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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

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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