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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019			March 31, 2018
Number of significant customers			3			4
Aggregate dollar amount of net sales to significant customers		$	3.9	million	$	4.9	million
Percentage of net sales to significant customers			48.6	%		63.3	%

Schedule of disaggregated information of revenue recognized from contracts with customers

		For the three months ended March 31, 2019:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	5,625,387		$	451,077		$	48,472		$	14,975		$	6,139,911
North and South America sales (excluding U.S.)			1,330,330			3,863			252			925			1,335,370
Other international sales			241,243			210,700			—			5,250			457,193
Total		$	7,196,960		$	665,640		$	48,724		$	21,150		$	7,932,474

		For the three months ended March 31, 2018:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	6,264,189		$	235,085		$	83,285		$	14,421		$	6,596,980
North and South America sales (excluding U.S.)			1,024,204			6,055			252			900			1,031,411
Other international sales			41,300			2,760			—			350			44,410
Total		$	7,329,693		$	243,900		$	83,537		$	15,671		$	7,672,801

Schedule of earnings per share

		Three Months Ended			Three Months Ended
		March 31, 2019			March 31, 2018
Net loss		$	(129,221)		$	(179,284)
Preferred stock dividend requirements			(176,249)			(176,249)
Loss applicable to common shareholders		$	(305,470)		$	(355,533)
Weighted average common shares outstanding			32,666,454			32,666,454
Weighted average common and common equivalent shares outstanding — assuming dilution			32,666,454			32,666,454
Basic loss per share		$	(0.01)		$	(0.01)
Diluted loss per share		$	(0.01)		$	(0.01)

Summary of impact on adoption of ASU 2016-02 to previously reported results relating to balance sheet

					New Lease
		As Previously			Standard			As
Balance Sheet as of December 31, 2018		Reported			Adjustment			Restated
Other assets		$	2,849		$	163,007		$	165,856
Other current liabilities			1,387,287			80,648			1,467,935
Other long-term liabilities			—			82,359			82,359

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