Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

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 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