Premier Exhibitions (PRXI) 10-Q 15 Oct 15 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Aug. 31, 2015	Oct. 13, 2015
Entity Registrant Name	PREMIER EXHIBITIONS, INC.
Entity Central Index Key	796,764
Trading Symbol	prxi
Current Fiscal Year End Date	--02-28
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		4,917,222
Document Type	10-Q
Document Period End Date	Aug. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Aug. 31, 2015	Feb. 28, 2015
Licensing Agreements [Member]
Current assets:
Exhibition licenses, net of accumulated amortization of $5,293 and $6,069, respectively	$ 1,493,000	$ 1,629,000
Future Rights Fees [Member]
Current assets:
Exhibition licenses, net of accumulated amortization of $5,293 and $6,069, respectively	746,000	829,000
Cash and cash equivalents	1,606,000	4,798,000
Accounts receivable, net of allowance for doubtful accounts of $220	886,000	1,417,000
Merchandise inventory, net of reserve of $45 and $25, respectively	997,000	1,127,000
Income taxes receivable	9,000	49,000
Prepaid expenses	2,963,000	2,684,000
Other current assets	556,000	459,000
Total current assets	7,017,000	10,534,000
Artifacts owned, at cost	2,872,000	2,881,000
Salvor's lien	1,000	1,000
Property and equipment, net of accumulated depreciation of $24,756 and $22,766, respectively	21,096,000	11,503,000
Film, gaming and other application assets, net of accumulated amortization of $2,038 and $1,726, respectively	$ 1,295,000	1,608,000
Deferred financing costs, net of accumulated amortization of $383 and $318, respectively		65,000
Construction deposit		134,000
Lease incentive		5,899,000
Restricted cash	$ 68,000	426,000
Restricted securities	801,000	801,000
Deferred income taxes	60,000	60,000
Long-term exhibition costs	200,000	261,000
Subrogation rights	250,000	250,000
Total Assets	35,899,000	36,881,000
Current liabilities:
Accounts payable and accrued liabilities	$ 5,788,000	4,782,000
Deferred rent		668,000
Deferred revenue	$ 2,014,000	2,901,000
Deferred income taxes	60,000	60,000
Current portion of capital lease obligations	62,000	31,000
Current portion of royalty payable, net of discount of $3 and $48, respectively	294,000	413,000
Current portion of notes payable, net of discount of $3 and $10, respectively	13,696,000	8,190,000
Total current liabilities	21,914,000	17,045,000
Long-Term liabilities:
Lease abandonment	785,000	997,000
Deferred rent	9,048,000	8,867,000
Long-term portion of capital lease obligations	258,000	32,000
Long-term portion of royalty payable, net of discount of $48	207,000	301,000
Total long-term liabilities	$ 10,298,000	$ 10,197,000
Commitment and Contingencies
Shareholders' equity:
Common stock; $.0001 par value; authorized 65,000,000 shares; issued 4,917,423 and 4,916,644 shares, respectively; outstanding 4,917,222 and 4,916,443 shares, respectively	$ 1,000	$ 1,000
Additional paid-in capital	54,157,000	54,104,000
Accumulated deficit	(51,478,000)	(46,105,000)
Accumulated other comprehensive loss	(13,000)	(13,000)
Less treasury stock, at cost; 201 shares	(1,000)	(1,000)
Equity Attributable to Shareholders of Premier Exhibitions, Inc.	2,666,000	7,986,000
Equity Attributable to Non-controlling interest	1,021,000	1,653,000
Total liabilities and shareholders' equity	$ 35,899,000	$ 36,881,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Aug. 31, 2015	Feb. 28, 2015
Licensing Agreements [Member]
Accumulated amortization	$ 5,293	$ 6,069
Future Rights Fees [Member]
Accumulated amortization	3,634	3,551
Allowance for doubtful accounts	220	220
Merchandise inventory reserve	45	25
Property and equipment, accumulated depreciation	24,756	22,766
Film and gaming assets, accumulated amortization	2,038	1,726
Deferred financing costs, amortization	383	318
Royalty payable, discount	3	48
Notes payable, discount	3	10
Royalty payable, discount	$ 48	$ 48
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	65,000,000	65,000,000
Common stock, shares issued (in shares)	4,917,423	4,916,644
Common stock, shares outstanding (in shares)	4,917,222	4,916,443
Treasury stock, shares (in shares)	201	201

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Revenue:
Exhibition revenue	$ 5,489	$ 6,755	$ 11,402	$ 12,763
Merchandise revenue	1,218	1,409	2,490	2,754
Management fee	$ 32	$ 133	66	$ 271
Licensing fee			30
Total revenue	$ 6,739	$ 8,297	13,988	$ 15,788
Cost of revenue:
Exhibition costs	5,283	4,687	10,254	8,508
Cost of merchandise sold	373	583	911	1,169
Total cost of revenue (exclusive of depreciation and amortization shown separately below)	5,656	5,270	11,165	9,677
Gross profit	1,083	3,027	2,823	6,111
Operating expenses:
General and administrative	2,649	3,735	5,515	7,030
Depreciation and amortization	1,483	$ 1,149	2,521	2,300
Gain on disposal of assets	(33)		(33)	(4)
Total operating expenses	4,099	$ 4,884	8,003	9,326
Loss from operations	(3,016)	(1,857)	(5,180)	(3,215)
Interest expense	$ (444)	(21)	(819)	(44)
Other income/(expense)		20	(6)	38
Loss before income taxes	$ (3,460)	$ (1,858)	$ (6,005)	$ (3,221)
Income tax expense
Net loss	$ (3,460)	$ (1,858)	$ (6,005)	$ (3,221)
Less: Net loss attributable to non-controlling interest	364	205	632	356
Net loss attributable to the shareholders of Premier Exhibitions, Inc.	$ (3,096)	$ (1,653)	$ (5,373)	$ (2,865)
Net loss per share:
Basic loss per common share (in dollars per share)	$ (0.63)	$ (0.34)	$ (1.09)	$ (0.58)
Diluted loss per common share (in dollars per share)	$ (0.63)	$ (0.34)	$ (1.09)	$ (0.58)
Shares used in basic per share calculations (in shares)	4,917,222	4,907,343	4,917,154	4,906,892
Shares used in diluted per share calculations (in shares)	4,917,222	4,907,343	4,917,154	4,906,892
Comprehensive loss	$ (3,096)	$ (1,653)	$ (5,373)	$ (2,865)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Cash flows from operating activities:
Net loss	$ (6,005)	$ (3,221)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Depreciation and amortization	2,521	2,300
Lease abandonment	(212)	(231)
Gain on disposal of assets	(33)	(4)
Stock-based compensation	$ 53	218
Allowance for doubtful accounts		$ 16
Amortization of deferred financing costs	$ 65
Write-off of deferred financing costs		$ 100
Write-off of assets	$ 16
Amortization of debt discount	51	$ 41
Changes in operating assets and liabilities:
Decrease in accounts receivable	437	263
Decrease in merchandise inventory, net of reserve	130	54
Increase in prepaid expenses	(381)	(202)
Increase in other current assets	(97)	(64)
Decrease in income taxes receivable	$ 40	207
Increase in other receivables		(16)
(Increase)/decrease in restricted cash	$ 358	(149)
Decrease in long-term development costs	147	23
Increase in accounts payable and accrued liabilities	1,006	1,618
Increase/(decrease) in deferred rent	(487)	538
Increase/(decrease) in deferred revenue	(887)	285
Total adjustments	2,727	4,997
Net cash provided by/(used in) operating activities	(3,278)	1,776
Cash flows from investing activities:
Purchases of property and equipment	(5,259)	(393)
Proceeds from disposal of assets	$ 33	4
Purchase of restricted certificate of deposit		(800)
Redemption of certificates of deposit		201
Decrease in artifacts	$ 9	11
Net cash used in investing activities	(5,217)	$ (977)
Cash flows from financing activities:
Proceeds from short-term notes payable	5,500
Payments on capital lease obligations	$ (33)	$ (17)
Deferred financing costs		$ (100)
Payments on royalty payable	$ (164)
Payments on notes payable		$ (220)
Net cash provided by/(used in) financing activities	$ 5,303	$ (337)
Effects of exchange rate changes on cash and cash equivalents
Net increase/(decrease) in cash and cash equivalents	$ (3,192)	$ 462
Cash and cash equivalents at beginning of period	4,798	3,434
Cash and cash equivalents at end of period	1,606	3,896
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	583	11
Cash received during the period for taxes	40	$ 208
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment under capital leases	290
Non-cash refinancing of notes payable	$ 8,000
Net assets recognized from execution of royalty agreement		$ 31
Non-cash payment on royalty payable	$ 94
Non-cash purchase of property and equipment using lease incentive and construction deposit	$ 6,033

