Summary of significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2018

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

	June 30, 2018		December 31, 2017
Raw materials and supplies	$	409,961	$	360,134
Work-in process		79,098		51,233
Finished goods		125,364		122,058
Total	$	614,423	$	533,425

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, 2018 and December 31, 2017

			June 30, 2018					December 31, 2017
	Cost		Accumulated Amortization			Net Balance		Accumulated Amortization			Net Balance
Trademarks and tradenames	$	461,000	$	(136,731	)	$	324,269	$	(113,679	)	$	347,321
Developed technology		458,000		(194,034	)		263,966		(161,322	)		296,678
Customer relationships		1,094,000		(462,961	)		631,039		(384,817	)		709,183
	$	2,013,000	$	(793,726	)	$	1,219,274	$	(659,818	)	$	1,353,182

Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same amounts shown in the unaudited statements of cash flows:

	June 30, 2018		December 31, 2017		June 30, 2017		December 31, 2016
Cash and cash equivalents	$	7,428,993	$	1,847,171	$	211,683	$	4,117,324
Restricted cash		181,490		243,380		243,380		243,380
Total cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows	$	7,610,483	$	2,090,551	$	455,063	$	4,360,704