Wilhelmina International (WHLM) 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	15-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Wilhelmina International, Inc.
Document Type	10-Q
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		5,856,565
Amendment Flag	FALSE
Entity Central Index Key	1013706
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$3,705	$5,869
Accounts receivable, net of allowance for doubtful accounts of $679	15,533	12,482
Deferred tax asset	1,955	1,986
Prepaid expenses and other current assets	186	252
Total current assets	21,379	20,589
Property and equipment, net of accumulated depreciation of $822 and $762, respectively	1,446	1,333
Trademarks and trade names with indefinite lives	8,467	8,467
Other intangibles with finite lives, net of accumulated amortization of $8,289 and $8,222, respectively	448	115
Goodwill	13,192	12,563
Other assets	167	136
Total assets	45,099	43,203
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and accrued liabilities	4,265	4,310
Due to models	11,219	10,011
Total current liabilities	15,484	14,321
Long term liabilities:
Contingent consideration to seller (Note 3)	171
Deferred income tax liability	2,536	2,332
Total long-term liabilities	2,707	2,332
Total liabilities	18,191	16,653
Shareholders’ equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized; none outstanding	0	0
Common stock, $0.01 par value, 12,500,000 shares authorized; 5,856,565 and 5,869,220 shares issued and outstanding at March 31, 2015 and December 31, 2014	65	65
Treasury stock, 615,473 and 602,818 shares, respectively, at cost	-1,715	-1,643
Additional paid-in capital	86,833	86,778
Accumulated deficit	-58,277	-58,650
Accumulated other comprehensive income	2
Total shareholders’ equity	26,908	26,550
Total liabilities and shareholders’ equity	$45,099	$43,203

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Accounts Receivable, allowance for doubtful accounts (in Dollars)	$679	$679
Property and equipment, accumulated depreciation (in Dollars)	822	762
Other intangibles with finite lives, accumulated amortization (in Dollars)	$8,289	$8,222
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value (in Dollars per share)	$0.01	$0.01
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	12,500,000	12,500,000
Common stock, shares issued	5,856,565	5,869,220
Common stock, shares outstanding	5,856,565	5,869,220
Treasury stock shares	615,473	602,818

Unaudited_Consolidated_Stateme

Unaudited Consolidated Statements of Operations and Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Revenues	$20,951	$18,136
License fees and other income	97	100
Total revenues	21,048	18,236
Model costs	14,902	12,757
Revenues net of model costs	6,146	5,479
Operating expenses:
Salaries and service costs	3,727	3,105
Office and general expenses	1,174	1,095
Amortization and depreciation	127	260
Corporate overhead	280	279
Total operating expenses	5,308	4,739
Operating income	838	740
Other income (expense):
Foreign exchange loss	-77
Loss from an unconsolidated affiliate	-24	-20
Interest income		2
Interest expense		-8
Total other expense	-101	-26
Income before provision for income taxes	737	714
Provision for income taxes:
Current	-206	-137
Deferred	-158	-245
	-364	-382
Net income	373	332
Other comprehensive income:
Foreign currency translation income	2
Total comprehensive income	$375	$332
Basic income per common share (in Dollars per share)	$0.06	$0.06
Diluted income per common share (in Dollars per share)	$0.06	$0.06
Weighted average common shares outstanding-basic (in Shares)	5,863	5,870
Weighted average common shares outstanding-diluted (in Shares)	5,959	5,917

Unaudited_Consolidated_Stateme1

Unaudited Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$373	$332
Adjustments to reconcile net income to net cash used in operating activities:
Amortization and depreciation	127	260
Share based payment expense	55	58
Deferred income taxes	158	245
Changes in operating assets and liabilities:
Accounts receivable	-2,696	-1,720
Prepaid expenses and other current assets	76	3
Other assets	-31
Due to models	697	-181
Accounts payable and accrued liabilities	-413	79
Net cash used in operating activities	-1,654	-924
Cash flows from investing activities:
Cash paid for business acquisition, net of cash acquired (Note 3)	-282
Purchase of property and equipment	-158	-47
Net cash used in investing activities	-440	-47
Cash flows from financing activities:
Repayment of Amegy line of credit		-800
Purchase of treasury stock	-72
Net cash used in financing activities	-72	-800
Foreign currency effect on cash flows	2
Net change in cash and cash equivalents:	-2,164	-1,771
Cash and cash equivalents, beginning of period	5,869	2,776
Cash and cash equivalents, end of period	3,705	1,005
Non-cash investing and financing activities:
Issuance of contingent consideration to seller	171
Supplemental disclosures of cash flow information:
Cash paid for interest		8
Cash paid for income taxes		$95

