Xcel Brands (XELB) 10-Q 10 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 04, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	XCel Brands, Inc.
Entity Central Index Key	1,083,220
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	XELB
Entity Common Stock, Shares Outstanding		18,671,969

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 13,471	$ 16,860
Accounts receivable, net	10,077	7,594
Prepaid expenses and other current assets	567	655
Total current assets	24,115	25,109
Property and equipment, net	2,369	871
Trademarks and other intangibles, net	111,759	112,323
Goodwill	12,371	12,371
Restricted cash	1,509	1,109
Other assets	282	343
Total non-current assets	128,290	127,017
Total Assets	152,405	152,126
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	3,822	3,372
Deferred revenue	39	597
Current portion of long-term debt	8,058	8,918
Current portion of long-term debt, contingent obligations	0	250
Total current liabilities	11,919	13,137
Long-Term Liabilities:
Long-term debt, less current portion	29,843	31,860
Deferred tax liabilities, net	6,490	6,749
Other long-term liabilities	1,821	297
Total long-term liabilities	38,154	38,906
Total Liabilities	50,073	52,043
Commitments and Contingencies
Stockholders' Equity:
Preferred stock, $.001 par value, 1,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $.001 par value, 35,000,000 shares authorized at June 30, 2016 and December 31, 2015, and 18,670,686 and 18,434,634 issued and outstanding at June 30, 2016 and December 31, 2015, respectively	19	18
Paid-in capital	96,382	93,999
Retained earnings	5,931	6,066
Total Stockholders' Equity	102,332	100,083
Total Liabilities and Stockholders' Equity	$ 152,405	$ 152,126

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	18,670,686	18,434,634
Common stock, shares outstanding	18,670,686	18,434,634

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
Net licensing revenue	$ 9,092	$ 6,269	$ 17,437	$ 12,793
Net e-commerce sales	24	52	71	119
Total revenues	9,116	6,321	17,508	12,912
Cost of goods sold	36	35	106	80
Gross profit	9,080	6,286	17,402	12,832
Operating expenses
Salaries, benefits and employment taxes	4,217	3,073	8,427	6,176
Other design and marketing costs	831	808	1,660	1,092
Other selling, general and administrative expenses	1,988	535	3,294	1,521
Stock-based compensation	1,453	1,108	2,665	2,121
Depreciation and amortization	359	318	785	580
Total operating expenses	8,848	5,842	16,831	11,490
Other expenses (income)
Gain on reduction of contingent obligation	0	(3,000)	0	(3,000)
Loss on extinguishment of debt	0	760	0	1,371
Total other income, net	0	(2,240)	0	(1,629)
Operating income	232	2,684	571	2,971
Interest and finance expense
Interest expense - term debt	352	309	663	621
Other interest and finance charges	178	124	302	323
Total interest and finance expense	530	433	965	944
Income (loss) from continuing operations before income taxes	(298)	2,251	(394)	2,027
Income tax (benefit) provision	(208)	90	(259)	(16)
Income (loss) from continuing operations	(90)	2,161	(135)	2,043
Loss from discontinued operations, net	0	(54)	0	(267)
Net income (loss)	$ (90)	$ 2,107	$ (135)	$ 1,776
Basic and diluted net (loss) income per share:
Continuing operations (in dollars per share)	$ 0	$ 0.15	$ (0.01)	$ 0.14
Discontinued operations, net (in dollars per share)	0	(0.01)	0	(0.02)
Net (loss) income (in dollars per share)	0	0.14	(0.01)	0.12
Diluted net (loss) income per share:
Continuing operations (in dollars per share)	0	0.14	(0.01)	0.13
Discontinued operations, net (in dollars per share)	0	(0.01)	0	(0.02)
Net (loss) income (in dollars per share)	$ 0	$ 0.13	$ (0.01)	$ 0.11
Basic weighted average common shares outstanding (in shares)	18,671,648	14,850,874	18,565,198	14,462,305
Diluted weighted average common shares outstanding (in shares)	18,671,648	15,963,975	18,565,198	15,575,406

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities
Net (loss) income	$ (135)	$ 1,776
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Loss from discontinued operations, net	0	267
Depreciation and amortization expense	785	580
Amortization of deferred finance costs	94	77
Stock-based compensation	2,665	2,121
Recovery of allowance for doubtful accounts	0	(21)
Amortization of note discount	158	246
Deferred income tax benefit	(259)	(85)
Tax benefit from vested stock grants and exercised options	0	(69)
Non-cash property exit charge	648	0
Gain on reduction of contingent obligation	0	(3,000)
Loss on extinguishment of debt	0	1,371
Changes in operating assets and liabilities:
Accounts receivable	(2,484)	(2,903)
Prepaid expenses and other assets	92	(204)
Accounts payable, accrued expenses and other current liabilities	449	(1,010)
Deferred revenue	(558)	(78)
Other liabilities	875	(23)
Net cash provided by (used in) operating activities from continuing operations	2,330	(955)
Net cash provided by operating activities from discontinued operations, net	0	207
Net cash provided by (used in) operating activities	2,330	(748)
Cash flows from investing activities
Cash consideration for asset acquisition of the H Halston Brand	0	(14)
Advance deposit for asset acquisition of the C Wonder Brand	0	(300)
Purchase of property and equipment	(1,718)	(47)
Restricted cash for security deposits	(400)	(1,109)
Net cash used in investing activities	(2,118)	(1,470)
Cash flows from financing activities
Proceeds from exercise of stock options	20	0
Tax benefit from vested stock grants and exercised options	0	69
Shares repurchased including vested restricted stock in exchange for withholding taxes	(302)	0
Payment of deferred finance costs	(69)	(10)
Costs associated with equity offering	0	(316)
Payment of long-term debt	(3,000)	(1,256)
Payment of QVC earnout obligation	(250)	0
Payment of installment obligations related to the acquisition of the Ripka Brand	0	(2,183)
Net cash used in financing activities	(3,601)	(3,696)
Net decrease in cash and cash equivalents	(3,389)	(5,914)
Cash and cash equivalents, beginning of period	16,860	8,531
Cash and cash equivalents, end of period	13,471	2,617
Supplemental disclosure of cash flow information:
Cash paid during the period for income taxes	118	437
Cash paid during the period for interest	560	610
Ripka Seller Notes [Member]
Supplemental disclosure of non-cash activities:
Issuance of common stock as payment for a portion of the Ripka Seller Notes	$ 0	$ 5,401

