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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2021
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, 2021 |  | June 30, 2020 |  |  | June 30, 2021 |  | June 30, 2020 |  | ​
Number of significant customers |  | ​ | 1 |  | ​ | 4 |  |  | ​ | 1 |  | ​ | 2 |  |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 27.4 million | ​ | $ | 6.0 million | ​ | ​ | $ | 65.1 million | ​ | $ | 6.9 million | ​ | ​
Percentage of net sales to significant customers | ​ | ​ | 64.4 | % | ​ | 52.1 | % | ​ | ​ | 70.4 | % | ​ | 30.2 | % | ​
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 six months ended June 30, 2021:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 19,652,047 | ​ | $ | 1,030,826 | ​ | $ | 2,971,268 | ​ | $ | 28,946 | ​ | $ | 23,683,087
Sales to U.S. government | ​ | ​ | 65,140,200 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 65,140,200
North and South America sales (excluding U.S.) | ​ |  | 2,293,328 | ​ |  | — | ​ |  | 56,848 | ​ |  | 109,440 | ​ |  | 2,459,616
Other international sales | ​ |  | 771,836 | ​ |  | 62,640 | ​ |  | 450,440 | ​ |  | 2,850 | ​ |  | 1,287,766
Total | ​ | $ | 87,857,411 | ​ | $ | 1,093,466 | ​ | $ | 3,478,556 | ​ | $ | 141,236 | ​ | $ | 92,570,669
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Schedule of earnings per share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended | ​
​ |  | June 30, 2021 |  | June 30, 2020 |  | June 30, 2021 |  | June 30, 2020 | ​
Net income | ​ | $ | 10,662,125 | ​ | $ | 3,766,113 | ​ | $ | 28,618,009 | ​ | $ | 4,088,886 | ​
Preferred stock dividend requirements | ​ |  | (59,170) | ​ |  | (174,148) | ​ |  | (124,108) | ​ |  | (348,291) | ​
Income applicable to common shareholders | ​ | $ | 10,602,955 | ​ | $ | 3,591,965 | ​ | $ | 28,493,901 | ​ | $ | 3,740,595 | ​
Weighted average common shares outstanding | ​ |  | 34,000,771 | ​ |  | 32,789,047 | ​ |  | 33,984,271 | ​ |  | 32,735,126 | ​
Weighted average common and common equivalent shares outstanding — assuming dilution | ​ |  | 34,376,335 | ​ |  | 32,985,381 | ​ |  | 34,365,092 | ​ |  | 32,856,003 | ​
Basic earnings per share | ​ | $ | 0.31 | ​ | $ | 0.11 | ​ | $ | 0.84 | ​ | $ | 0.11 | ​
Diluted earnings per share | ​ | $ | 0.31 | ​ | $ | 0.11 | ​ | $ | 0.83 | ​ | $ | 0.11 | ​
Schedule of share-based compensation costs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended
​ |  | June 30, 2021 |  | June 30, 2020 |  | June 30, 2021 |  | June 30, 2020
Cost of Sales | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Sales and Marketing | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Research and development | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
General and administrative | ​ | ​ | 1,345,915 | ​ | ​ | — | ​ | ​ | 1,345,915 | ​ | ​ | —
​ | ​ | $ | 1,345,915 | ​ | $ | — | ​ | $ | 1,345,915 | ​ | $ | —

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