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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 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

		Years Ended December 31,
		2019			2018			2017
Number of significant customers			3			2			2
Aggregate dollar amount of net sales to significant customers		$	19.0 million		$	13.1 million		$	14.0  million
Percentage of net sales to significant customers			45.6	%		39.2	%		40.5	%

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

		For the year ended December 31, 2019:
					Blood
					Collection			EasyPoint(R)			Other			Total Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	26,722,414		$	2,130,767		$	2,970,374		$	74,369		$	31,897,924
North and South America sales (excluding U.S.)			7,863,796			6,313			7,996			370,885			8,248,990
Other international sales			1,052,217			578,617			635			18,796			1,650,265
Total		$	35,638,427		$	2,715,697		$	2,979,005		$	464,050		$	41,797,179

		For the year ended December 31, 2018:
					Blood
					Collection			EasyPoint(R)			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(R)			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

Schedule of earnings per share

		Years Ended December 31,
		2019			2018			2017
Net income (loss)		$	3,148,234		$	(1,339,943)		$	(3,736,038)
Preferred dividend requirements			(702,618)			(704,996)			(704,996)
Income (loss) applicable to common shareholders		$	2,445,616		$	(2,044,939)		$	(4,441,034)
Weighted average common shares outstanding			32,672,475			32,666,454			31,958,121
Weighted average common and common equivalent shares outstanding - assuming dilution			32,672,475			32,666,454			31,958,121
Basic earnings (loss) per share		$	0.07		$	(0.06)		$	(0.14)
Diluted earnings (loss) per share		$	0.07		$	(0.06)		$	(0.14)

Schedule of share-based compensation costs

		Years Ended December 31,
		2019			2018			2017
Cost of sales		$	—		$	—		$	272,811
Sales and marketing			—			—			143,255
Research and development			—			—			45,174
General and administrative			—			—			210,983
		$	—		$	—		$	672,223

Schedule of ASU 2016-02 lease adjustment

Balance Sheet as of December 31, 2018		As Previously     Reported			New Lease Adjustment						As 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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