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Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets are comprised of the following:

 

        December 31, 2017     December 31, 2016  
    Useful Life   Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount     Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
                                         
Acquired intangibles - customer lists and non-compete agreements   5-10 years     1,997,300       1,810,750       186,550       1,997,300       1,721,357       275,943  
Acquired intangibles - patents and patent rights   Varied (1)     3,155,000       2,603,942       551,058       3,155,000       2,092,767       1,062,233  
Patent application costs   Varied (2)     1,148,017       664,873       483,144       1,136,465       578,623       557,842  
        $ 6,300,317     $ 5,079,565     $ 1,220,752     $ 6,288,765     $ 4,392,747     $ 1,896,018  

 

 

  (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, 2017, the weighted average remaining useful life of these assets in service was approximately 1.7 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, 2017, the weighted average remaining useful life of these assets in service was approximately 6.3 years.
Schedule of Estimated Future Amortization of Intangible Assets

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

 

Year   Amount  
       
2018   $ 542,089  
2019   $ 277,570  
2020   $ 183,606  
2021   $ 81,731  
2022   $ 80,102  
Schedule of Changes On Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2017 and 2016 are as follows:

 

    Packaging     Plastics     Total  
                   
Balance as of January 1, 2016                        
Goodwill   $ 1,768,400     $ 684,949     $ 2,453,349  
Accumulated impairment losses     -       -       -  
      1,768,400       684,949       2,453,349  
                         
Balance as of December 31, 2016                        
Goodwill     1,768,400       684,949       2,453,349  
Accumulated impairment losses     -       -       -  
      1,768,400       684,949       2,453,349  
                         
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