Wilhelmina International (WHLM) 10-K 22 Mar 23 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 22, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0001013706
Entity Registrant Name	Wilhelmina International, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-36589
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2781950
Entity Address, Address Line One	5420 Lyndon B Johnson Freeway, Box #25
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	214
Local Phone Number	661-7488
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	WHLM
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 7,800,000
Entity Common Stock, Shares Outstanding		5,157,344
Auditor Firm ID	23
Auditor Name	Baker Tilly US, LLP
Auditor Location	New York, New York

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 11,998	$ 10,251
Accounts receivable, net of allowance for doubtful accounts of $1,664 and $1,580, respectively	9,467	8,858
Prepaid expenses and other current assets	181	91
Total current assets	21,646	19,200
Property and equipment, net of accumulated depreciation of $1,216 and $4,094, respectively	307	168
Right of use assets-operating	3,565	1,745
Right of use assets-finance	138	199
Trademarks and trade names with indefinite lives	8,467	8,467
Goodwill	7,547	7,547
Other assets	322	98
TOTAL ASSETS	41,992	37,424
Current liabilities:
Accounts payable and accrued liabilities	4,306	3,761
Due to models	8,378	8,090
Contract liabilities	270	481
Lease liabilities – operating, current	385	463
Lease liabilities – finance, current	62	64
Total current liabilities	13,401	12,859
Long term liabilities:
Deferred income tax, net	985	2,048
Lease liabilities – operating, non-current	3,310	1,361
Lease liabilities – finance, non-current	85	143
Total long-term liabilities	4,380	3,552
Total liabilities	17,781	16,411
Shareholders’ equity:
Common stock, $0.01 par value, 9,000,000 shares authorized; 6,472,038 shares issued at December 31, 2022 and December 31, 2021	65	65
Treasury stock, 1,314,694 shares at December 31, 2022 and December 31, 2021, at cost	(6,371)	(6,371)
Additional paid-in capital	88,770	88,580
Accumulated deficit	(57,709)	(61,238)
Accumulated other comprehensive loss	(544)	(23)
Total shareholders’ equity	24,211	21,013
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 41,992	$ 37,424

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 1,664	$ 1,580
Property and equipment, accumulated depreciation	$ 1,216	$ 4,094
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	9,000,000	9,000,000
Common stock, shares issued (in shares)	6,472,038	6,472,038
Treasury stock, shares (in shares)	1,314,694	1,314,694

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Revenues	$ 17,780	$ 16,102
Revenues	17,780	16,102
Operating expenses:
Salaries and service costs	10,907	8,644
Office and general expenses	3,168	2,973
Amortization and depreciation	193	855
Cybersecurity incident expenses	0	575
Corporate overhead	1,093	897
Total operating expenses	15,361	13,944
Operating income	2,419	2,158
Other (income) expense:
Foreign exchange (gain) loss	(164)	80
Gain on forgiveness of loan	0	(1,994)
Employee retention payroll tax credit	0	(1,320)
Interest expense	8	51
Total other income, net	(156)	(3,183)
Income before provision for income taxes	2,575	5,341
Benefit (provision) for income taxes:
Current	(109)	(224)
Deferred	1,063	(599)
Benefit (provision) for income taxes, net	954	(823)
Net income	3,529	4,518
Other comprehensive loss:
Foreign currency translation adjustment	(521)	(104)
Total comprehensive income	$ 3,008	$ 4,414
Basic net income per common share (in dollars per share)	$ 0.68	$ 0.88
Diluted net income per common share (in dollars per share)	$ 0.68	$ 0.88
Weighted average common shares outstanding-basic (in shares)	5,157	5,157
Weighted average common shares outstanding-diluted (in shares)	5,157	5,157
Service [Member]
Revenues:
Revenues	$ 17,750	$ 16,069
Revenues	17,750	16,069
License Fees [Member]
Revenues:
Revenues	30	33
Revenues	$ 30	$ 33

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2020	6,472	(1,315)
Balances at Dec. 31, 2020	$ 65	$ (6,371)	$ 88,487	$ (65,756)	$ 81	$ 16,506
Share-based payment expense	0	0	61	0	0	61
Net income (loss) to common shareholders	0	0	0	4,518	0	4,518
Short swing profit disgorgement	0	0	32	0	0	32
Foreign currency translation	$ 0	$ 0	0	0	(104)	(104)
Balances (in shares) at Dec. 31, 2021	6,472	(1,315)
Balances at Dec. 31, 2021	$ 65	$ (6,371)	88,580	(61,238)	(23)	21,013
Share-based payment expense	0	0	190	0	0	190
Net income (loss) to common shareholders	0	0	0	3,529	0	3,529
Foreign currency translation	$ 0	$ 0	0	0	(521)	(521)
Balances (in shares) at Dec. 31, 2022	6,472	(1,315)
Balances at Dec. 31, 2022	$ 65	$ (6,371)	$ 88,770	$ (57,709)	$ (544)	$ 24,211