Nature of Operations, Backgroun

Nature of Operations, Background, and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Nature of Operations, Background, and Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the United States Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed consolidated financial statements were prepared following the same policies and procedures used in the preparation of the audited consolidated financial statements and reflect all adjustments (consisting of normal recurring adjustments) necessary to present fairly the results of operations, financial position, and cash flows of Xcel Brands, Inc. and its subsidiaries (the “Company”). The results of operations for the interim periods presented herein are not necessarily indicative of the results for the entire fiscal year or for any future interim periods. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on March 17, 2016. The Company is a brand management and media company engaged in the design, production, licensing, marketing, and direct to consumer sales of branded apparel, footwear, accessories, jewelry, home goods, and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Currently, the Company’s brand portfolio consists of the Isaac Mizrahi brand (the "Isaac Mizrahi Brand"), the Judith Ripka brand (the “Ripka Brand”), the H by Halston and H Halston brands (collectively, the “H Halston Brands”), the C Wonder brand (the “C Wonder Brand”), and the Highline Collective brand. The Company also managed and designed the Liz Claiborne New York brand (“LCNY Brand”) through July 31, 2016. The Company licenses its brands to third parties, provides certain design, production, and marketing services, and generates royalty design and service fee revenues through licensing and other agreements with manufacturers and retailers. These activities include licensing its own brands for promotion and distribution through an omni-channel retail sales strategy, which encompasses distribution through interactive television, the internet, and traditional brick-and-mortar retail channels. In December 2014, the Company decided to close its retail stores. Accordingly, the Company’s retail operations are treated and presented as discontinued operations (see Note 8). Certain reclassifications have been made to the prior period condensed consolidated financial statements to conform to the current period presentation. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-09, “Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 requires that all excess tax benefits and tax deficiencies be recognized in the income statement as discrete tax items in the interim period in which they occur, clarifies that employee taxes paid when an employer withholds shares for tax purposes should be presented on the statement of cash flows as a financing activity, and changes the presentation of excess tax benefits on the statement of cash flows from a financing activity to an operating activity. ASU 2016-09 also provides for a policy election to either estimate the number of awards expected to vest (as per current GAAP) or account for forfeitures when they occur. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2016 (i.e., calendar years beginning on January 1, 2017), including interim periods within those fiscal years. Early adoption is permitted in any interim or annual period. The Company is currently evaluating the impact that the adoption of ASU 2016-09 will have on the Company’s consolidated financial statements. In April 2016, FASB issued Accounting Standards Update No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” (“ASU 2016-10”), and in May 2016, FASB issued Accounting Standards Update No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”). These Accounting Standards Updates contain amendments that provide additional guidance, clarification, and practical expedients related to ASU No. 2014-09 “Revenue from Contracts with Customers” (“ASU 2014-09”), which was issued by the FASB in May 2014. ASU 2016-10 amends certain aspects of the guidance in ASU 2014-09 related to identifying performance obligations and applying the new revenue guidance to licensing transactions. ASU 2016-12 addresses topics of collectability, presentation of sales tax collected from customers, non-cash consideration, contract modifications and completed contracts at transition, and transition disclosures. The Company will incorporate the guidance contained in ASU 2016-10 and ASU 2016-12 into its overall evaluation and adoption of ASU 2014-09, which collectively will be effective for fiscal years beginning after December 15, 2017 and interim periods therein. In June 2016, FASB issued Accounting Standards Update No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 changes the accounting guidance related to the measurement of credit losses on financial assets measured at amortized cost (including trade receivables) by eliminating the current “incurred loss” methodology, which requires a probable initial recognition threshold, and instead requiring that the valuation and presentation of financial assets reflect an entity’s current estimate of all expected credit losses. For public companies that are SEC filers, this new accounting guidance is effective for fiscal years beginning after December 15, 2019 (i.e. calendar years beginning on January 1, 2020), including interim periods within those fiscal years. The Company is currently evaluating the impact that the adoption of ASU 2016-13 will have on the Company’s consolidated financial statements.

Trademarks, Goodwill and Other

Trademarks, Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	2. Trademarks, Goodwill and Other Intangibles June 30, 2016 ($ in thousands) Weighted- Gross Carrying Accumulated Net Carrying Trademarks (indefinite-lived) n/a $ 96,676 $ - $ 96,676 Trademarks (definite-lived) 15 years 15,437 943 14,494 Licensing agreements 4 years 2,000 2,000 - Non-compete agreement 7 years 562 120 442 Copyrights and other intellectual property 10 years 190 43 147 Total $ 114,865 $ 3,106 $ 111,759 December 31, 2015 ($ in thousands) Weighted- Gross Carrying Accumulated Net Carrying Trademarks (indefinite-lived) n/a $ 96,676 $ - $ 96,676 Trademarks (definite-lived) 15 years 15,437 429 15,008 Licensing agreements 4 years 2,000 2,000 - Non-compete agreement 7 years 562 80 482 Copyrights and other intellectual property 10 years 190 33 157 Total $ 114,865 $ 2,542 $ 112,323 Amortization expense for intangible assets for the quarter ended June 30, 2016 (the “Current Quarter”) and the quarter ended June 30, 2015 (the “Prior Year Quarter”) was $282,000 and $157,000, respectively. Amortization expense for intangible assets for the six months ended June 30, 2016 (“Current Six Months”) and the six months ended June 30, 2015 (the “Prior Year Six Months”) was $ 564,000 314,000 The trademarks related to the Isaac Mizrahi Brand, the Ripka Brand, and the H Halston Brands have been determined to have indefinite useful lives, and accordingly no amortization has been recorded for these assets. The Company has $ 12.371

Significant Contracts

Significant Contracts	6 Months Ended
	Jun. 30, 2016
Significant Contracts [Abstract]
Significant Contracts [Text Block]	3. Significant Contracts QVC Agreements Under the Company’s agreements with QVC, QVC is required to pay the Company fees based primarily on a percentage of its net sales of Isaac Mizrahi, Ripka, H Halston, and C Wonder branded merchandise. QVC royalty revenue represents a significant portion of the Company’s total revenues. Revenues from QVC totaled $ 7.83 5.74 86 91 15.14 11.47 87 89 7.33 6.40 73 84

