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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2018

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, 2018			September 30, 2017			September 30, 2018			September 30, 2017
Number of significant customers			3			3			2			2
Aggregate dollar amount of net sales to significant customers			$5.4 million			$5.1 million			$10.0 million			$9.4 million
Percentage of net sales to significant customers			55.2	%		49.1	%		39.9	%		37.5	%

Schedule of disaggregated information of revenue recognized from contracts with customers

		For the three months ended September 30, 2018:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	6,454,432		$	466,392		$	1,803,904		$	22,968		$	8,747,696
North and South America sales (excluding U.S.)			803,414			240			—			—			803,654
Other international sales			290,760			12,490			—			8,672			311,922
Total		$	7,548,606		$	479,122		$	1,803,904		$	31,640		$	9,863,272

		For the three months ended September 30, 2017:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	7,019,389		$	309,012		$	1,016,226		$	14,220		$	8,358,847
North and South America sales (excluding U.S.)			1,896,492			1,700			—			2,700			1,900,892
Other international sales			117,447			30,800			—			4,050			152,297
Total		$	9,033,328		$	341,512		$	1,016,226		$	20,970		$	10,412,036

		For the nine months ended September 30, 2018:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	18,097,760		$	991,318		$	2,519,973		$	55,988		$	21,665,039
North and South America sales (excluding U.S.)			2,595,634			8,805			252			900			2,605,591
Other international sales			682,134			36,024			456			21,825			740,436
Total		$	21,375,528		$	1,036,147		$	2,520,681		$	78,713		$	25,011,066

		For the nine months ended September 30, 2017:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	18,260,242		$	821,869		$	1,232,979		$	46,757		$	20,361,847
North and South America sales (excluding U.S.)			3,531,574			2,944			—			193,934			3,728,452
Other international sales			829,680			42,954			—			18,900			891,534
Total		$	22,621,496		$	867,767		$	1,232,979		$	259,591		$	24,981,833

Schedule of earnings per share

		Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
		September 30, 2018			September 30, 2017			September 30, 2018			September 30, 2017
Net loss		$	(63,417)		$	(66,626)		$	(1,190,407)		$	(2,605,917)
Preferred dividend requirements			(176,249)			(176,249)			(528,747)			(528,747)
Loss applicable to common shareholders after assumed conversions		$	(239,666)		$	(242,875)		$	(1,719,154)		$	(3,134,664)
Average common shares outstanding			32,666,454			32,166,454			32,666,454			31,722,010
Average common and common equivalent shares outstanding – assuming dilution			32,666,454			32,166,454			32,666,454			31,722,010
Basic loss per share		$	(0.01)		$	(0.01)		$	(0.05)		$	(0.10)
Diluted loss per share		$	(0.01)		$	(0.01)		$	(0.05)		$	(0.10)

Schedule of share-based compensation costs

		Three Months			Three Months			Nine Months			Nine Months
		Ended			Ended			Ended			Ended
		September 30, 2018			September 30, 2017			September 30, 2018			September 30, 2017
Cost of sales		$	—		$	74,683		$	—		$	270,800
Sales and marketing			—			38,578			—			143,255
Research and development			—			12,458			—			45,174
General and administrative			—			56,832			—			193,633
		$	—		$	182,551		$	—		$	652,862

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