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Basis of Accounting [Text Block]	Note 1.  Basis of Presentation
	The interim consolidated financial statements included herein have been prepared by Wilhelmina International, Inc. (“Wilhelmina” or the “Company”) and subsidiaries without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).  Although certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to those rules and regulations, all adjustments considered necessary in order to make the consolidated financial statements not misleading have been included.  In the opinion of the Company’s management, the accompanying interim unaudited consolidated financial statements reflect all adjustments, of a normal recurring nature, that are necessary for a fair presentation of the Company’s consolidated financial position, results of operations and cash flows for such periods.  It is recommended that these interim unaudited consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as amended.  Results of operations for the interim periods are not necessarily indicative of results that may be expected for any other interim periods or the full fiscal year.

Note_2_Business_Activity

Note 2 - Business Activity	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Nature of Operations [Text Block]	Note 2.  Business Activity
	Overview
	The primary business of Wilhelmina is fashion model management, which is headquartered in New York City.  The Company’s predecessor was founded in 1967 by Wilhelmina Cooper, a renowned fashion model, and is one of the oldest, best known and largest fashion model management companies in the world.  Since its founding, Wilhelmina has grown to include operations located in Los Angeles and Miami, as well as a growing network of licensees comprising leading modeling agencies in various local markets across the U.S. as well as in Thailand, Dubai, Vancouver and Tokyo.  Wilhelmina provides traditional, full-service fashion model and talent management services, specializing in the representation and management of models, entertainers, artists, athletes and other talent to various customers and clients, including retailers, designers, advertising agencies and catalog companies.

Note_3_Business_Acquisition

Note 3 - Business Acquisition	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 3.  Business Acquisition
	In January 2015, the Company purchased 100% of the outstanding shares of Union Models Management Ltd. in London and renamed it Wilhelmina London Limited (“London”). The strategic acquisition of London establishes a footprint for the Company and the brand in Western Europe. It will also serve as a base of operations to service the Company’s European clients, and as a new talent development office for European models and artists.
	The purchase price includes the discounted value of contingent consideration assuming London achieves certain performance benchmarks during the post-closing period. These amounts are due to the former seller in the post-closing period subject to achieving these performance benchmarks.
	Under the purchase method of accounting, the purchase price has been allocated to the net tangible, intangible assets acquired and liabilities assumed, based on the preliminary fair value of the assets and liabilities of London in accordance with ASC 805.
	The intangible assets acquired include intangible assets with finite lives, such as customer relationships and talent relationships, and the remainder of any intangible assets not meeting the above criteria have been allocated to goodwill. The goodwill is non-amortizable.  Other assets such as customer relationships and talent relationships are being amortized on a straight line basis over their estimated useful lives which ranges from 2 to 8 years.  The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of completion of the London transaction:
	(in thousands)
	Fair value of operating assets acquired:
	Cash	$	868
	Accounts receivable		355
	Other current assets		10
	Equipment		15
	Total operating assets acquired		1,248
	Fair value of intangible assets acquired:
	Other intangible assets with finite lives		400
	Goodwill		629
	Total intangible assets acquired		1,029
	Total assets acquired		2,277
	Fair value of liabilities assumed:
	Accounts payable and accrued liabilities		360
	Due to models		511
	Indemnification seller basket		8
	Deferred income tax liability		77
	Total liabilities assumed		956
	Total net assets acquired	$	1,321
	The results of operations for London are included in the Company’s consolidated results from the effective date of the acquisition.

