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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

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