SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives of property, plant and equipment

The Company's property, plant, and equipment primarily consist of buildings, land, assembly equipment, molding machines, molds, office equipment, furniture, and fixtures.  Depreciation and amortization are calculated using the straight-line method over the following useful lives:

Production equipment	3 to 13 years
Office furniture and equipment	3 to 10 years
Buildings	39 years
Building improvements	5 to 15 years

Schedule of significant customers

The following table reflects our significant customers for the three-month periods ended March 31, 2025 and 2024:

	Three Months Ended			Three Months Ended
	March 31, 2025			March 31, 2024
Number of significant customers		3			2
Aggregate dollar amount of net sales to significant customers	$	4.9	million	$	3.4	million
Percentage of net sales to significant customers		58.6%			44.3%

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

Disaggregated information of revenue recognized from contracts with customers and licensing fees recognized are as follows:

	For the three months ended March 31, 2025:
			Blood
			Collection		EasyPoint®		Other		Total
Geographic Segment	Syringes		Products		Needles		Products		Revenue
U.S. sales	$	6,138,274		343,833		942,518		7,684	$	7,432,309
North and South America sales (excluding U.S.)		553,500		—		—		—		553,500
Other international sales		268,364		—		41,000		—		309,364
Total	$	6,960,138	$	343,833	$	983,518	$	7,684	$	8,295,173

	For the three months ended March 31, 2024:
			Blood
			Collection		EasyPoint®		Other		Total
Geographic Segment	Syringes		Products		Needles		Products		Revenue
U.S. sales	$	5,653,309		367,609		612,871		7,379	$	6,641,168
North and South America sales (excluding U.S.)		154,537		96		—		—		154,633
Other international sales		572,478		143,460		87,024		600	$	803,562
Total	$	6,380,324	$	511,165	$	699,895	$	7,979	$	7,599,363

Schedule of diluted EPS under the treasury stock method

The calculation of diluted EPS under the treasury stock method included the following shares in the three month periods ending March 31, 2025 and 2024:

	Three Months Ended	Three Months Ended
	March 31, 2025	March 31, 2024
Common stock underlying issued and outstanding stock options	—	8,194
Common stock issuable upon the conversion of convertible preferred shares	—	—
	—	8,194

Schedule of potential dilution

The potential dilution, if any, is shown on the following schedule:

	Three Months Ended		Three Months Ended
	March 31, 2025		March 31, 2024
Net income (loss)	$	(10,500,716)	$	429,384
Preferred stock dividend requirements		(57,611)		(57,611)
Income (loss) applicable to common shareholders	$	(10,558,327)	$	371,773
Average common shares outstanding		29,937,159		29,937,159
Average common and common equivalent shares outstanding — diluted		29,937,159		29,945,353
Basic earnings (loss) per share	$	(0.35)	$	0.01
Diluted earnings (loss) per share	$	(0.35)	$	0.01