Milestone Scientific Announces Appointment of Acting Chief Financial Officer
August 22 2007 - 8:30AM
PR Newswire (US)
LIVINGSTON, N.J., Aug. 22 /PRNewswire-FirstCall/ -- Milestone
Scientific, Inc. (OTC:MLSS) (BULLETIN BOARD: MLSS) , the recognized
leader in advanced injection technologies, today announced the
appointment of Arthur Goldberg, CPA as the Company's new Acting
Chief Financial Officer, replacing Dave Cohn who is leaving to
pursue other business opportunities. "Considering his impressive
depth of experience in overseeing the financial affairs of numerous
high growth companies, Arthur is sure to greatly complement and
further strengthen our senior leadership team," stated Leonard
Osser, Chairman and Chief Executive Officer. "We are very pleased
to welcome him to Milestone and expect that he will play a
significant role in our Company's ongoing success." For nearly 40
years, Goldberg has applied his financial and legal expertise as a
highly skilled senior executive serving a broad range of
industries, including service (for profit and not for profit),
retail, manufacturing, distribution and software development/high
technology. Prior to joining Milestone, he served as CAO and CFO of
St. Luke's School, a non-sectarian college prep school located in
New Canaan, Connecticut. From 1999-2005, Goldberg was a partner in
the firm of Tatum CFO Partners, serving as an interim CFO for both
public and private companies, including Register.com, Inc.; Warren
Phamaceuticals; Essential Reality; Lotus Management and SEIU Local
32BJ Benefit Fund. As Vice Chairman of the Board and CFO/COO of
Complete Management, Inc., he helped lead the Company through three
public offerings and the acquisition of 35 physician practices in a
two year period. From 1993-1996, Goldberg led his own corporate
advisory firm, Arthur Goldberg Associates, where he primarily aided
smaller companies in reorganizations and recapitalizations. As
Chief Financial Officer of Elek-Tek, Inc., he played a critical
role in the successful IPO of this $225 million retail electronics
chain. Previous executive postings also included Administrative
Partner/COO of Altheimer & Gray and Gottlieb & Schwartz;
Vice President-Finance and CFO of EAC Industries, Inc.; Vice
President-Finance and CFO of Xonics, Inc.; and Group Operations
Manager and Subsidiary CEO of Condec Corporation. Goldberg is a
graduate of City College of New York, where he earned a BBA degree.
Both a Certified Public Accountant and Attorney at Law, he earned
an MBA from the University of Chicago and JD and LLM degrees from
New York University School of Law. About Milestone Scientific, Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is
engaged in pioneering proprietary, highly innovative technological
solutions for the medical and dental markets. Central to the
Company's IP platform and product development strategy is its
patented CompuFlo(TM) technology for the improved and painless
delivery of local anesthetic. Specifically, CompuFlo is a
computer-controlled, pressure sensitive infusion, perfusion,
suffusion and aspiration technology, which provides real-time
readouts of pressures, fluid densities and flow rates, enabling the
advanced delivery and removal of a wide array of fluids. The Single
Tooth Anesthesia (STA(TM)) computer-controlled local anesthesia
delivery system which uses this technology provides dentists with
audible and visual signals as to in-tissue pressure. Milestone's
existing painless injection systems are currently sold in 25
countries. For more information on these and other innovative
Milestone products, please visit the Company's web site found at
http://www.milesci.com/. Safe Harbor Statement This press release
contains forward-looking statements regarding the timing and
financial impact of the Milestone's ability to implement its
business plan, expected revenues and future success. These
statements involve a number of risks and uncertainties and are
based on assumptions involving judgments with respect to future
economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond Milestone's control. Some
of the important factors that could cause actual results to differ
materially from those indicated by the forward-looking statements
are general economic conditions, failure to achieve expected
revenue growth, changes in our operating expenses, adverse patent
rulings, FDA or legal developments, competitive pressures, changes
in customer and market requirements and standards, and the risk
factors detailed from time to time in Milestone's periodic filings
with the Securities and Exchange Commission, including without
limitation, Milestone's Annual Report on Form 10-KSB for the year
ended December 31, 2006. The forward-looking statements in this
press release are based upon management's reasonable belief as of
the date hereof. Milestone undertakes no obligation to revise or
update publicly any forward-looking statements for any reason. FOR
MORE INFORMATION, PLEASE CONTACT: Elite Financial Communications
Group, LLC Dodi Handy, President and CEO, or Daniel Conway, Chief
Strategist 407-585-1080 or via email at DATASOURCE: Milestone
Scientific, Inc. CONTACT: Dodi Handy, President and CEO, or Daniel
Conway, Chief Strategist, both of Elite Financial Communications
Group, LLC, +1-407-585-1080, , for Milestone Scientific, Inc. Web
site: http://www.milesci.com/
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