India, Aug. 26 -- Milestone Scientific Inc. (MLSS), a technology-focused medical research and development company, announced on Wednesday the elimination of its debt by converting all outstanding loans into common stock.
Three members of the company's Board of Directors reportedly carried out the debt-to-equity conversion of $465,000 into 976,870 shares of common stock, at the price of $0.50 per share.
The issuance of shares to the directors was completed on August 19, 2026.
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With the elimination of outstanding notes payable, Milestone is now in possession of a debt-free balance sheet.
MLSS is currently trading at $0.49, up 2.87%.
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