ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 02, 2016

ACCOUNTING POLICIES [Abstract]

Gross carrying amount and accumulated amortization of amortizable intangible assets

The gross carrying amount and accumulated amortization of amortizable intangible assets:

	Industrial Hardware Segment		Security Products Segment		Metal Products Segment		Total		Weighted-Average Amortization Period (Years)
2015 Gross Amount
Patents and developed technology	$	2,206,852	$	1,029,181	$	—	$	3,236,033	15.9
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	$	2,206,852	$	2,193,257	$	—	$	4,400,109	12.6
2015 Accumulated Amortization
Patents and developed technology	$	1,478,692	$	575,026	$	—	$	2,053,718
Customer relationships		—		89,941		—		89,941
Non-compete agreements		—		81,400		—		81,400
Intellectual property		—		61,474		—		61,474
Accumulated Amortization	$	1,478,692	$	807,841	$	—	$	2,286,533
Net 2015 per Balance Sheet	$	728,160	$	1,385,416	$	—	$	2,113,576
2014 Gross Amount
Patents and developed technology	$	2,494,261	$	1,025,303	$	—	$	3,519,564	15.7
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	$	2,494,261	$	2,189,379	$	—	$	4,683,640	12.7
2014 Accumulated Amortization
Patents and developed technology	$	1,649,655	$	535,415	$	—	$	2,185,070
Customer relationships		—		—		—		—
Non-compete agreements		—		—		—		—
Intellectual property		—		—		—		—
Accumulated amortization		1,649,655		535,415		—		2,185,070
Net 2014 per Balance Sheet	$	844,606	$	1,653,964	$	—	$	2,498,570

Roll-forward of goodwill

The following is a roll-forward of goodwill for 2015 and 2014:

	Industrial Hardware Segment			Security Products Segment		Metal Products Segment		Total
2015
Beginning balance	$	1,901,312		$	13,059,042	$	—	$	14,960,354
Foreign exchange		(169,561	)		—		—		(169,561)
Ending balance	$	1,731,751		$	13,059,042	$	—	$	14,790,793

	Industrial Hardware Segment			Security Products Segment		Metal Products Segment		Total
2014
Beginning balance	$	2,008,231		$	11,833,816	$	—	$	13,842,047
Acquisition of Argo Transdata		—			1,225,226		—		1,225,226
Foreign exchange		(106,919	)		—		—		(106,919	)
Ending balance	$	1,901,312		$	13,059,042	$	—	$	14,960,354

Denominators used in the earnings per share computations

The denominators used in the earnings per share computations follow:

	2015	2014	2013
Basic:
Weighted average shares outstanding	6,245,057	6,225,068	6,220,928
Diluted:
Weighted average shares outstanding	6,245,057	6,225,068	6,220,928
Dilutive stock options	—	12,846	16,830
Denominator for diluted earnings per share	6,245,057	6,237,914	6,237,758