Wilhelmina International (WHLM) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-36589
Entity Registrant Name	WILHELMINA INTERNATIONAL, INC.
Entity Central Index Key	0001013706
Entity Tax Identification Number	74-2781950
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	5420 LBJ Freeway
Entity Address, Address Line Two	Lockbox #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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,157,344

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,712	$ 6,117
Short term investments	6,277	6,596
Accounts receivable, net of allowance for doubtful accounts of $1,829 and $1,901, respectively	9,210	8,505
Prepaid expenses and other current assets	105	203
Total current assets	21,304	21,421
Property and equipment, net of accumulated depreciation of $603 and $534, respectively	268	320
Right of use assets-operating	3,110	3,457
Right of use assets-finance	134	152
Trademarks and trade names with indefinite lives	8,467	8,467
Goodwill	7,547	7,547
Other assets	299	301
TOTAL ASSETS	41,129	41,665
Current liabilities:
Accounts payable and accrued liabilities	4,045	3,941
Due to models	6,810	7,645
Lease liabilities – operating, current	741	712
Lease liabilities – finance, current	33	32
Total current liabilities	11,629	12,330
Long term liabilities:
Deferred income tax, net	1,484	1,215
Lease liabilities – operating, non-current	2,692	3,102
Lease liabilities – finance, non-current	105	122
Total long term liabilities	4,281	4,439
Total liabilities	15,910	16,769
Shareholders’ equity:
Common stock, $0.01 par value, 9,000,000 shares authorized; 6,472,038 shares issued at June 30, 2024 and December 31, 2023	65	65
Treasury stock, 1,314,694 shares at June 30, 2024 and December 31, 2023, at cost	(6,371)	(6,371)
Additional paid-in capital	88,865	88,854
Accumulated deficit	(56,938)	(57,276)
Accumulated other comprehensive loss	(402)	(376)
Total shareholders’ equity	25,219	24,896
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 41,129	$ 41,665

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,829	$ 1,901
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 603	$ 534
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	9,000,000	9,000,000
Common Stock, Shares, Issued	6,472,038	6,472,038
Common Stock, Shares, Outstanding	6,472,038	6,472,038
Treasury Stock, Common, Shares	1,314,694	1,314,694

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATION AND COMPRENENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 4,591	$ 4,493	$ 8,762	$ 8,977
Operating expenses:
Salaries and service costs	3,047	2,979	6,013	5,859
Office and general expenses	870	1,063	1,705	2,143
Amortization and depreciation	44	56	88	107
Corporate overhead	233	246	486	490
Total operating expenses	4,194	4,344	8,292	8,599
Operating income	397	149	470	378
Other (income) expense:
Foreign exchange loss	7	61	14	79
Interest income	(87)	(1)	(173)	(2)
Interest expense	3	1	6	3
Total other (income) expense	(77)	61	(153)	80
Income before provision for income taxes	474	88	623	298
Provision for income taxes:
Current	(4)	56	(16)	0
Deferred	(223)	(158)	(269)	(153)
Provision for income taxes, net	(227)	(102)	(285)	(153)
Net income (loss)	247	(14)	338	145
Other comprehensive income (loss):
Foreign currency translation adjustment	4	112	(26)	198
Total comprehensive income	$ 251	$ 98	$ 312	$ 343
Basic net income per common share	$ 0.05	$ 0	$ 0.07	$ 0.03
Diluted net income per common share	$ 0.05	$ 0	$ 0.07	$ 0.03
Weighted average common shares outstanding-basic	5,157	5,157	5,157	5,157
Weighted average common shares outstanding-diluted	5,157	5,157	5,157	5,157
Service [Member]
Revenues:
Service revenues	$ 4,584	$ 4,486	$ 8,747	$ 8,962
License [Member]
Revenues:
License fees	$ 7	$ 7	$ 15	$ 15

