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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of estimated useful lives of property, plant and equipment |
Production equipment |  | 3 to 13 years
Office furniture, fixtures, and equipment |  | 3 to 10 years
Buildings |  | 39 years
Building improvements |  | 15 years
Schedule of significant customers |
|  | Years Ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Number of significant customers |  |  | 2 |  |  | 2 |  |  | 1 |
Aggregate dollar amount of net sales to significant customers |  | $ | 13.1 million |  | $ | 14.0 million |  | $ | 9.4 million |
Percentage of net sales to significant customers |  |  | 39.2 | % |  | 40.5 | % |  | 31.4 | %
Schedule of disaggregated information of revenue recognized from contracts with customers |
|  | For the year ended December 31, 2018:
|  |  |  |  | Blood |  |  |  |  |  |  |  |  |
|  |  |  |  | Collection |  | EasyPoint® |  | Other |  | Total Product
Geographic Segment |  | Syringes |  | Products |  | Needles |  | Products |  | Sales
U.S. sales |  | $ | 23,803,483 |  | $ | 1,365,936 |  | $ | 3,401,389 |  | $ | 75,766 |  | $ | 28,646,574
North and South America sales (excluding U.S.) |  |  | 3,521,823 |  |  | 8,805 |  |  | 252 |  |  | 66,564 |  |  | 3,597,444
Other international sales |  |  | 940,740 |  |  | 48,101 |  |  | 11,768 |  |  | 30,075 |  |  | 1,030,684
Total |  | $ | 28,266,046 |  | $ | 1,422,842 |  | $ | 3,413,409 |  | $ | 172,405 |  | $ | 33,274,702
|  | For the year ended December 31, 2017:
|  |  |  |  | Blood |  |  |  |  |  |  |  |  |
|  |  |  |  | Collection |  | EasyPoint® |  | Other |  | Total Product
Geographic Segment |  | Syringes |  | Products |  | Needles |  | Products |  | Sales
U.S. sales |  | $ | 23,794,258 |  | $ | 1,098,667 |  | $ | 2,065,777 |  | $ | 57,010 |  | $ | 27,015,712
North and South America sales (excluding U.S.) |  |  | 6,182,952 |  |  | 3,859 |  |  | — |  |  | 193,934 |  |  | 6,380,745
Other international sales |  |  | 1,032,508 |  |  | 43,473 |  |  | — |  |  | 21,400 |  |  | 1,097,381
Total |  | $ | 31,009,718 |  | $ | 1,145,999 |  | $ | 2,065,777 |  | $ | 272,344 |  | $ | 34,493,838
|  | For the year ended December 31, 2016:
|  |  |  |  | Blood |  |  |  |  |  |  |  |  |
|  |  |  |  | Collection |  | EasyPoint® |  | Other |  | Total Product
Geographic Segment |  | Syringes |  | Products |  | Needles |  | Products |  | Sales
U.S. sales |  | $ | 24,349,061 |  | $ | 571,242 |  | $ | 1,339,386 |  | $ | 48,557 |  | $ | 26,308,246
North and South America sales (excluding U.S.) |  |  | 2,643,366 |  |  | 2,778 |  |  | — |  |  | 95,374 |  |  | 2,741,518
Other international sales |  |  | 744,636 |  |  | 16,834 |  |  | — |  |  | 15,402 |  |  | 776,872
Total |  | $ | 27,737,063 |  | $ | 590,854 |  | $ | 1,339,386 |  | $ | 159,333 |  | $ | 29,826,636
Schedule of earnings per share |
|  | Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Net loss |  | $ | (1,339,943) |  | $ | (3,736,038) |  | $ | (3,694,907)
Preferred dividend requirements |  |  | (704,996) |  |  | (704,996) |  |  | (704,996)
Loss applicable to common shareholders |  | $ | (2,044,939) |  | $ | (4,441,034) |  | $ | (4,399,903)
Weighted average common shares outstanding |  |  | 32,666,454 |  |  | 31,958,121 |  |  | 29,354,437
Weighted average common and common equivalent shares outstanding - assuming dilution |  |  | 32,666,454 |  |  | 31,958,121 |  |  | 29,354,437
Basic loss per share |  | $ | (0.06) |  | $ | (0.14) |  | $ | (0.15)
Diluted loss per share |  | $ | (0.06) |  | $ | (0.14) |  | $ | (0.15)
Schedule of share-based compensation costs |
|  | Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Cost of sales |  | $ | — |  | $ | 272,811 |  | $ | 141,782
Sales and marketing |  |  | — |  |  | 143,255 |  |  | 77,583
Research and development |  |  | — |  |  | 45,174 |  |  | 23,623
General and administrative |  |  | — |  |  | 210,983 |  |  | 144,738
|  | $ | — |  | $ | 672,223 |  | $ | 387,726

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