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income:	$ 3,529	$ 4,518
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and depreciation	193	855
Share based payment expense	190	61
Gain on forgiveness of loan	0	(1,994)
(Gain) loss on foreign exchange rates	(164)	80
Deferred income taxes	(1,063)	599
Bad debt expense	174	168
Changes in operating assets and liabilities:
Accounts receivable	(747)	(1,961)
Prepaid expenses and other current assets	(98)	16
Right of use assets-operating	500	375
Other assets	(227)	(6)
Due to models	398	1,753
Lease liabilities-operating	(470)	(326)
Contract liabilities	(211)	481
Accounts payable and accrued liabilities	515	917
Net cash provided by operating activities	2,519	5,536
Cash flows from investing activities:
Purchases of property and equipment	(268)	(19)
Net cash used in investing activities	(268)	(19)
Cash flows from financing activities:
Shareholder short swing profit disgorgement	0	32
Payments on finance leases	(62)	(76)
Repayment of term loan	0	(743)
Net cash used in financing activities	(62)	(787)
Foreign currency effect on cash flows:	(442)	(35)
Net change in cash and cash equivalents:	1,747	4,695
Cash and cash equivalents, beginning of year	10,251	5,556
Cash and cash equivalents, end of year	11,998	10,251
Supplemental disclosures of cash flow information:
Cash paid for interest	0	23
Cash paid for income taxes	268	198
Noncash investing and financing activities
Gain on forgiveness of loan	$ 0	$ 1,994

Note 1 - Business Activity

Note 1 - Business Activity	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 1. Business Activity Overview The primary business of Wilhelmina International, Inc. and its subsidiaries (collectively, “Wilhelmina” or the “Company”) is fashion model management. These business operations are headquartered in New York City. The Company’s predecessor was founded in 1967 one

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2. Summary of Significant Accounting Policies The consolidated financial statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). The following is a summary of significant policies used in the preparation of the accompanying financial statements. Principles of Consolidation and Basis of Presentation The financial statements include the consolidated accounts of Wilhelmina and its wholly-owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. Certain prior period amounts on the Consolidated Balance Sheets and Consolidated Statement of Cash Flows have been reclassified to conform to the current period presentation. Revenue Recognition The Company has adopted the requirements of Accounting Standards Update (“ASU”) No. 2014 09, 606 606” 606 Under the revenue standard, the Company recognizes revenues when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. The Company recognizes revenues following the five No. 2014 09: Service Revenues Our service revenues are derived primarily from fashion model bookings and representation of social media influencers and actors for commercials, film, and television. Revenues from services are recognized net of amounts owed to model talent, including taxes required to be withheld and remitted directly to taxing authorities, commissions owed to other agencies, and related costs such as those paid for photography, when the customer obtains control of the Company’s product, which occurs at a point in time, typically when the talent has completed the contractual requirement. The Company expenses incremental costs of obtaining a contract as and when incurred because the expected amortization period of the asset that it would have recognized is one A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The performance obligations for most of the Company’s core modeling bookings are satisfied on the day of the event, and the “day rate” total fee is agreed in advance, when the customer books the model for a particular date. For contracts with multiple performance obligations (which are typically all satisfied within 1 3 Wilhelmina operates broadly as a modeling and talent agency. The models and talent represented by the Company have discretion in agreeing to the price for a photoshoot or other service and may Although service revenues are reported on a net basis, accounts receivable are recorded at the amount of gross amounts billed to customers, inclusive of model costs. As a result, both accounts receivable and amounts due to models appear large relative to total revenue. Service revenues from international sales accounted for 7.8% and 12.1% of the Company’s consolidated services revenues for the years ended December 31, 2022 2021, License Fees License fees, in connection with the licensing of the “Wilhelmina” name, are collected on a quarterly basis under the terms of Wilhelmina’s agreements with licensees. The Company recognizes revenue relating to license fees where payment is deemed to be probable, over the license period. Contract Assets Contract assets, which primarily relate to the Company’s right to consideration for work completed but not December 31, 2022 2021, Advances to Models Advances to models for the cost of initial portfolios and other out-of-pocket costs, which are reimbursable only from collections from the Company’s clients as a result of future work, are expensed to model costs as incurred net of such costs that are expected to be recouped. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates that affect the amounts reported in the consolidated financial statements and the accompanying notes. Accounting estimates and assumptions discussed herein are those that management considers to be the most critical to an understanding of the consolidated financial statements because they inherently involve significant judgments and uncertainties. Estimates are used for, but not may Cash and Cash Equivalents As of December 31, 2022, three no December 31, 2022 2021. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are accounted for at net realizable value, do not December 31, 2022, not Although service revenues are reported on a basis net of model costs, accounts receivable are recorded at the amount of gross amounts billed to customers inclusive of model costs. As a result, both accounts receivable and amounts due to models appear large relative to total revenue. Concentrations of Credit Risk The balance sheet items that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and accounts receivable. The Company maintains its cash balances in several different financial institutions in New York, Los Angeles, Miami, and London. Balances in accounts other than “noninterest-bearing transaction accounts” are insured up to Federal Deposit Insurance Corporation (“FDIC”) limits of $250 thousand per institution. At December 31, 2022, £75 December 31, 2022, Property and Equipment Property and equipment are stated at cost. Depreciation and amortization, based upon the shorter of the estimated useful lives (ranging from two seven The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not No December 31, 2022 2021. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price in a business combination over the fair value of the tangible and intangible assets acquired and the liabilities assumed. The Company’s intangible assets other than goodwill consist of trademarks and trade name. Goodwill and intangible assets with indefinite lives are not There were no 2021 2022. no 2021 2022. No 2021 2022. The process of estimating the fair value of goodwill is subjective and requires the Company to make estimates that may not not At least annually, the Company assesses whether the carrying value of its goodwill and intangible assets exceeds their fair value and, if necessary, records an impairment loss equal to any such excess. Declines in the Company’s stock price could result in future goodwill impairment charges. The Company sometimes utilizes an independent valuation specialist to assist with the determination of fair value. Each interim reporting period, the Company assesses whether events or circumstances have occurred which indicate that the carrying amount of an intangible asset exceeds its fair value. If the carrying amount of the intangible asset exceeds its fair value, an asset impairment charge will be recognized in an amount equal to that excess. No December 31, 2022. Due to Models Due to models represents the liability for amounts owed to talent for jobs that have taken place, but where the model or talent fee has not Although service revenues are reported on a basis net of model costs, accounts receivable are recorded at the amount of gross amounts billed to customers inclusive of model costs. As a result, both accounts receivable and amounts due to models appear large relative to total revenue. Contract Liabilities We record deferred revenue, which is a contract liability, when we have entered into a contract with a customer and cash payments are received prior to satisfaction of the related performance obligation. Advertising The Company expenses all advertising costs as incurred. Advertising expense, included in office and general expense in the consolidated statements of operations and comprehensive income, was $22 thousand and $11 thousand in the years ended December 31, 2022 2021, Income Taxes Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base and operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company continually assesses the need for a tax valuation allowance based on all available information. Accounting for uncertainty in income taxes recognized in an enterprise’s financial statements requires a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Also, consideration should be given to de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Tax positions are subject to change in the future, as a number of years may 2019 2021 December 31, 2022. Share-Based Compensation The Company utilizes share-based awards as a form of compensation for certain officers. The Company records compensation expense for all awards granted. The Company uses the Black-Scholes valuation model and straight-line amortization of compensation expense over the requisite service period for each separately vesting portion of the grants. Fair Value Measurements The Company has adopted the provisions of ASC 820, 820” 820 820 820 820 three • Level 1 • Level 2 1 not • Level 3 no 3 Recent Accounting Pronouncements In June 2016, 2016 13 Financial Instruments -Credit Losses (Topic 326 2016 13 2016 13 December 15, 2022, first 2023, not