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Comprehensive Income [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 65	$ (6,371)	$ 88,770	$ (57,709)	$ (544)	$ 24,211
Beginning balance, shares at Dec. 31, 2022	6,472	1,315
Beginning balance, shares at Dec. 31, 2022	(6,472)	(1,315)
Share based payment expense			24			24
Net income to common shareholders				159		159
Foreign currency translation					86	86
Ending balance, value at Mar. 31, 2023	$ 65	$ (6,371)	88,794	(57,550)	(458)	24,480
Beginning balance, shares at Mar. 31, 2023	6,472	1,315
Beginning balance, shares at Mar. 31, 2023	(6,472)	(1,315)
Beginning balance, value at Dec. 31, 2022	$ 65	$ (6,371)	88,770	(57,709)	(544)	24,211
Beginning balance, shares at Dec. 31, 2022	6,472	1,315
Beginning balance, shares at Dec. 31, 2022	(6,472)	(1,315)
Net income to common shareholders						145
Foreign currency translation						198
Ending balance, value at Jun. 30, 2023	$ 65	$ (6,371)	88,819	(57,564)	(346)	24,603
Beginning balance, shares at Jun. 30, 2023	6,472	1,315
Beginning balance, shares at Jun. 30, 2023	(6,472)	(1,315)
Beginning balance, value at Mar. 31, 2023	$ 65	$ (6,371)	88,794	(57,550)	(458)	24,480
Beginning balance, shares at Mar. 31, 2023	6,472	1,315
Beginning balance, shares at Mar. 31, 2023	(6,472)	(1,315)
Share based payment expense			25			25
Net income to common shareholders				(14)		(14)
Foreign currency translation					112	112
Ending balance, value at Jun. 30, 2023	$ 65	$ (6,371)	88,819	(57,564)	(346)	24,603
Beginning balance, shares at Jun. 30, 2023	6,472	1,315
Beginning balance, shares at Jun. 30, 2023	(6,472)	(1,315)
Beginning balance, value at Dec. 31, 2023	$ 65	$ (6,371)	88,854	(57,276)	(376)	24,896
Beginning balance, shares at Dec. 31, 2023	6,472	1,315
Beginning balance, shares at Dec. 31, 2023	(6,472)	(1,315)
Share based payment expense			11			11
Net income to common shareholders				91		91
Foreign currency translation					(30)	(30)
Ending balance, value at Mar. 31, 2024	$ 65	$ (6,371)	88,865	(57,185)	(406)	24,968
Beginning balance, shares at Mar. 31, 2024	6,472	1,315
Beginning balance, shares at Mar. 31, 2024	(6,472)	(1,315)
Beginning balance, value at Dec. 31, 2023	$ 65	$ (6,371)	88,854	(57,276)	(376)	24,896
Beginning balance, shares at Dec. 31, 2023	6,472	1,315
Beginning balance, shares at Dec. 31, 2023	(6,472)	(1,315)
Net income to common shareholders						338
Foreign currency translation						(26)
Ending balance, value at Jun. 30, 2024	$ 65	$ (6,371)	88,865	(56,938)	(402)	25,219
Beginning balance, shares at Jun. 30, 2024	6,472	1,315
Beginning balance, shares at Jun. 30, 2024	(6,472)	(1,315)
Beginning balance, value at Mar. 31, 2024	$ 65	$ (6,371)	88,865	(57,185)	(406)	24,968
Beginning balance, shares at Mar. 31, 2024	6,472	1,315
Beginning balance, shares at Mar. 31, 2024	(6,472)	(1,315)
Share based payment expense
Net income to common shareholders				247		247
Foreign currency translation					4	4
Ending balance, value at Jun. 30, 2024	$ 65	$ (6,371)	$ 88,865	$ (56,938)	$ (402)	$ 25,219
Beginning balance, shares at Jun. 30, 2024	6,472	1,315
Beginning balance, shares at Jun. 30, 2024	(6,472)	(1,315)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 338	$ 145
Adjustments to reconcile net income to net cash used in operating activities:
Amortization and depreciation	88	107
Share based payment expense	11	49
Loss on foreign exchange rates	14	79
Deferred income taxes	269	153
Bad debt expense	50	82
Changes in operating assets and liabilities:
Accounts receivable	(928)	(659)
Prepaid expenses and other current assets	98	(33)
Right of use assets-operating	347	349
Other assets	2	21
Due to models	(835)	(563)
Lease liabilities - operating	(381)	(149)
Contract liabilities	0	(270)
Accounts payable and accrued liabilities	104	(423)
Net cash used in operating activities	(823)	(1,112)
Cash flows from investing activities:
Purchases of property and equipment	(17)	(109)
Purchases of short term investments	(7,173)	0
Maturities of short term investments	7,650	0
Net cash provided by (used in) investing activities	460	(109)
Cash flows from financing activities:
Payments on finance leases	(16)	(32)
Net cash used in financing activities	(16)	(32)
Foreign currency effect on cash flows:	(26)	198
Net change in cash and cash equivalents:	(405)	(1,055)
Cash and cash equivalents, beginning of period	6,117	11,998
Cash and cash equivalents, end of period	5,712	10,943
Supplemental disclosures of cash flow information:
Cash paid for income taxes	$ 26	$ 49

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ 247	$ 91	$ (14)	$ 159	$ 338	$ 145

