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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of estimated useful lives of property, plant and equipment | The Company's property, plant, and equipment primarily consist of buildings, land, assembly equipment, molding machines, molds, office equipment, furniture, and fixtures. Depreciation and amortization are calculated using the straight-line method over the following useful lives: ​
​ | ​ | ​
Production equipment |  | 3 to 13 years
Office furniture and equipment |  | 3 to 10 years
Buildings |  | 39 years
Building improvements |  | 5 to 15 years
Schedule of significant customers | The following table reflects our significant customers for the three-month and six-month periods ended June 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Three Months Ended | ​ | ​ | Six Months Ended | ​ | ​ | Six Months Ended | ​
​ |  | June 30, 2025 |  | ​ | June 30, 2024 |  | ​ | June 30, 2025 |  | ​ | June 30, 2024 | ​
Number of significant customers |  | ​ | 3 |  | ​ | ​ | 4 |  | ​ | ​ | 3 |  | ​ | ​ | 3 |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 6.0 | million | ​ | ​ | $ | 3.8 | million | ​ | ​ | $ | 10.3 | million | ​ | ​ | $ | 7.3 | million | ​
Percentage of net sales to significant customers | ​ | ​ | 57.2% | ​ | ​ | ​ | 63.0% | ​ | ​ | ​ | 55.0% | ​ | ​ | ​ | 53.6% | ​
​
Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees recognized | Disaggregated information of revenue recognized from contracts with customers and licensing fees recognized are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2025:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 4,859,995 | ​ | ​ | 294,829 | ​ | ​ | 3,325,272 | ​ | ​ | 9,581 | ​ | ​ | 8,489,677
North and South America sales (excluding U.S.) | ​ |  | 973,020 | ​ | ​ | — | ​ | ​ | 772,416 | ​ | ​ | — | ​ | ​ | 1,745,436
Other international sales | ​ |  | 95,514 | ​ | ​ | 7,948 | ​ | ​ | 97,608 | ​ | ​ | 9,550 | ​ | ​ | 210,620
Total | ​ | $ | 5,928,529 | ​ | $ | 302,777 | ​ | $ | 4,195,296 | ​ | $ | 19,131 | ​ | $ | 10,445,733
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2024:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 4,631,773 | ​ | ​ | 333,389 | ​ | ​ | 42,561 | ​ | ​ | 5,848 | ​ | $ | 5,013,571
North and South America sales (excluding U.S.) | ​ |  | 601,000 | ​ |  | — | ​ |  | 59,040 | ​ |  | 6,240 | ​ |  | 666,280
Other international sales | ​ |  | 256,133 | ​ |  | 400 | ​ |  | 87,680 | ​ |  | 5,300 | ​ |  | 349,513
Total | ​ | $ | 5,488,906 | ​ | $ | 333,789 | ​ | $ | 189,281 | ​ | $ | 17,388 | ​ | $ | 6,029,364
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2025:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 10,998,270 | ​ | ​ | 638,662 | ​ | ​ | 4,267,790 | ​ | ​ | 17,265 | ​ | ​ | 15,921,987
North and South America sales (excluding U.S.) | ​ |  | 1,526,520 | ​ | ​ | — | ​ | ​ | 772,416 | ​ | ​ | — | ​ | ​ | 2,298,936
Other international sales | ​ |  | 363,878 | ​ | ​ | 7,947 | ​ | ​ | 138,608 | ​ | ​ | 9,550 | ​ | ​ | 519,983
Total | ​ | $ | 12,888,668 | ​ | $ | 646,609 | ​ | $ | 5,178,814 | ​ | $ | 26,815 | ​ | $ | 18,740,906
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2024:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 10,185,082 | ​ | ​ | 700,998 | ​ | ​ | 755,432 | ​ | ​ | 13,226 | ​ | $ | 11,654,738
North and South America sales (excluding U.S.) | ​ |  | 755,537 | ​ | ​ | 96 | ​ | ​ | 59,040 | ​ | ​ | 6,240 | ​ |  | 820,913
Other international sales | ​ |  | 828,612 | ​ | ​ | 143,860 | ​ | ​ | 174,704 | ​ | ​ | 5,900 | ​ |  | 1,153,076
Total | ​ | $ | 11,769,231 | ​ | $ | 844,954 | ​ | $ | 989,176 | ​ | $ | 25,366 | ​ | $ | 13,628,727
​
Schedule of potential dilution | The potential dilution, if any, is shown on the following schedule:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended | ​
​ |  | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024 | ​
Common stock underlying issued and outstanding stock options | ​ | — |  | 1,524 | ​ | — |  | 5,007 | ​
Common stock issuable upon the conversion of convertible preferred shares | ​ | — |  | — | ​ | — |  | — | ​
​ | ​ | — |  | 1,524 | ​ | — |  | 5,007 | ​
Schedule of diluted EPS under the treasury stock method | ​ The calculation of diluted EPS under the treasury stock method included the following shares in the three and six month periods ending June 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended | ​
​ |  | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024 | ​
Net loss | ​ | $ | (87,471) | ​ | $ | (14,164,640) | ​ | $ | (10,588,187) | ​ | $ | (13,735,256) | ​
Preferred stock dividend requirements | ​ |  | (57,611) | ​ |  | (57,611) | ​ |  | (115,222) | ​ |  | (115,222) | ​
Loss applicable to common shareholders | ​ | $ | (145,082) | ​ | $ | (14,222,251) | ​ | $ | (10,703,409) | ​ | $ | (13,850,478) | ​
Average common shares outstanding | ​ |  | 29,937,159 | ​ |  | 29,937,159 | ​ |  | 29,937,159 | ​ |  | 29,937,159 | ​
Average common and common equivalent shares outstanding — diluted | ​ |  | 29,937,159 | ​ |  | 29,937,159 | ​ |  | 29,937,159 | ​ |  | 29,937,159 | ​
Basic loss per share | ​ | $ | (0.00) | ​ | $ | (0.48) | ​ | $ | (0.36) | ​ | $ | (0.46) | ​
Diluted loss per share | ​ | $ | (0.00) | ​ | $ | (0.48) | ​ | $ | (0.36) | ​ | $ | (0.46) | ​
​

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