Note 1 - Background and Basis o

Note 1 - Background and Basis of Presentation	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Background and Basis of Presentation Description of Business Premier Exhibitions, Inc. and subsidiaries (the “Company” or “Premier”) are in the business of presenting to the public museum-quality touring exhibitions around the world. Since our establishment, we have developed, deployed, and operated unique exhibition products that are presented to the public in exhibition centers, museums, and non-traditional venues. Income from exhibitions is generated primarily through ticket sales, third-party licensing, sponsorships and merchandise sales. Titanic Ventures Limited Partnership (“TVLP”), a Connecticut limited partnership, was formed in 1987 for the purposes of exploring the wreck of the R.M.S. Titanic and its surrounding oceanic areas. In May of 1993, RMS Titanic, Inc. (“RMST”) entered into a reverse merger under which RMST acquired all of the assets and assumed all of the liabilities of TVLP and TVLP became a shareholder of RMST. In October of 2004, we reorganized and Premier Exhibitions, Inc. became the parent company of RMST and RMST became a wholly-owned subsidiary. Additional wholly-owned subsidiaries were established in order to operate the various domestic and international exhibitions of the Company. Our exhibitions regularly tour outside the United States of America (“U.S.”). Approximately 8% of our revenues for the three months ended August 31, 2015 compared with 13% for the three months ended August 31, 2014 resulted from exhibition activities outside the U.S. Approximately 8% of our revenues for the six months ended August 31, 2015 compared with 12% for the six months ended August 31, 2014 resulted from exhibition activities outside the U.S. Many of our financial arrangements with our international trade partners are based upon the U.S. dollar which limits the Company’s exposure to the risk of currency fluctuations between the U.S. dollar and the currencies of the countries in which our exhibitions are touring. Corporate Structure Our business has been divided into an exhibition management division and a content division. The content division is the Company’s existing subsidiary, RMST, which holds all of the Company’s rights with respect to the Titanic assets and is the salvor-in-possession of the Titanic wreck site. These assets include title to all of the recovered artifacts in the Company’s possession, in addition to all of the intellectual property (data, video, photos, maps, etc.) related to the recovery of the artifacts and scientific study of the ship. We also formed a new entity, Premier Exhibition Management LLC (“PEM”), in September 2011, to manage all of the Company’s exhibition management (exhibition division). This currently includes the operation and management of our “Bodies,” “Titanic” (pursuant to an intercompany agreement with RMST), “Real Pirates,” “The Discovery of King Tut,” and “Saturday Night Live,” exhibitions. PEM also pursues “fee for service” arrangements to manage exhibitions based on content owned or controlled by third parties. On April 20, 2012, PEM and its wholly-owned subsidiary, PEM Newco, LLC (“Newco”), both subsidiaries of the Company, entered into a purchase agreement with AEG Live LLC, AEG Exhibitions LLC, and Arts and Exhibitions International, LLC pursuant to which Newco purchased substantially all of the assets of Arts and Exhibitions International, LLC (“AEI”). The assets purchased include the rights and tangible assets relating to four touring exhibitions known as “King Tut II,” “Cleopatra,” “America I Am” and “Real Pirates.” Of these four exhibitions, the Company is currently touring only “Real Pirates”. The acquired assets include rights agreements with the owners of the artifacts and intellectual property comprising the exhibitions, museum/venue agreements for existing exhibition venues, sponsorship agreements, a warehouse lease and an office lease. In addition, the acquired assets include intellectual property related to proposed future exhibitions that the Company may further develop and produce, including the exhibit “One Day in Pompeii”, which was being toured by the Company during the first quarter of fiscal 2016. On July 12, 2012, the Company purchased substantially all of the assets of Exhibit Merchandising, LLC for $125 thousand. As part of the acquisition of the assets of Exhibit Merchandising, LLC, we obtained the rights to sell all merchandise related to “Tutankhamun and the Golden Age of the Pharaohs”, “Cleopatra: The Exhibition” and “Real Pirates”. These merchandising rights are operated under our Premier Merchandising, LLC subsidiary. The restructuring of the Company and changes in its management, reflect that Premier has two operating segments – Exhibition Management (PEM) and Content Management (RMST). Basis of Presentation When we use the terms “Premier,” “Company,” “we,” “us” and “our,” we mean Premier Exhibitions, Inc., a Florida corporation, and its subsidiaries. We have prepared the accompanying unaudited condensed consolidated financial statements and unaudited notes to condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States (“U.S. GAAP”) regarding interim financial reporting. Accordingly, they do not contain all of the information and notes required by U.S. GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for our fiscal year ended February 28, 2015. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring adjustments) considered necessary for a fair presentation of our financial condition as of August 31, 2015, our results of operations for the three and six months ended August 31, 2015 and 2014 and cash flows for the six months ended August 31, 2015 and 2014. The data in the consolidated balance sheet as of February 28, 2015 was derived from our audited consolidated balance sheet as of February 28, 2015, as presented in our Annual Report on Form 10-K for our fiscal year ended February 28, 2015. The unaudited condensed consolidated financial statements include the accounts of Premier and its subsidiaries after the elimination of all significant intercompany accounts and transactions. Our operating results for the three and six months ended August 31, 2015 are not necessarily indicative of the operating results that may be expected for the full fiscal year ending February 28, 2016 (“fiscal 2016”). Significant Accounting Policies For a description of significant accounting policies, see the Summary of Significant Accounting Policies footnote to the Financial Statements included in the Company’s 2015 Annual Report on Form 10-K. There have been no material changes to the Company’s significant accounting policies since the filing of the Company’s 2015 Annual Report on Form 10-K. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from reported results using those estimates. Recent Accounting Pronouncements Recently Issued Revenue from Contracts with Customers Update 2014-09 (ASU 2014-09) In May of 2014, FASB issued Accounting Standards Update No. 2014-09 that affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015 ASU No. 2015-14 was issued and delays implementation as noted below. The new standard will replace most of the existing revenue recognition standards in U.S. GAAP when it becomes effective for periods beginning after December 15, 2017. Early adoption is permitted for periods beginning after December 15, 2016. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is currently evaluating the impact of this accounting pronouncement on our consolidated financial statements. Preparation of Financial Statements - Going Concern Update 2014-15 (ASU 2014-15) In August 2014, FASB issued Accounting Standards Update No. 2014-15, “Preparation of Financial Statements - Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” Under U.S. GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, “Presentation of Financial Statements - Liquidation Basis of Accounting.” Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the impact of this accounting pronouncement on our consolidated financial statements.

Note 2 - Loss Per Share Data

Note 2 - Loss Per Share Data	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	2. Loss Per Share Data Basic per share amounts exclude dilution and are computed using the weighted average number of common shares outstanding for the period. Diluted per share amounts reflect the potential reduction in earnings per share that could occur if equity based awards were exercised or converted into common stock, unless the effects are anti-dilutive (i.e The following table sets forth the computation of basic and diluted net loss per share. Three Months Ended August 31, Six Months Ended August 31, 2015 2014 2015 2014 Numerator: Net loss attributable to shareholders (in thousands) $ (3,096 ) $ (1,653 ) $ (5,373 ) $ (2,865 ) Denominator: Basic weighted-average shares outstanding 4,917,222 4,907,343 4,917,154 4,906,892 Effect of dilutive stock options and warrants - - - - Diluted weighted-average shares outstanding 4,917,222 4,907,343 4,917,154 4,906,892 Net loss per share: Basic $ (0.63 ) $ (0.34 ) $ (1.09 ) $ (0.58 ) Diluted $ (0.63 ) $ (0.34 ) $ (1.09 ) $ (0.58 ) Equity based awards are not included in the per share computation because the option exercise price was greater than the average market price of the common share. The number of shares excluded for the three and six months ended August 31, 2015 and 2014 was 91,167.