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The interim consolidated financial statements included herein have been prepared by Wilhelmina International, Inc. (together with its subsidiaries, "Wilhelmina" or the "Company") without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Although certain information and footnote disclosures normally included in 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 10 December 31, 2023. not may

Business Activity

Business Activity	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Activity	Note 2. Business Activity The primary business of Wilhelmina is fashion model management. These business operations are headquartered in New York City. The Company’s predecessor was founded in 1967 one

Foreign Currency Translation

Foreign Currency Translation	6 Months Ended
	Jun. 30, 2024
Foreign Currency [Abstract]
Foreign Currency Translation	Note 3. Foreign Currency Translation The functional currency of our subsidiary in the United Kingdom is the British Pound. Assets and liabilities are translated into U.S. dollars at the exchange rates in effect at each balance sheet date. Results of operations are translated using the weighted average exchange rates during reporting periods. Related translation adjustments are accumulated in a separate component of shareholders’ equity and transaction gains and losses are recognized in the consolidated statements of operations and comprehensive income when realized.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 4. Commitments and Contingencies On October 24, 2013, a putative class action lawsuit was brought against the Company by former Wilhelmina model Alex Shanklin and others, including Louisa Raske, Carina Vretman, Grecia Palomares and Michelle Griffin Trotter (the “Shanklin Litigation”), in New York State Supreme Court (New York County) by the same lead counsel who represented plaintiffs in a prior, now-dismissed action brought by Louisa Raske (the “Raske Litigation”). The claims in the Shanklin Litigation initially included breach of contract and unjust enrichment allegations arising out of matters similar to 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 included other model management companies, advertising firms, and certain advertisers. On January 6, 2014, the Company moved to dismiss the Amended Complaint in the Shanklin Litigation for failure to state a claim upon which relief can be granted and other grounds, and other defendants also filed motions to dismiss. On August 11, 2014, the court denied the motion to dismiss as to Wilhelmina and other of the model management defendants. Separately, on March 3, 2014, the judge assigned to the Shanklin Litigation wrote the Office of the New York Attorney General bringing the case to its attention, generally describing the claims asserted therein against the model management defendants, and stating that the case “may involve matters in the public interest.” The judge’s letter also enclosed a copy of his decision in the Raske Litigation, which dismissed that case. 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 independent contractors, of the model management defendants, and that defendants violated the New York Labor Law in several respects, including, among other things, by allegedly failing to pay the models the minimum wages and overtime pay required thereunder, not maintaining accurate payroll records, and not providing plaintiffs with full explanations of how their wages and deductions therefrom were computed. The Third Amended Complaint seeks certification of the action as a class action, damages in an amount to be determined at trial, plus interest, costs, attorneys’ fees, and such other relief as the court deems proper. On October 6, 2015, Wilhelmina filed a motion to dismiss as to most of the plaintiffs’ claims. The Court entered a decision granting in part and denying in part Wilhelmina’s motion to dismiss on May 26, 2017. The Court (i) dismissed three of the five New York Labor Law causes of action, along with the conversion, breach of the duty of good faith and fair dealing and unjust enrichment causes of action, in their entirety, and (ii) permitted only the breach of contract causes of action, and some plaintiffs’ remaining two New York Labor Law causes of action to continue, within a limited time frame. The plaintiffs and Wilhelmina each appealed, and the decision was affirmed on May 24, 2018. On August 16, 2017, Wilhelmina timely filed its Answer to the Third Amended Complaint. On June 6, 2016, another putative class action lawsuit was brought against the Company by former Wilhelmina model Shawn Pressley and others, including Roberta Little (the “Pressley Litigation”), in New York State Supreme Court (New York County) by the same counsel representing the plaintiffs in the Shanklin Litigation, and asserting identical, although more recent, claims as those in the Shanklin Litigation. The Amended Complaint, asserting essentially the same types of claims as in the Shanklin action, was filed on August 16, 2017. Wilhelmina filed a motion to dismiss the Amended Complaint on September 29, 2017, which was granted in part and denied in part on May 10, 2018. Some New York Labor Law and contract claims remain in the case. Pressley has withdrawn from the case, leaving Roberta Little as the sole remaining named plaintiff in the Pressley Litigation. On July 12, 2019, the Company filed its Answer and Counterclaim against Little. On May 1, 2019, the Plaintiffs in the Shanklin Litigation (except Raske) and the Pressley Litigation filed motions for class certification on their contract claims and the remaining New York Labor Law Claims. On July 12, 2019, Wilhelmina filed its opposition to the motions for class certification and filed a cross-motion for summary judgment against Shanklin, Vretman, Palomares, Trotter and Little, and a motion for summary judgment against Raske. By Order dated May 8, 2020 (the “Class Certification Order”), the Court denied class certification in the Pressley case, denied class certification with respect to the breach of contract and alleged unpaid usage claims, granted class certification as to the New York Labor Law causes of action asserted by Vretman, Palomares and Trotter, and declined to rule on Wilhelmina’s motions for summary judgment, denying them without prejudice to be re-filed at a later date. Currently the parties are engaging in merits discovery. 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 amount has been accrued as of June 30, 2024 related to these matters. 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 likely, in the Company's opinion, to have a material adverse effect on its consolidated financial position or its results of operations.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes Generally, the Company’s combined effective tax rate is high relative to reported income before taxes as a result of certain amortization expense, stock based compensation, and corporate overhead not being deductible and income being attributable to certain states in which it operates. In recent years, the majority of taxes paid by the Company were state and foreign taxes, not U.S. federal taxes. The Company operates in three states which have relatively high tax rates: California, New York, and Florida. Realization of net operating loss carryforwards, foreign tax credits, and other deferred tax temporary differences are contingent upon future taxable earnings. The Company’s deferred tax assets are reviewed for expected utilization by assessing the available positive and negative factors surrounding recoverability, including projected future taxable income, reversal of existing taxable temporary differences, tax-planning strategies, and results of recent operations. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. The Company will continue to assess the evidence used to determine the need for a valuation allowance if warranted by changes in estimated future income and other factors. As of June 30, 2024, the Company had no

