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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 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 | ​ | ​ | Nine Months Ended | ​ | ​ | Nine Months Ended | ​
​ |  | September 30, 2021 |  | ​ | September 30, 2020 |  | ​ | September 30, 2021 |  | ​ | September 30, 2020 | ​
Number of significant customers | ​ | 2 |  | ​ | ​ | 2 |  | ​ | ​ | 1 |  | ​ | ​ | 2 |
Aggregate dollar amount of net sales to significant customers | $ | 22.6 | million | ​ | ​ | $ | 16.4 | million | ​ | ​ | $ | 83.6 | million | ​ | ​ | $ | 21.7 | million | ​
Percentage of net sales to significant customers | ​ | 62.1% | ​ | ​ | ​ | 60.6% | ​ | ​ | ​ | 64.8% | ​ | ​ | ​ | 43.6% | ​
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended September 30, 2021:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 11,033,291 | ​ | $ | 560,065 | ​ | $ | 4,048,292 | ​ | $ | 11,399 | ​ | $ | 15,653,047
Sales to U.S. government | ​ | ​ | 18,420,480 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 18,420,480
North and South America sales (excluding U.S.) | ​ |  | 670,602 | ​ |  | 4,800 | ​ |  | 26,400 | ​ |  | — | ​ |  | 701,802
Other international sales | ​ |  | 1,389,226 | ​ |  | 900 | ​ |  | 189,992 | ​ |  | 600 | ​ |  | 1,580,718
Total | ​ | $ | 31,513,599 | ​ | $ | 565,765 | ​ | $ | 4,264,684 | ​ | $ | 11,999 | ​ | $ | 36,356,047
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 U.S. government) | ​ | $ | 8,241,161 | ​ | $ | 791,961 | ​ | $ | 3,581,723 | ​ | $ | 9,210 | ​ | $ | 12,624,055
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 nine months ended September 30, 2021:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 30,685,338 | ​ | $ | 1,590,891 | ​ | $ | 7,019,560 | ​ | $ | 40,345 | ​ | $ | 39,336,134
Sales to U.S. government | ​ | ​ | 83,560,680 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 83,560,680
North and South America sales (excluding U.S.) | ​ |  | 2,963,930 | ​ |  | 4,800 | ​ |  | 83,248 | ​ |  | 109,440 | ​ |  | 3,161,418
Other international sales | ​ |  | 2,161,062 | ​ |  | 63,540 | ​ |  | 640,432 | ​ |  | 3,450 | ​ |  | 2,868,484
Total | ​ | $ | 119,371,010 | ​ | $ | 1,659,231 | ​ | $ | 7,743,240 | ​ | $ | 153,235 | ​ | $ | 128,926,716
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 U.S. government) | ​ | $ | 21,538,941 | ​ | ​ | 1,607,804 | ​ | ​ | 6,004,295 | ​ | ​ | 52,065 | ​ | $ | 29,203,105
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
Schedule of earnings per share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended | ​
​ |  | September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020 | ​
Net income | ​ | $ | 6,521,885 | ​ | $ | 8,625,751 | ​ | $ | 35,139,894 | ​ | $ | 12,714,637 | ​
Preferred stock dividend requirements | ​ |  | (59,111) | ​ |  | (145,535) | ​ |  | (183,219) | ​ |  | (493,826) | ​
Deemed contribution on extinguishment of preferred stock | ​ | ​ | — | ​ | ​ | 2,525,848 | ​ | ​ | — | ​ | ​ | 2,519,124 | ​
Income applicable to common shareholders | ​ | $ | 6,462,774 | ​ | $ | 11,006,064 | ​ | $ | 34,956,675 | ​ | $ | 14,739,935 | ​
Average common shares outstanding | ​ |  | 33,883,684 | ​ |  | 33,371,471 | ​ |  | 33,950,742 | ​ |  | 32,947,241 | ​
Average common and common equivalent shares outstanding — assuming dilution | ​ |  | 34,262,681 | ​ |  | 33,984,934 | ​ |  | 34,330,967 | ​ |  | 33,071,652 | ​
Basic earnings per share | ​ | $ | 0.19 | ​ | $ | 0.33 | ​ | $ | 1.03 | ​ | $ | 0.45 | ​
Diluted earnings per share | ​ | $ | 0.19 | ​ | $ | 0.33 | ​ | $ | 1.02 | ​ | $ | 0.45 | ​
Schedule of share-based compensation costs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended
​ |  | September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020
Cost of Sales | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Sales and Marketing | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Research and development | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
General and administrative | ​ | ​ | 1,157,236 | ​ | ​ | — | ​ | ​ | 2,503,152 | ​ | ​ | —
​ | ​ | $ | 1,157,236 | ​ | $ | — | ​ | $ | 2,503,152 | ​ | $ | —

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