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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 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 | ​ | ​ | Six Months Ended | ​ | ​ | Six Months Ended | ​
​ |  | June 30, 2023 |  | ​ | June 30, 2022 |  | ​ | June 30, 2023 |  | ​ | June 30, 2022 | ​
Number of significant customers |  | ​ | 3 |  | ​ | ​ | 3 |  | ​ | ​ | 3 |  | ​ | ​ | 4 |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 4.4 | million | ​ | ​ | $ | 8.3 | million | ​ | ​ | $ | 10.2 | million | ​ | ​ | $ | 44.4 | million | ​
Percentage of net sales to significant customers | ​ | ​ | 55.0% | ​ | ​ | ​ | 57.6% | ​ | ​ | ​ | 53.9% | ​ | ​ | ​ | 75.2% | ​
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees recognized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2023:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 5,780,080 | ​ | $ | 346,297 | ​ | $ | 1,165,634 | ​ | $ | 8,665 | ​ | $ | 7,300,676
Sales to U.S. government | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
North and South America sales (excluding U.S.) | ​ |  | 210,232 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 210,232
Other international sales | ​ |  | 366,312 | ​ |  | 1,748 | ​ |  | 87,612 | ​ |  | 4,700 | ​ |  | 460,372
Total | ​ | $ | 6,356,624 | ​ | $ | 348,045 | ​ | $ | 1,253,246 | ​ | $ | 13,365 | ​ | $ | 7,971,280
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three 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) | ​ | $ | 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 six months ended June 30, 2023:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales (excluding U.S. government) | ​ | $ | 10,583,166 | ​ | $ | 744,673 | ​ | $ | 1,378,121 | ​ | $ | 18,164 | ​ | $ | 12,724,124
Sales to U.S. government | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
North and South America sales (excluding U.S.) | ​ |  | 4,771,512 | ​ |  | — | ​ |  | — | ​ |  | 212,040 | ​ |  | 4,983,552
Other international sales | ​ |  | 871,854 | ​ |  | 213,948 | ​ |  | 174,204 | ​ |  | 4,700 | ​ |  | 1,264,706
Total | ​ | $ | 16,226,532 | ​ | $ | 958,621 | ​ | $ | 1,552,325 | ​ | $ | 234,904 | ​ | $ | 18,972,382
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Schedule of diluted EPS under the treasury stock method | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended
​ |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Common Stock underlying issued and outstanding stock options | ​ | 16,033 | ​ | 78,322 | ​ | 22,041 | ​ | 88,347
Common stock issuable upon the conversion of convertible preferred shares | ​ | — | ​ | 232,445 | ​ | — | ​ | 232,445
​ | ​ | 16,033 | ​ | 310,767 | ​ | 22,041 | ​ | 320,792
Schedule of earnings per share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended | ​
​ |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022 | ​
Net income (loss) | ​ | $ | (3,868,568) | ​ | $ | (3,641,597) | ​ | $ | (2,877,596) | ​ | $ | 3,974,858 | ​
Preferred stock dividend requirements | ​ |  | (58,111) | ​ |  | (58,111) | ​ |  | (116,222) | ​ |  | (116,222) | ​
Income (loss) applicable to common shareholders | ​ | $ | (3,926,679) | ​ | $ | (3,699,708) | ​ | $ | (2,993,818) | ​ | $ | 3,858,636 | ​
Average common shares outstanding | ​ |  | 29,937,159 | ​ |  | 32,945,821 | ​ |  | 29,937,159 | ​ |  | 33,105,637 | ​
Average common and common equivalent shares outstanding — assuming dilution | ​ |  | 30,169,604 | ​ |  | 33,256,588 | ​ |  | 30,169,604 | ​ |  | 33,426,429 | ​
Basic earnings (loss) per share | ​ | $ | (0.13) | ​ | $ | (0.11) | ​ | $ | (0.10) | ​ | $ | 0.12 | ​
Diluted earnings (loss) per share | ​ | $ | (0.13) | ​ | $ | (0.11) | ​ | $ | (0.10) | ​ | $ | 0.12 | ​

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