Note_4_Foreign_Currency_Transl

Note 4 - Foreign Currency Translation	3 Months Ended
	Mar. 31, 2015
Foreign Currency [Abstract]
Foreign Currency Disclosure [Text Block]	Note 4.  Foreign Currency Translation
	The functional currency of the wholly owned subsidiary London is the Great British Pound.  Its assets and liabilities are translated into U.S. dollars at the exchange rates in effect at each balance sheet date, revenues and expenses are translated at average monthly exchange rates and resulting translation gains or losses are accumulated in other comprehensive income as a separate component of shareholders’ equity.

Note_5_Line_of_Credit

Note 5 - Line of Credit	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 5.  Line of Credit
	On July 31, 2014, the Company executed and closed the third amendment (the “Third Credit Agreement Amendment”) to its revolving facility with Amegy Bank National Association (“Amegy”). The terms of the Third Credit Agreement Amendment are essentially the same as those set forth in the Second Credit Agreement Amendment with the exception of the ability to issue up to $300,000 of standby letters of credit. Outstanding letters of credit will reduce the Company’s availability under the facility.
	Under the terms of the Third Credit Agreement Amendment, (1) total availability under the revolving credit facility is $5,000,000 (2) the borrowing base is derived from 75% of eligible accounts receivable (as defined) and (3) the Company’s minimum net worth covenant is $22,000,000. In addition, the maturity date of the facility is October 15, 2015. The Company’s obligation to repay advances under the amended facility is evidenced by a second amended and restated promissory note.  Under the terms of the Third Amended and Restated Promissory Note, the interest rate on borrowings is prime rate plus 1%.
	As of May 15, 2015, the Company had no outstanding borrowings under the revolving credit facility.