Note 3 - Notes Payable, Royalty

Note 3 - Notes Payable, Royalty Payable, and Capital Lease Obligations	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 3. Notes Payable, Royalty Payable, and Capital Lease Obligations Notes Payable On October 17, 2011, the Company entered into an asset purchase agreement (the “Agreement”) to purchase the assets of a Titanic-themed exhibition ( Titanic: The Experience or “TTE” As of August 31, 2015, the short-term portion of the note payable was $196 thousand and relates to rental and other arrearages payable on behalf of Worldwide. The final payment on this note payable is due in December 2015. On September 30, 2014, Premier Exhibitions, Inc. entered into a Secured Promissory Note and Guarantee with each of two affiliates of Pentwater Capital Management LP. Together the Notes provided for a loan to the Company in the aggregate amount of $8.0 million. The Notes provided for the payment by the Company of interest on a monthly basis at the rate of 12.0% per annum, and the Notes matured on March 31, 2015. The Notes required the Company to pay a closing fee to the Pentwater affiliates in the aggregate amount of 3% of the loan amount and the fees and expenses incurred by the Pentwater affiliates in connection with the negotiation and execution of the Notes. Deferred financing cost related to this loan totaled $383 thousand and were fully amortized during the first fiscal quarter of 2016. The Notes were guaranteed by each of RMST, PEM, Arts and Exhibitions International LLC, and Premier Merchandising, LLC, all of which are subsidiaries of the Company. The Notes were secured by substantially all of the assets of the Company and the subsidiary guarantors, including the stock of each of the subsidiary guarantors. The security interest did not apply to the Titanic assets held by RMST, but applied to all revenues, contracts and agreements lawfully arising out of the Titanic assets. The lenders’ exercise of rights and remedies with respect to the stock of RMST and any revenues, contracts and agreements lawfully arising out of the Titanic assets were expressly governed by and subject to the terms and conditions of the applicable court orders governing the ownership of the Titanic assets by RMST, which included (i) the Opinion issued by the United States District Court for the Eastern District of Virginia with respect to Action No. 2:93cv902, dated as of August 12, 2010; (ii) the Order issued by the United State District Court for the Eastern District of Virginia with respect to Action No. 2:93cv902, dated as of August 15, 2011; (iii) the Revised Covenants and Conditions for the Future Disposition of Objects Recovered from the R.M.S. Titanic by RMST pursuant to an in-specie On April 2, 2015, the Company announced that it had entered into a definitive merger agreement (the “Merger Agreement”) whereby it will combine with Dinoking Tech Inc. (“DK”). In addition, on April 2, 2015, an investor group agreed to provide up to $13.5 million in convertible debt funding to Premier to repay $8 million of existing debt and $5.5 million for corporate purposes, including the completion of the development of “Saturday Night Live: The Exhibition” and “Premier Exhibitions 5 th Royalty Payable On April 20, 2012, PEM and PEM Newco, LLC, both subsidiaries of the Company, entered into a purchase agreement with AEG Live LLC, AEG Exhibitions LLC, and Arts and Exhibitions International, LLC pursuant to which Newco purchased substantially all of the assets of AEI. The assets purchased include the rights and tangible assets relating to four touring exhibitions known as “King Tut II,” “Cleopatra,” “America I Am” and “Real Pirates.” Of these four exhibitions, the Company is currently touring only “Real Pirates”. The Company issued a non-recourse non-interest bearing note as part of this transaction. The book value of the note was recorded based upon the expected future cash flows of the exhibitions and discounted to its net present value at an imputed interest rate of 7.0%. In March 2014, the Company paid $300 thousand and purchased the tangible assets that were required to be returned to AEG Live, LLC at the end of the purchase agreement. On April 17, 2014, PEM and AEG terminated the Promissory Note. As part of the termination of the Promissory Note, PEM and AEG entered into a revenue payment agreement (the “Revenue Payment Agreement”) providing for modified future payments to AEG with respect to bookings of acquired exhibitions. Pursuant to the Revenue Payment Agreement, going forward PEM will make royalty payments to AEG equal to (a) 90% of net revenues from future bookings and (b) 20% of the net revenues from proposed exhibitions acquired from AEG that are ultimately developed and presented. “Net Revenues” are determined after deduction by PEM of the direct expenses of operating the exhibitions. Pursuant to the Revenue Payment Agreement, AEG will pay to PEM a management fee of 10% of gross revenues (after deducting any booking fees) for each calendar year thereafter; provided that the management fee shall not be less than the following minimum fees: $500,000 in calendar year 2014; and $125,000 in calendar years 2015 and 2016. We considered the accounting guidance in ASC 805, 405, and 470 when evaluating the accounting for the note cancellation and execution of the revenue payment agreement. We note that there was no substantive modification of the obligations under the Note that were made in connection with the cancellation of the Note and the execution of the revenue payment agreement. Accordingly, we do not believe the note was settled and therefore the royalty obligation will continue to be remeasured each period until it is ultimately settled. Beginning in the first fiscal quarter of 2015, revenues, expenses, assets, and liabilities related to these exhibitions are recorded on a gross reporting basis in the Company’s consolidated financial statements since we are now the primary obligor under these agreements, are fulfilling the customer agreements with assets that the Company has all rights and title to, rather than acting in a management capacity as it was prior to the amendment, have latitude to determine pricing and retain future profits from the arrangement with customers, and retain the credit risk with customers. The majority of the assets and liabilities added as a result of this are restricted cash and deferred revenue. During the fourth quarter of fiscal 2015, the Company, using Level 3 inputs based upon FASB ASC 820, updated the expected future cash flows of the exhibitions and discounted the cash flows at 12.0% to estimate the future payment to AEG Live, LLC based upon the revenue payment agreement. As a result of this review, the royalty payable was reduced by $338 thousand to reflect the updated estimated future payments under the revenue payment agreement. The significant unobservable inputs used in the fair value measurement are forecasts of expected future annual cash flows as developed by the Company's management. Significant increases or decreases in these unobservable inputs in isolation would likely result in a significantly higher or lower fair value measurement. In addition, we evaluated the Company’s future rights fees as part of this update and determined that the future rights fees were impaired by $2.7 million. As of August 31, 2015, the short-term portion of the royalty payable was $294 thousand and the long-term portion was $207 thousand. Capital Lease Obligations The Company leases certain computer and security equipment under capital leases. During the first quarter of fiscal 2016, the Company entered into capital leases for $290 thousand. As of August 31, 2015, the balance sheet reflects the short-term portion of capital lease obligations of $62 thousand and the long-term portion of $258 thousand.

