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ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 30, 2017
ACCOUNTING POLICIES [Abstract] |
Gross carrying amount and accumulated amortization of amortizable intangible assets | Trademarks are not amortized as their lives are deemed to be indefinite.
|  | Industrial Hardware Segment |  |  | Security Products Segment |  |  | Metal Products Segment |  |  | Total |  |  | Weighted-Average Amortization Period (Years) |
2017 Gross Amount |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents and developed technology |  | $ | 7,074,456 |  |  | $ | 1,021,918 |  |  | $ | — |  |  | $ | 8,096,374 |  |  |  | 12.3 |
Customer relationships |  |  | 3,650,000 |  |  |  | 449,706 |  |  |  | — |  |  |  | 4,099,706 |  |  |  | 9.5 |
Non-compete agreements |  |  | — |  |  |  | 407,000 |  |  |  | — |  |  |  | 407,000 |  |  |  | 5.0 |
Intellectual property |  |  | — |  |  |  | 307,370 |  |  |  | — |  |  |  | 307,370 |  |  |  | 5.0 |
Total Gross Intangibles |  | $ | 10,724,456 |  |  | $ | 2,185,994 |  |  | $ | — |  |  | $ | 12,910,450 |  |  |  | 10.8 |
2017 Accumulated Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents and developed technology |  | $ | 2,007,418 |  |  | $ | 630,784 |  |  | $ | — |  |  | $ | 2,638,202 |  |  |  |  |
Customer relationships |  |  | 298,645 |  |  |  | 269,823 |  |  |  | — |  |  |  | 568,468 |  |  |  |  |
Non-compete agreements |  |  | — |  |  |  | 244,200 |  |  |  | — |  |  |  | 244,200 |  |  |  |  |
Intellectual property |  |  | — |  |  |  | 184,422 |  |  |  | — |  |  |  | 184,422 |  |  |  |  |
Accumulated Amortization |  | $ | 2,306,063 |  |  | $ | 1,329,229 |  |  | $ | — |  |  | $ | 3,635,292 |  |  |  |  |
Net 2017 per Balance Sheet |  | $ | 8,418,393 |  |  | $ | 856,765 |  |  | $ | — |  |  | $ | 9,275,158 |  |  |  |  |
2016 Gross Amount |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents and developed technology |  | $ | 2,159,060 |  |  | $ | 1,035,374 |  |  | $ | — |  |  | $ | 3,194,434 |  |  |  | 15.6 |
Customer relationships |  |  | — |  |  |  | 449,706 |  |  |  | — |  |  |  | 449,706 |  |  |  | 5.0 |
Non-compete agreements |  |  | — |  |  |  | 407,000 |  |  |  | — |  |  |  | 407,000 |  |  |  | 5.0 |
Intellectual property |  |  | — |  |  |  | 307,370 |  |  |  | — |  |  |  | 307,370 |  |  |  | 5.0 |
Total Gross Intangibles |  | $ | 2,159,060 |  |  | $ | 2,199,450 |  |  | $ | — |  |  | $ | 4,358,510 |  |  |  | 12.3 |
|  | Industrial Hardware Segment |  |  | Security Products Segment |  |  | Metal Products Segment |  |  | Total |  |  | Weighted-Average Amortization Period (Years) |
2016 Accumulated Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents and developed technology |  | $ | 1,529,675 |  |  | $ | 598,756 |  |  | $ | — |  |  | $ | 2,128,431 |  |  |  |  |
Customer relationships |  |  | — |  |  |  | 179,882 |  |  |  | — |  |  |  | 179,882 |  |  |  |  |
Non-compete agreements |  |  | — |  |  |  | 162,800 |  |  |  | — |  |  |  | 162,800 |  |  |  |  |
Intellectual property |  |  | — |  |  |  | 122,948 |  |  |  | — |  |  |  | 122,948 |  |  |  |  |
Accumulated Amortization |  | $ | 1,529,675 |  |  | $ | 1,064,386 |  |  | $ | — |  |  | $ | 2,594,061 |  |  |  |  |
Net 2016 per Balance Sheet |  | $ | 629,385 |  |  | $ | 1,135,064 |  |  | $ | — |  |  | $ | 1,764,449 |  |  |  |  |
Roll-forward of goodwill | The following is a roll-forward of goodwill for 2017 and 2016:
|  | Industrial Hardware Segment |  |  | Security Products Segment |  |  | Metal Products Segment |  |  | Total |
2017 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,760,793 |  |  | $ | 13,059,042 |  |  | $ | — |  |  | $ | 14,819,835 |
Investment in Velvac |  |  | 17,340,946 |  |  |  | — |  |  |  | — |  |  |  | 17,340,946 |
Foreign exchange |  |  | 68,110 |  |  |  | — |  |  |  | — |  |  |  | 68,110 |
Ending balance |  | $ | 19,169,849 |  |  | $ | 13,059,042 |  |  | $ | — |  |  | $ | 32,228,891 |
|  | Industrial Hardware Segment |  |  | Security Products Segment |  |  | Metal Products Segment |  |  | Total |
2016 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,731,751 |  |  | $ | 13,059,042 |  |  | $ | — |  |  | $ | 14,790,793 |
Foreign exchange |  |  | 29,042 |  |  |  | — |  |  |  | — |  |  |  | 29,042 |
Ending balance |  | $ | 1,760,793 |  |  | $ | 13,059,042 |  |  | $ | — |  |  | $ | 14,819,835 |
Denominators used in the earnings per share computations | The denominators used in the earnings per share computations follow:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Basic: |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,259,139 |  |  |  | 6,251,535 |  |  |  | 6,245,057 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,259,139 |  |  |  | 6,251,535 |  |  |  | 6,245,057 |
Dilutive stock options |  |  | 35,634 |  |  |  | — |  |  |  | — |
Denominator for diluted earnings per share |  |  | 6,294,773 |  |  |  | 6,251,535 |  |  |  | 6,245,057 |

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