Note_6_Commitments_and_Conting

Note 6 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 6.  Commitments and Contingencies
	On May 2, 2012, Sean Patterson, the former President of the Company’s subsidiary, Wilhelmina International, filed a lawsuit in the Supreme Court of the State of New York, County of New York, against the Company, Wilhelmina International and Mark Schwarz, the Company’s Chairman of the Board, asserting claims for alleged breach of Mr. Patterson’s expired employment agreement (the “Employment Agreement”) with Wilhelmina International, defamation, and declaratory relief with respect to the alleged invalidity and unenforceability of the Employment Agreement’s non-competition and non-solicitation provisions.  The Company and Wilhelmina International asserted counterclaims against Mr. Patterson for breach of the Employment Agreement, breach of fiduciary duty, and injunctive relief.  The parties continue to be engaged in discovery. The Company believes Mr. Patterson’s claims are without merit and intends to vigorously defend itself and pursue the counterclaims.  On May 23, 2014, the court granted the defendants’ motion to dismiss Mr. Patterson’s defamation claim, and granted Mr. Patterson’s cross-motion for leave to file an amended defamation claim.
	On October 10, 2012, an individual named Louisa Raske (“Raske”) commenced a purported class action lawsuit in New York State Supreme Court (New York County) against the Company's subsidiaries Wilhelmina International and Wilhelmina Models, Inc. (the “Wilhelmina Subsidiary Parties”), and others, as defendants (the “Raske Litigation”).  The Complaint asserted claims by Raske, individually, and on behalf of the purported class, for, among other things, breach of fiduciary duty, unjust enrichment, and conversion, arising out of the defendants’ allegedly unauthorized use of models’ images and the handling and reporting of funds received in connection therewith.   Other defendants in the Raske Litigation included other model management companies, advertising firms, and certain advertisers.  By Decision and Order dated September 6, 2013, amended September 12, 2013, the court granted the Wilhelmina Subsidiary Parties’ and the other defendants’ motions to dismiss the Complaint, and dismissed the Complaint, with prejudice, except as to the plaintiff’s claims for alleged unjust enrichment, which were dismissed without prejudice.
	On October 24, 2013, a second purported class action lawsuit naming the Wilhelmina Subsidiary Parties was initiated in New York State Supreme Court (New York County) by the same lead counsel who represented plaintiffs in the Raske Litigation (the “Shanklin Litigation”).  The claims in the Shanklin Litigation include breach of contract and unjust enrichment and are alleged to arise out of matters relating to those matters involved in the Raske Litigation, such as the handling and reporting of funds on behalf of models and the use of model images. Other parties named as defendants in the Shanklin Litigation include other model management companies, advertising firms and certain advertisers. The Company believes the new claims are without merit and intends to vigorously defend itself and its subsidiaries.  On January 6, 2014, the Wilhelmina Subsidiary Parties moved to dismiss the complaint in the Shanklin Litigation for failure to state a cause of action upon which relief can be granted and other grounds, and other defendants have also filed motions to dismiss.  By Decision and Order dated August 11, 2014, the court denied the Wilhelmina Subsidiary Parties’ motion to dismiss.  In its Decision and Order, the court limited pre-class certification discovery to information relating to usages of the named plaintiffs’ images agreed to by the defendant model management companies during the six-year period prior to the commencement of the lawsuit.  The parties were directed to engage in court-ordered mediation, but during that process, in October, 2014, plaintiffs’ principal attorney died.  New lead counsel (if any) for plaintiffs has not yet been identified.  On March 10, 2015, the court granted the motion by plaintiffs’ local New York counsel for leave to withdraw, gave the plaintiffs 90 days to find substitute counsel, and stayed the action in the interim.  The Company intends to vigorously defend the Shanklin Action on behalf of the Wilhelmina Subsidiary Parties in the event plaintiffs move forward with substitute counsel.
	In addition to the legal proceedings disclosed herein, the Company is also engaged in various legal proceedings that are routine in nature and incidental to its business.  None of these routine proceedings, either individually or in the aggregate, are believed, in the Company's opinion, to have a material adverse effect on its consolidated financial position or its results of operations.
	As of March 31, 2015, a number of the Company’s employees were covered by employment agreements that vary in length from one to three years.  As of March 31, 2015, total compensation payable under the remaining contractual term of these agreements was approximately $4,582,000.  In addition, the employment agreements contain non-compete provisions ranging from six months to one year following the term of the applicable agreement. Therefore, subject to certain exceptions, as of March 31, 2015, invoking the non-compete provisions would require the Company to compensate additional amounts to the covered employees during the non-compete period in the amount of approximately $4,585,000. During the three months ended March 31, 2015 and 2014, the Company paid no compensation cost in connection with certain non-compete and contractual arrangements of former employees, respectively.