Note 4 - Legal Proceedings and

Note 4 - Legal Proceedings and Contingencies	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	Note 4. Legal Proceedings and Contingencies Status of Salvor-in-Possession and Interim Salvage Award Proceedings The Company has been party to a salvage case titled RMS Titanic, Inc. v. The Wrecked and Abandoned Vessel, et al., in rem in-specie On August 15, 2011, the District Court granted an in-specie • The approximately 2,000 “1987 Artifacts” and the approximately 3,500 “Post 1987 Artifacts” must be maintained as a single collection; • The combined collections can only be sold together, in their entirety, and any purchaser of the collections would be subject to the same conditions applicable to RMST and the purchase subject to court approval; and • RMST must comply with provisions that guarantee the long-term protection of all of the artifacts. These provisions include the creation by RMST of a reserve fund (the “Reserve Fund”). The Reserve Fund is irrevocably pledged to and held for the exclusive purpose of providing a performance guarantee for the maintenance and preservation of the Titanic collection for the public interest. The Company will pay into the Reserve Fund a minimum of twenty five thousand dollars ($25 thousand) for each future fiscal quarter until the corpus of such Reserve Fund equals five million dollars ($5 million). Though not required under the covenants and conditions, the Company may make additional payments into the Reserve Fund as it deems appropriate, consistent with its prior representations to the Court and sound fiscal operations. The Company established the Reserve Fund and funded it with $25 thousand during November 2011 and continues to make quarterly $25 thousand payments. The balance in the Reserve Fund as of August 31, 2015 is $408 thousand, including interest income. During these proceedings, on July 2, 2004, the District Court also rendered an opinion and order in which it held that it would not recognize a 1993 Proces-Verbal, pursuant to which the government of France granted RMST title to all artifacts recovered from the wreck site during the 1987 expedition (the “1987 Artifacts”). RMST appealed the July 2, 2004 District Court order to the Appellate Court. On January 31, 2006, the Appellate Court reversed the lower court’s decision to invalidate the 1993 Proces-Verbal, pursuant to which the government of France granted RMST title to all artifacts recovered from the wreck site during the 1987 expedition. As a result, the Appellate Court tacitly reconfirmed that RMST owns the approximately 2,000 artifacts recovered during the 1987 expedition. These artifacts were not part of the August 2011 award, but are now subject to certain of the covenants and conditions agreed to by the Company. Status of International Treaty Concerning the Titanic Wreck The U.S. Department of State (the “State Department”) and the National Oceanic and Atmospheric Administration of the U.S. Department of Commerce (“NOAA”) are working together to implement an international treaty (the “Treaty”) with the governments of the United Kingdom, France and Canada concerning the Titanic wreck site. If implemented in this country, the Treaty could affect the manner in which the District Court monitors the Company’s salvor-in-possession rights to the Titanic. These rights include the exclusive right to recover artifacts from the wreck site, claim possession of and perhaps title to artifacts recovered from the site, and display recovered artifacts. Years ago the Company voiced objections to the State Department regarding the participation of the U.S. in efforts to reach an agreement governing salvage activities with respect to the Titanic. The proposed Treaty, as drafted, did not recognize the Company’s existing salvor-in-possession rights to the Titanic. The United Kingdom signed the Treaty in November 2003, and the U.S. signed the Treaty in June 2004. For the Treaty to take effect, the U.S. must enact implementing legislation. As no implementing legislation has been passed, the Treaty currently has no binding legal effect. In August 2011, the State Department and NOAA resubmitted draft legislation to Congress. Since that time, RMST has worked with the U.S. Government to develop a number of textual modifications to this proposed implementing legislation to address the Company’s concerns. The proposed legislation has not passed and presently appears to be stalled. Other Litigation On December 17, 2014, the Company filed suit against James Beckmann and his company, Image Quest Worldwide, Inc., in the District Court of Clark County, Nevada. The suit alleges that Image Quest Worldwide breached its July 19, 2010, sublease with the Company with respect to certain space at the Luxor Hotel and Casino. As an inducement to the Company to execute the sublease, James Beckman, the principal of Image Quest Worldwide, Inc., signed a personal guarantee which is enforceable if Image Quest fails to satisfy its obligations under the Sublease. The suit alleges that Image Quest failed to pay over $1.4 million in payments required under the Sublease. On April 24, 2015, Mr. Beckmann and Image Quest Worldwide answered the suit and filed a counterclaim against the Company for fraudulent inducement, alleging that the Company interfered with their right under the sublease to utilize the box-office to sell tickets to their exhibition. Mr. Beckmann and Image Quest Worldwide seek damages in excess of $10 thousand. The Company cannot currently determine whether Image Quest Worldwide, Inc. or Mr. Beckman have sufficient funds to pay some or all of the outstanding debt, and the outcome of the Company’s claims and the counterclaim are not readily determinable at this time. On December 7, 2014, Cyrus Milanian and Faan Qin filed suit against the Company in the United States District Court for the Northern District of Georgia, Atlanta Division, alleging that the Company infringed their trademark. The plaintiffs seek damages in excess of $1 million. These plaintiffs have previously filed a number of similar nuisance actions against the Company, all of which have been dismissed at early stages. The lawsuit is in its early stages and the Company cannot predict the outcome of the case. From time to time the Company is or may become involved in other legal proceedings that result from the operation of its exhibitions and business. Settled Litigation In April 2011, the Company filed suit in the U.S. District Court for the Northern District of Georgia against Serge Grimaux and his companies, including Serge Grimaux Presents, Inc. and 9104-5773 Quebec, Inc. The suit alleges that Grimaux failed to pay over $800 thousand due and owing the Company under a series of license agreements pursuant to which Mr. Grimaux and his entities presented the Company’s Titanic and human anatomy exhibitions in venues throughout Canada. The Company settled this litigation on November 10, 2011 for $375 thousand. As of August 31, 2015 a receivable of $6 thousand, net of allowance for doubtful accounts of $215 thousand, is included in the Company’s accounts receivable. On February 26, 2013, the Company filed suit in the U.S. District Court for the Northern District of Georgia, Atlanta Division against Thomas Zaller and his companies, Imagine Exhibitions, Inc. and Imagine Exhibitions, PTE, LTD. Mr. Zaller is a former executive of the Company. The suit alleged that Mr. Zaller and his companies fraudulently obtained certain of the Company’s confidential and proprietary intellectual property related to the design of its Titanic exhibitions, and unlawfully used that intellectual property in the development of their own competing Titanic exhibition, which was initially presented at the Venetian Macau, and then marketed around the world. In the suit, the Company brought claims against Mr. Zaller personally for conversion, breach of contract, and misappropriation of trade secrets under Georgia law. The Company also brought claims against Mr. Zaller and his companies for unjust enrichment, fraud, fraudulent inducement, and trade dress violations under the Lanham Act. The Company sued for unspecified damages. On April 22, 2013, Kingsmen Exhibits PTE, Ltd. filed suit against the Company in the High Court of the Republic of Singapore. This suit followed extensive correspondence between the Company and the Kingsmen companies regarding the allegations of wrongdoing by the Kingsmen companies, along with their partners Thomas Zaller and his companies. Kingsmen sought a judgment declaring that they did not violate the Singapore Copyright Act and the Singapore Trademark Act and prohibiting the Company from continuing to make claims that Kingsmen infringed the Company’s copyrights and trademarks. Kingsmen also sought unspecified damages from the Company related to actions taken by the Company to protect its confidential and proprietary intellectual property. On December 18, 2013, the Company filed a counterclaim against Kingsmen Exhibits PTE, Ltd. in that lawsuit. In the counterclaim, the Company alleged that Kingsmen unlawfully competed against the Company in the development and operation of its competing Titanic exhibition. Specifically, the Company alleged that Kingsmen infringed on its copyrights by unlawfully obtaining and using the Company’s design files to build its exhibitions. The Company sought to enjoin Kingsmen from continuing to infringe on its rights, and for unspecified damages related to the infringement. On December 2, 2014, the Company entered into a Full and General Mutual Release, Settlement and Confidentiality Agreement (the “Agreement”) with Thomas Zaller, Imagine Exhibitions, Inc., Imagine Exhibitions, Inc., Imagine Exhibitions PTE, Ltd., and TZ, Inc. (collectively, the “Zaller Parties”), and Kingsmen Exhibits PTE, Ltd and Kingsmen Creative, Ltd (collectively the “Kingsmen Parties”). The Agreement settled the litigation between the Company and the Zaller Parties in the United States District Court for the Northern District of Georgia, Atlanta Division, and between the Company and the Kingsmen Parties in the High Court of the Republic of Singapore. The Agreement required the Zaller Parties to collectively pay the Company $725 thousand on or before December 4, 2014. This amount was received on December 4, 2014. The Agreement stipulated that the Zaller Parties and the Kingsmen Parties denied any admission of fault or liability to the Company. Under the Agreement, the Zaller Parties also agreed not to stage a Titanic exhibition in the United States or Canada for a period of thirty six months or in Western Europe (defined as the United Kingdom, Ireland, France, Germany, Italy, Switzerland, Spain, Portugal, Sweden, Denmark and Norway) for a period of twenty four months. On February 14, 2014, SeaVentures, Ltd. filed suit against the Company in the Circuit Court for the Ninth Judicial District of Orange County, Florida. The suit alleged that the Company breached a license agreement with SeaVentures under which the Company was required to present certain joint exhibitions containing both Titanic artifacts and artifacts recovered from the RMS Carpathia owned by SeaVentures. SeaVentures sought $743 thousand, plus interest and costs. On April 3, 2015, RMST and the Company entered into a Full and General Mutual Release, Settlement and Confidentiality Agreement with SeaVentures which settled the litigation. Under the settlement, the Company agreed to pay SeaVentures $425 thousand, as follows: $75 thousand on or before April 10, 2015, $100 thousand on or before March 1, 2016; $100 thousand on or before March 1, 2017; and $150 thousand on or before March 1, 2018. In addition, the Company agreed to stage at least two joint exhibitions presenting Carpathia and Titanic artifacts within 24 months from the date of execution of the Agreement. The Company will pay SeaVentures a portion of the net revenues from those joint exhibitions or a per ticket fee, depending on the location of the joint exhibition. In fiscal year 2015, the Company recorded a liability for this settlement of $344 thousand, net of an $81 thousand discount at 12%, to reflect the present value of the future payments. The balance as of August 31, 2015 is $287 thousand. Legal Proceedings The Company is currently involved in certain legal proceedings. To the extent that a loss related to a contingency is reasonably estimable and probable, the Company accrues an estimate of that loss. Because of the uncertainties related to both the amount and range of loss on certain pending litigation, the Company may be unable to make a reasonable estimate of the liability that could result from an unfavorable outcome of such litigation. As information becomes available, the Company assesses any potential liability related to pending litigation and makes or, if necessary, revises its estimates. Such revisions to estimates of potential liability could materially impact the Company’s results of operations and financial position. The Company believes that adequate provisions for resolution of all contingencies, claims and pending litigation have been made for probable losses and that the ultimate outcome of these matters will not have a material adverse effect on the Company’s financial condition. Revenue and Sales and Use Tax Examinations As of August 31, 2015, the Internal Revenue Service (“IRS”) has completed examination of the Company’s federal tax returns for the fiscal years ended February 28 (29), 2010, 2009, 2008 and 2007, with no significant adjustments required. The tax years February 28 (29), 2011-2014 remain open to IRS examination. On May 1, 2015 the Company received notice from the IRS that the Company’s tax return for the fiscal year ended February 28, 2013 had been selected for examination. On July 2, 2015 the Company received notice from the IRS that the tax return of Premier Exhibition Management, LLC for the fiscal year ended February 28, 2013 had been selected for examination. The examinations began in the second fiscal quarter of 2016. In addition to the review by the IRS, the Company is, at times, under review by various state revenue authorities. As of May 8, 2014, the State of New York completed its most recent examination of the Company’s sales and use tax returns for its operations in the State of New York for all periods through May 31, 2012. The State of New York assessed additional sales and use tax of approximately $374,000 as it relates to the Company’s presentation of its Bodies exhibition at the South Street Seaport during this time period. This amount has been accrued in the Company’s consolidated financial statements. The Company has appealed this assessment on the grounds that the license agreement which governs the human anatomy specimens is not subject to sales and use tax. The Company has requested a hearing before an administrative tax tribunal.

