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v3.22.2.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 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 | ​ | ​ | Nine Months Ended | ​ | ​ | Nine Months Ended | ​
​ |  | September 30, 2022 |  | ​ | September 30, 2021 |  | ​ | September 30, 2022 |  | ​ | September 30, 2021 | ​
Number of significant customers |  | ​ | 2 |  | ​ | ​ | 2 |  | ​ | ​ | 4 |  | ​ | ​ | 1 |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 15.5 | million | ​ | ​ | $ | 22.6 | million | ​ | ​ | $ | 60.0 | million | ​ | ​ | $ | 83.6 | million | ​
Percentage of net sales to significant customers | ​ | ​ | 67.4% | ​ | ​ | ​ | 62.1% | ​ | ​ | ​ | 73.0% | ​ | ​ | ​ | 64.8% | ​
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended September 30, 2022:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 6,947,856 | ​ | $ | 815,964 | ​ | $ | 1,426,060 | ​ | $ | 7,253 | ​ | $ | 9,197,133
Sales to U.S. government | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
North and South America sales (excluding U.S.) | ​ |  | 9,825,120 | ​ |  | — | ​ |  | — | ​ |  | 16,416 | ​ |  | 9,841,536
Other international sales | ​ |  | 3,915,102 | ​ |  | 8,590 | ​ |  | 97,724 | ​ |  | 1,200 | ​ |  | 4,022,616
Total | ​ | $ | 20,688,078 | ​ | $ | 824,554 | ​ | $ | 1,523,784 | ​ | $ | 24,869 | ​ | $ | 23,061,285
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 nine months ended September 30, 2022:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 22,220,324 | ​ | $ | 2,419,915 | ​ | $ | 4,294,603 | ​ | $ | 36,941 | ​ | $ | 28,971,783
Sales to U.S. government | ​ | ​ | 15,731,136 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,731,136
North and South America sales (excluding U.S.) | ​ |  | 24,421,790 | ​ |  | — | ​ |  | 2,608 | ​ |  | 232,834 | ​ |  | 24,657,232
Other international sales | ​ |  | 12,418,679 | ​ |  | 255,204 | ​ |  | 103,420 | ​ |  | 2,750 | ​ |  | 12,780,053
Total | ​ | $ | 74,791,929 | ​ | $ | 2,675,119 | ​ | $ | 4,400,631 | ​ | $ | 272,525 | ​ | $ | 82,140,204
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Schedule of diluted EPS under the treasury stock method | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended
​ |  | September 30, 2022 |  | September 30, 2021 | ​ | September 30, 2022 |  | September 30, 2021
Common Stock underlying issued and outstanding stock options | ​ | 60,462 |  | 142,552 | ​ | 76,370 |  | 143,780
Common stock issuable upon the conversion of convertible preferred shares | ​ | 232,445 |  | 236,445 | ​ | 232,445 |  | 236,445
​ | ​ | 292,907 |  | 378,997 | ​ | 308,815 |  | 380,225
Schedule of earnings per share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended | ​
​ |  | September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021 | ​
Net income | ​ | $ | 5,385,254 | ​ | $ | 6,521,885 | ​ | $ | 9,360,113 | ​ | $ | 35,139,894 | ​
Preferred stock dividend requirements | ​ |  | (58,111) | ​ |  | (59,111) | ​ |  | (174,333) | ​ |  | (183,219) | ​
Income applicable to common shareholders | ​ | $ | 5,327,143 | ​ | $ | 6,462,774 | ​ | $ | 9,185,780 | ​ | $ | 34,956,675 | ​
Average common shares outstanding | ​ |  | 32,936,959 | ​ |  | 33,883,684 | ​ |  | 33,049,411 | ​ |  | 33,950,742 | ​
Average common and common equivalent shares outstanding — assuming dilution | ​ |  | 33,229,866 | ​ |  | 34,262,681 | ​ |  | 33,358,225 | ​ |  | 34,330,967 | ​
Basic earnings per share | ​ | $ | 0.16 | ​ | $ | 0.19 | ​ | $ | 0.28 | ​ | $ | 1.03 | ​
Diluted earnings per share | ​ | $ | 0.16 | ​ | $ | 0.19 | ​ | $ | 0.28 | ​ | $ | 1.02 | ​

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