INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2013

Intangible assets are comprised of the following:

		December 31, 2013						December 31, 2012
	Useful Life	Gross Carrying Amount		Accumulated Amortizaton		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortizaton		Net Carrying Amount

Acquired intangibles- customer lists and non-compete agreements	5 -10 years		1,997,300		1,343,819		653,481		2,405,300		1,243,865		1,161,435
Acquired intangibles-patents and patent rights	Varied (1)		30,356,164		2,042,083		28,314,081		-		-		-
Patent application costs	Varied (2)		965,523		330,494		635,029		956,714		265,472		691,242
		$	33,318,987	$	3,716,396	$	29,602,591	$	3,362,014	$	1,509,337	$	1,852,677

(1) acquired patents and patent rights are amortized over their expected useful life which is generally the remaining legal life of the patent. As of December 31, 2013, the weighted average remaining useful life of these assets in service was approximately 6.3 years.

(2) patent application costs are amortized over their expected useful life which is generally the remaining legal life of the patent. As of December 31, 2013, the weighted average remaining useful life of these assets in service was approximately 9.1 years.

Schedule of Estimated Future Amortization of Intangible Assets

Approximate expected amortization for each of the five succeeding fiscal years is as follows:

2014	$	4,585,000
2015	$	4,499,000
2016	$	4,297,000
2017	$	4,278,000
2018	$	4,134,000

Schedule of Goodwill

The changes in the carrying amount of goodwill for the year ended December 31, 2013, are as follows:

	Packaging Segment		Plastics Segment		Technology Segment			Total

Balance as of January 1, 2013
Goodwill		1,768,400		684,949		869,450		$	3,322,799
Accumulated impairment losses		-		-		-			-
		1,768,400		684,949		869,450			3,322,799

Goodwill acquired during the year		-		-		11,962,324			11,962,324
Impairment losses		-		-		(238,926	)		(238,926	)

Balance as of December 31, 2013
Goodwill		1,768,400		684,949		12,831,774			15,285,123
Accumulated impairment losses		-		-		(238,926	)		(238,926	)
		1,768,400		684,949		12,592,848		$	15,046,197