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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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			Nine Months ended			Nine Months ended
		September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Number of significant customers			3			3			3			2
Aggregate dollar amount of net sales to significant customers		$	5.0 million		$	5.4 million		$	12.6 million		$	10.0 million
Percentage of net sales to significant customers			43.2	%		55.2	%		43.3	%		39.9	%

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

		For the three months ended September 30, 2019:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	7,356,305		$	462,096		$	1,197,176		$	23,631		$	9,039,208
North and South America sales (excluding U.S.)			2,344,956			1,150			528			86,100			2,432,734
Other international sales			162,296			2,006			396			2,946			167,644
Total		$	9,863,557		$	465,252		$	1,198,100		$	112,677		$	11,639,586

		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 nine months ended September 30, 2019:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	19,150,535		$	1,389,943		$	2,439,139		$	51,605		$	23,031,222
North and South America sales (excluding U.S.)			4,867,104			5,313			1,044			87,025			4,960,486
Other international sales			622,945			374,498			543			178,256			1,176,242
Total		$	24,640,584		$	1,769,754		$	2,440,726		$	316,886		$	29,167,950

		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

Schedule of earnings per share

		Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
		September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Net income (loss)		$	1,024,434		$	(63,417)		$	1,286,965		$	(1,190,407)
Preferred stock dividend requirements			(175,456)			(176,249)			(527,162)			(528,747)
Income (loss )applicable to common shareholders		$	848,978		$	(239,666)		$	759,803		$	(1,719,154)
Average common shares outstanding			32,674,954			32,666,454			32,671,648			32,666,454
Average common and common equivalent shares outstanding — assuming dilution			32,674,954			32,666,454			32,671,648			32,666,454
Basic income (loss) per share		$	0.03		$	(0.01)		$	0.02		$	(0.05)
Diluted income (loss) per share		$	0.03		$	(0.01)		$	0.02		$	(0.05)

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