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	4. Debt ($ in thousands) June 30, December 31, Xcel Term Loan $ 27,000 $ - IM Term Loan - 11,375 JR Term Loan - 7,875 H Term Loan - 10,000 Unamortized deferred finance costs related to term loans (527) (493) IM Seller Note 4,308 4,918 Ripka Seller Notes 486 469 Contingent obligation - IM Seller - 250 Contingent obligation - JR Seller 3,784 3,784 Contingent obligation - CW Seller 2,850 2,850 Total 37,901 41,028 Current portion (i) 8,058 9,168 Long-term debt $ 29,843 $ 31,860 (i) The current portion of long-term debt as of June 30, 2016 consists of (a) $ 3.750 4.308 Xcel Term Loan On February 26, 2016, Xcel and its wholly owned subsidiaries, IM Brands, LLC, JR Licensing, LLC, H Licensing, LLC, C Wonder Licensing, LLC, Xcel Design Group, LLC, IMNY Retail Management, LLC, and IMNY E-Store, USA, LLC (each a “Guarantor” and collectively, the “Guarantors”), as Guarantors, entered into an Amended and Restated Loan and Security Agreement (the “Loan Agreement”) with Bank Hapoalim B.M. (“BHI”), as agent (the “Agent”), and the financial institutions party thereto as lenders (the “Lenders”). The Loan Agreement amended and restated the IM Term Loan, the JR Term Loan, and the H Term Loan. Pursuant to the Loan Agreement, Xcel assumed the obligations of each of IM Brands, LLC, JR Licensing, LLC, and H Licensing, LLC under the respective term loans with BHI in the aggregate principal amount of $ 27,875,000 The Xcel Term Loan matures on January 1, 2021. Principal on the Xcel Term Loan is payable in quarterly installments on each of January 1, April 1, July 1 and October 1. ($ in thousands) Amount of Principal Year Ending December 31, Payment 2016 (July 1 through December 31) $ 1,750 2017 4,000 2018 4,000 2019 4,000 2020 4,000 2021 9,250 Total $ 27,000 Under the Loan Agreement, the Company has the right to prepay the Xcel Term Loan, provided that any prepayment of less than all of the outstanding balance shall be applied to the remaining amounts due in inverse order of maturity. If the Xcel Term Loan is prepaid on or prior to the third anniversary of the closing date (including as a result of an event of default), the Company shall pay an early termination fee as follows: an amount equal to the principal amount outstanding under the Term Loan on the date of prepayment, multiplied by: (i) two percent (2.00%) if the Xcel Term Loan is prepaid on or after the closing date and on or before the second anniversary of the closing date; and (ii) one percent (1.00%) if the Xcel Term Loan is prepaid after the second anniversary of the closing date and on or before the third anniversary of the closing date. Commencing with the fiscal year ending December 31, 2017, the Company is required to repay a portion of the Xcel Term Loan in an amount equal to 10% of the excess cash flow for the fiscal year; provided that no early termination fee shall be payable with respect to any such payment. Excess cash flow means, for any period, cash flow from operations (before certain permitted distributions) less (i) capital expenditures not made through the incurrence of indebtedness, (ii) all cash interest and principal and taxes paid or payable during such period, and (iii) all dividends declared and paid during such period to equity holders of any credit party treated as a disregarded entity for tax purposes. Xcel’s obligations under the Loan Agreement are guaranteed by the Guarantors and secured by all of the assets of Xcel and the Guarantors (as well as any subsidiary formed or acquired that becomes a credit party to the Loan Agreement) and, subject to certain limitations contained in the Loan Agreement, equity interests of the Guarantors (as well as any subsidiary formed or acquired that becomes a credit party to the Loan Agreement). Interest on the Xcel Term Loan accrues at a fixed rate of 5.1 ⋅ net worth (as defined in the Loan Agreement) of at least $ 90,000,000 ⋅ liquid assets of at least $ 5,000,000 1.00 1.00 3,000,000 ⋅ a fixed charge ratio of at least 1.20 1.00 ⋅ capital expenditures shall not exceed (i) $ 2,650,000 700,000 ⋅ EBITDA (as defined in the Loan Agreement) of $ 9,500,000 9,000,000 The Company was in compliance with all applicable covenants as of June 30, 2016. In connection with the refinancing of its term loan debt, the Company paid $ 116,000 466,000 IM Seller Note On September 29, 2011, as part of the consideration for the purchase of the Isaac Mizrahi Business, the Company issued to IM Ready-Made, LLC (“IM Ready”) a promissory note in the principal amount of $ 7,377,000 0.25 9.25 1,740,000 9.0 5,637,000 123,000 On December 24, 2013, the IM Seller Note was amended to (1) revise the maturity date to September 30, 2016 (the “Amended Maturity Date”), (2) revise the date to which the maturity date may be extended to September 30, 2018, (3) provide the Company with a prepayment right with its common stock, subject to remitting in cash the required cash payments set forth below and a minimum common stock price of $ 4.50 The remaining scheduled principal payment (including amortization of imputed interest) of $ 4,377,000 For the Current Quarter and Prior Year Quarter, the Company incurred interest expense of $ 69,000 78,000 69,000 73,000 140,000 158,000 140,000 149,000 Ripka Seller Notes On April 3, 2014, as part of the consideration for the purchase of the Ripka Brand, JR Licensing issued to Ripka promissory notes in the aggregate principal amount of $ 6,000,000 7.00 Management determined that the Company’s expected borrowing rate was estimated to be 7.33 1,835,000 7.33 4,165,000 On February 20, 2015, the Company agreed to cancel Ripka Seller Notes in the principal amount of $ 3.0 2.4 2,400,000 600,000 75,000 600,000 2,400,000 On February 20, 2015, the Company entered into a release letter (the “Release Letter”) with Thai Jewelry, pursuant to which the Company agreed to issue to Thai Jewelry an aggregate of 266,667 2,400,000 2.4 1.79 On April 21, 2015, the Company satisfied an additional $ 3.00 333,334 3.00 2.24 0.76 For both the Current Quarter and Prior Year Quarter, the Company incurred interest expense of $ 9,000 17,000 88,000 Contingent Obligation – IM Seller (QVC Earn-Out) The Company was obligated to pay IM Ready $ 2.76 2.5 4.50 2.5 290,473 0.25 Contingent Obligation – JR Seller (Ripka Earn-Out) In connection with the purchase of the Ripka Brand, the Company agreed to pay Ripka additional consideration of up to $ 5 7.00 1 3.78 Contingent Obligations – CW Seller (C Wonder Earn-Out) In connection with the purchase of the C Wonder Brand, the Company agreed to pay the seller additional consideration (the “C Wonder Earn-Out”), which would be payable, if at all, in cash or shares of common stock of the Company, at the Company’s sole discretion, after June 30, 2019, with a value based on the royalties related directly to the assets the Company acquired pursuant to the purchase agreement. The value of the earn-out shall be calculated as the positive amount, if any, of (i) two times (A) the maximum net royalties as calculated for any single twelve month period commencing on July 1 and ending on June 30 between the closing date and June 30, 2019 (each, a “Royalty Target Year”) less (B) $ 4,000,000 2.85 As of June 30, 2016 and December 31, 2015, total contingent obligations were $ 6.63 6.88