Note 3 - Debt

Note 3 - Debt	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 3. Debt The Company previously had a credit agreement with Amegy Bank which provided a $3.0 million revolving line of credit, subject to a borrowing base derived from 80% of eligible accounts receivable (as defined) and the Company’s minimum net worth covenant. The revolving line of credit bore interest at prime plus 0.50% payable monthly. The revolving line of credit expired October 24, 2022. On July 16, 2018, July 12, 2019, August 1, 2018, December 12, 2018, August 31, 2021, December 31, 2022, On April 15, 2020, April 13, 2020 ( April 13, 2022 1.00% April 13, 2025. March 27, 2021, March 31, 2021. On April 18, 2020, April 17, 2020 ( April 17, 2022 1.00% April 17, 2025. April 3, 2021, June 30, 2021. six

Note 4 - Property and Equipment

Note 4 - Property and Equipment	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 4. Property and Equipment Property and equipment at December 31, 2022 2021 December 31, 2022 December 31, 2021 Furniture and fixtures $ 422 $ 392 Software and software development costs - 2,944 Computer and equipment 1,033 890 Leasehold improvements 68 36 Total 1,523 4,262 Less: Accumulated depreciation (1,216 ) (4,094 ) Property and equipment, net $ 307 $ 168 During 2022, 2021. December 31, 2022 2021, 2021.

Note 5 - Leases

Note 5 - Leases	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Lessee, Finance and Operating Leases [Text Block]	Note 5. Leases The Company is obligated under non-cancelable lease agreements for the rental of office space and various other lease agreements for the leasing of office equipment. These operating leases expire at various dates through 2030. During 2022, December 31, 2022, December 31, 2022, The following table presents additional information regarding the Company’s financing and operating leases for the years ended December 31, 2022 2021 Year ended December 31, 2022 Year ended December 31, 2021 Finance lease expense Amortization of ROU assets $ 64 $ 77 Interest on lease liabilities 8 9 Operating lease expense 608 629 Short term lease expense 353 279 Cash paid for amounts included in the measurement of lease liabilities for finance leases Financing cash flows 68 87 Cash paid for amounts included in the measurement of lease liabilities for operating leases Operating cash flows 523 580 ROU assets obtained in exchange for lease liabilities Finance leases - 58 Operating leases 2,341 1,749 As of December 31, 2022, Operating Finance 2023 $ 586 $ 68 2024 723 63 2025 801 13 2026 813 11 2027 478 - Thereafter 1,081 - Total 4,482 155 Less: Present value discount (767 ) (8 ) Lease liability $ 3,715 $ 147 The following table summarizes future minimum payments under the current lease agreements: Years Ending December 31 Amount (in thousands) 2023 $ 803 2024 818 2025 814 2026 825 2027 479 Thereafter 1,081 Total $ 4,820 Rent expense totaled approximately $1.0 million and $0.9 million for the years ended December 31, 2022 2021.

