Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets are comprised of the following:

			December 31, 2016						December 31, 2015
	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		1,721,357		275,943		1,997,300		1,635,257		362,043
Acquired intangibles-patents and patent rights	Varied	(1)		3,155,000		2,092,767		1,062,233		3,650,000		1,562,526		2,087,474
Patent application costs	Varied	(2)		1,136,465		578,623		557,842		1,062,958		494,931		568,027
			$	6,288,765	$	4,392,747	$	1,896,018	$	6,710,258	$	3,692,714	$	3,017,544

(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, 2016, the weighted average remaining useful life of these assets in service was approximately 2.4 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, 2016, the weighted average remaining useful life of these assets in service was approximately 8.6 years.

Schedule of Estimated Future Amortization of Intangible Assets

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

Year	Amount
2017	$	681,000
2018	$	537,000
2019	$	272,000
2020	$	182,000
2021	$	77,000

Schedule of Changes On Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 are as follows:

	Packaging		Plastics		Technolgy Management			Total
Balance as of January 1, 2015
Goodwill	$	1,768,400	$	684,949	$	12,831,774		$	15,285,123
Accumulated impairment losses		-		-		(3,238,926	)		(3,238,926	)
		1,768,400		684,949		9,592,848			12,046,197
Goodwill acquired during the year		-		-		-			-
Impairment losses		-		-		(9,592,848	)		(9,592,848	)
Balance as of December 31, 2015
Goodwill		1,768,400		684,949		12,831,774			15,285,123
Accumulated impairment losses		-		-		(12,831,774	)		(12,831,774	)
		1,768,400		684,949		-			2,453,349
Goodwill acquired during the year		-		-		-			-
Impairment losses		-		-		-			-
Balance as of December 31, 2016
Goodwill		1,768,400		684,949		12,831,774			15,285,123
Accumulated impairment losses		-		-		(12,831,774	)		(12,831,774	)
	$	1,768,400	$	684,949	$	-		$	2,453,349