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	5. Stockholders’ Equity 2011 Equity Incentive Plan The Company’s 2011 Equity Incentive Plan, as amended and restated (the “Plan”), is designed and utilized to enable the Company to provide its employees, officers, directors, consultants and others whose past, present and/or potential contributions to the Company have been, are or will be important to the success of the Company, an opportunity to acquire a proprietary interest in the Company. A total of 8,000,000 The fair value of options and warrants is estimated on the date of grant using the Black-Scholes option pricing model. The valuation determined by the Black-Scholes option pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The risk-free rate is based on the U.S. Treasury rate for the expected life at the time of grant, volatility is based on the average long-term implied volatilities of peer companies, the expected life is based on the estimated average of the life of options and warrants using the simplified method, and forfeitures are estimated on the date of grant based on certain historical data. The Company utilizes the simplified method to determine the expected life of the options and warrants due to insufficient exercise activity during recent years as a basis from which to estimate future exercise patterns. The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. Forfeitures are required to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For stock option awards for which vesting is contingent upon the achievement of certain performance targets, the timing and amount of compensation expense recognized is based upon the Company’s projections and estimates of the relevant performance metric(s). Stock Options Options granted under the Plan expire at various times, either five, seven or ten years from the date of grant, depending on the particular grant. On March 1, 2016, the Company granted options to purchase an aggregate of 100,000 7.00 On March 31, 2016, the Company granted options to purchase an aggregate of 1,671,500 5.80 On March 31, 2016, the Company granted options to purchase an aggregate of 500,000 100,000 5.80 400,000 7.50 On March 31, 2016, the Company granted options to purchase an aggregate of 150,000 5.80 50 Expected Volatility 33.25 – 33.88 % Expected Dividend Yield 0 % Expected Life (Term) 3.25 – 5.32 years Risk-Free Interest Rate 0.91 – 1.21 % Number of Weighted Weighted Aggregate Outstanding at January 1, 2016 379,500 $ 5.50 1.71 $ 1,174,000 Granted 2,421,500 6.13 Canceled - - Exercised (10,000) (3.10) Expired/Forfeited (18,500) (4.82) Outstanding at June 30, 2016, and expected to vest 2,772,500 $ 6.06 4.58 $ - Exercisable at June 30, 2016 340,500 $ 5.45 1.01 $ - Compensation expense related to stock options for the Current Quarter and the Prior Year Quarter was approximately $ 329,000 16,000 349,000 33,000 3,183,000 3.05 Number of Weighted Balance at January 1, 2016 47,500 $ 1.43 Granted 2,421,500 1.45 Vested (25,000) 1.41 Forfeited or Canceled (12,000) 1.49 Balance at June 30, 2016 2,432,000 $ 1.45 Warrants Warrants granted under the Plan expire at various times, either five, seven or ten years from the date of grant, depending on the particular grant. Number of Weighted Weighted Aggregate Outstanding and exercisable at January 1, 2016 2,219,543 $ 6.07 3.23 $ 3,168,000 Granted - - Canceled - - Exercised (26,000) (0.01) Expired/Forfeited - - Outstanding and exercisable at June 30, 2016 2,193,543 $ 6.14 2.77 $ - No compensation expense was recognized in the Current Six Months or Prior Year Six Months related to warrants. Restricted Stock On March 31, 2016, the Company issued to a key employee 17,242 On March 31, 2016, the Company issued to a member of management 50,000 4 25 On March 31, 2016, the Company issued to certain executives an aggregate of 150,001 On March 31, 2016, the Company issued to non-management directors an aggregate of 48,000 50 Notwithstanding the foregoing, each grantee may extend the first anniversary of all or a portion of the restricted stock by six months and, thereafter one or more times may further extend such date with respect to all or a portion of the restricted stock until the next following September 30th or March 31st, as the case may be, by providing written notice of such election to extend such date with respect to all or a portion of the restricted stock prior to such date. Number of Weighted Outstanding at January 1, 2016 3,530,485 $ 4.95 Granted 265,243 5.80 Canceled - - Vested (189,900) 5.05 Expired/Forfeited (11,275) 8.63 Outstanding at June 30, 2016 3,594,553 $ 5.00 Compensation expense related to restricted stock grants for the Current Quarter and Prior Year Quarter was $ 1,124,000 1,092,000 2,316,000 2,088,000 Total unrecognized compensation expense related to unvested restricted stock grants at June 30, 2016 amounts to $ 3,629,000 1.64 Shares Available Under the Company’s 2011 Equity Incentive Plan At June 30, 2016, there were 590,663 Shares Reserved for Issuance At June 30, 2016, there were 5,556,706 Dividends The Company has not paid any dividends to date.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	6. Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all potentially dilutive common shares outstanding during the period, including stock options and warrants, using the treasury stock method. Diluted EPS excludes all potentially dilutive shares of common stock if their effect is anti-dilutive. Three Months Ended Six Months Ended 2016 2015 2016 2015 Basic 18,671,648 14,850,874 18,565,198 14,462,305 Effect of exercise of warrants - 971,873 - 971,873 Effect of exercise of stock options - 141,228 - 141,228 Diluted 18,671,648 15,963,975 18,565,198 15,575,406 As a result of the net loss from continuing operations presented for the three and six months ended June 30, 2016, the Company calculated diluted earnings per share using basic weighted-average shares outstanding for those periods, as utilizing diluted shares would be anti-dilutive to loss per share. Three Months Ended Six Months Ended 2016 2015 2016 2015 Stock options and warrants 4,966,043 750,000 4,966,043 750,000

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	7. Income Tax The effective income tax rate for the Current Quarter and the Prior Year Quarter from continuing operations was approximately 70 4 208,000 90,000 The effective income tax rate for the Current Six Months and the Prior Year Six Months was approximately 66 (1) 259,000 16,000 During the Current Quarter and the Current Six Months, the respective effective tax rates were attributable to recurring permanent differences. Based on the amount of loss from continuing operations before income taxes compared to the permanent differences, the effective rate increased by 29 25 For the Prior Year Quarter and the Prior Year Six Months, the Company recorded a $ 3.00 37 42

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	8. Discontinued Operations Three Months Ended Six Months Ended 2016 2015 2016 2015 Net sales $ - $ 181 $ - $ 287 Cost of sales - (101) - (221) Operating expenses - (91) - (266) Loss from disposal of discontinued operations - (77) - (241) Income tax benefit - 34 - 174 Loss from discontinued operations, net $ - $ (54) $ - $ (267) Loss per share from discontinued operations, net: Basic $ - $ (0.01) $ - $ (0.02) Diluted $ - $ (0.01) $ - $ (0.02) Weighted average shares outstanding: Basic 18,671,648 14,850,874 18,565,198 14,462,305 Diluted 18,671,648 15,963,975 18,565,198 15,575,406 Assets and liabilities of discontinued operations were not material as of June 30, 2016 and December 31, 2015.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	9. Related Party Transactions Licensing Agent Agreement On August 2, 2011, the Company entered into a licensing agent agreement with Adam Dweck, son of Jack Dweck, a former director of the Company, pursuant to which he is entitled to a five percent commission on any royalties the Company receives under any new license agreements that he procures for the Company for the initial term of such license agreements. Adam Dweck earned approximately $ 1,000 7,000 2,000 14,000 Todd Slater On September 29, 2011, the Company entered into an agreement, which was amended on October 4, 2011 and on July 10, 2012, with Todd Slater, who is a director of the Company, for services related to the Company’s licensing strategy and introduction to potential licensees. In July 2012, the Company made a one-time payment to Mr. Slater of $ 163,000 8,000 16,000 Benjamin Malka The Company entered into a license agreement with The H Company IP, LLC (“HIP”) on December 22, 2014, which was amended September 1, 2015. Benjamin Malka, a director of the Company, is a 25 December 31, 2019 On September 1, 2015 the Company entered into a license agreement with Lord and Taylor, LLC (the “L&T License”) and simultaneously amended the H Halston License Agreement eliminating HIP’s minimum guaranteed royalty obligations, provided the L&T License is in effect. In addition, the Company entered into a sublicense agreement with HIP obligating the Company to pay HIP a royalty participation fee on an annual basis the greater of (i) 50 0.25 0.75 0.75 1.5 1.75 The Company incurred a $ 28,000 62,000 HOH has also entered into an arrangement with another licensee of the Company to supply Halston-branded apparel for the subsequent sale of such product to end customers. Under the Company’s separate pre-existing licensing agreements in place with the aforementioned other licensee and with HIP as described above, the Company earns royalties on the sales of such Halston-branded products. Edward Jones, III On May 14, 2015, and amended on June 24, 2015, the Company entered into a consulting agreement with Jones Texas, Inc., ("JT Inc.") whose controlling shareholder is Edward Jones, a director of the Company. The agreement, as amended, provided for fees payable to JT Inc. up to $ 75,000 12,500 62,500 During the six months ended June 30, 2016, Edward Jones performed consulting services for and received compensation from a certain licensee of the Company (the “Licensee”). Under the terms of the Company’s agreement with the Licensee, the Licensee may supply the Company’s branded products to our other licensees. Under the terms of the Company’s separate pre-existing agreements with other licensees, the Company would earn royalties on the sales of such branded products sold to end customers. To date, the Company has not earned or received any fees or revenues related to the Company’s agreement with the Licensee, but may earn or receive such amounts in the future.