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 6. Commitments and Contingencies On October 24, 2013, January 6, 2014, August 11, 2014, March 3, 2014, “may Plaintiffs retained substitute counsel, who filed a Second and then Third Amended Complaint. Plaintiffs’ Third Amended Complaint asserts causes of action for alleged breaches of the plaintiffs' management contracts with the defendants, conversion, breach of the duty of good faith and fair dealing, and unjust enrichment. The Third Amended Complaint also alleges that the plaintiff models were at all relevant times employees, and not not not October 6, 2015, May 26, 2017. three five two May 24, 2018. August 16, 2017, On June 6, 2016, August 16, 2017. September 29, 2017, May 10, 2018. July 12, 2019, On May 1, 2019, July 12, 2019, By Order dated May 8, 2020 ( The Company believes the claims asserted in the Shanklin Litigation and Pressley Litigation are without merit and intends to continue to vigorously defend the actions. Nonetheless, an adverse outcome in either case is at least reasonably possible. However, the Company is presently unable to reasonably estimate the amount or range of possible loss in either case. Therefore, no December 31, 2022 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

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 7. Income Taxes The following table summarizes the income tax benefit (expense) for the years ended December 31, 2022 2021 2022 2021 Current: Federal $ (62 ) $ - State (47 ) (34 ) Foreign - (190 ) Current Total (109 ) (224 ) Deferred: Federal 1,057 (552 ) State 6 (47 ) Deferred Total 1,063 (599 ) Total $ 954 $ (823 ) The income tax benefit (expense) differs from the amount computed by applying the statutory federal and state income tax rates to the net income before income tax. The following table shows the reasons for these differences (in thousands): 2022 2021 Computed income tax expense at statutory rate $ (540 ) $ (1,122 ) Decrease (increase) in taxes resulting from: Permanent and other deductions, net (12 ) 419 Global intangible low-taxed income (80 ) (204 ) Foreign income taxes 196 156 State income taxes, net of federal benefit (104 ) (119 ) Deferred tax effects - 55 Valuation allowance 1,494 (8 ) Total income tax benefit (expense) $ 954 $ (823 ) Effective tax rate (34.9% ) 15.4 % The Company’s effective tax rate was -34.9% and 15.4% for the years ended December 31, 2022 2021. 2022 2021, 19 Generally, the Company’s combined effective tax rate is high relative to reported income before taxes as a result of valuation allowances on deferred tax assets, certain amortization expense, stock based compensation, and corporate overhead not not three 2021, not not not For the year ended December 31, 2021, third 2022, not three 2022, may As of December 31, 2022, no The following table shows the tax effect of significant temporary differences, which comprise the deferred tax asset and liability (in thousands): 2022 2021 Deferred tax asset: Net operating loss carryforward $ 63 $ 293 Foreign tax credits 474 495 Accrued expenses 573 552 Allowance for doubtful accounts 82 78 Lease liability 1,008 493 Share-based compensation 117 66 Other intangible assets 11 20 Less: Valuation allowance - (1,494 ) Total deferred income tax asset 2,328 503 Deferred tax liability: Property and equipment (77 ) (39 ) Right of use asset (971 ) (469 ) Intangible assets-brand name (1,183 ) (1,183 ) Goodwill (395 ) (340 ) Other intangible assets (687 ) (520 ) Total deferred income tax liability (3,313 ) (2,551 ) Deferred income tax, net $ (985 ) $ (2,048 ) Net deferred tax assets and liabilities are presented as noncurrent within the Company’s consolidated balance sheets. Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases and are stated at enacted tax rates expected to be in effect when the taxes are actually paid or recovered. The Company recognizes a valuation allowance for deferred tax assets when it is more likely than not not At December 31, 2021, December 31, 2022, 2023 2031. The Company does not December 31, 2022 December 31, 2021, twelve The U.S. Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017 2018, January 2018,

Note 8 - Treasury Stock

Note 8 - Treasury Stock	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Treasury Stock [Text Block]	Note 8. Treasury Stock During 2012, 2013, 2016, may may not may From 2012 December 31, 2022, December 31, 2022,

Note 9 - Related Parties

Note 9 - Related Parties	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9. Related Parties The Executive Chairman of the Company, Mark E. Schwarz, is also the chairman, chief executive officer and portfolio manager of Newcastle Capital Management, L.P. (“NCM”). NCM is the general partner of Newcastle Partners L.P. (“Newcastle”), which is the largest shareholder of the Company. The Company’s corporate headquarters are located at the offices of NCM. The Company utilizes NCM facilities on a month-to-month basis at $2.5 thousand per month, pursuant to a services agreement entered into between the parties. The Company incurred expenses pursuant to the services agreement totaling $30 thousand for each of the years ended December 31, 2022 2021. not December 31, 2022. In the second 2021, one 16 1934, 2021.

