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Summary of Significant Accounting Policies (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Accounting Policies [Abstract]    
Schedule of Inventories

 

Inventories are valued using the first-in, first-out method and stated at the lower of cost or market and consist of the following: 

 

    March 31, 2017     December 31, 2016  
Raw materials and supplies   $ 410,945     $ 479,479  
Work-in process     68,031       27,422  
Finished goods     163,985       185,467  
Total   $ 642,961     $ 692,368  

 

 

Inventories are valued using the first-in, first-out method and stated at the lower of cost or market and consist of the following:

 

    December 31, 2016     December 31, 2015  
Raw materials and supplies   $ 479,479     $ 362,526  
Work-in process     27,422       150,369  
Finished goods     185,467       313,117  
Total   $ 692,368     $ 826,012  

 

 

Property, Plant and Equipment  

Property and equipment consisted of the following at December 31, 2016 and 2015:

 

    December 31,  
    2016     2015  
Laboratory and manufacturing equipment   $ 3,785,133     $ 3,734,044  
Office furniture and equipment     688,952       701,557  
Computers and network equipment     1,472,144       1,563,177  
Leasehold improvements     662,506       659,949  
      6,608,735       6,658,727  
Less accumulated depreciation     (5,808,012 )     (5,584,017 )
Property and equipment, net   $ 800,723     $ 1,074,710  

 

 

Schedule of Finite-Lived Intangible Assets

Finite-lived intangible assets include trademarks, developed technology and customer relationships and consisted of the following as of March 31, 2017 and December 31, 2016

            March 31, 2017     December 31, 2016  
    Cost    

Accumulated

Amortization

    Net Balance    

Accumulated

Amortization

    Net Balance  
Trademarks and tradenames   $ 461,000     $ (79,101 )   $ 381,899     $ (67,575 )   $ 393,425  
Developed technology     458,000       (112,254 )     345,746       (95,898 )     362,102  
Customer relationships     1,094,000       (267,601 )     826,399       (228,529 )     865,471  
    $ 2,013,000     $ (458,956 )   $ 1,554,044     $ (392,002 )   $ 1,620,998  

 

 

Finite-lived intangible assets include trademarks, developed technology and customer relationships, and consisted of the following as of December 31, 2016 and 2015:

 

            December 31, 2016     December 31, 2015  
    Cost    

Accumulated

Amortization

    Net Balance    

Accumulated

Amortization

    Net Balance  
Trademarks and tradenames   $ 461,000     $ (67,575 )   $ 393,425     $ (21,471 )   $ 439,529  
Developed technology     458,000       (95,898 )     362,102       (30,474 )     427,526  
Customer relationships     1,094,000       (228,529 )     865,471       (72,241 )     1,021,759  
    $ 2,013,000     $ (392,002 )   $ 1,620,998     $ (124,186 )   $ 1,888,814