SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2026

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 for the three-month periods ended March 31, 2026 and 2025:

	Three Months Ended			Three Months Ended
	March 31, 2026			March 31, 2025
Number of significant customers		2			3
Aggregate dollar amount of net sales to significant customers	$	3.4	million	$	4.9	million
Percentage of net sales to significant customers		47.1%			58.6%

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 three months ended March 31, 2026:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales	$	5,131,053		340,462		470,573		6,237	$	5,948,325
North and South America sales (excluding U.S.)		419,362		—		435,888		600		855,850
Other international sales		251,858		34,470		86,744		150		373,222
Total	$	5,802,273	$	374,932	$	993,205	$	6,987	$	7,177,397

	For the three months ended March 31, 2025:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales	$	6,138,274		343,833		942,518		7,684	$	7,432,309
North and South America sales (excluding U.S.)		553,500		—		—		—		553,500
Other international sales		268,364		—		41,000		—		309,364
Total	$	6,960,138	$	343,833	$	983,518	$	7,684	$	8,295,173

Schedule of diluted EPS under the treasury stock method

The potential dilution, if any, under the treasury stock method in the three month periods ending March 31, 2026 and 2025 is shown on the following schedule:

	Three Months Ended		Three Months Ended
	March 31, 2026		March 31, 2025
Net loss	$	(4,225,170)		(10,500,716)
Preferred stock dividend requirements		(57,611)		(57,611)
Loss applicable to common shareholders	$	(4,282,781)		(10,558,327)
Average common shares outstanding		29,937,159		29,937,159
Average common and common equivalent shares outstanding — diluted		29,937,159		29,937,159
Basic loss per share	$	(0.14)		(0.35)
Diluted loss per share	$	(0.14)		(0.35)