Note_7_Share_Capital

Note 7 - Share Capital	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 7.  Share Capital
	The Company has a shareholder’s rights plan (the “Rights Plan”). The Rights Plan provides for a dividend distribution of one preferred share purchase right (a “Right”) for each outstanding share of the Company's Common Stock, $.01 par value (the "Common Stock").  The terms of the Rights and the Rights Plan are set forth in a Rights Agreement, dated as of July 10, 2006, as amended, by and between the Company and The Bank of New York Trust Company, N.A., now known as The Bank of New York Mellon Trust Company, N.A., as Rights Agent (the “Rights Agreement”).
	The Company’s Board of Directors adopted the Rights Plan to protect shareholder value by protecting the Company’s ability to realize the benefits of its net operating loss carryforwards (“NOLs”). In general terms, the Rights Plan imposes a significant penalty upon any person or group that acquires 5% or more of the outstanding Common Stock without the prior approval of the Company’s Board of Directors.  Shareholders that own 5% or more of the outstanding Common Stock as of the close of business on the Record Date (as defined in the Rights Agreement) may acquire up to an additional 1% of the outstanding Common Stock without penalty so long as they maintain their ownership above the 5% level (such increase subject to downward adjustment by the Company’s Board of Directors if it determines that such increase will endanger the availability of the Company’s NOLs).  In addition, the Company’s Board of Directors has exempted Newcastle Partners, L.P. (“Newcastle”), the Company’s largest shareholder, and may exempt any person or group that owns 5% or more if the Board of Directors determines that the person’s or group’s ownership will not endanger the availability of the Company’s NOLs.  A person or group that acquires a percentage of Common Stock in excess of the applicable threshold is called an “Acquiring Person”.  Any Rights held by an Acquiring Person are void and may not be exercised.  The Company’s Board of Directors authorized the issuance of one Right per each share of Common Stock outstanding on the Record Date.  If the Rights become exercisable, each Right would allow its holder to purchase from the Company one one-hundredth of a share of the Company’s Series A Junior Participating Preferred Stock, par value $0.01 (the “Preferred Stock”), for a purchase price of $10.00.  Each fractional share of Preferred Stock would give the shareholder approximately the same dividend, voting and liquidation rights as does one share of Common Stock.  Prior to exercise, however, a Right does not give its holder any dividend, voting or liquidation rights.
	One for Twenty Reverse Stock Split
	The Company's Board of Directors approved the implementation of the Reverse Stock Split and the applicable ratio of one-for-twenty on July 7, 2014. On July 11, 2014, the Company filed a certificate of amendment to the Company's restated certificate of incorporation (the “Certificate of Amendment”) which effected the Reverse Stock Split. The Company's stockholders previously approved the granting of authority to the Company’s Board of Directors to effect a reverse stock split at a ratio between one-for-ten and one-for-forty at the Company’s annual meeting of stockholders held on September 26, 2013.
	The Certificate of Amendment provided that, effective as of 5:00 pm (Eastern Time) on July 11, 2014, every twenty outstanding shares of Common Stock were combined automatically into one share of Common Stock. Fractional shares resulting from the Reverse Stock Split were cancelled and stockholders otherwise entitled to a fractional share received a cash payment in lieu of the fractional share based on the average of the last reported sales price of the Common Stock as quoted on the OTCBB for the five business days prior to the effectiveness of the Reverse Stock Split (which average price was $.30). The Certificate of Amendment also proportionally reduced the Company’s authorized shares of Common Stock from 250,000,000 shares to 12,500,000 shares. The rights and privileges of the holders of the Common Stock are unaffected by the Reverse Stock Split.
	Trading of the Common Stock on a split-adjusted basis began at the opening of trading on July 14, 2014. In September 2014, the Company began trading on the NASDAQ under the ticker symbol WHLM.

Note_8_Income_Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 8.  Income Taxes
	Generally, the Company’s combined effective tax rate is high relative to reported net income as a result of certain amounts of amortization expense and corporate overhead not being deductible or attributable to states in which it operates. Currently, the majority of taxes being paid by the Company are state taxes, not federal taxes. The Company operates in three states which have relatively high tax rates: California, New York and Florida. The Company’s combined (federal and state) effective tax rate would be even higher if it were not for federal net operating loss carryforwards available to offset current federal taxable income. As of December 31, 2014, the Company had federal income tax loss carryforwards of approximately $900,000, which begin expiring in 2019. A portion of the Company’s federal net operating loss carryforwards were utilized to offset federal taxable income generated during the three months ended March 31, 2015. Realization of the Company’s carryforwards is dependent on future taxable income. As defined in the Internal Revenue Code, ownership changes may limit the amount of net operating loss carryforwards that can be utilized annually to offset future taxable income.

Note_9_Treasury_Stock

Note 9 - Treasury Stock	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block Supplement [Abstract]
Treasury Stock [Text Block]	Note 9.  Treasury Stock
	During the year ended December 31, 2012, the Board of Directors authorized a stock repurchase program, whereby the Company could repurchase up to 500,000 shares of its outstanding Common Stock. During August 2013, the Board of Directors renewed and extended the Company’s share repurchase authority to enable it to repurchase up to an additional 500,000 shares of Common Stock.
	The shares may be repurchased from time-to-time in the open market or through privately negotiated transactions at prices the Company deems appropriate. The program does not obligate the Company to acquire any particular amount of Common Stock and the program may be modified or suspended at any time at the Company’s discretion.  The stock repurchase plan will be funded through the Company’s cash on hand and the Second Credit Agreement Amendment.
	In total, the Company has repurchased 615,473 shares of Common Stock at an average price of approximately $2.79 per share, for a total of approximately $1,715,000 under the foregoing stock repurchase program. During the three months ended March 31, 2015, 12,655 shares were repurchased at an average price of $5.65 per share.