Facility Exit Costs

Facility Exit Costs	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	10. Facility Exit Costs In June 2016, the Company relocated its corporate offices and operations from 475 Tenth Avenue in New York City to 1333 Broadway in New York City. In connection with the exit from its former office location, the Company recognized a liability at the exit and cease-use date for the remaining lease obligation associated with 475 Tenth Avenue, based on the remaining contractual lease payments less estimated sublease rentals, discounted to present value using a credit-adjusted risk-free rate. The Company recorded a net non-cash charge of approximately $ 648 15,000 7,000 670,000 The remaining balance of the exit cost liability related to the former office space was approximately $ 940,000 229,000 711,000 ($ in thousands) Balance as of January 1, 2016 $ - Non-cash costs incurred and charged to expense 648 Transfers of previously-recognized deferred balance sheet amounts related to lease 333 Cash payments (41) Balance as of June 30, 2016 $ 940

Trademarks, Goodwill and Othe16

Trademarks, Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	Trademarks and other intangibles, net consist of the following: June 30, 2016 ($ in thousands) Weighted- Gross Carrying Accumulated Net Carrying Trademarks (indefinite-lived) n/a $ 96,676 $ - $ 96,676 Trademarks (definite-lived) 15 years 15,437 943 14,494 Licensing agreements 4 years 2,000 2,000 - Non-compete agreement 7 years 562 120 442 Copyrights and other intellectual property 10 years 190 43 147 Total $ 114,865 $ 3,106 $ 111,759 December 31, 2015 ($ in thousands) Weighted- Gross Carrying Accumulated Net Carrying Trademarks (indefinite-lived) n/a $ 96,676 $ - $ 96,676 Trademarks (definite-lived) 15 years 15,437 429 15,008 Licensing agreements 4 years 2,000 2,000 - Non-compete agreement 7 years 562 80 482 Copyrights and other intellectual property 10 years 190 33 157 Total $ 114,865 $ 2,542 $ 112,323

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule of Debt [Table Text Block]	The Company’s net carrying amount of debt is comprised of the following: ($ in thousands) June 30, December 31, Xcel Term Loan $ 27,000 $ - IM Term Loan - 11,375 JR Term Loan - 7,875 H Term Loan - 10,000 Unamortized deferred finance costs related to term loans (527) (493) IM Seller Note 4,308 4,918 Ripka Seller Notes 486 469 Contingent obligation - IM Seller - 250 Contingent obligation - JR Seller 3,784 3,784 Contingent obligation - CW Seller 2,850 2,850 Total 37,901 41,028 Current portion (i) 8,058 9,168 Long-term debt $ 29,843 $ 31,860 (i) The current portion of long-term debt as of June 30, 2016 consists of (a) $ 3.750 4.308
Schedule of Maturities of Long-term Debt [Table Text Block]	($ in thousands) Amount of Principal Year Ending December 31, Payment 2016 (July 1 through December 31) $ 1,750 2017 4,000 2018 4,000 2019 4,000 2020 4,000 2021 9,250 Total $ 27,000

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]	The fair values of the options granted during the Current Six Months were estimated at the date of grant using the Black-Scholes option pricing model with the following assumptions: Expected Volatility 33.25 – 33.88 % Expected Dividend Yield 0 % Expected Life (Term) 3.25 – 5.32 years Risk-Free Interest Rate 0.91 – 1.21 %
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the Company’s stock options activity for the Current Six Months is as follows: Number of Weighted Weighted Aggregate Outstanding at January 1, 2016 379,500 $ 5.50 1.71 $ 1,174,000 Granted 2,421,500 6.13 Canceled - - Exercised (10,000) (3.10) Expired/Forfeited (18,500) (4.82) Outstanding at June 30, 2016, and expected to vest 2,772,500 $ 6.06 4.58 $ - Exercisable at June 30, 2016 340,500 $ 5.45 1.01 $ -
Schedule of Nonvested Share Activity [Table Text Block]	The following table summarizes the Company’s stock option activity for non-vested options for the Current Six Months: Number of Weighted Balance at January 1, 2016 47,500 $ 1.43 Granted 2,421,500 1.45 Vested (25,000) 1.41 Forfeited or Canceled (12,000) 1.49 Balance at June 30, 2016 2,432,000 $ 1.45
Schedule of Share-based Compensation, Stock Warrant Activity [Table Text Block]	A summary of the Company’s warrants activity for the Current Six Months is as follows: Number of Weighted Weighted Aggregate Outstanding and exercisable at January 1, 2016 2,219,543 $ 6.07 3.23 $ 3,168,000 Granted - - Canceled - - Exercised (26,000) (0.01) Expired/Forfeited - - Outstanding and exercisable at June 30, 2016 2,193,543 $ 6.14 2.77 $ -
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	A summary of the Company’s restricted stock activity for the Current Six Months is as follows: Number of Weighted Outstanding at January 1, 2016 3,530,485 $ 4.95 Granted 265,243 5.80 Canceled - - Vested (189,900) 5.05 Expired/Forfeited (11,275) 8.63 Outstanding at June 30, 2016 3,594,553 $ 5.00

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Shares used in calculating basic and diluted income (loss) per share are as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Basic 18,671,648 14,850,874 18,565,198 14,462,305 Effect of exercise of warrants - 971,873 - 971,873 Effect of exercise of stock options - 141,228 - 141,228 Diluted 18,671,648 15,963,975 18,565,198 15,575,406
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The computation of diluted EPS excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive: Three Months Ended Six Months Ended 2016 2015 2016 2015 Stock options and warrants 4,966,043 750,000 4,966,043 750,000