Note 5 - Segment Information

Note 5 - Segment Information	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	5. Segment Information The Company has two reportable segments - Exhibition Management and RMS Titanic. The Exhibition Management segment involves the management of all of the Company’s exhibition operations, including the operation and management of Premier’s “Bodies,” “Titanic” (through an inter-company agreement with RMST), “Real Pirates,” “The Discovery of King Tut,” “Saturday Night Live,” and “Pompeii” (closed May 25, 2015) exhibitions. The exhibition management division also includes our exhibition merchandising business, conducted under the Company’s wholly-owned subsidiary, Premier Merchandising, LLC. The RMS Titanic segment manages the Company’s rights to the Titanic assets, including title to all of the recovered artifacts in the Company’s possession and all of the intellectual property (video, photos, maps, etc.) related to the recovery of the artifacts and research of the ship. In addition, the RMS Titanic segment manages the Company’s responsibilities as salvor-in-possession of the Titanic wreck site. Revenue derived from exhibitions presented outside of the U.S. was $548 thousand and $1.1 million for the three months ended August 31, 2015 and 2014, respectively, and $1.1 million and $1.8 million for the six months ended August 31, 2015 and 2014, respectively. The Company’s foreign exhibitions are all touring. As such, the concentration of foreign income in any period is fluid and changes as exhibitions are moved, normally every four to six months. All reported revenues were derived from external customers, with the exception of $301 thousand and $593 thousand reported for the RMS Titanic segment for the three months and six months ended August 31, 2015, respectively, and $316 thousand and $627 thousand for the three months and six months ended August 31, 2014, respectively. This revenue represents a royalty fee paid by the Exhibition Management segment for the use of Titanic assets in its exhibits, and is reflected as a corresponding cost of revenue in the Exhibition Management segment. Revenue earned and expenses charged between segments are eliminated in consolidation. Certain corporate expenses are allocated based on intercompany agreements between PRXI, PEM and RMST for shared services. The following tables reflect the condensed consolidated statements of operations for the three and six months ended August 31, 2015 and 2014 by segment (in thousands): Three Months Ended August 31, 2015 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 6,739 $ 301 $ (301 ) $ 6,739 Cost of revenue (exclusive of depreciation and amortization) 5,957 - (301 ) 5,656 Gross profit 782 301 - 1,083 Operating expenses: General and administrative 2,402 247 - 2,649 Depreciation and amortization 1,483 - - 1,483 Gain on disposal of assets (33 ) - - (33 ) Total Operating expenses 3,852 247 - 4,099 Income/(loss) from operations (3,070 ) 54 - (3,016 ) Other expense (444 ) - (444 ) Income/(loss) before income tax (3,514 ) 54 - (3,460 ) Income tax expense - - - - Net income/(loss) (3,514 ) 54 - (3,460 ) Less: Net loss attributable to non-controlling interest 364 - - 364 Net income/(loss) attributable to the shareholders of Premier Exhibitions, Inc. $ (3,150 ) $ 54 $ - $ (3,096 ) Three Months Ended August 31, 2014 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 8,297 $ 316 $ (316 ) $ 8,297 Cost of revenue (exclusive of depreciation and amortization) 5,586 - (316 ) 5,270 Gross profit 2,711 316 - 3,027 Operating expenses: General and administrative 3,398 337 3,735 Depreciation and amortization 1,149 - 1,149 Total Operating expenses 4,547 337 - 4,884 Loss from operations (1,836 ) (21 ) - (1,857 ) Other expense (1 ) - - (1 ) Loss before income tax (1,837 ) (21 ) - (1,858 ) Income tax expense - - - - Net loss (1,837 ) (21 ) - (1,858 ) Less: Net loss attributable to non-controlling interest 205 - - 205 Net loss attributable to the shareholders of Premier Exhibitions, Inc. $ (1,632 ) $ (21 ) $ - $ (1,653 ) Six Months Ended August 31, 2015 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 13,988 $ 593 $ (593 ) $ 13,988 Cost of revenue (exclusive of depreciation and amortization) 11,758 - (593 ) 11,165 Gross profit 2,230 593 - 2,823 Operating expenses: General and administrative 5,009 506 - 5,515 Depreciation and amortization 2,521 - - 2,521 Gain on disposal of assets (33 ) - - (33 ) Total Operating expenses 7,497 506 - 8,003 Income/(loss) from operations (5,267 ) 87 - (5,180 ) Other expense (825 ) - - (825 ) Income/(loss) before income tax (6,092 ) 87 - (6,005 ) Income tax expense - - - - Net income/(loss) (6,092 ) 87 - (6,005 ) Less: Net loss attributable to non-controlling interest 632 - - 632 Net income/(loss) attributable to the shareholders of Premier Exhibitions, Inc. $ (5,460 ) $ 87 $ - $ (5,373 ) Six Months Ended August 31, 2014 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 15,788 $ 627 $ (627 ) $ 15,788 Cost of revenue (exclusive of depreciation and amortization) 10,304 - (627 ) 9,677 Gross profit 5,484 627 - 6,111 Operating expenses: General and administrative 6,396 634 - 7,030 Depreciation and amortization 2,300 - - 2,300 Gain on disposal of property and equipment (4 ) - - (4 ) Total Operating expenses 8,692 634 - 9,326 Loss from operations (3,208 ) (7 ) - (3,215 ) Other expense (6 ) - - (6 ) Loss before income tax (3,214 ) (7 ) - (3,221 ) Income tax expense - - - - Net loss (3,214 ) (7 ) - (3,221 ) Less: Net loss attributable to non-controlling interest 356 - - 356 Net loss attributable to the shareholders of Premier Exhibitions, Inc. $ (2,858 ) $ (7 ) $ - $ (2,865 ) The assets in the Exhibition Management segment include exhibitry, leasehold improvements, venue license agreements, and other assets necessary for operation of the Company’s exhibitions and its merchandising division. The RMS Titanic segment contains all of the Titanic assets (other than the Orlando “Titanic: The Experience” exhibition and certain Titanic exhibition venue license agreements entered into by PEM), including title to all of the recovered artifacts in the Company’s possession and all related intellectual property (video, photos, maps, etc.). The Company’s assets by segment are reflected in the following table (in thousands): As of August 31, 2015 February 28, 2015 Exhibition Management $ 30,654 $ 31,203 RMS Titanic 5,162 5,536 Corporate and unallocated 83 142 Total assets $ 35,899 $ 36,881 Expenditures for additions to long-lived assets by segment for the six months ended August 31, 2015 and 2014, respectively, are reflected in the table below (in thousands): Six Months Ended August 31, 2015 2014 Exhibition Management $ 5,259 $ 393 RMS Titanic - - Total capital expenditures $ 5,259 $ 393

Note 6 - Liquidity and Capital

Note 6 - Liquidity and Capital Resources	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Liquidity and Capital Resources [Text Block]	Note 6. Liquidity and Capital Resources The Company’s operations in the recent past have been financed primarily through cash flow from operations, existing cash and, in fiscal 2015, the Pentwater Capital Management LP notes payable and, in fiscal 2016, convertible debt financing in connection with the merger agreement discussed below. The Company has incurred net losses for the majority of the past several years. Moving forward, the Company expects to have significant cash outflows in the near term based on the New York City lease, leasehold improvements of the leased space and new content development. On September 30, 2014, the Company entered into a short-term Secured Promissory Note and Guarantee with each of two affiliates of Pentwater Capital Management LP. Together the Notes provided for a loan to the Company in the aggregate amount of $8.0 million. The Notes provided for the payment by the Company of interest on a monthly basis at the rate of 12% per annum, and the Notes matured and were required to be repaid in full on March 31, 2015. Because the Notes matured and had to be paid in full on March 31, 2015, the Company had to obtain replacement financing for the Notes or negotiate an extension or forbearance with the Pentwater affiliates by that date. The Company considered a number of potential transactions that would provide replacement capital for the Company, including a financing transaction with one or more potential strategic partners, a private placement of equity securities, and a private placement of convertible promissory notes, including potentially to some of the Company’s existing shareholders. On April 2, 2015 the Company announced that it had entered into a definitive merger agreement (the “Merger Agreement”) whereby it plans to combine with Dinoking Tech Inc. (“DK”). Under the Merger Agreement, the DK shareholders will be entitled to up to 24% of the fully diluted ownership of the Company for all of the issued and outstanding shares of DK. In addition, an investor group has agreed to provide up to $13.5 million in convertible debt funding to Premier to repay $8 million of existing debt and $5.5 million for corporate purposes including the completion of the development of “Saturday Night Live: The Exhibition” and “Premier Exhibitions 5 th While the Company recently repaid a loan of $8.0 million, the Company will have to repay $13.5 million received in convertible debt funding if the merger transaction does not close. As a result, the Company will have to refinance the debt or obtain funds to repay the debt in full if that occurs. In addition, if the merger transaction is terminated under certain conditions the Company would be required to pay a $1 million breakup fee to DK. The Company could be capital constrained and unable to fulfill the terms of this and other agreements if its access to capital sources does not improve in the near term. If the Merger Agreement transactions are not approved by shareholders, or additional financing is not obtained, the Company may have to seek the protection of the U.S. bankruptcy laws and/or cease operating as a going concern. In addition, if the Company does not meet its payment obligations to third parties as they come due, the Company may be subject to an involuntary bankruptcy proceeding or other litigation claims, which it would likely not have the resources to defend. If the Company makes a bankruptcy filing, is subject to an involuntary bankruptcy filing, or is otherwise unable to continue as a going concern, the Company may be required to liquidate its assets and may receive less than the value at which those assets are carried on its financial statements, and it is likely that shareholders will lose all or a part of their investments. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company’s cash balance as of August 31, 2015 was $1.6 million and accounts payable and accrued liabilities were $5.8 million. In addition, the Company has a working capital deficit of $1.4 million excluding the convertible debt of $13.5 million, which is included in the short term portion of note payable on the balance sheet. Management believes that through management of its cash flow and payment obligations the Company should reach the expected merger date of October 29, 2015 without the need for incremental financing. However, post-merger management believes that the Company will need up to $5.0 million of additional capital to fund ongoing operations and to bring accounts payable and accrued liabilities current. This amount should be sufficient to return the Company to at least break-even operations in the near term, assuming that management’s plan of operations is achieved. The Company is currently exploring options to solve the liquidity situation, including additional debt or equity financing from DK, the related financing group or other sources.

