Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets are comprised of the following:

		December 31, 2018						December 31, 2017
	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired intangibles - customer lists, licenses and non-compete agreements	5-10 years		1,284,065		823,884		460,181		1,997,300		1,810,750		186,550
Acquired intangibles - patents and patent rights			500,000		500,000		-		3,155,000		2,603,942		551,058
Patent application costs	Varied (1)		1,168,155		746,925		421,230		1,148,017		664,873		483,144
		$	2,952,220	$	2,070,809	$	881,411	$	6,300,317	$	5,079,565	$	1,220,752

⁽¹⁾ Patent application costs are amortized over their expected useful life which is generally the remaining legal life of the patent. As of December 31, 2018, the weighted average remaining useful life of these assets in service was approximately 6.9 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
2019	$	345,100
2020	$	209,800
2021	$	100,100
2022	$	101,500
2023	$	42,700

Schedule of Changes On Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 are as follows:

	Packaging		Plastics		Total
Balance as of January 1, 2017
Goodwill	$	1,768,648	$	684,949	$	2,453,597
Accumulated impairment losses		-		-		-
		1,768,648		684,949		2,453,597
Balance as of December 31, 2017
Goodwill		1,768,648		684,949		2,453,597
Accumulated impairment losses		-		-		-
		1,768,648		684,949		2,453,597
Balance as of December 31, 2018
Goodwill		1,768,648		684,949		2,453,597
Accumulated impairment losses		-		-		-
	$	1,768,648	$	684,949	$	2,453,597