Note 10 - Stock Options and Sto

Note 10 - Stock Options and Stock Purchase Warrants	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 10. Stock Options and Stock Purchase Warrants During 2015, 2015 2015 one five not ten Under the 2015 2022. 2021. 2022 2021. The following table shows a summary of stock option transactions under the 2015 2022 2021: Number of Shares Weighted Average Exercise Price Outstanding, January 1, 2021 60,000 $ 6.93 Granted 120,000 5.43 Exercised - - Forfeited or expired - - Outstanding, December 31, 2021 180,000 $ 5.93 Granted - - Exercised - - Forfeited or expired - - Outstanding, December 31, 2022 180,000 $ 5.93 Weighted average remaining contractual life was 5.85 years at December 31, 2022 December 31, 2021. December 31, 2022 2021. December 31, 2022 2021. December 31, 2022 December 31, 2022. The Company estimates the fair value of each stock option granted on the date of grant using the Black-Scholes option pricing model. Expected volatilities are based on the historical volatility of Wilhelmina’s and similar companies’ common stock for a period equal to the expected term. The risk-free interest rates for periods within the contractual term of the options are based on rates for U.S. Treasury Notes with maturity dates corresponding to the options’ expected lives on the dates of grant. Expected term is determined based on the option term. The following table lists the inputs to the Black-Scholes model used for the fair value measurement of the stock options granted during 2021. No 2022. Year Ended Weighted average fair value at the measurement date ($) 3.1 Dividend yield (%) 0 Expected volatility of the share prices (%) 68.9 Risk-free interest rate (%) 1.3 Expected life of share options (years) 4.0 to 6.3 Weighted average share price ($) 5.4

Note 11 - Benefit Plans

Note 11 - Benefit Plans	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	Note 11. Benefit Plans The Company has established a 401 twenty-one 401 401 may may December 31, 2022 2021.

Note 12 - Cybersecurity Inciden

Note 12 - Cybersecurity Incident	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Cybersecurity Incident [Text Block]	Note 12. Cybersecurity Incident In November 2021, 2021 The Company is continuing to pursue the recovery of the remaining $0.6 million and is cooperating with U.S. federal law enforcement authorities who are actively pursuing an investigation. It is presently unclear whether or to what extent any additional amounts will be recovered. Any additional recoveries will be recognized as a gain on recovery in the period that the funds are received.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation and Basis of Presentation The financial statements include the consolidated accounts of Wilhelmina and its wholly-owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. Certain prior period amounts on the Consolidated Balance Sheets and Consolidated Statement of Cash Flows have been reclassified to conform to the current period presentation.
Revenue [Policy Text Block]	Revenue Recognition The Company has adopted the requirements of Accounting Standards Update (“ASU”) No. 2014 09, 606 606” 606 Under the revenue standard, the Company recognizes revenues when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. The Company recognizes revenues following the five No. 2014 09: Service Revenues Our service revenues are derived primarily from fashion model bookings and representation of social media influencers and actors for commercials, film, and television. Revenues from services are recognized net of amounts owed to model talent, including taxes required to be withheld and remitted directly to taxing authorities, commissions owed to other agencies, and related costs such as those paid for photography, when the customer obtains control of the Company’s product, which occurs at a point in time, typically when the talent has completed the contractual requirement. The Company expenses incremental costs of obtaining a contract as and when incurred because the expected amortization period of the asset that it would have recognized is one A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The performance obligations for most of the Company’s core modeling bookings are satisfied on the day of the event, and the “day rate” total fee is agreed in advance, when the customer books the model for a particular date. For contracts with multiple performance obligations (which are typically all satisfied within 1 3 Wilhelmina operates broadly as a modeling and talent agency. The models and talent represented by the Company have discretion in agreeing to the price for a photoshoot or other service and may Although service revenues are reported on a net basis, accounts receivable are recorded at the amount of gross amounts billed to customers, inclusive of model costs. As a result, both accounts receivable and amounts due to models appear large relative to total revenue. Service revenues from international sales accounted for 7.8% and 12.1% of the Company’s consolidated services revenues for the years ended December 31, 2022 2021, License Fees License fees, in connection with the licensing of the “Wilhelmina” name, are collected on a quarterly basis under the terms of Wilhelmina’s agreements with licensees. The Company recognizes revenue relating to license fees where payment is deemed to be probable, over the license period. Contract Assets Contract assets, which primarily relate to the Company’s right to consideration for work completed but not December 31, 2022 2021, Advances to Models Advances to models for the cost of initial portfolios and other out-of-pocket costs, which are reimbursable only from collections from the Company’s clients as a result of future work, are expensed to model costs as incurred net of such costs that are expected to be recouped.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates that affect the amounts reported in the consolidated financial statements and the accompanying notes. Accounting estimates and assumptions discussed herein are those that management considers to be the most critical to an understanding of the consolidated financial statements because they inherently involve significant judgments and uncertainties. Estimates are used for, but not may
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents As of December 31, 2022, three no December 31, 2022 2021.
Receivable [Policy Text Block]	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are accounted for at net realizable value, do not December 31, 2022, not Although service revenues are reported on a basis net of model costs, accounts receivable are recorded at the amount of gross amounts billed to customers inclusive of model costs. As a result, both accounts receivable and amounts due to models appear large relative to total revenue.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Credit Risk The balance sheet items that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and accounts receivable. The Company maintains its cash balances in several different financial institutions in New York, Los Angeles, Miami, and London. Balances in accounts other than “noninterest-bearing transaction accounts” are insured up to Federal Deposit Insurance Corporation (“FDIC”) limits of $250 thousand per institution. At December 31, 2022, £75 December 31, 2022,
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Depreciation and amortization, based upon the shorter of the estimated useful lives (ranging from two seven The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not No December 31, 2022 2021.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Intangible Assets Goodwill represents the excess of the purchase price in a business combination over the fair value of the tangible and intangible assets acquired and the liabilities assumed. The Company’s intangible assets other than goodwill consist of trademarks and trade name. Goodwill and intangible assets with indefinite lives are not There were no 2021 2022. no 2021 2022. No 2021 2022. The process of estimating the fair value of goodwill is subjective and requires the Company to make estimates that may not not At least annually, the Company assesses whether the carrying value of its goodwill and intangible assets exceeds their fair value and, if necessary, records an impairment loss equal to any such excess. Declines in the Company’s stock price could result in future goodwill impairment charges. The Company sometimes utilizes an independent valuation specialist to assist with the determination of fair value. Each interim reporting period, the Company assesses whether events or circumstances have occurred which indicate that the carrying amount of an intangible asset exceeds its fair value. If the carrying amount of the intangible asset exceeds its fair value, an asset impairment charge will be recognized in an amount equal to that excess. No December 31, 2022.
Due to Models [Policy Text Block]	Due to Models Due to models represents the liability for amounts owed to talent for jobs that have taken place, but where the model or talent fee has not Although service revenues are reported on a basis net of model costs, accounts receivable are recorded at the amount of gross amounts billed to customers inclusive of model costs. As a result, both accounts receivable and amounts due to models appear large relative to total revenue.
Revenue Recognition, Deferred Revenue [Policy Text Block]	Contract Liabilities We record deferred revenue, which is a contract liability, when we have entered into a contract with a customer and cash payments are received prior to satisfaction of the related performance obligation.
Advertising Cost [Policy Text Block]	Advertising The Company expenses all advertising costs as incurred. Advertising expense, included in office and general expense in the consolidated statements of operations and comprehensive income, was $22 thousand and $11 thousand in the years ended December 31, 2022 2021,
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base and operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company continually assesses the need for a tax valuation allowance based on all available information. Accounting for uncertainty in income taxes recognized in an enterprise’s financial statements requires a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Also, consideration should be given to de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Tax positions are subject to change in the future, as a number of years may 2019 2021 December 31, 2022.
Share-Based Payment Arrangement [Policy Text Block]	Share-Based Compensation The Company utilizes share-based awards as a form of compensation for certain officers. The Company records compensation expense for all awards granted. The Company uses the Black-Scholes valuation model and straight-line amortization of compensation expense over the requisite service period for each separately vesting portion of the grants.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company has adopted the provisions of ASC 820, 820” 820 820 820 820 three • Level 1 • Level 2 1 not • Level 3 no 3
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, 2016 13 Financial Instruments -Credit Losses (Topic 326 2016 13 2016 13 December 15, 2022, first 2023, not

