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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 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 nine-month periods ended September 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Three Months Ended | ​ | ​ | Nine Months Ended | ​ | ​ | Nine Months Ended | ​
​ |  | September 30, 2025 |  | ​ | September 30, 2024 |  | ​ | September 30, 2025 |  | ​ | September 30, 2024 | ​
Number of significant customers |  | ​ | 3 |  | ​ | ​ | 2 |  | ​ | ​ | 3 |  | ​ | ​ | 3 |
Aggregate dollar amount of net sales to significant customers | ​ | $ | 5.8 | million | ​ | ​ | $ | 5.5 | million | ​ | ​ | $ | 16.1 | million | ​ | ​ | $ | 12.8 | million | ​
Percentage of net sales to significant customers | ​ | ​ | 57.3% | ​ | ​ | ​ | 53.2% | ​ | ​ | ​ | 55.9% | ​ | ​ | ​ | 53.4% | ​
​
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 September 30, 2025:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 5,508,018 | ​ | $ | 367,681 | ​ | $ | 3,303,166 | ​ | $ | 8,711 | ​ | $ | 9,187,576
North and South America sales (excluding U.S.) | ​ |  | 144,326 | ​ | ​ | — | ​ | ​ | 405,472 | ​ | ​ | — | ​ | ​ | 549,798
Other international sales | ​ |  | 195,414 | ​ | ​ | 5,070 | ​ | ​ | 145,116 | ​ | ​ | 2,749 | ​ | ​ | 348,349
Total | ​ | $ | 5,847,758 | ​ | $ | 372,751 | ​ | $ | 3,853,754 | ​ | $ | 11,460 | ​ | $ | 10,085,723
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended September 30, 2024:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 4,470,036 | ​ | $ | 290,926 | ​ | $ | 4,860,327 | ​ | $ | 7,319 | ​ | $ | 9,628,608
North and South America sales (excluding U.S.) | ​ |  | 569,970 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | 569,970
Other international sales | ​ |  | 132,817 | ​ | ​ | 7,790 | ​ | ​ | 3,572 | ​ | ​ | 4,100 | ​ |  | 148,279
Total | ​ | $ | 5,172,823 | ​ | $ | 298,716 | ​ | $ | 4,863,899 | ​ | $ | 11,419 | ​ | $ | 10,346,857
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the nine months ended September 30, 2025:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 16,506,288 | ​ | $ | 1,006,343 | ​ | $ | 7,570,956 | ​ | $ | 25,976 | ​ | $ | 25,109,563
North and South America sales (excluding U.S.) | ​ |  | 1,670,846 | ​ | ​ | — | ​ | ​ | 1,177,888 | ​ | ​ | — | ​ | ​ | 2,848,734
Other international sales | ​ |  | 559,292 | ​ | ​ | 13,018 | ​ | ​ | 283,724 | ​ | ​ | 12,298 | ​ | ​ | 868,332
Total | ​ | $ | 18,736,426 | ​ | $ | 1,019,361 | ​ | $ | 9,032,568 | ​ | $ | 38,274 | ​ | $ | 28,826,629
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the nine months ended September 30, 2024:
​ |  | ​ | ​ |  | Blood |  | ​ | ​ |  | ​ | ​ |  | Total
​ | ​ | ​ | ​ | ​ | Collection | ​ | EasyPoint® | ​ | Other | ​ | Product
Geographic Segment | ​ | Syringes | ​ | Products | ​ | Needles | ​ | Products | ​ | Sales
U.S. sales | ​ | $ | 14,655,118 | ​ | ​ | 991,924 | ​ | $ | 5,615,759 | ​ | $ | 20,545 | ​ | $ | 21,283,346
North and South America sales (excluding U.S.) | ​ |  | 1,325,507 | ​ | ​ | 96 | ​ | ​ | 59,040 | ​ | ​ | 6,240 | ​ |  | 1,390,883
Other international sales | ​ |  | 961,429 | ​ | ​ | 151,650 | ​ | ​ | 178,276 | ​ | ​ | 10,000 | ​ |  | 1,301,355
Total | ​ | $ | 16,942,054 | ​ | $ | 1,143,670 | ​ | $ | 5,853,075 | ​ | $ | 36,785 | ​ | $ | 23,975,584
​
Schedule of potential dilution | The potential dilution, if any, is shown on the following schedule:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended | ​
​ |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024 | ​
Common stock underlying issued and outstanding stock options | ​ | — |  | — | ​ | — |  | 2,706 | ​
Common stock issuable upon the conversion of convertible preferred shares | ​ | — |  | — | ​ | — |  | — | ​
​ | ​ | — |  | — | ​ | — |  | 2,706 | ​
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 nine month periods ending September 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended | ​
​ |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024 | ​
Net income (loss) | ​ | $ | 371,047 | ​ | $ | (1,921,989) | ​ | $ | (10,217,140) | ​ | $ | (15,657,246) | ​
Preferred stock dividend requirements | ​ |  | (57,611) | ​ |  | (57,611) | ​ |  | (172,833) | ​ |  | (172,832) | ​
Income (loss) applicable to common shareholders | ​ | $ | 313,436 | ​ | $ | (1,979,600) | ​ | $ | (10,389,973) | ​ | $ | (15,830,078) | ​
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 earnings (loss) per share | ​ | $ | 0.01 | ​ | $ | (0.07) | ​ | $ | (0.35) | ​ | $ | (0.53) | ​
Diluted earnings (loss) per share | ​ | $ | 0.01 | ​ | $ | (0.07) | ​ | $ | (0.35) | ​ | $ | (0.53) | ​
​

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