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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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			Nine Months ended			Nine Months ended
		September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
Number of significant customers			2			3			2			3
Aggregate dollar amount of net sales to significant customers		$	16.4 million		$	5.0 million		$	21.7 million		$	12.6 million
Percentage of net sales to significant customers			60.6	%		43.2	%		43.6	%		43.3	%

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

		For the three months ended September 30, 2020
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales (excluding HHS Order)		$	8,241,161		$	791,961		$	3,581,723		$	9,210		$	12,624,055
HHS Order sales to U.S. Government			12,898,080			—			—			—			12,898,080
North and South America sales (excluding U.S.)			1,295,080			450			—			—			1,295,530
Other international sales			198,440			73,019			235			1,705			273,399
Total		$	22,632,761		$	865,430		$	3,581,958		$	10,915		$	27,091,064

		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 nine months ended September 30, 2020:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales (excluding HHS Order)		$	21,538,941		$	1,607,804		$	6,004,295		$	52,065		$	29,203,105
HHS Order sales to U.S. Government			14,065,623			—			—			—			14,065,623
North and South America sales (excluding U.S.)			4,911,106			8,450			1,496			1,064,768			5,985,820
Other international sales			529,430			76,609			235			6,304			612,578
Total		$	41,045,100		$	1,692,863		$	6,006,026		$	1,123,137		$	49,867,126

		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

Schedule of earnings per share

		Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
		September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
Net income		$	8,625,751		$	1,024,434		$	12,714,637		$	1,286,965
Preferred stock dividend requirements			(145,535)			(175,456)			(493,826)			(527,162)
Deemed contribution on extinguishment of preferred stock			2,525,848			—			2,519,124			—
Income applicable to common shareholders		$	11,006,064		$	848,978		$	14,739,935		$	759,803
Average common shares outstanding			33,371,471			32,674,954			32,947,241			32,671,648
Average common and common equivalent shares outstanding — assuming dilution			33,984,934			32,674,954			33,071,652			32,671,648
Basic earnings per share		$	0.33		$	0.03		$	0.45		$	0.02
Diluted earnings per share		$	0.33		$	0.03		$	0.45		$	0.02

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