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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)