BUSINESS SEGMENT

12 Months Ended

Dec. 31, 2024

BUSINESS SEGMENT

BUSINESS SEGMENT

18.  BUSINESS SEGMENT

The Company operates in a single reportable segment, referred to as safety medical syringes and other safety medical devices. The business is managed by the chief executive officer who is the Chief Operating Decision Maker (CODM). The CODM evaluates segment performance based on operating income (loss) for purposes of allocating resources and evaluating financial performance.  The accounting policies of our single reportable segment are the same as those for the Company as a whole.

The following are summaries of the Company’s sales and long-lived assets by geography:

	2024		2023		2022
U.S. sales	$	29,374,145	$	34,599,754	$	36,492,275
Sales to U.S. government		—		—		15,731,136
North and South America sales (excluding U.S.)		1,960,769		6,085,166		29,126,820
Other international sales		1,714,619		2,912,006		13,468,707
Total sales	$	33,049,533	$	43,596,926	$	94,818,938

	December 31, 2024		December 31, 2023
Long-lived assets
U.S.	$	83,373,876	$	89,237,030
International		3,974,642		4,241,491
Total	$	87,348,518	$	93,478,521

Shipments to international customers generally require a prepayment either by wire transfer or an irrevocable confirmed letter of credit.  The Company does extend credit to international customers on some occasions depending upon certain criteria, including, but not limited to, the credit worthiness of the customer, the stability of the country, banking restrictions, and the size of the order.  All transactions are in U.S. currency.