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2022 December 31, 2021 Furniture and fixtures $ 422 $ 392 Software and software development costs - 2,944 Computer and equipment 1,033 890 Leasehold improvements 68 36 Total 1,523 4,262 Less: Accumulated depreciation (1,216 ) (4,094 ) Property and equipment, net $ 307 $ 168

Note 5 - Leases (Tables)

Note 5 - Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Lease, Cost [Table Text Block]	Year ended December 31, 2022 Year ended December 31, 2021 Finance lease expense Amortization of ROU assets $ 64 $ 77 Interest on lease liabilities 8 9 Operating lease expense 608 629 Short term lease expense 353 279 Cash paid for amounts included in the measurement of lease liabilities for finance leases Financing cash flows 68 87 Cash paid for amounts included in the measurement of lease liabilities for operating leases Operating cash flows 523 580 ROU assets obtained in exchange for lease liabilities Finance leases - 58 Operating leases 2,341 1,749
Lessee, Finance and Operating Lease, Liability, Maturity [Table Text Block]	Operating Finance 2023 $ 586 $ 68 2024 723 63 2025 801 13 2026 813 11 2027 478 - Thereafter 1,081 - Total 4,482 155 Less: Present value discount (767 ) (8 ) Lease liability $ 3,715 $ 147
Schedule of Future Minimum Rental Payments for Leases Liabilities [Table Text Block]	Years Ending December 31 Amount (in thousands) 2023 $ 803 2024 818 2025 814 2026 825 2027 479 Thereafter 1,081 Total $ 4,820

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2022 2021 Current: Federal $ (62 ) $ - State (47 ) (34 ) Foreign - (190 ) Current Total (109 ) (224 ) Deferred: Federal 1,057 (552 ) State 6 (47 ) Deferred Total 1,063 (599 ) Total $ 954 $ (823 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2022 2021 Computed income tax expense at statutory rate $ (540 ) $ (1,122 ) Decrease (increase) in taxes resulting from: Permanent and other deductions, net (12 ) 419 Global intangible low-taxed income (80 ) (204 ) Foreign income taxes 196 156 State income taxes, net of federal benefit (104 ) (119 ) Deferred tax effects - 55 Valuation allowance 1,494 (8 ) Total income tax benefit (expense) $ 954 $ (823 ) Effective tax rate (34.9% ) 15.4 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2022 2021 Deferred tax asset: Net operating loss carryforward $ 63 $ 293 Foreign tax credits 474 495 Accrued expenses 573 552 Allowance for doubtful accounts 82 78 Lease liability 1,008 493 Share-based compensation 117 66 Other intangible assets 11 20 Less: Valuation allowance - (1,494 ) Total deferred income tax asset 2,328 503 Deferred tax liability: Property and equipment (77 ) (39 ) Right of use asset (971 ) (469 ) Intangible assets-brand name (1,183 ) (1,183 ) Goodwill (395 ) (340 ) Other intangible assets (687 ) (520 ) Total deferred income tax liability (3,313 ) (2,551 ) Deferred income tax, net $ (985 ) $ (2,048 )

