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Summary of significant accounting policies (Tables)
6 Months Ended
Jun. 30, 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: 

 

 

 

June 30, 2017

 

 

December 31, 2016

 

Raw materials and supplies

 

$

329,904

 

 

$

479,479

 

Work-in process

 

 

48,185

 

 

 

27,422

 

Finished goods

 

 

200,814

 

 

 

185,467

 

Total

 

$

578,903

 

 

$

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 June 30, 2017 and December 31, 2016

 

 

 

 

 

 

June 30, 2017

 

 

December 31, 2016

 

 

 

Cost

 

 

Accumulated

Amortization

 

 

Net Balance

 

 

Accumulated

Amortization

 

 

Net Balance

 

Trademarks and trade names

 

$

461,000

 

 

$

(90,627

)

 

$

370,373

 

 

$

(67,575

)

 

$

393,425

 

Developed technology

 

 

458,000

 

 

 

(128,610

)

 

 

329,390

 

 

 

(95,898

)

 

 

362,102

 

Customer relationships

 

 

1,094,000

 

 

 

(306,673

)

 

 

787,327

 

 

 

(228,529

)

 

 

865,471

 

 

 

$

2,013,000

 

 

$

(525,910

)

 

$

1,487,090

 

 

$

(392,002

)

 

$

1,620,998