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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2012
INTANGIBLE ASSETS [Abstract] |
INTANGIBLE ASSETS | NOTE 5. - INTANGIBLE ASSETS Goodwill - The Company performs an annual fair value test of the recorded goodwill for its reporting units using a discounted cash flow and capitalization of earnings approach. As of December 31, 2012, the Company had goodwill of approximately $3,323,000 ($3,323,000 December 31, 2011) attributable to the Company's printing division ($631,000) , packaging division ($1,768,000), plastics division ($685,000) and digital division ($239,000). Other Intangible Assets - Other intangible assets are comprised of the following at December 31:
|  |  |  | 2012 |  |  | 2011 |
|  | Useful Life |  | Gross Carrying Amount |  |  | Accumulated Amortizaton |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortizaton |  |  | Net Carrying Amount |
Acquired intangibles |  | 5 -10 years |  | $ | 2,405,300 |  |  | $ | 1,243,865 |  |  | $ | 1,161,435 |  |  | $ | 2,405,300 |  |  | $ | 999,761 |  |  | $ | 1,405,539 |
Patent application costs |  | Varied (1) |  |  | 956,714 |  |  |  | 265,472 |  |  |  | 691,242 |  |  |  | 843,145 |  |  |  | 205,472 |  |  |  | 637,673 |
|  |  |  | $ | 3,362,014 |  |  | $ | 1,509,337 |  |  | $ | 1,852,677 |  |  | $ | 3,248,445 |  |  | $ | 1,205,233 |  |  | $ | 2,043,212 |
(1)- patent rights are amortized over their expected useful life which is generally the legal life of the patent. As of December 31, 2012 the weighted average remaining useful life of these assets in service was 10 years. Actual amortization expense for the years ended December 31, 2012 amounted to approximately $304,000 ($285,000 -2011). Expected amortization for each of the next five years is as follows:
| 2013 |  |  |  | 299,325 |
| 2014 |  |  |  | 299,325 |
| 2015 |  |  |  | 214,158 |
| 2016 |  |  |  | 179,625 |
| 2017 |  |  |  | 167,125 |
| Thereafter |  |  |  | 693,119 |
|  |  |  | $ | 1,852,677 |
Acquired Intangible Assets - Acquired intangibles are recorded by the Company in conjunction with business combinations. In May 2011, the Company acquired intangible assets associated with its acquisition of ExtraDev as described in Note 8. The Company valued these intangible assets at $408,000 which consist of a customer list, amortized over the expected life of 10 years, and a non-compete agreement, amortized over the expected life of 5 years. Patent Application Costs - On an ongoing basis, the Company submits formal and provisional patent applications with the United States, Canada and countries included in the Patent Cooperation Treaty (PCT). The Company capitalizes these costs and amortizes them over the patents' estimated useful life.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 + Details
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