Note 10 - Stock Options and S_2

Note 10 - Stock Options and Stock Purchase Warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Outstanding, January 1, 2021 60,000 $ 6.93 Granted 120,000 5.43 Exercised - - Forfeited or expired - - Outstanding, December 31, 2021 180,000 $ 5.93 Granted - - Exercised - - Forfeited or expired - - Outstanding, December 31, 2022 180,000 $ 5.93
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended Weighted average fair value at the measurement date ($) 3.1 Dividend yield (%) 0 Expected volatility of the share prices (%) 68.9 Risk-free interest rate (%) 1.3 Expected life of share options (years) 4.0 to 6.3 Weighted average share price ($) 5.4

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) £ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 GBP (£)
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total	$ 1,900	$ 800
Cash and Cash Equivalents, at Carrying Value, Total	11,998	10,251
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease), Total	1,700
Accounts Receivable, Credit Loss Expense (Reversal)	174	168
Cash, FDIC Insured Amount	250
Cash, Uninsured Amount	7,100
Cash, FSCS Insured Amount	100		£ 75
Cash, Uninsured Amount, FSCS	3,700
Goodwill, Ending Balance	7,547	7,547
Indefinite-Lived Trade Names	8,467	8,467
Advertising Expense	$ 22	$ 11
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	2 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Service [Member] | Non-US [Member]
Concentration Risk, Percentage	7.80%	12.10%

Note 3 - Debt (Details Textual)

Note 3 - Debt (Details Textual) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

120 Months Ended

Aug. 31, 2021

Apr. 03, 2021

Mar. 27, 2021

Apr. 18, 2020

Apr. 15, 2020

Dec. 12, 2018

Aug. 01, 2018

Oct. 24, 2016

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2021

Jul. 16, 2018

Treasury Stock, Shares, Acquired (in shares)

50,000

100,000

0

1,314,694

Gain (Loss) on Extinguishment of Debt, Total

$ 0

$ 1,994

Proceeds from Parent Paycheck Protection Program Under CARES Act

$ 128

Wilhelmina International LTD [Member]

Proceeds from Sub Paycheck Protection Program Under CARES Act

$ 1,800

Paycheck Protection Program CARES Act [Member]

Gain (Loss) from Interest Forgiven

$ 1

$ 17

Gain (Loss) on Extinguishment of Debt, Total

$ 100

$ 1,900

Amegy [Member] | Credit Agreement After Fifth Amendment [Member] | Term Loan [Member]

Debt Agreement, Maximum Borrowing Capacity

$ 3,000

Amegy [Member] | Credit Agreement After Fifth Amendment [Member] | Revolving Credit Facility [Member]

Debt Agreement, Borrowing Base Percentage of Collateral Modified From

80%

Amegy [Member] | Credit Agreement After Fifth Amendment [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]

Debt Instrument, Basis Spread on Variable Rate

0.50%

Amegy [Member] | Tenth Amendment to Credit Agreement [Member] | Term Loan [Member]

Debt Agreement, Maximum Borrowing Capacity

$ 1,000

Proceeds from Issuance of Long-term Debt, Total

$ 300

$ 700

Repayments of Debt

$ 600

Long-term Debt, Total

$ 0

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment, Disposals	$ 3	$ 2.1
Depreciation, Total	$ 0.1	$ 0.8

Note 4 - Property and Equipme_4

Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property and euqipment, gross	$ 1,523	$ 4,262
Less: Accumulated depreciation	(1,216)	(4,094)
Property and equipment, net	307	168
Furniture and Fixtures [Member]
Property and euqipment, gross	422	392
Software and Software Development Costs [Member]
Property and euqipment, gross	0	2,944
Computer Equipment [Member]
Property and euqipment, gross	1,033	890
Leasehold Improvements [Member]
Property and euqipment, gross	$ 68	$ 36

Note 5 - Leases (Details Textua

Note 5 - Leases (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finance Lease, Principal Payments	$ 62	$ 76
Operating Lease, Weighted Average Remaining Lease Term (Year)	6 years 1 month 6 days
Finance Lease, Weighted Average Remaining Lease Term (Year)	2 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	5.60%
Finance Lease, Weighted Average Discount Rate, Percent	4.80%
Operating Lease, Expense	$ 1,000	$ 900

Note 5 - Leases - Additional In

Note 5 - Leases - Additional Information Regarding Financing and Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Amortization of ROU assets, finance lease	$ 64	$ 77
Interest on lease liabilities, finance lease	8	9
Operating lease expense	608	629
Short term lease expense	353	279
Financing cash flows	68	87
Operating cash flows	523	580
Finance leases	0	58
Operating leases	$ 2,341	$ 1,749

Note 5 - Leases - Future Maturi

Note 5 - Leases - Future Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023, operating	$ 586
2023, finance	68
2024, operating	723
2024, finance	63
2025, operating	801
2025, finance	13
2026, operating	813
2026, finance	11
2027, operating	478
2027, finance	0
Thereafter, operating	1,081
Thereafter, finance	0
Total, operating	4,482
Total, finance	155
Less: Present value discount, operating	(767)
Less: Present value discount, finance	(8)
Lease liability, operating	3,715
Lease liability, finance	$ 147

