SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives of property, plant and equipment

Production equipment	3 to 13 years
Office furniture and equipment	3 to 10 years
Buildings	39 years
Building improvements	15 years

Schedule of significant customers

	Six Months ended June 30, 2018	Six Months ended June 30, 2017	Three Months ended June 30, 2018	Three Months ended June 30, 2017
Number of significant customers	2	1	2	2
Aggregate dollar amount of net sales to significant customers	$6.3 million	$4.1 million	$3.1 million	$3.1 million
Percentage of net sales to significant customers	41.8%	28.0%	41.6%	40.2%

Schedule of disaggregated information of revenue recognized from contracts with customers

		For the three months ended June 30, 2018:
Geographic Segment		Syringes		Blood Collection Products		EasyPoint® Needles		Other Products		Total Product Sales
U.S. sales	$	5,379,139	$	289,841	$	632,784	$	18,599	$	6,320,363
North and South America sales (excluding U.S.)		768,016		2,510		—		—		770,526
Other international sales		350,074		20,774		456		12,800		384,104
Total	$	6,497,229	$	313,125	$	633,240	$	31,399	$	7,474,993

		For the three months ended June 30, 2017:
Geographic Segment		Syringes		Blood Collection Products		EasyPoint® Needles		Other Products		Total Product Sales
U.S. sales	$	5,486,154	$	334,950	$	216,753	$	17,287	$	6,055,144
North and South America sales (excluding U.S.)		1,328,310		519		—		2,200		1,331,029
Other international sales		252,690		2,954		—		4,300		259,944
Total	$	7,067,154	$	338,423	$	216,753	$	23,787	$	7,646,117

		For the six months ended June 30, 2018:
Geographic Segment		Syringes		Blood Collection Products		EasyPoint® Needles		Other Products		Total Product Sales
U.S. sales	$	11,643,328	$	524,926	$	716,069	$	33,020	$	12,917,343
North and South America sales (excluding U.S.)		1,792,220		8,565		252		900		1,801,937
Other international sales		391,374		23,534		456		13,150		428,514
Total	$	13,826,922	$	557,025	$	716,777	$	47,070	$	15,147,794

		For the six months ended June 30, 2017:
Geographic Segment		Syringes		Blood Collection Products		EasyPoint® Needles		Other Products		Total Product Sales
U.S. sales	$	11,240,853	$	512,857	$	216,753	$	32,537	$	12,003,000
North and South America sales (excluding U.S.)		1,635,082		1,244		—		191,234		1,827,560
Other international sales		712,233		12,154		—		14,850		739,237
Total	$	13,588,168	$	526,255	$	216,753	$	238,621	$	14,569,797

Schedule of earnings per share

		Three Months Ended June 30, 2018			Three Months Ended June 30, 2017			Six Months Ended June 30, 2018			Six Months Ended June 30, 2017
Net loss	$	(947,706	)	$	(1,349,346	)	$	(1,126,990	)	$	(2,539,291	)
Preferred dividend requirements		(176,249	)		(176,249	)		(352,498	)		(352,498	)
Loss applicable to common shareholders after assumed conversions	$	(1,123,955	)	$	(1,525,595	)	$	(1,479,488	)	$	(2,891,789	)
Average common shares outstanding		32,666,454			31,666,454			32,666,454			31,499,787
Average common and common equivalent shares outstanding - assuming dilution		32,666,454			31,666,454			32,666,454			31,499,787
Basic loss per share	$	(0.03	)	$	(0.05	)	$	(0.05	)	$	(0.09	)
Diluted loss per share	$	(0.03	)	$	(0.05	)	$	(0.05	)	$	(0.09	)

Schedule of share-based compensation costs

		Three Months Ended June 30, 2018		Three Months Ended June 30, 2017		Six Months Ended June 30, 2018		Six Months Ended June 30, 2017
Cost of sales	$	—	$	98,356	$	—	$	196,117
Sales and marketing		—		51,993		—		104,677
Research and development		—		16,407		—		32,715
General and administrative		—		68,655		—		136,800
	$	—	$	235,411	$	—	$	470,309