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v3.22.2.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 |  | ​ | June 30, 2021 |  | ​ | June 30, 2022 |  | ​ | June 30, 2021 | ​
Number of significant customers |  | ​ | 3 |  | ​ | ​ | 1 |  | ​ | ​ | 4 |  | ​ | ​ | 1 |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 8.3 | million | ​ | ​ | $ | 27.4 | million | ​ | ​ | $ | 44.4 | million | ​ | ​ | $ | 65.1 | million | ​
Percentage of net sales to significant customers | ​ | ​ | 57.6% | ​ | ​ | ​ | 64.4% | ​ | ​ | ​ | 75.2% | ​ | ​ | ​ | 70.4% | ​
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2022:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 6,877,166 | ​ | $ | 526,256 | ​ | $ | 2,138,573 | ​ | $ | 19,814 | ​ | $ | 9,561,809
Sales to U.S. government | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
North and South America sales (excluding U.S.) | ​ |  | 4,096,984 | ​ |  | — | ​ |  | — | ​ |  | 216,144 | ​ |  | 4,313,128
Other international sales | ​ |  | 423,578 | ​ |  | 35,246 | ​ |  | 2,808 | ​ |  | — | ​ |  | 461,632
Total | ​ | $ | 11,397,728 | ​ | $ | 561,502 | ​ | $ | 2,141,381 | ​ | $ | 235,958 | ​ | $ | 14,336,569
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three 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) | ​ | $ | 10,892,733 | ​ | $ | 456,818 | ​ | $ | 1,358,935 | ​ | $ | 13,410 | ​ | $ | 12,721,896
Sales to U.S. government | ​ | ​ | 27,357,840 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27,357,840
North and South America sales (excluding U.S.) | ​ |  | 1,467,508 | ​ |  | — | ​ |  | 44,880 | ​ |  | — | ​ |  | 1,512,388
Other international sales | ​ |  | 572,520 | ​ |  | 25,290 | ​ |  | 305,660 | ​ |  | 1,350 | ​ |  | 904,820
Total | ​ | $ | 40,290,601 | ​ | $ | 482,108 | ​ | $ | 1,709,475 | ​ | $ | 14,760 | ​ | $ | 42,496,944
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2022:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 15,272,468 | ​ | $ | 1,603,951 | ​ | $ | 2,868,543 | ​ | $ | 29,688 | ​ | $ | 19,774,650
Sales to U.S. government | ​ | ​ | 15,731,136 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,731,136
North and South America sales (excluding U.S.) | ​ |  | 15,171,230 | ​ |  | — | ​ |  | 2,608 | ​ |  | 216,418 | ​ |  | 15,390,256
Other international sales | ​ |  | 7,929,017 | ​ |  | 246,614 | ​ |  | 5,696 | ​ |  | 1,550 | ​ |  | 8,182,877
Total | ​ | $ | 54,103,851 | ​ | $ | 1,850,565 | ​ | $ | 2,876,847 | ​ | $ | 247,656 | ​ | $ | 59,078,919
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Schedule of diluted EPS under the treasury stock method | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended
​ |  | June 30, 2022 |  | June 30, 2021 | ​ | June 30, 2022 |  | June 30, 2021
Common Stock underlying issued and outstanding stock options | ​ | 78,322 |  | 139,119 | ​ | 88,347 |  | 144,376
Common stock issuable upon the conversion of convertible preferred shares | ​ | 232,445 |  | 236,445 | ​ | 232,445 |  | 236,445
​ | ​ | 310,767 |  | 375,564 | ​ | 320,792 |  | 380,821
Schedule of earnings per share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended | ​
​ |  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021 | ​
Net income (loss) | ​ | $ | (3,641,597) | ​ | $ | 10,662,125 | ​ | $ | 3,974,858 | ​ | $ | 28,618,009 | ​
Preferred stock dividend requirements | ​ |  | (58,111) | ​ |  | (59,170) | ​ |  | (116,222) | ​ |  | (124,108) | ​
Income (loss) applicable to common shareholders | ​ | $ | (3,699,708) | ​ | $ | 10,602,955 | ​ | $ | 3,858,636 | ​ | $ | 28,493,901 | ​
Average common shares outstanding | ​ |  | 32,945,821 | ​ |  | 34,000,771 | ​ |  | 33,105,637 | ​ |  | 33,984,271 | ​
Average common and common equivalent shares outstanding — assuming dilution | ​ |  | 33,256,588 | ​ |  | 34,376,335 | ​ |  | 33,426,429 | ​ |  | 34,365,092 | ​
Basic earnings (loss) per share | ​ | $ | (0.11) | ​ | $ | 0.31 | ​ | $ | 0.12 | ​ | $ | 0.84 | ​
Diluted earnings (loss) per share | ​ | $ | (0.11) | ​ | $ | 0.31 | ​ | $ | 0.12 | ​ | $ | 0.83 | ​

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