Note_10_Related_Parties

Note 10 - Related Parties	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 10.  Related Parties
	As of March 31, 2015, Mark Schwarz, the Chairman, Chief Executive Officer and Portfolio Manager of Newcastle Capital Management, L.P. (“NCM”) held the Chairman of the Board and Executive Chairman positions with the Company.  NCM is the General Partner of Newcastle, which owns 2,430,726 shares of Common Stock. Clinton Coleman (Managing Director at NCM) and James Dvorak (Managing Director at NCM) also serve as directors of the Company.
	The Company’s corporate headquarters are located at 200 Crescent Court, Suite 1400, Dallas, Texas 75201, which are also the offices of NCM. The Company occupies a portion of NCM space on a month-to-month basis at $2,500 per month, pursuant to a services agreement entered into between the parties. Pursuant to the services agreement, the Company receives the use of NCM’s facilities and equipment and accounting, legal and administrative services from employees of NCM. The Company incurred expenses pursuant to the services agreement totaling approximately $7,500 for the quarters ended March 31, 2015 and 2014. The Company owed NCM $0 as of March 31, 2015 and 2014, under the services agreement.
	The Company has an agreement with an unconsolidated affiliate to provide management and administrative services, as well as sharing of space. Management fee and rental income from the unconsolidated affiliate amounted to approximately $27,500 for the quarters ended March 31, 2015 and 2014.

Note_3_Business_Acquisition_Ta

Note 3 - Business Acquisition (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in thousands)
	Fair value of operating assets acquired:
	Cash	$	868
	Accounts receivable		355
	Other current assets		10
	Equipment		15
	Total operating assets acquired		1,248
	Fair value of intangible assets acquired:
	Other intangible assets with finite lives		400
	Goodwill		629
	Total intangible assets acquired		1,029
	Total assets acquired		2,277
	Fair value of liabilities assumed:
	Accounts payable and accrued liabilities		360
	Due to models		511
	Indemnification seller basket		8
	Deferred income tax liability		77
	Total liabilities assumed		956
	Total net assets acquired	$	1,321

Note_3_Business_Acquisition_De

Note 3 - Business Acquisition (Details) (Union Model Management [Member])	3 Months Ended
	Mar. 31, 2015	Jan. 31, 2015
Note 3 - Business Acquisition (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Minimum [Member]
Note 3 - Business Acquisition (Details) [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years
Maximum [Member]
Note 3 - Business Acquisition (Details) [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years

Note_3_Business_Acquisition_De1

Note 3 - Business Acquisition (Details) - Estimated Fair Values of Assets Acquired and Liabilities Assumed (USD $)	Mar. 31, 2015	Dec. 31, 2014	Jan. 31, 2015
In Thousands, unless otherwise specified
Note 3 - Business Acquisition (Details) - Estimated Fair Values of Assets Acquired and Liabilities Assumed [Line Items]
Goodwill	$13,192	$12,563
Union Model Management [Member]
Note 3 - Business Acquisition (Details) - Estimated Fair Values of Assets Acquired and Liabilities Assumed [Line Items]
Cash			868
Accounts receivable			355
Other current assets			10
Equipment			15
Total operating assets acquired			1,248
Other intangible assets with finite lives			400
Goodwill			629
Total intangible assets acquired			1,029
Total assets acquired			2,277
Accounts payable and accrued liabilities			360
Due to models			511
Indemnification seller basket			8
Deferred income tax liability			77
Total liabilities assumed			956
Total net assets acquired			$1,321