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Discontinued operations represent the net sales and expenses related to the Company’s retail operations, which were discontinued in December 2014. A summary of the results of discontinued operations for the Current Quarter, Prior Year Quarter, Current Six Months, and Prior Year Six Months is as follows (in thousands, except share and per share data): Three Months Ended Six Months Ended 2016 2015 2016 2015 Net sales $ - $ 181 $ - $ 287 Cost of sales - (101) - (221) Operating expenses - (91) - (266) Loss from disposal of discontinued operations - (77) - (241) Income tax benefit - 34 - 174 Loss from discontinued operations, net $ - $ (54) $ - $ (267) Loss per share from discontinued operations, net: Basic $ - $ (0.01) $ - $ (0.02) Diluted $ - $ (0.01) $ - $ (0.02) Weighted average shares outstanding: Basic 18,671,648 14,850,874 18,565,198 14,462,305 Diluted 18,671,648 15,963,975 18,565,198 15,575,406

Facility Exit Costs (Tables)

Facility Exit Costs (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	A summary of the activity related to the exit cost liability for the Current Six Months is as follows: ($ in thousands) Balance as of January 1, 2016 $ - Non-cash costs incurred and charged to expense 648 Transfers of previously-recognized deferred balance sheet amounts related to lease 333 Cash payments (41) Balance as of June 30, 2016 $ 940

Trademarks, Goodwill and Othe22

Trademarks, Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Trademarks Goodwill and Other Intangibles [Line Items]
Gross Carrying Amount	$ 114,865	$ 114,865
Accumulated Amortization	3,106	2,542
Net Carrying Amount	$ 111,759	$ 112,323
Trademarks [Member]
Trademarks Goodwill and Other Intangibles [Line Items]
Weighted - Average Amortization Period	15 years	15 years
Gross Carrying Amount (indefinite-lived)	$ 96,676	$ 96,676
Gross Carrying Amount (definite-lived)	15,437	15,437
Accumulated Amortization	943	429
Net Carrying Amount	$ 14,494	$ 15,008
Licensing Agreements [Member]
Trademarks Goodwill and Other Intangibles [Line Items]
Weighted - Average Amortization Period	4 years	4 years
Gross Carrying Amount (definite-lived)	$ 2,000	$ 2,000
Accumulated Amortization	2,000	2,000
Net Carrying Amount	$ 0	$ 0
Non-compete Agreement [Member]
Trademarks Goodwill and Other Intangibles [Line Items]
Weighted - Average Amortization Period	7 years	7 years
Gross Carrying Amount (definite-lived)	$ 562	$ 562
Accumulated Amortization	120	80
Net Carrying Amount	$ 442	$ 482
Intellectual Property [Member]
Trademarks Goodwill and Other Intangibles [Line Items]
Weighted - Average Amortization Period	10 years	10 years
Gross Carrying Amount (definite-lived)	$ 190	$ 190
Accumulated Amortization	43	33
Net Carrying Amount	$ 147	$ 157

Trademarks, Goodwill and Othe23

Trademarks, Goodwill and Other Intangibles (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Trademarks Goodwill and Other Intangibles [Line Items]
Amortization of Intangible Assets	$ 282,000	$ 157,000	$ 564,000	$ 314,000
Goodwill	$ 12,371,000		$ 12,371,000		$ 12,371,000

Significant Contracts (Details

Significant Contracts (Details Textual) - Royalty Agreement With QVC [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Royalty Revenue	$ 7,830	$ 5,740	$ 15,140	$ 11,470
Revenue from Royalty, Percentage	86.00%	91.00%	87.00%	89.00%
Accounts Receivable, Gross	$ 7,330		$ 7,330		$ 6,400
Accounts Receivables, Percentage	73.00%		73.00%		84.00%

Debt (Details)

Debt (Details) - USD ($)		Jun. 30, 2016	Feb. 26, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Net unamortized deferred finance costs related to term loans		$ (527,000)		$ (493,000)
Total Debt		37,901,000		41,028,000
Current portion	[1]	8,058,000		9,168,000
Total long term debt		29,843,000		31,860,000
IM Term Loan [Member]
Debt Instrument [Line Items]
Seller Note		4,308,000		4,918,000
Contingent obligation - due to seller		0		250,000
Total Debt		0		11,375,000
JR Term Loan [Member]
Debt Instrument [Line Items]
Contingent obligation - due to seller		3,784,000		3,784,000
Total Debt		0		7,875,000
H Term Loan [Member]
Debt Instrument [Line Items]
Total Debt		0		10,000,000
CW Term Loan [Member]
Debt Instrument [Line Items]
Contingent obligation - due to seller		2,850,000		2,850,000
Xcel Term Loan [Member]
Debt Instrument [Line Items]
Net unamortized deferred finance costs related to term loans			$ (466,000)
Total Debt		27,000,000		0
Ripka Seller Notes [Member]
Debt Instrument [Line Items]
Seller Note		$ 486,000		$ 469,000
[1]	The current portion of long-term debt as of June 30, 2016 consists of (a) $3.750 million related to the Xcel Term Loan and (b) $4.308 million related to the IM Seller Note, which is payable in stock or cash at the Company’s discretion.

Debt (Details 1)

Debt (Details 1) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total	$ 37,901	$ 41,028
Xcel Term Loan [Member]
Debt Instrument [Line Items]
2016 (July 1 through December 31)	1,750
2,017	4,000
2,018	4,000
2,019	4,000
2,020	4,000
2,021	9,250
Total	$ 27,000	$ 0

Debt (Details Textual)

