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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 31, 2023
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 | ​
​ |  | March 31, 2023 |  | ​ | March 31, 2022 | ​
Number of significant customers |  | ​ | 3 |  | ​ | ​ | 3 |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 7.0 | million | ​ | ​ | $ | 33.8 | million | ​
Percentage of net sales to significant customers | ​ | ​ | 63.5% | ​ | ​ | ​ | 75.6% | ​
​
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees recognized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31, 2023:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 4,803,086 | ​ | $ | 398,376 | ​ | $ | 212,487 | ​ | $ | 9,499 | ​ | $ | 5,423,448
Sales to U.S. government | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
North and South America sales (excluding U.S.) | ​ |  | 4,561,280 | ​ |  | — | ​ |  | — | ​ |  | 212,040 | ​ |  | 4,773,320
Other international sales | ​ |  | 505,542 | ​ |  | 212,200 | ​ |  | 86,592 | ​ |  | — | ​ |  | 804,334
Total | ​ | $ | 9,869,908 | ​ | $ | 610,576 | ​ | $ | 299,079 | ​ | $ | 221,539 | ​ | $ | 11,001,102
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31, 2022:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 8,395,303 | ​ | $ | 1,077,695 | ​ | $ | 729,970 | ​ | $ | 9,874 | ​ | $ | 10,212,842
Sales to U.S. government | ​ | ​ | 15,731,136 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,731,136
North and South America sales (excluding U.S.) | ​ |  | 11,074,246 | ​ | ​ | — | ​ | ​ | 2,608 | ​ | ​ | 274 | ​ |  | 11,077,128
Other international sales | ​ |  | 7,505,438 | ​ | ​ | 211,368 | ​ | ​ | 2,888 | ​ | ​ | 1,550 | ​ |  | 7,721,244
Total | ​ | $ | 42,706,123 | ​ | $ | 1,289,063 | ​ | $ | 735,466 | ​ | $ | 11,698 | ​ | $ | 44,742,350
​
Schedule of diluted EPS under the treasury stock method | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | ​
​ |  | March 31, 2023 |  | March 31, 2022 | ​ | ​
Common Stock underlying issued and outstanding stock options | ​ | 26,604 |  | 96,244 | ​ | ​
Common stock issuable upon the conversion of convertible preferred shares | ​ | — |  | 232,445 | ​ | ​
​ | ​ | 26,604 |  | 328,689 | ​ | ​
​
Schedule of earnings per share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | ​
​ |  | March 31, 2023 |  | March 31, 2022 |  | ​
Net income | ​ | $ | 990,972 | ​ | $ | 7,616,455 | ​ | ​
Preferred stock dividend requirements | ​ |  | (58,111) | ​ |  | (58,111) | ​ | ​
Income applicable to common shareholders | ​ | $ | 932,861 | ​ | $ | 7,558,344 | ​ | ​
Average common shares outstanding | ​ |  | 29,937,159 | ​ |  | 33,265,453 | ​ | ​
Average common and common equivalent shares outstanding — assuming dilution | ​ |  | 29,963,763 | ​ |  | 33,594,142 | ​ | ​
Basic earnings per share | ​ | $ | 0.03 | ​ | $ | 0.23 | ​ | ​
Diluted earnings per share | ​ | $ | 0.03 | ​ | $ | 0.23 | ​ | ​
​

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