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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of estimated useful lives of property, plant and equipment

The Company's property, plant, and equipment primarily consists of buildings, land, assembly equipment, molding machines, molds, office equipment, furniture, and fixtures. Depreciation and amortization are calculated using the straight-line method over the following useful lives:

Production equipment

  ​ ​ ​

3 to 13 years

Office furniture and equipment

 

3 to 10 years

Buildings

 

39 years

Building improvements

 

5 to 15 years

Schedule of significant customers

The following table reflects the Company’s significant customers in 2025, 2024, and 2023:

Years Ended December 31,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

Number of significant customers

 

 

3

3

 

4

Aggregate dollar amount of net sales to significant customers

$

20.6 million

$

17.8 million

$

25.9 million

Percentage of net sales to significant customers

53.9

%

53.8

%

61.3

%

Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees recognized

Disaggregated information of revenue recognized from contracts with customers and licensing fees recognized are as follows:

For the year ended December 31, 2025:

  ​ ​ ​

  ​ ​ ​

Blood

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Total 

Collection

EasyPoint®

Other

Product

Geographic Segment

Syringes

Products

Needles

Products

 Sales

U.S. sales

$

21,082,703

1,344,293

9,779,025

30,878

$

32,236,899

North and South America sales (excluding U.S.)

 

3,185,850

1,874,848

5,060,698

Other international sales

 

641,403

25,698

288,764

12,749

968,614

Total

$

24,909,956

$

1,369,991

$

11,942,637

$

43,627

$

38,266,211

For the year ended December 31, 2024:

  ​ ​ ​

  ​ ​ ​

Blood 

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Total 

Collection

EasyPoint®

Other 

Product

Geographic Segment

Syringes

 Products

Needles

Products

 Sales

U.S. sales

$

19,491,747

1,259,289

8,595,794

27,315

$

29,374,145

North and South America sales (excluding U.S.)

 

1,895,393

96

59,040

6,240

 

1,960,769

Other international sales

 

1,242,748

166,222

293,352

12,297

 

1,714,619

Total

$

22,629,888

$

1,425,607

$

8,948,186

$

45,852

$

33,049,533

For the year ended December 31, 2023:

  ​ ​ ​

  ​ ​ ​

Blood 

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Collection 

EasyPoint®

Other 

Total

Geographic Segment

Syringes

Products

Needles

Products

Revenue

U.S. sales (excluding U.S. government)

$

26,119,940

1,414,783

7,031,798

33,233

$

34,599,754

North and South America sales (excluding U.S.)

5,858,726

226,440

 

6,085,166

Other international sales

2,176,674

511,788

216,944

6,600

 

2,912,006

Total

$

34,155,340

$

1,926,571

$

7,248,742

$

266,273

$

43,596,926

Schedule of potential dilution

The calculation of diluted EPS under the treasury stock method included the following shares in 2025, 2024, and 2023:

Years Ended December 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Common stock underlying issued and outstanding stock options

15,040

15,040

Schedule of diluted EPS under the treasury stock method

The potential dilution, if any, is shown on the following schedule:

Years Ended December 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Net loss

$

(12,565,230)

$

(11,886,524)

$

(7,011,036)

Preferred stock dividend requirements

 

(230,444)

 

(230,444)

 

(231,946)

Loss applicable to common shareholders

$

(12,795,674)

$

(12,116,968)

$

(7,242,982)

Average common shares outstanding

 

29,937,159

 

29,937,159

 

29,937,159

Average common and common equivalent shares outstanding — diluted

 

29,937,159

 

29,937,159

 

29,937,159

Basic loss per share

$

(0.43)

$

(0.40)

$

(0.24)

Diluted loss per share

$

(0.43)

$

(0.40)

$

(0.24)