Note 5 - Leases - Future Minimu

Note 5 - Leases - Future Minimum Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 803
2024	818
2025	814
2026	825
2027	479
Thereafter	1,081
Total	$ 4,820

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Percent, Total	(34.90%)	15.40%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ (1,494)	$ 8
Deferred Tax Assets, Valuation Allowance	0	1,494
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	1,500
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21%	35%
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	0	1,100
Foreign Tax Authority [Member]
Tax Credit Carryforward, Amount	$ 500
Paycheck Protection Program CARES Act [Member]
Debt Instrument, Decrease, Forgiveness		$ 2,000

Note 7 - Income Taxes - Income

Note 7 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Federal	$ (62)	$ 0
State	(47)	(34)
Foreign	0	(190)
Current Total	(109)	(224)
Federal	1,057	(552)
State	6	(47)
Deferred Total	1,063	(599)
Total	$ 954	$ (823)

Note 7 - Income Taxes - Effecti

Note 7 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Computed income tax expense at statutory rate	$ (540)	$ (1,122)
Permanent and other deductions, net	(12)	419
Global intangible low-taxed income	(80)	(204)
Foreign income taxes	196	156
State income taxes, net of federal benefit	(104)	(119)
Deferred tax effects	0	55
Valuation allowance	1,494	(8)
Benefit (provision) for income taxes, net	$ 954	$ (823)
Effective tax rate	(34.90%)	15.40%

Note 7 - Income Taxes - Summary

Note 7 - Income Taxes - Summary of Deferred Tax Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Net operating loss carryforward	$ 63	$ 293
Foreign tax credits	474	495
Accrued expenses	573	552
Allowance for doubtful accounts	82	78
Lease liability	1,008	493
Share-based compensation	117	66
Other intangible assets	11	20
Less: Valuation allowance	0	(1,494)
Total deferred income tax asset	2,328	503
Property and equipment	(77)	(39)
Right of use asset	(971)	(469)
Intangible assets-brand name	(1,183)	(1,183)
Goodwill	(395)	(340)
Other intangible assets	(687)	(520)
Total deferred income tax liability	(3,313)	(2,551)
Deferred income tax, net	$ (985)	$ (2,048)

Note 8 - Treasury Stock (Detail

Note 8 - Treasury Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended		120 Months Ended
	Dec. 12, 2018	Aug. 01, 2018	Dec. 31, 2022	Dec. 31, 2016	Dec. 31, 2021	Dec. 31, 2013	Dec. 31, 2012
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)				1,500,000		1,000,000	500,000
Stock Repurchase Program, Additional Shares Authorized (in shares)				500,000
Treasury Stock, Shares, Acquired (in shares)	50,000	100,000	0		1,314,694
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)					$ 4.85
Treasury Stock, Value, Acquired, Cost Method					$ 6.4
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)			185,306

Note 9 - Related Parties (Detai

Note 9 - Related Parties (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Adjustments to Additional Paid in Capital, Short Swing Profit Disgorgement	$ 32,000		$ 32,000
Services Agreements [Member]
Related Party Transaction, Monthly Rent		$ 2,500
Related Party Transaction, Expenses from Transactions with Related Party		30,000	$ 30,000
Due to Related Parties, Current, Total		$ 0

Note 10 - Stock Options and S_3

Note 10 - Stock Options and Stock Purchase Warrants (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2015
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0	120,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	0	0
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 0.1
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares)	98,500
Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)			500,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0	120,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	0	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	5 years 10 months 6 days	6 years 10 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0	$ 0

Note 10 - Stock Options and S_4

Note 10 - Stock Options and Stock Purchase Warrants - Summary of Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Outstanding (in shares)	180,000	60,000
Outstanding (in dollars per share)	$ 5.93	$ 6.93
Granted (in shares)	0	120,000
Granted (in dollars per share)	$ 0	$ 5.43
Exercised (in shares)	0	0
Exercised (in dollars per share)	$ 0	$ 0
Forfeited or expired (in shares)	0	0
Forfeited or expired (in dollars per share)	$ 0	$ 0
Outstanding (in shares)	180,000	180,000
Outstanding (in dollars per share)	$ 5.93	$ 5.93

Note 10 - Stock Options and S_5

Note 10 - Stock Options and Stock Purchase Warrants - Fair Value Assumption Measurement of the Stock Options (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares
Weighted average fair value at the measurement date ($) (in dollars per share)	$ 3.1
Dividend yield (%)	0%
Expected volatility of the share prices (%)	68.90%
Risk-free interest rate (%)	1.30%
Weighted average share price ($) (in dollars per share)	$ 5.4
Minimum [Member]
Expected life of share options (years) (Year)	4 years
Maximum [Member]
Expected life of share options (years) (Year)	6 years 3 months 18 days

Note 11 - Benefit Plans (Detail

Note 11 - Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0	$ 0
Minimum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	1%
Maximum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	100%

Note 12 - Cybersecurity Incid_2

Note 12 - Cybersecurity Incident (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2021	Dec. 31, 2021	Feb. 28, 2022
Unauthorized Transfers of Funds	$ 700
Professional Fees	$ 10
Recoverable from Unauthorized Transfers of Funds, Amount		$ 600
Operating Expense [Member]
Charges from Unauthorized Transfers of Funds, Amount		$ 600
Accounts Receivable [Member]
Recovered from Unauthorized Transfers of Funds, Amount Receivable			$ 200