SCHEDULE 13G
Information Statement Pursuant to rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
MILESTONE SCIENTIFIC, INC.
(Name of Issuer)
COMMON STOCK $.001 PAR VALUE
(Title of Class of Securities)
59935P100
(CUSIP Number)
Check the following box if a fee is being paid with this statement(X).
(Continued of following page(s))
Page 1 of 5 Pages
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SCHEDULE 13G
CUSIP No. 16115Q-10-0 Page 2 of 5 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GINTEL ASSET MANAGEMENT, INC.
IRS #06-0871969
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
Gintel Asset Mgt, Inc. 918,500 shs (b) [X]
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
CONNECTICUT
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5) SOLE VOTING POWER
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH GINTEL ASSET MGT., INC. 918,500 shs.
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
918,500 Shares
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.4%
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12) TYPE OF REPORTING PERSON
I.A.
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SCHEDULE 13G
Item 1 (a) Name of Issuer: MILESTONE SCIENTIFIC, INC.
(b) Address of Issuer's Principal Executive Offices:
220 SOUTH ORANGE AVENUE
LIVINGSTON, NJ 07039
Item 2 (a) Name of Person Filing:
GINTEL ASSET MANAGEMENT, INC.
(b) Address of Principal Business Office:
6 GREENWICH OFFICE PARK
GREENWICH, CT 06831
(c) Citizenship: CONNECTICUT CORPORATION
(d) Title of Class of Securities: COMMON STOCK $.001 PAR VALUE
(e) CUSIP Number: 59935P100
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(e) (X) Investment Advisor registered under Section 203 of
the Investment Advisors Act of 1940.
Item 4 Ownership: Robert M. Gintel, Chief Executive Officer and 100% shareholder
of Gintel Asset Management, Inc., is also controlling partner of Gintel & Co.
Limited Partnership and Gintel-Ray Ltd. Partnership. In addition, Gintel Asset
Management, Inc. has discretionary power over the accounts for which it acts as
investment advisor. As a result, Gintel Asset Management, Inc. may be deemed to
be the beneficial owner of the shares owned by these other entities.
(a) Amount Beneficially Owned: 918,500 SHARES
(b) Percent of Class: 10.4%
(c) Number of Shares as to which such person has:
1. Sole Power to vote or to direct the vote: 918,500
2. Shared Power to vote or direct the disposition of: -0-
3. Sole Power to dispose or to direct the disposition of:
918,500
4. Shared Power to dispose or to direct the disposition of: -0-
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Item 5 (a) Ownership of Five Percent or Less of a Class: N/A
Item 6 (a) Ownership of More than Five Percent on behalf of Another
Person: N/A
Item 7 (a) Identification and Classification of the Subsidiary which acquired
the security being reported on by the
Parent Holding Company: N/A
Item 8 (a) Identification and Classification of Members of the
Group: N/A
Item 9 (a) Notice of Dissolution of Group: N/A
Item 10 (a) Certification: By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in any
transaction having such purposes or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this statement
is true, complete and correct.
GINTEL ASSET MANAGEMENT, INC.
BY: Stephen G. Stavrides
President
DATE: April 15, 1998