Debt (Details Textual)	1 Months Ended					3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 26, 2016USD ($)	Jan. 31, 2016USD ($)	Apr. 21, 2015USD ($)shares	Feb. 20, 2015USD ($)shares	Sep. 29, 2011USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2015$ / shares	Sep. 30, 2015USD ($)shares	Dec. 31, 2015USD ($)	Apr. 03, 2014USD ($)$ / shares
Debt Instrument [Line Items]
Gains (Losses) on Extinguishment of Debt						$ 0	$ (760,000)	$ 0	$ (1,371,000)
Earn Out Payments						2,850,000		2,850,000
Interest Expense, Debt						352,000	309,000	663,000	621,000
Minimum Liquidity Covenants						3,000,000		3,000,000
Long-term Debt, Total						37,901,000		37,901,000						$ 41,028,000
Repayments of Long-term Debt, Total								3,000,000	1,256,000
Long-term Debt, Current Maturities, Total						8,058,000		8,058,000						8,918,000
Deferred Finance Costs, Net						527,000		527,000						493,000
September 30, 2016 [Member]
Debt Instrument [Line Items]
Debt Instrument, Annual Principal Payment						4,377,000		4,377,000
IM Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Total						0		0						11,375,000
Long-term Debt, Current Maturities, Total						4,308,000		4,308,000
Ripka Seller Notes [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Long-term Debt, Total								600,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate															7.33%
Gains (Losses) on Extinguishment of Debt									(610,000)
Debt Instrument, Face Amount															$ 6,000,000
Debt Instrument, Unamortized Discount															$ 1,835,000
Imputed Annual Interest Rate															7.33%
Initial Outstanding Value of Long-term Debt or Borrowing															$ 4,165,000
Interest Expense, Debt						9,000	9,000	17,000	88,000
Long-term Debt, Total			$ 2,240,000
Floor Price Per Share for Conversion of Debt | $ / shares															$ 7
Repayments of Long-term Debt, Total			3,000,000	$ 3,000,000
Debt Conversion, Original Debt, Amount			$ 3,000,000	2,400,000
Debt Instrument, Periodic Payment				$ 75,000
Debt Conversion, Converted Instrument, Shares Issued | shares			333,334	266,667
Prepayment Of Long Term Debt Fair Value				$ 2,400,000		$ 1,790,000		$ 1,790,000
Ripka Seller Notes [Member] | Period Two [Member]
Debt Instrument [Line Items]
Gains (Losses) on Extinguishment of Debt							760,000		760,000
Xcel Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Contingent Payment of Principal or Interest								Company shall pay an early termination fee as follows: an amount equal to the principal amount outstanding under the Term Loan on the date of prepayment, multiplied by: (i) two percent (2.00%) if the Xcel Term Loan is prepaid on or after the closing date and on or before the second anniversary of the closing date; and (ii) one percent (1.00%) if the Xcel Term Loan is prepaid after the second anniversary of the closing date and on or before the third anniversary of the closing date.
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate						5.10%		5.10%
Minimum Fixed Charge Ratio, Start Range						1.20		1.20
Minimum Fixed Charge Ratio, End Range						1		1
Minimum Liquidity Covenants						$ 5,000,000		$ 5,000,000
Minimum Net Worth Required for Compliance						90,000,000		90,000,000
Long-term Debt, Total						27,000,000		27,000,000						0
Long-term Debt, Current Maturities, Total						3,750,000		3,750,000
Debt Instrument, Periodic Payment, Principal	$ 27,875,000
Payments for Fees	116,000							116,000
Deferred Finance Costs, Net	$ 466,000
Xcel Term Loan [Member] | Scenario, Forecast [Member]
Debt Instrument [Line Items]
Maximum Capital Expenditures of Guarantor and its Subsidiaries										$ 700,000	$ 2,650,000
Minimum Earnings Before Interest Taxes Depreciation And Amortization										$ 9,000,000	$ 9,500,000
QVC Earn-Out [Member]
Debt Instrument [Line Items]
Exercise Price of Common Stock | $ / shares												$ 4.50
Royalty Revenue, Total													$ 2,500,000
Loans Payable [Member]
Debt Instrument [Line Items]
Long-term Debt, Current Maturities, Total						4,000,000		4,000,000
IM Ready Made LLC [Member]
Debt Instrument [Line Items]
Repayment Of Contingent Obligation		$ 250,000
Earn-Out Obligation													$ 2,510,000
Stock Issued During Period, Shares, New Issues | shares													290,473
QVC Inc [Member]
Debt Instrument [Line Items]
Business Acquisitions, Net Royalty Income						2,760,000		2,760,000
Royalty Revenue, Total													$ 2,500,000
Ripka Earn-Out [Member]
Debt Instrument [Line Items]
Royalty Earn Out Value								5,000,000
Earn Out Payments						6,630,000		6,630,000						$ 6,880,000
Royalty Revenue, Total								1,000,000
Long-term Debt, Total						$ 3,780,000		$ 3,780,000
Floor Price Per Share for Conversion of Debt | $ / shares						$ 7		$ 7
IM Seller Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 7,377,000
Stated Interest Rate on Note Payable					0.25%
Subordinated Borrowing, Interest Rate					9.25%
Debt Instrument, Unamortized Discount					$ 1,740,000
Unamortization of Debt Discount (Premium)						$ 69,000	73,000	$ 140,000	149,000
Imputed Annual Interest Rate					9.00%
Initial Outstanding Value of Long-term Debt or Borrowing					$ 5,637,000
Initial Prepaid Interest					$ 123,000
Exercise Price of Common Stock | $ / shares					$ 4.50
Interest Expense, Debt						$ 69,000	$ 78,000	140,000	$ 158,000
Ms. Ripka Seller Note One [Member] | Ripka Seller Notes [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Long-term Debt, Total				2,400,000
Proceeds from (Repayments of) Other Long-term Debt				2,400,000				$ 2,400,000
Ms. Ripka Seller Note Two [Member] | Ripka Seller Notes [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Long-term Debt, Total				$ 600,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Equity Option [Member]	6 Months Ended
	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Volatility Rate, Minimum	33.25%
Expected Volatility Rate, Maximum	33.88%
Expected Dividend Yield	0.00%
Risk-Free Interest Rate, Minimum	0.91%
Risk-Free Interest Rate, Maximum	1.21%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Life (Term)	3 years 3 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Life (Term)	5 years 3 months 25 days

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding, Beginning Balance	379,500
Number of Options, Granted	2,421,500
Number of Options, Canceled	0
Number of Options, Exercised	(10,000)
Number of Options, Expired/Forfeited	(18,500)
Number of Options, Outstanding, Ending Balance	2,772,500	379,500
Number of Options, Exercisable at June 30, 2016	340,500
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 5.5
Weighted-Average Exercise Price, Granted	6.13
Weighted-Average Exercise Price Canceled	0
Weighted-Average Exercise Price, Exercised	(3.10)
Weighted-Average Exercise Price, Expired/Forfeited	(4.82)
Weighted Average Exercise Price, Outstanding, Ending Balance	6.06	$ 5.5
Weighted-Average Exercise Price, Exercisable at June 30, 2016	$ 5.45
Weighted Average Remaining Contractual Life (in years)	4 years 6 months 29 days	1 year 8 months 16 days
Exercisable Weighted Average Remaining Contractual Life (in years)	1 year 4 days
Aggregate Intrinsic Value, Outstanding	$ 0	$ 1,174,000
Aggregate Intrinsic Value, Exercisable	$ 0

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Number of Options
Number of Options, Granted	2,421,500
Employee Stock Option [Member]
Number of Options
Number of Options, Balance at January 1, 2016	47,500
Number of Options, Granted	2,421,500
Number of Options, Vested	(25,000)
Number of Options, Forfeited or Canceled	(12,000)
Number of Options, Balance at June 30, 2016	2,432,000
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Balance at January 1, 2015 | $ / shares	$ 1.43
Weighted Average Grant Date Fair Value, Granted | $ / shares	1.45
Weighted Average Grant Date Fair Value, Vested | $ / shares	1.41
Weighted Average Grant Date Fair Value, Forfeited or Canceled | $ / shares	1.49
Weighted Average Grant Date Fair Value, Balance at June 30, 2016 | $ / shares	$ 1.45