Note 7 - Merger Agreement

Note 7 - Merger Agreement	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	Note 7. Merger Agreement See Note 6. Liquidity and Capital Resources regarding the Merger Agreement with DK entered into on April 2, 2015. Upon the closing of the transaction, we expect that the DK shareholders and the investor group will hold 47.0% of the outstanding Premier voting shares, subject to additional contingent payments, and the right to nominate four out of seven board members. Mr. Bao will become the Executive Chairman, President and Chief Executive Officer of Premier while DK will become an indirect wholly-owned subsidiary. If this merger is consummated, the Company’s net operating loss carryforwards may be significantly limited under Section 382 of the Internal Revenue Code. The limitation imposed by Section 382 of the Internal Revenue Code would place an annual limitation on the amount of the NOL carry forwards that can be utilized. The Company has not performed any analysis of whether or not there has been a cumulative change in ownership of greater than 50%. If this analysis were to be completed and it was determined that there has been a change in ownership, the amount of the NOL carryforwards available may be reduced significantly. However, since the valuation allowance fully reserves for all available carry forwards, the effect of the reduction would be offset by a reduction in the valuation allowance. Thus, the resolution of this matter would have no effect on the reported assets, liabilities, revenues, and expenses for the periods presented.

Note 8 - Consulting Agreement w

Note 8 - Consulting Agreement with Samuel S. Weiser	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 8. Consulting Agreement with Samuel S. Weiser On April 2, 2015, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Mr. Weiser (our former Executive Chairman, and prior to that, our President and Chief Executive Officer), pursuant to which Mr. Weiser resigned as Executive Chairman and as a member of the Company’s board of directors and agreed to make himself available to provide consulting advice as and when reasonably requested by Premier through September 30, 2015. In consideration for Mr. Weiser’s agreement to provide consulting services the Company agreed to pay Mr. Weiser consulting fees in the aggregate amount of $300,000, with $20,000 being paid on a monthly basis and the balance being paid on the earlier of the closing of the DK transaction described above or September 30, 2015. The Company was unable to make the final $180,000 payment due to Mr. Weiser on September 30, 2015. The remaining amount to be paid is accrued in the August 31, 2015 consolidated balance sheet.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Corporate Structure Our business has been divided into an exhibition management division and a content division. The content division is the Company’s existing subsidiary, RMST, which holds all of the Company’s rights with respect to the Titanic assets and is the salvor-in-possession of the Titanic wreck site. These assets include title to all of the recovered artifacts in the Company’s possession, in addition to all of the intellectual property (data, video, photos, maps, etc.) related to the recovery of the artifacts and scientific study of the ship. We also formed a new entity, Premier Exhibition Management LLC (“PEM”), in September 2011, to manage all of the Company’s exhibition management (exhibition division). This currently includes the operation and management of our “Bodies,” “Titanic” (pursuant to an intercompany agreement with RMST), “Real Pirates,” “The Discovery of King Tut,” and “Saturday Night Live,” exhibitions. PEM also pursues “fee for service” arrangements to manage exhibitions based on content owned or controlled by third parties. On April 20, 2012, PEM and its wholly-owned subsidiary, PEM Newco, LLC (“Newco”), both subsidiaries of the Company, entered into a purchase agreement with AEG Live LLC, AEG Exhibitions LLC, and Arts and Exhibitions International, LLC pursuant to which Newco purchased substantially all of the assets of Arts and Exhibitions International, LLC (“AEI”). The assets purchased include the rights and tangible assets relating to four touring exhibitions known as “King Tut II,” “Cleopatra,” “America I Am” and “Real Pirates.” Of these four exhibitions, the Company is currently touring only “Real Pirates”. The acquired assets include rights agreements with the owners of the artifacts and intellectual property comprising the exhibitions, museum/venue agreements for existing exhibition venues, sponsorship agreements, a warehouse lease and an office lease. In addition, the acquired assets include intellectual property related to proposed future exhibitions that the Company may further develop and produce, including the exhibit “One Day in Pompeii”, which was being toured by the Company during the first quarter of fiscal 2016. The Company will operate any such additional properties through its exhibition management subsidiary. Subsequent to the asset purchase, Newco changed its name to Arts and Exhibitions International, LLC. On July 12, 2012, the Company purchased substantially all of the assets of Exhibit Merchandising, LLC for $125 thousand. As part of the acquisition of the assets of Exhibit Merchandising, LLC, we obtained the rights to sell all merchandise related to “Tutankhamun and the Golden Age of the Pharaohs”, “Cleopatra: The Exhibition” and “Real Pirates”. These merchandising rights are operated under our Premier Merchandising, LLC subsidiary. The restructuring of the Company and changes in its management, reflect that Premier has two operating segments – Exhibition Management (PEM) and Content Management (RMST).
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation When we use the terms “Premier,” “Company,” “we,” “us” and “our,” we mean Premier Exhibitions, Inc., a Florida corporation, and its subsidiaries. We have prepared the accompanying unaudited condensed consolidated financial statements and unaudited notes to condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States (“U.S. GAAP”) regarding interim financial reporting. Accordingly, they do not contain all of the information and notes required by U.S. GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for our fiscal year ended February 28, 2015. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring adjustments) considered necessary for a fair presentation of our financial condition as of August 31, 2015, our results of operations for the three and six months ended August 31, 2015 and 2014 and cash flows for the six months ended August 31, 2015 and 2014. The data in the consolidated balance sheet as of February 28, 2015 was derived from our audited consolidated balance sheet as of February 28, 2015, as presented in our Annual Report on Form 10-K for our fiscal year ended February 28, 2015. The unaudited condensed consolidated financial statements include the accounts of Premier and its subsidiaries after the elimination of all significant intercompany accounts and transactions. Our operating results for the three and six months ended August 31, 2015 are not necessarily indicative of the operating results that may be expected for the full fiscal year ending February 28, 2016 (“fiscal 2016”). Significant Accounting Policies For a description of significant accounting policies, see the Summary of Significant Accounting Policies footnote to the Financial Statements included in the Company’s 2015 Annual Report on Form 10-K. There have been no material changes to the Company’s significant accounting policies since the filing of the Company’s 2015 Annual Report on Form 10-K.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from reported results using those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Recently Issued Revenue from Contracts with Customers Update 2014-09 (ASU 2014-09) In May of 2014, FASB issued Accounting Standards Update No. 2014-09 that affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015 ASU No. 2015-14 was issued and delays implementation as noted below. The new standard will replace most of the existing revenue recognition standards in U.S. GAAP when it becomes effective for periods beginning after December 15, 2017. Early adoption is permitted for periods beginning after December 15, 2016. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is currently evaluating the impact of this accounting pronouncement on our consolidated financial statements.
Going Concern [Policy Text Block]	Preparation of Financial Statements - Going Concern Update 2014-15 (ASU 2014-15) In August 2014, FASB issued Accounting Standards Update No. 2014-15, “Preparation of Financial Statements - Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” Under U.S. GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, “Presentation of Financial Statements - Liquidation Basis of Accounting.” Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the impact of this accounting pronouncement on our consolidated financial statements.

Note 2 - Loss Per Share Data (T

Note 2 - Loss Per Share Data (Tables)	6 Months Ended
	Aug. 31, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended August 31, Six Months Ended August 31, 2015 2014 2015 2014 Numerator: Net loss attributable to shareholders (in thousands) $ (3,096 ) $ (1,653 ) $ (5,373 ) $ (2,865 ) Denominator: Basic weighted-average shares outstanding 4,917,222 4,907,343 4,917,154 4,906,892 Effect of dilutive stock options and warrants - - - - Diluted weighted-average shares outstanding 4,917,222 4,907,343 4,917,154 4,906,892 Net loss per share: Basic $ (0.63 ) $ (0.34 ) $ (1.09 ) $ (0.58 ) Diluted $ (0.63 ) $ (0.34 ) $ (1.09 ) $ (0.58 )

