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Summary of significant accounting policies (Tables)
 3 Months Ended
Mar. 31, 2017
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

 

 
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