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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 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 |
|  | Years Ended December 31, |
|  | 2020 |  | 2019 |  | 2018 |
Number of significant customers |  |  | 2 |  |  | 3 |  |  | 2 |
Aggregate dollar amount of net sales to significant customers |  | $ | 41.6 million |  | $ | 19.0 million |  | $ | 13.1 million |
Percentage of net sales to significant customers |  |  | 50.6 | % |  | 45.6 | % |  | 39.2 | %
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees |
|  | For the year ended December 31, 2020:
|  |  |  |  | Blood |  |  |  |  |  |  |  | Total
|  |  |  |  | Collection |  | EasyPoint® |  | Other |  | Product
Geographic Segment |  | Syringes |  | Products |  | Needles |  | Products |  | Sales
U.S. sales (excluding HHS Order) |  | $ | 30,446,858 |  | $ | 2,116,108 |  | $ | 9,542,122 |  | $ | 64,375 |  | $ | 42,169,463
HHS Order sales to U.S. government |  |  | 31,634,343 |  |  | — |  |  | — |  |  | — |  |  | 31,634,343
North and South America sales (excluding U.S.) |  |  | 5,733,116 |  |  | 8,450 |  |  | 86,816 |  |  | 1,064,768 |  |  | 6,893,150
Other international sales |  |  | 917,478 |  |  | 239,329 |  |  | 235 |  |  | 8,455 |  |  | 1,165,497
Total |  | $ | 68,731,795 |  | $ | 2,363,887 |  | $ | 9,629,173 |  | $ | 1,137,598 |  | $ | 81,862,453
|  | For the year ended December 31, 2019:
|  |  |  |  | Blood |  |  |  |  |  |  |  | Total
|  |  |  |  | Collection |  | EasyPoint® |  | Other |  | 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 |  |  |  |  |  |  |  | Total
|  |  |  |  | Collection |  | EasyPoint® |  | Other |  | 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
Schedule of earnings per share |
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Net income (loss) |  | $ | 24,223,013 |  | $ | 3,148,234 |  | $ | (1,339,943)
Preferred stock dividend requirements |  |  | (573,868) |  |  | (702,618) |  |  | (704,996)
Deemed contribution on extinguishment of preferred stock |  |  | 2,975,708 |  |  | — |  |  | —
Income (loss) applicable to common stockholders |  | $ | 26,624,853 |  | $ | 2,445,616 |  | $ | (2,044,939)
Weighted Average common shares outstanding |  |  | 33,169,307 |  |  | 32,672,475 |  |  | 32,666,454
Weighted Average common and common equivalent shares outstanding - assuming dilution |  |  | 33,300,654 |  |  | 32,672,475 |  |  | 32,666,454
Basic earnings (loss) per share |  | $ | 0.80 |  | $ | 0.07 |  | $ | (0.06)
Diluted earnings (loss) per share |  | $ | 0.80 |  | $ | 0.07 |  | $ | (0.06)

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