Stockholders' Equity (Details 3

Stockholders' Equity (Details 3) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Outstanding, Beginning Balance	2,219,543
Number of Warrants, Granted	0
Number of Warrants, Canceled	0
Number of Warrants, Exercised	(26,000)
Number of Warrants, Expired/Forfeited	0
Number of Warrants, Outstanding, Ending Balance	2,193,543	2,219,543
Weighted-Average Exercise Price, Outstanding, Beginning Balance	$ 6.07
Weighted-Average Exercise Price, Granted	0
Weighted-Average Exercise Price, Canceled	0
Weighted-Average Exercise Price, Exercised	(0.01)
Weighted-Average Exercise Price, Expired/Forfeited	0
Weighted-Average Exercise Price, Outstanding, Ending Balance	$ 6.14	$ 6.07
Weighted Average Remaining Contractual Life (in Years)	2 years 9 months 7 days	3 years 2 months 23 days
Aggregate Intrinsic Value, Outstanding	$ 0	$ 3,168,000

Stockholders' Equity (Details 4

Stockholders' Equity (Details 4) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Outstanding at January 1, 2016 | shares	3,530,485
Number of Restricted Shares, Granted | shares	265,243
Number of Restricted Shares, Canceled | shares	0
Number of Restricted Shares, Vested | shares	(189,900)
Number of Restricted Shares, Expired/Forfeited | shares	(11,275)
Number of Restricted Shares, Outstanding at June 30, 2016 | shares	3,594,553
Weighted-Average Exercise Price, Outstanding at January 1, 2016 | $ / shares	$ 4.95
Weighted-Average Grant Date Fair Value, Granted | $ / shares	5.8
Weighted-Average Grant Date Fair Value, Canceled | $ / shares	0
Weighted-Average Grant Date Fair Value, Vested | $ / shares	5.05
Weighted-Average Grant Date Fair Value, Expired/Forfeited | $ / shares	8.63
Weighted-Average Exercise Price, Outstanding at June 30, 2016 | $ / shares	$ 5

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	Mar. 01, 2016	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross					2,421,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price					$ 6.13
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense			$ 329,000	$ 16,000	$ 349,000	$ 33,000
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross	100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 7
Non Management Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross		150,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 5.80
Non Management Directors [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
Executives, Non-Executive Management And Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross		1,671,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 5.80
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross		500,000
Key Employees [Member] | Exercise Price One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross		100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 5.80
Key Employees [Member] | Exercise Price Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross		400,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 7.50
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			3,183,000		$ 3,183,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					3 years 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		17,242
Allocated Share-based Compensation Expense			1,124,000	$ 1,092,000	$ 2,316,000	$ 2,088,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 3,629,000		$ 3,629,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					1 year 7 months 20 days
Restricted Stock [Member] | Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		50,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Restricted Stock [Member] | Management [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] | Management [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] | Management [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] | Management [Member] | Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] | Non Management Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		48,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Restricted Stock [Member] | Non Management Directors [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
Restricted Stock [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		150,001
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			590,663		590,663
Common Stock, Capital Shares Reserved for Future Issuance			5,556,706		5,556,706
Common Stock, Eligible for Issuance			8,000,000		8,000,000

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share Basic And Diluted [Line Items]
Basic	18,671,648	14,850,874	18,565,198	14,462,305
Diluted	18,671,648	15,963,975	18,565,198	15,575,406
Employee Stock Option [Member]
Earnings Per Share Basic And Diluted [Line Items]
Effect of exercise of stock options and warrants	0	141,228	0	141,228
Warrant [Member]
Earnings Per Share Basic And Diluted [Line Items]
Effect of exercise of stock options and warrants	0	971,873	0	971,873

Earnings Per Share (Details1)

Earnings Per Share (Details1) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Employee Stock Option [Member] | Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options and warrants	4,966,043	750,000	4,966,043	750,000

Income Tax (Details Textual)

Income Tax (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Line Items]
Gain On Reduction Of Contingent Obligations	$ 3,000		$ 3,000
Effective Income Tax Rate, Continuing Operations	70.00%	4.00%	66.00%	(1.00%)
Income Tax Expense (Benefit)	$ 208	$ (90)	$ 259	$ 16
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	29.00%	37.00%	25.00%	42.00%

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 0	$ 181	$ 0	$ 287
Cost of sales	0	(101)	0	(221)
Operating expenses	0	(91)	0	(266)
Loss from disposal of discontinued operations	0	(77)	0	(241)
Income tax benefit	0	34	0	174
Loss from discontinued operations, net	$ 0	$ (54)	$ 0	$ (267)
Loss per share from discontinued operations, net:
Basic (in dollars per share)	$ 0	$ (0.01)	$ 0	$ (0.02)
Diluted (in dollars per share)	$ 0	$ (0.01)	$ 0	$ (0.02)
Weighted average shares outstanding:
Basic (in shares)	18,671,648	14,850,874	18,565,198	14,462,305
Diluted (in shares)	18,671,648	15,963,975	18,565,198	15,575,406

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2015	Dec. 22, 2014	Jul. 31, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Sep. 01, 2015
Related Party Transaction [Line Items]
Royalty Expense				$ 28,000		$ 62,000
Licensing Agreements [Member]
Related Party Transaction [Line Items]
Operating Leases, Future Minimum Payments Receivable, in Two Years									$ 250,000
Operating Leases, Future Minimum Payments Receivable, in Three Years									750,000
Operating Leases, Future Minimum Payments Receivable, in Four Years									750,000
Operating Leases, Future Minimum Payments Receivable, in Five Years									1,500,000
Operating Leases, Future Minimum Payments Receivable, Thereafter									$ 1,750,000
License Expiration Date		Dec. 31, 2019
Percentage of Royalties						50.00%
Todd Slater [Member]
Related Party Transaction [Line Items]
Fees Earned Separate from Buy Out Payment					$ 8,000		$ 16,000
Related Party Transaction, Amounts of Transaction			$ 163,000
Adam Dweck [Member]
Related Party Transaction [Line Items]
Fees Earned Separate from Buy Out Payment				$ 1,000	7,000	$ 2,000	14,000
Jones Texas, Inc [Member]
Related Party Transaction [Line Items]
Consulting Fees For Period					$ 12,500		$ 12,500	$ 75,000
Professional Fees	$ 62,500
Benjamin Malka [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage		25.00%

Facility Exit Costs (Details)

Facility Exit Costs (Details) - Facility Exit Costs[Member] $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Balance as of January 1, 2016	$ 0
Non-cash costs incurred and charged to expense	648
Transfers of previously-recognized deferred balance sheet amounts related to lease	333
Cash payments	(41)
Balance as of June 30, 2016	$ 940

Facility Exit Costs (Details Te

Facility Exit Costs (Details Textual) - Facility Exit Costs [Member]	6 Months Ended
	Jun. 30, 2016USD ($)
Cash Cost Related To Exit From Former Office	$ 15,000
Restructuring and Related Cost, Incurred Cost	648,000
Gain (Loss) on Disposition of Property Plant Equipment	7,000
Other Selling, General and Administrative Expense	670,000
Restructuring Reserve	940,000
Restructuring Reserve, Current	229,000
Restructuring Reserve, Noncurrent	$ 711,000