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

	Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
	September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2021
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

	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

	Three Months Ended	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

	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