Note 5 - Segment Information (T

Note 5 - Segment Information (Tables)	6 Months Ended
	Aug. 31, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended August 31, 2015 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 6,739 $ 301 $ (301 ) $ 6,739 Cost of revenue (exclusive of depreciation and amortization) 5,957 - (301 ) 5,656 Gross profit 782 301 - 1,083 Operating expenses: General and administrative 2,402 247 - 2,649 Depreciation and amortization 1,483 - - 1,483 Gain on disposal of assets (33 ) - - (33 ) Total Operating expenses 3,852 247 - 4,099 Income/(loss) from operations (3,070 ) 54 - (3,016 ) Other expense (444 ) - (444 ) Income/(loss) before income tax (3,514 ) 54 - (3,460 ) Income tax expense - - - - Net income/(loss) (3,514 ) 54 - (3,460 ) Less: Net loss attributable to non-controlling interest 364 - - 364 Net income/(loss) attributable to the shareholders of Premier Exhibitions, Inc. $ (3,150 ) $ 54 $ - $ (3,096 ) Three Months Ended August 31, 2014 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 8,297 $ 316 $ (316 ) $ 8,297 Cost of revenue (exclusive of depreciation and amortization) 5,586 - (316 ) 5,270 Gross profit 2,711 316 - 3,027 Operating expenses: General and administrative 3,398 337 3,735 Depreciation and amortization 1,149 - 1,149 Total Operating expenses 4,547 337 - 4,884 Loss from operations (1,836 ) (21 ) - (1,857 ) Other expense (1 ) - - (1 ) Loss before income tax (1,837 ) (21 ) - (1,858 ) Income tax expense - - - - Net loss (1,837 ) (21 ) - (1,858 ) Less: Net loss attributable to non-controlling interest 205 - - 205 Net loss attributable to the shareholders of Premier Exhibitions, Inc. $ (1,632 ) $ (21 ) $ - $ (1,653 ) Six Months Ended August 31, 2015 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 13,988 $ 593 $ (593 ) $ 13,988 Cost of revenue (exclusive of depreciation and amortization) 11,758 - (593 ) 11,165 Gross profit 2,230 593 - 2,823 Operating expenses: General and administrative 5,009 506 - 5,515 Depreciation and amortization 2,521 - - 2,521 Gain on disposal of assets (33 ) - - (33 ) Total Operating expenses 7,497 506 - 8,003 Income/(loss) from operations (5,267 ) 87 - (5,180 ) Other expense (825 ) - - (825 ) Income/(loss) before income tax (6,092 ) 87 - (6,005 ) Income tax expense - - - - Net income/(loss) (6,092 ) 87 - (6,005 ) Less: Net loss attributable to non-controlling interest 632 - - 632 Net income/(loss) attributable to the shareholders of Premier Exhibitions, Inc. $ (5,460 ) $ 87 $ - $ (5,373 ) Six Months Ended August 31, 2014 (In thousands) Exhibition Management RMS Titanic Elimination Total Revenue $ 15,788 $ 627 $ (627 ) $ 15,788 Cost of revenue (exclusive of depreciation and amortization) 10,304 - (627 ) 9,677 Gross profit 5,484 627 - 6,111 Operating expenses: General and administrative 6,396 634 - 7,030 Depreciation and amortization 2,300 - - 2,300 Gain on disposal of property and equipment (4 ) - - (4 ) Total Operating expenses 8,692 634 - 9,326 Loss from operations (3,208 ) (7 ) - (3,215 ) Other expense (6 ) - - (6 ) Loss before income tax (3,214 ) (7 ) - (3,221 ) Income tax expense - - - - Net loss (3,214 ) (7 ) - (3,221 ) Less: Net loss attributable to non-controlling interest 356 - - 356 Net loss attributable to the shareholders of Premier Exhibitions, Inc. $ (2,858 ) $ (7 ) $ - $ (2,865 )
Summary of Assets by Segments [Table Text Block]	As of August 31, 2015 February 28, 2015 Exhibition Management $ 30,654 $ 31,203 RMS Titanic 5,162 5,536 Corporate and unallocated 83 142 Total assets $ 35,899 $ 36,881
Expenditures for Additions to Long-lived Assets by Segment [Table Text Block]	Six Months Ended August 31, 2015 2014 Exhibition Management $ 5,259 $ 393 RMS Titanic - - Total capital expenditures $ 5,259 $ 393

Note 1 - Background and Basis17

Note 1 - Background and Basis of Presentation (Details Textual) $ in Thousands	Jul. 12, 2012USD ($)	Apr. 20, 2012	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Sales Revenue, Net [Member] | Outside the United States of America [Member] | Geographic Concentration Risk [Member]
Concentration Risk, Percentage			8.00%	13.00%	8.00%	12.00%
Arts And Exhibitions International LLC Member]
Number of Exhibitions		4
Exhibit Merchandising, LLC [Member]
Business Combination, Consideration Transferred	$ 125
Number of Operating Segments					2

Note 2 - Loss Per Share Data (D

Note 2 - Loss Per Share Data (Details Textual) - shares	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	91,167	91,167	91,167	91,167

Note 2 - Computation of Basic a

Note 2 - Computation of Basic and Diluted Net Income/(Loss) Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Numerator:
Net loss attributable to shareholders (in thousands)	$ (3,096)	$ (1,653)	$ (5,373)	$ (2,865)
Denominator:
Basic weighted-average shares outstanding (in shares)	4,917,222	4,907,343	4,917,154	4,906,892
Diluted weighted-average shares outstanding (in shares)	4,917,222	4,907,343	4,917,154	4,906,892
Net loss per share:
Basic (in dollars per share)	$ (0.63)	$ (0.34)	$ (1.09)	$ (0.58)
Diluted (in dollars per share)	$ (0.63)	$ (0.34)	$ (1.09)	$ (0.58)

Note 3 - Notes Payable, Royal20

Note 3 - Notes Payable, Royalty Payable, and Capital Lease Obligations (Details Textual) - USD ($)	Sep. 30, 2014	Apr. 17, 2014	Oct. 17, 2011	Mar. 31, 2014	Aug. 31, 2015	Aug. 31, 2015	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2014	Feb. 28, 2015	Apr. 02, 2015	Apr. 20, 2012
Calendar Year 2016 [Member] | AEG Live, LLC [Member]
Minimum Management Fee		$ 125,000
Calendar Year 2014 [Member] | AEG Live, LLC [Member]
Minimum Management Fee		500,000
Calendar Year 2015 [Member] | AEG Live, LLC [Member]
Minimum Management Fee		$ 125,000
AEG Live, LLC [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Discount Rate										12.00%
AEG Live, LLC [Member] | Future Rights Fees [Member]
Impairment of Intangible Assets, Finite-lived							$ 2,700,000
AEG Live, LLC [Member]
Payments to Acquire Property, Plant, and Equipment				$ 300,000
Royalty Payments, Percentage of Net Revenues from Future Bookings		90.00%
Royalty Payments, Percentage of Net Revenues from Proposed Exhibitions		20.00%
Management Fee, Percentage of Gross Revenues		1000.00%
Debt Instrument Decrease Repayment										$ 338,000
Accrued Royalties, Noncurrent					$ 207,000	$ 207,000	207,000
Worldwide Licensing And Merchandising Inc [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			$ 800,000
Asset Acquisition Repayment Period			2 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			$ 720,000
Liability Assumed Repayment Period			4 years
Debt Instrument, Interest Rate, Effective Percentage			7.60%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 1,377,000
Notes Payable, Current					196,000	196,000	196,000
Merger Agreement with DK [Member] | Investor Group [Member] | Convertible Debt to Repay Existing Debt [Member]
Convertible Debt, Maximum Borrowing Capacity											$ 8,000,000
Proceeds from Convertible Debt					8,000,000
Merger Agreement with DK [Member] | Investor Group [Member] | Convertible Debt for Corporate Purposes [Member]
Convertible Debt, Maximum Borrowing Capacity											$ 5,500,000
Merger Agreement with DK [Member] | Investor Group [Member] | Additional Proceeds [Member]
Proceeds from Convertible Debt					5,500,000
Merger Agreement with DK [Member] | Investor Group [Member]
Debt Instrument, Interest Rate, Stated Percentage											12.00%
Convertible Debt, Maximum Borrowing Capacity											$ 13,500,000
Arts And Exhibitions International LLC Member]
Debt Instrument, Interest Rate, Effective Percentage												7.00%
Two Affiliates of Pentwater Capital Management LP [Member] | Secured Promissory Note and Guarantee [Member]
Notes Payable, Current	$ 8,000,000
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Note Payable, Closing Fee, Percentage	3.00%
Deferred Finance Costs, Noncurrent, Gross	$ 383,000
Notes Payable, Current					13,696,000	13,696,000	13,696,000			8,190,000
Payments to Acquire Property, Plant, and Equipment						5,259,000	5,259,000	$ 393,000	$ 393,000
Accrued Royalties, Current					294,000	294,000	294,000			413,000
Accrued Royalties, Noncurrent					207,000	207,000	207,000			301,000
Capital Lease Obligations					290,000	290,000	290,000
Capital Lease Obligations, Current					62,000	62,000	62,000			31,000
Capital Lease Obligations, Noncurrent					$ 258,000	$ 258,000	$ 258,000			$ 32,000

Note 4 - Legal Proceedings an21

Note 4 - Legal Proceedings and Contingencies (Details Textual)

Apr. 24, 2015USD ($)

Apr. 10, 2015USD ($)

Dec. 07, 2014USD ($)

Dec. 04, 2014USD ($)

May. 08, 2014USD ($)

Feb. 14, 2014USD ($)

Nov. 10, 2011USD ($)

Aug. 12, 2010USD ($)

Aug. 31, 2015USD ($)

Mar. 01, 2016USD ($)

Feb. 28, 2015USD ($)

Mar. 01, 2017USD ($)

Mar. 01, 2018USD ($)

Dec. 17, 2014USD ($)

Nov. 30, 2011USD ($)

Aug. 15, 2011USD ($)

Apr. 30, 2011USD ($)

Jan. 31, 2006

Artifacts [Member]

