SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2023

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
	March 31, 2023			March 31, 2022
Number of significant customers		3			3
Aggregate dollar amount of net sales to significant customers	$	7.0	million	$	33.8	million
Percentage of net sales to significant customers		63.5%			75.6%

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

	For the three months ended March 31, 2023:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales (excluding U.S. government)	$	4,803,086	$	398,376	$	212,487	$	9,499	$	5,423,448
Sales to U.S. government		—		—		—		—		—
North and South America sales (excluding U.S.)		4,561,280		—		—		212,040		4,773,320
Other international sales		505,542		212,200		86,592		—		804,334
Total	$	9,869,908	$	610,576	$	299,079	$	221,539	$	11,001,102

	For the three months ended March 31, 2022:
			Blood						Total
			Collection		EasyPoint®		Other		Product
Geographic Segment	Syringes		Products		Needles		Products		Sales
U.S. sales (excluding U.S. government)	$	8,395,303	$	1,077,695	$	729,970	$	9,874	$	10,212,842
Sales to U.S. government		15,731,136		—		—		—		15,731,136
North and South America sales (excluding U.S.)		11,074,246		—		2,608		274		11,077,128
Other international sales		7,505,438		211,368		2,888		1,550		7,721,244
Total	$	42,706,123	$	1,289,063	$	735,466	$	11,698	$	44,742,350

Schedule of diluted EPS under the treasury stock method

	Three Months Ended	Three Months Ended
	March 31, 2023	March 31, 2022
Common Stock underlying issued and outstanding stock options	26,604	96,244
Common stock issuable upon the conversion of convertible preferred shares	—	232,445
	26,604	328,689

Schedule of earnings per share

	Three Months Ended		Three Months Ended
	March 31, 2023		March 31, 2022
Net income	$	990,972	$	7,616,455
Preferred stock dividend requirements		(58,111)		(58,111)
Income applicable to common shareholders	$	932,861	$	7,558,344
Average common shares outstanding		29,937,159		33,265,453
Average common and common equivalent shares outstanding — assuming dilution		29,963,763		33,594,142
Basic earnings per share	$	0.03	$	0.23
Diluted earnings per share	$	0.03	$	0.23