Intangibles (Tables)

9 Months Ended

Sep. 30, 2017

Intangibles [Abstract]

Gross carrying amount and accumulated amortization of amortizable intangible assets

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

	Industrial Hardware Segment		Security Products Segment		Metal Products Segment		Total		Weighted-Average Amortization Period (Years)
2017 Gross Amount
Patents and developed technology	$	7,111,906	$	1,069,594	$	--	$	8,181,500		12.2
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	$	10,761,906	$	2,233,670	$	--	$	12,995,576		10.8
2017 Accumulated Amortization
Patents and developed technology	$	1,888,433	$	663,254	$	--	$	2,551,687
Customer relationships		182,500		247,338		--		429,838
Non-compete agreements		--		223,850		--		223,850
Intellectual property		--		169,054		--		169,054
Accumulated Amortization	$	2,070,933	$	1,303,496	$	--	$	3,374,429
Net September 30, 2017 per Balance Sheet	$	8,690,973	$	930,174	$	--	$	9,621,147

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 December 31, 2016 per Balance Sheet	$	629,385	$	1,135,064	$	--	$	1,764,449