ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 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)
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
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
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

Roll-forward of goodwill

The following is a roll-forward of goodwill for 2016 and 2015:

	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

	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

Denominators used in the earnings per share computations

The denominators used in the earnings per share computations follow:

	2016		2015		2014
Basic:
Weighted average shares outstanding		6,251,535		6,245,057		6,225,068
Diluted:
Weighted average shares outstanding		6,251,535		6,245,057		6,225,068
Dilutive stock options		—		—		12,846
Denominator for diluted earnings per share		6,251,535		6,245,057		6,237,914