SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

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

	Years Ended December 31,
	2021			2020			2019
Number of significant customers		1			2			3
Aggregate dollar amount of net sales to significant customers	$	113.7 million		$	41.6 million		$	19.0 million
Percentage of net sales to significant customers		60.3	%		50.6	%		45.6	%

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

	For the year ended December 31, 2021:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales (excluding U.S. government)	$	42,770,403	$	2,171,680	$	8,892,712	$	53,341	$	53,888,136
Sales to U.S. government		113,662,440		—		—		—		113,662,440
North and South America sales (excluding U.S.)		14,345,874		4,800		100,848		109,714		14,561,236
Other international sales		5,551,592		71,670		642,880		4,500		6,270,642
Total	$	176,330,309	$	2,248,150	$	9,636,440	$	167,555	$	188,382,454

	For the year ended December 31, 2020:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales (excluding U.S. government)	$	30,446,858		2,116,108		9,542,122		64,375	$	42,169,463
Sales to U.S. government		31,634,343		—		—		—		31,634,343
North and South America sales (excluding U.S.)		5,733,116		8,450		86,816		1,064,768		6,893,150
Other international sales		917,478		239,329		235		8,455		1,165,497
Total	$	68,731,795	$	2,363,887	$	9,629,173	$	1,137,598	$	81,862,453

	For the year ended December 31, 2019:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales	$	26,722,414	$	2,130,767	$	2,970,374	$	74,369	$	31,897,924
North and South America sales (excluding U.S.)		7,863,796		6,313		7,996		370,885		8,248,990
Other international sales		1,052,217		578,617		635		18,796		1,650,265
Total	$	35,638,427	$	2,715,697	$	2,979,005	$	464,050	$	41,797,179

Schedule of diluted EPS under the treasury stock method

	Years Ended December 31,
	2021	2020	2019
Common Stock underlying issued and outstanding stock options	141,435	131,347	639,300
Common stock issuable upon the conversion of convertible preferred shares	232,445	—	—
	373,880	131,347	639,300

Schedule of earnings per share

	Years Ended December 31,
	2021		2020		2019
Net income	$	56,064,241	$	24,223,013	$	3,148,234
Preferred stock dividend requirements		(241,703)		(573,868)		(702,618)
Deemed contribution on extinguishment of preferred stock		—		2,975,708		—
Income applicable to common shareholders	$	55,822,538	$	26,624,853	$	2,445,616
Average common shares outstanding		33,870,819		33,169,307		32,672,475
Average common and common equivalent shares outstanding — assuming dilution		34,244,699		33,300,654		32,672,475
Basic earnings per share	$	1.65	$	0.80	$	0.07
Diluted earnings per share	$	1.63	$	0.80	$	0.07