XML 28 R18.htm IDEA: XBRL DOCUMENT v3.19.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 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			Six Months ended			Six Months ended
		June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
Number of significant customers			3			2			3			2
Aggregate dollar amount of net sales to significant customers		$	4.0 million		$	3.1 million		$	7.9 million		$	6.3 million
Percentage of net sales to significant customers			42.7	%		41.6	%		45.4	%		41.8	%

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

		For the three months ended June 30, 2019:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	6,168,886		$	476,733		$	1,193,485		$	12,997		$	7,852,101
North and South America sales (excluding U.S.)			1,191,818			300			264			—			1,192,382
Other international sales			219,405			161,793			147			170,062			551,407
Total		$	7,580,109		$	638,826		$	1,193,896		$	183,059		$	9,595,890

		For the three months ended June 30, 2018:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	5,379,139		$	289,841		$	632,784		$	18,599		$	6,320,363
North and South America sales (excluding U.S.)			768,016			2,510			—			—			770,526
Other international sales			350,074			20,774			456			12,800			384,104
Total		$	6,497,229		$	313,125		$	633,240		$	31,399		$	7,474,993

		For the six months ended June 30, 2019:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	11,794,228		$	927,847		$	1,241,963		$	27,974		$	13,992,012
North and South America sales (excluding U.S.)			2,522,148			4,163			516			925			2,527,752
Other international sales			460,649			372,492			147			175,312			1,008,600
Total		$	14,777,025		$	1,304,502		$	1,242,626		$	204,211		$	17,528,364

		For the six months ended June 30, 2018:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	11,643,328		$	524,926		$	716,069		$	33,020		$	12,917,343
North and South America sales (excluding U.S.)			1,792,220			8,565			252			900			1,801,937
Other international sales			391,374			23,534			456			13,150			428,514
Total		$	13,826,922		$	557,025		$	716,777		$	47,070		$	15,147,794

Schedule of earnings per share

		Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
		June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
Net income (loss)		$	391,752		$	(947,706)		$	262,531		$	(1,126,990)
Preferred  dividend requirements			(175,456)			(176,249)			(351,705)			(352,498)
Income (loss )applicable to common shareholders after assumed conversions		$	216,296		$	(1,123,955)		$	(89,174)		$	(1,479,488)
Average common shares outstanding			32,673,537			32,666,454			32,669,996			32,666,454
Average common and common equivalent shares outstanding — assuming dilution			32,673,537			32,666,454			32,669,996			32,666,454
Basic income (loss) per share		$	0.01		$	(0.03)		$	(0.00)		$	(0.05)
Diluted income (loss) per share		$	0.01		$	(0.03)		$	(0.00)		$	(0.05)

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13537-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13531-108611

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592

+ Details

Name:	us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration