancing efforts to achieve the following three primary objectives:

? Establishing Milestone's DPS Dynamic Pressure Sensing technology platform as

the standard-of-care in painless and precise drug delivery, providing for the

first time, objective visual and audible in-tissue pressure feedback, and

continuing to expand platform applications;

? Following obtaining successful FDA clearance of our first medical device,

Milestone Scientific is transitioning from a research and development

organization to a commercially focused medical device company; and

? Expanding our global footprint of our CompuFlo Epidural and CathCheck System by

utilizing a direct field sales force and partnering with distribution companies

Since its market introduction in early 2007, the Wand STA System and prior C-CLAD devices have been used to deliver over 80 million safe, effective, and comfortable injections. The instrument has also been favorably evaluated in numerous peer-reviewed, published clinical studies and associated articles. Moreover, there appears to be a growing consensus among users that the STA Instrument is proving to be a valuable and beneficial instrument that is positively impacting the practice of dentistry worldwide.

The following table shows a breakdown of Milestone Scientific's product sales (net), domestically and internationally, by business segment product category:

See Note 1, "Organization and Business".

The following table sets forth the consolidated results of operations for the three and six months ended June 30, 2022 and 2021, respectively. The trends suggested by this table may not be indicative of future operating results:

$ (13,075 ) Net cash (used in) provided by financing activities $ (4,234 ) $ 3,836,798

Three months ended June 30, 2022 compared three months ended June 30, 2021

Net sales for 2022 and 2021 were as follows:

Gross Profit for 2022 and 2021 were as follows:

Consolidated gross profit for each of the three months ended June 30, 2022 and 2021 decreased approximately $689,000 or 50%. The decrease is related to the Company recording an allowance of approximately $430,000 on slow moving Medical finished goods during the three months ended June 30, 2022.

Selling, general and administrative expenses 2022 and 2021 were as follows:

Research and Development for 2022 and 2021 were as follows:

Profit (Loss) from Operations for 2022 and 2021 were as follows:

The loss from operations was approximately $2.9 million for the three months ending June 30, 2022 and 2021, respectively.

Six months ended June 30, 2022 compared six months ended June 30, 2021

Net sales for 2022 and 2021 were as follows:

Gross Profit for 2022 and 2021 were as follows:

Selling, general and administrative expenses 2022 and 2021 were as follows:

Research and Development for 2022 and 2021 were as follows:

Profit (Loss) from Operations for 2022 and 2021 were as follows:

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