Treasury Shares

Treasury Shares	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Treasury Shares	Note 6. Treasury Shares During 2012, the Board of Directors authorized a stock repurchase program whereby the Company could repurchase up to 500,000 1,000,000 500,000 1,500,000 From 2012 through June 30, 2024, the Company had repurchased 1,314,694 4.85 6.4 million no

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Parties	Note 7. 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 $ 15 thousand no

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements A three-level valuation hierarchy, based upon observable and unobservable inputs, is used for fair value measurements. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions based on the best evidence available. These two types of inputs create the following fair value hierarchy: · Level 1 – Quoted prices for identical instruments in active markets · Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations whose significant inputs are observable · Level 3 – Instruments with model-derived valuations whose significant inputs are unobservable Cash and cash equivalents include cash on hand, cash in banks, and short-term, highly liquid investments with maturities of three months or less. Short-term investments with maturities of over three and up to twelve months are recorded in Short-term investments on the Condensed Consolidated Balance Sheets. The following table presents the fair value of the Company’s cash and cash equivalents and short-term investments and their corresponding level within the fair value hierarchy: Schedule of Fair Value of Assets June 30, 2024 December 31, 2023 Level Amount Level Amount Cash and cash equivalents Cash $ 5,211 $ 1 $ 6,107 Money market funds 1 501 10 Total $ 5,712 $ 6,117 Short-term investments United States Treasury securities 1 $ 6,277 1 $ 6,596 Total 6,277 6,596 Total cash and cash equivalents and short-term investments $ 11,989 $ 12,713 As of June 30, 2024 and December 31, 2023, the fair value of cash equivalents and short-term investments approximated their cost.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets	Schedule of Fair Value of Assets June 30, 2024 December 31, 2023 Level Amount Level Amount Cash and cash equivalents Cash $ 5,211 $ 1 $ 6,107 Money market funds 1 501 10 Total $ 5,712 $ 6,117 Short-term investments United States Treasury securities 1 $ 6,277 1 $ 6,596 Total 6,277 6,596 Total cash and cash equivalents and short-term investments $ 11,989 $ 12,713

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	Jun. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
Federal Income Tax Loss Carryforwards	$ 0

Treasury Shares (Details Narrat

Treasury Shares (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended	141 Months Ended	150 Months Ended
	Jun. 30, 2024	Dec. 31, 2016	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2013	Dec. 31, 2012
Equity [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		1,500,000			1,000,000	500,000
Stock Repurchase Program Additional Shares Authorized		500,000
Treasury Stock, Shares, Acquired				1,314,694
Shares Acquired, Average Cost Per Share				$ 4.85
Treasury Stock, Value, Acquired, Cost Method	$ 0		$ 6,400,000

Related Parties (Details Narrat

Related Parties (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Newcastle Partners [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contractual Obligation	$ 0
Corporate Offices [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating Lease, Expense	$ 15,000	$ 15,000

Schedule of Fair Value Asset Me

Schedule of Fair Value Asset Measurements (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 11,989	$ 12,713
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	5,712	6,117
Investments, Fair Value Disclosure	6,277	6,596
Fair Value, Inputs, Level 1 [Member] | Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	5,211	6,107
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	501	10
Fair Value, Inputs, Level 1 [Member] | Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 6,277	$ 6,596