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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020			June 30, 2019			June 30, 2020			June 30, 2019
Number of significant customers			4			3			2			3
Aggregate dollar amount of net sales to significant customers		$	6.0 million		$	4.0 million		$	6.9 million		$	7.9 million
Percentage of net sales to significant customers			52.1	%		42.7	%		30.2	%		45.4	%

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

		For the three months ended June 30, 2020:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	7,492,387		$	235,720		$	1,656,712		$	24,976		$	9,409,795
North and South America sales (excluding U.S.)			1,561,242			5,300			—			377,348			1,943,890
Other international sales			216,160			1,850			—			2,150			220,160
Total		$	9,269,789		$	242,870		$	1,656,712		$	404,474		$	11,573,845

		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 six months ended June 30, 2020:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	14,465,322		$	815,843		$	2,422,572		$	42,855		$	17,746,592
North and South America sales (excluding U.S.)			3,616,026			8,000			1,496			1,064,768			4,690,290
Other international sales			330,990			3,590			—			4,600			339,180
Total		$	18,412,338		$	827,433		$	2,424,068		$	1,112,223		$	22,776,062

		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

Schedule of earnings per share

		Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
		June 30, 2020			June 30, 2019			June 30, 2020			June 30, 2019
Net income		$	3,766,113		$	391,752		$	4,088,886		$	262,531
Preferred dividend requirements			(174,148)			(175,456)			(348,291)			(351,705)
Income (loss) applicable to common shareholders		$	3,591,965		$	216,296		$	3,740,595		$	(89,174)
Weighted average common shares outstanding			32,789,047			32,673,537			32,735,126			32,669,996
Weighted average common and common equivalent shares outstanding — assuming dilution			32,985,381			32,673,537			32,856,003			32,669,996
Basic earnings (loss) per share		$	0.11		$	0.01		$	0.11		$	(0.00)
Diluted earnings (loss) per share		$	0.11		$	0.01		$	0.11		$	(0.00)

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