Note_5_Line_of_Credit_Details

Note 5 - Line of Credit (Details) (Third Credit Agreement Amendment [Member], USD $)	1 Months Ended
	Jul. 31, 2014	15-May-15
Subsequent Event [Member] | Revolving Credit Facility [Member]
Note 5 - Line of Credit (Details) [Line Items]
Long-term Line of Credit		$0
Standby Letters of Credit [Member]
Note 5 - Line of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300,000
Revolving Credit Facility [Member] | Prime Rate [Member]
Note 5 - Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member]
Note 5 - Line of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	5,000,000
Line of Credit Facility, Borrowing Base Percentage Of Collateral Modified From	75.00%
Line of Credit Facility, Covenant Compliance Minimum Net Worth	22,000,000

Note_6_Commitments_and_Conting1

Note 6 - Commitments and Contingencies (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Note 6 - Commitments and Contingencies (Details) [Line Items]
Due to Employees	$4,582,000
Employment Agreement Non-Compete Term Minimum	6 months
Employment Agreement Non-Compete Term Maximum	1 year
Payment for Non-compete Agreements	0	0
Scenario, Invoking Non-Compete Provisions [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Due to Employees	$4,585,000
Minimum [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Employment Agreement Term	1 year
Maximum [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Employment Agreement Term	3 years

Note_7_Share_Capital_Details

Note 7 - Share Capital (Details) (USD $)	0 Months Ended	3 Months Ended
	Jul. 07, 2014	Mar. 31, 2015	Dec. 31, 2014	Jul. 11, 2014	Jul. 10, 2014
Note 7 - Share Capital (Details) [Line Items]
Common Stock, Par or Stated Value Per Share (in Dollars per share)		$0.01	$0.01
Preferred Stock, Par or Stated Value Per Share (in Dollars per share)		$0.01	$0.01
Common Stock, Shares Authorized (in Shares)		12,500,000	12,500,000	12,500,000	250,000,000
Series A Preferred Stock [Member] | Rights Plan [Member]
Note 7 - Share Capital (Details) [Line Items]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares)		1
Preferred Stock, Par or Stated Value Per Share (in Dollars per share)		$0.01
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$10
Reverse Stock Split [Member]
Note 7 - Share Capital (Details) [Line Items]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20
Share Price (in Dollars per share)					0.3
Rights Plan [Member]
Note 7 - Share Capital (Details) [Line Items]
Class of Warrant or Right, Dividend Distribution, Number of Rights for Each Share of Common Stock (in Shares)		1
Common Stock, Par or Stated Value Per Share (in Dollars per share)		$0.01
Common Stock Shareholder Ownership Level Percentage,Subject to Penalty		5.00%
Common Stock Owned by Shareholders Percentage		5.00%
Common Stock Additional Shares Percentage		1.00%
Common Stock Shareholder Ownership Level Percentage		5.00%
Common Stock Ownership Penalty Exemption Percentage		5.00%
Number of Rights Authorized (in Shares)		1

Note_8_Income_Taxes_Details

Note 8 - Income Taxes (Details) (USD $)	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards	$900,000

Note_9_Treasury_Stock_Details

Note 9 - Treasury Stock (Details) (USD $)	1 Months Ended	3 Months Ended	27 Months Ended
	Aug. 31, 2013	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2012
Disclosure Text Block Supplement [Abstract]
Stock Repurchase Program, Authorized Amount (in Dollars)				$500,000
Stock Repurchase Program, Additional Shares Authorized	500,000
Stock Repurchased During Period, Shares		12,655	615,473
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)		$5.65	$2.79
Stock Repurchased During Period, Value (in Dollars)			$1,715,000

Note_10_Related_Parties_Detail

Note 10 - Related Parties (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
NCM [Member]
Note 10 - Related Parties (Details) [Line Items]
Due to Related Parties, Current	$0	$0
NCM [Member]
Note 10 - Related Parties (Details) [Line Items]
Common Stock Shares Owned By Related Party (in Shares)	2,430,726
Rent [Member]
Note 10 - Related Parties (Details) [Line Items]
Related Party Transaction, Monthly Rent	2,500
Services Agreement [Member]
Note 10 - Related Parties (Details) [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	7,500	7,500
Management Fee and Rental Income [Member]
Note 10 - Related Parties (Details) [Line Items]
Revenue from Related Parties	$27,500	$27,500