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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2022
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

​

​

​

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​

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​

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Three Months Ended

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Three Months Ended

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Nine Months Ended

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​

Nine Months Ended

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​

    

September 30, 2022

    

​

September 30, 2021

    

​

September 30, 2022

    

​

September 30, 2021

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Number of significant customers

 

​

2

 

​

​

2

 

​

​

4

 

​

​

1

 

Aggregate dollar amount of net sales to significant customers

​

$

15.5

million

​

​

$

22.6

million

​

​

$

60.0

million

​

​

$

83.6

million

​

Percentage of net sales to significant customers

​

​

67.4%

​

​

​

62.1%

​

​

​

73.0%

​

​

​

64.8%

​

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

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​

​

​

​

​

​

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For the three months ended September 30, 2022:

​

    

​

​

    

Blood 

    

​

​

    

​

​

    

Total 

​

​

​

​

​

Collection 

​

EasyPoint®

​

Other 

​

Product

Geographic Segment

​

Syringes

​

Products

​

Needles

​

Products

​

 Sales

U.S. sales

​

$

6,947,856

​

$

815,964

​

$

1,426,060

​

$

7,253

​

$

9,197,133

Sales to U.S. government

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

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

​

 

9,825,120

​

 

—

​

 

—

​

 

16,416

​

 

9,841,536

Other international sales

​

 

3,915,102

​

 

8,590

​

 

97,724

​

 

1,200

​

 

4,022,616

Total

​

$

20,688,078

​

$

824,554

​

$

1,523,784

​

$

24,869

​

$

23,061,285

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended September 30, 2021:

​

    

​

​

    

Blood 

    

​

​

    

​

​

    

Total

​

​

​

​

​

Collection

​

EasyPoint®

​

Other 

​

Product 

Geographic Segment

​

Syringes

​

 Products

​

Needles

​

Products

​

Sales

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

​

$

11,033,291

​

$

560,065

​

$

4,048,292

​

$

11,399

​

$

15,653,047

Sales to U.S. government

​

​

18,420,480

​

​

—

​

​

—

​

​

—

​

​

18,420,480

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

​

 

670,602

​

 

4,800

​

 

26,400

​

 

—

​

 

701,802

Other international sales

​

 

1,389,226

​

 

900

​

 

189,992

​

 

600

​

 

1,580,718

Total

​

$

31,513,599

​

$

565,765

​

$

4,264,684

​

$

11,999

​

$

36,356,047

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the nine months ended September 30, 2022:

​

    

​

​

    

Blood 

    

​

​

    

​

​

    

Total 

​

​

​

​

​

Collection 

​

EasyPoint®

​

Other 

​

Product

Geographic Segment

​

Syringes

​

Products

​

Needles

​

Products

​

 Sales

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

​

$

22,220,324

​

$

2,419,915

​

$

4,294,603

​

$

36,941

​

$

28,971,783

Sales to U.S. government

​

​

15,731,136

​

​

—

​

​

—

​

​

—

​

​

15,731,136

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

​

 

24,421,790

​

 

—

​

 

2,608

​

 

232,834

​

 

24,657,232

Other international sales

​

 

12,418,679

​

 

255,204

​

 

103,420

​

 

2,750

​

 

12,780,053

Total

​

$

74,791,929

​

$

2,675,119

​

$

4,400,631

​

$

272,525

​

$

82,140,204

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the nine months ended September 30, 2021:

​

    

​

​

    

Blood 

    

​

​

    

​

​

    

Total

​

​

​

​

​

Collection

​

EasyPoint®

​

Other 

​

Product 

Geographic Segment

​

Syringes

​

 Products

​

Needles

​

Products

​

Sales

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

​

$

30,685,338

​

$

1,590,891

​

$

7,019,560

​

$

40,345

​

$

39,336,134

Sales to U.S. government

​

​

83,560,680

​

​

—

​

​

—

​

​

—

​

​

83,560,680

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

​

 

2,963,930

​

​

4,800

​

​

83,248

​

​

109,440

​

 

3,161,418

Other international sales

​

 

2,161,062

​

​

63,540

​

​

640,432

​

​

3,450

​

 

2,868,484

Total

​

$

119,371,010

​

$

1,659,231

​

$

7,743,240

​

$

153,235

​

$

128,926,716

​

Schedule of diluted EPS under the treasury stock method

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Three Months Ended

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Three Months Ended

​

Nine Months

Ended

​

Nine Months

Ended

​

    

September 30, 2022

    

September 30, 2021

​

September 30, 2022

    

September 30, 2021

Common Stock underlying issued and outstanding stock options

​

60,462

 

142,552

​

76,370

 

143,780

Common stock issuable upon the conversion of convertible preferred shares

​

232,445

 

236,445

​

232,445

 

236,445

​

​

292,907

 

378,997

​

308,815

 

380,225

Schedule of earnings per share

​

​

​

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​

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​

Three Months Ended

​

Three Months Ended

​

Nine Months Ended

​

Nine Months Ended

​

​

    

September 30, 2022

    

September 30, 2021

    

September 30, 2022

    

September 30, 2021

​

Net income

​

$

5,385,254

​

$

6,521,885

​

$

9,360,113

​

$

35,139,894

​

Preferred stock dividend requirements

​

 

(58,111)

​

 

(59,111)

​

 

(174,333)

​

 

(183,219)

​

Income applicable to common shareholders

​

$

5,327,143

​

$

6,462,774

​

$

9,185,780

​

$

34,956,675

​

Average common shares outstanding

​

 

32,936,959

​

 

33,883,684

​

 

33,049,411

​

 

33,950,742

​

Average common and common equivalent shares outstanding — assuming dilution

​

 

33,229,866

​

 

34,262,681

​

 

33,358,225

​

 

34,330,967

​

Basic earnings per share

​

$

0.16

​

$

0.19

​

$

0.28

​

$

1.03

​

Diluted earnings per share

​

$

0.16

​

$

0.19

​

$

0.28

​

$

1.02

​