Recovery of Artifacts

3,000

Fair Market Value Of Artifacts, Percentage Awarded

100.00%

Fair Market Value Of Artifacts

$ 110,000,000

One Nine Eight Seven Artifacts [Member]

Number of Artifacts

2,000

2,000

Post One Nine Eight Seven Artifacts [Member]

Number of Artifacts

3,500

Suit Against James Beckman and his Company, Image Quest Worldwide, Inc. [Member]

Gain Contingency, Unrecorded Amount

$ 1,400,000

Image Quest Worldwide Counterclaim [Member] | Minimum [Member]

Loss Contingency, Damages Sought, Value

$ 10,000

Trademark Infringement [Member] | Minimum [Member]

Loss Contingency, Damages Sought, Value

$ 1,000,000

Suit Against Serge Grimaux and his Companies [Member]

Gain Contingency, Unrecorded Amount

$ 800,000

Litigation Settlement, Amount

$ 375,000

Receivables, Net, Current

$ 6,000

Allowance for Doubtful Accounts Receivable, Current

215,000

Litigation Between the Company and the Zaller and Kingsmen Parties [Member]

Litigation Settlement, Amount

$ 725,000

SeaVentures, Ltd. Suit Against the Company [Member] | Scenario, Forecast [Member]

Payments for Legal Settlements

$ 100,000

$ 100,000

$ 150,000

SeaVentures, Ltd. Suit Against the Company [Member]

Loss Contingency, Damages Sought, Value

$ 743,000

Litigation Settlement, Amount

$ (425,000)

Payments for Legal Settlements

$ 75,000

Estimated Litigation Liability

$ 287,000

$ 344,000

Estimated Litigation Liability Discount

$ 81,000

Estimated Litigation Liability Discount Rate

12.00%

Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member]

Open Tax Year

2,011

Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]

Open Tax Year

2,014

New York State Division of Taxation and Finance [Member] | State and Local Jurisdiction [Member]

Income Tax Examination, Estimate of Possible Loss

$ 374,000

Minimum Quarterly Reserve Fund Payments Required

$ 25,000

Reserve Fund Required

$ 5,000,000

Reserve Fund Balance

$ 408,000

$ 25,000

Quarterly Payment of Trust Account

25,000

Allowance for Doubtful Accounts Receivable, Current

$ 220,000

$ 220,000

Note 5 - Segment Information (D

Note 5 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2015USD ($)	Aug. 31, 2014USD ($)	Aug. 31, 2015USD ($)	Aug. 31, 2014USD ($)
Foreign Exhibitions [Member]
Revenue, Net	$ 548	$ 1,100	$ 1,100	$ 1,800
RMS Titanic [Member]
Revenue, Net	301	316	$ 593	627
Number of Reportable Segments			2
Revenue, Net	$ 6,739	$ 8,297	$ 13,988	$ 15,788

Note 5 - Statements of Operatio

Note 5 - Statements of Operations by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Exhibition Management [Member]
Revenue, Net	$ 6,739	$ 8,297	$ 13,988	$ 15,788
Cost of revenue (exclusive of depreciation and amortization)	5,957	5,586	11,758	10,304
Gross profit	782	2,711	2,230	5,484
Operating expenses:
General and administrative	2,402	3,398	5,009	6,396
Depreciation and amortization	1,483	1,149	2,521	2,300
Gain on disposal of assets	(33)		(33)	(4)
Total Operating expenses	3,852	4,547	7,497	8,692
Income/(loss) from operations	(3,070)	(1,836)	(5,267)	(3,208)
Other expense	(444)	(1)	(825)	(6)
Income/(loss) before income tax	$ (3,514)	$ (1,837)	$ (6,092)	$ (3,214)
Income tax expense
Net income/(loss)	$ (3,514)	$ (1,837)	$ (6,092)	$ (3,214)
Less: Net loss attributable to non-controlling interest	364	205	632	356
Net loss attributable to shareholders (in thousands)	(3,150)	(1,632)	(5,460)	(2,858)
Revenue, Net	6,739	8,297	13,988	15,788
Cost of revenue (exclusive of depreciation and amortization)	5,957	5,586	11,758	10,304
Gross profit	782	2,711	2,230	5,484
RMS Titanic [Member]
Revenue, Net	$ 301	$ 316	$ 593	$ 627
Cost of revenue (exclusive of depreciation and amortization)
Gross profit	$ 301	$ 316	$ 593	$ 627
Operating expenses:
General and administrative	$ 247	$ 337	$ 506	$ 634
Depreciation and amortization
Gain on disposal of assets
Total Operating expenses	$ 247	$ 337	$ 506	$ 634
Income/(loss) from operations	$ 54	$ (21)	$ 87	$ (7)
Other expense
Income/(loss) before income tax	$ 54	$ (21)	$ 87	$ (7)
Income tax expense
Net income/(loss)	$ 54	$ (21)	$ 87	$ (7)
Less: Net loss attributable to non-controlling interest
Net loss attributable to shareholders (in thousands)	$ 54	$ (21)	$ 87	$ (7)
Revenue, Net	$ 301	$ 316	$ 593	$ 627
Cost of revenue (exclusive of depreciation and amortization)
Gross profit	$ 301	$ 316	$ 593	$ 627
Consolidation, Eliminations [Member]
Revenue, Net	(301)	(316)	(593)	(627)
Cost of revenue (exclusive of depreciation and amortization)	$ (301)	$ (316)	$ (593)	$ (627)
Gross profit
Operating expenses:
General and administrative
Depreciation and amortization
Gain on disposal of assets
Total Operating expenses
Income/(loss) from operations
Other expense
Income/(loss) before income tax
Income tax expense
Net income/(loss)
Less: Net loss attributable to non-controlling interest
Net loss attributable to shareholders (in thousands)
Revenue, Net	$ (301)	$ (316)	$ (593)	$ (627)
Cost of revenue (exclusive of depreciation and amortization)	$ (301)	$ (316)	$ (593)	$ (627)
Gross profit
Revenue, Net	$ 6,739	$ 8,297	$ 13,988	$ 15,788
Cost of revenue (exclusive of depreciation and amortization)	5,656	5,270	11,165	9,677
Gross profit	1,083	3,027	2,823	6,111
General and administrative	2,649	3,735	5,515	7,030
Depreciation and amortization	1,483	1,149	2,521	2,300
Gain on disposal of assets	(33)		(33)	(4)
Total Operating expenses	4,099	4,884	8,003	9,326
Income/(loss) from operations	(3,016)	(1,857)	(5,180)	(3,215)
Other expense	(444)	(1)	(825)	(6)
Income/(loss) before income tax	$ (3,460)	$ (1,858)	$ (6,005)	$ (3,221)
Income tax expense
Net income/(loss)	$ (3,460)	$ (1,858)	$ (6,005)	$ (3,221)
Less: Net loss attributable to non-controlling interest	364	205	632	356
Net loss attributable to shareholders (in thousands)	(3,096)	(1,653)	(5,373)	(2,865)
Revenue, Net	6,739	8,297	13,988	15,788
Cost of revenue (exclusive of depreciation and amortization)	5,656	5,270	11,165	9,677
Gross profit	$ 1,083	$ 3,027	$ 2,823	$ 6,111

Note 5 - Summary of Assets by S

Note 5 - Summary of Assets by Segment (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Feb. 28, 2015
Exhibition Management [Member]
Capital Expenditures	$ 30,654	$ 31,203
RMS Titanic [Member]
Capital Expenditures	5,162	5,536
Corporate and Unallocated [Member]
Capital Expenditures	83	142
Capital Expenditures	$ 35,899	$ 36,881

Note 5 - Expenditures for Addit

Note 5 - Expenditures for Additions to Long-Lived Assets by Segment (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Exhibition Management [Member]
Payments to Acquire Property, Plant, and Equipment	$ 5,259	$ 393
RMS Titanic [Member]
Payments to Acquire Property, Plant, and Equipment
Payments to Acquire Property, Plant, and Equipment	$ 5,259	$ 393

Note 6 - Liquidity and Capita26

Note 6 - Liquidity and Capital Resources (Details Textual) - USD ($)	Apr. 02, 2015	Aug. 31, 2015	Mar. 02, 2015	Feb. 28, 2015	Sep. 30, 2014	Aug. 31, 2014	Mar. 02, 2014
Secured Promissory Note and Guarantee [Member] | Two Affiliates of Pentwater Capital Management LP [Member]
Notes Payable, Current					$ 8,000,000
Debt Instrument, Interest Rate, Stated Percentage					12.00%
Convertible Debt to Repay Existing Debt [Member] | Investor Group [Member] | Merger Agreement with DK [Member]
Convertible Debt, Maximum Borrowing Capacity	$ 8,000,000
Convertible Debt for Corporate Purposes [Member] | Investor Group [Member] | Merger Agreement with DK [Member]
Convertible Debt, Maximum Borrowing Capacity	$ 5,500,000
Investor Group [Member] | Merger Agreement with DK [Member]
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Convertible Debt, Maximum Borrowing Capacity	$ 13,500,000
Debt Instrument, Convertible, Conversion Price	$ 4.48
Investor Group [Member] | Short-term Notes Payable [Member]
Convertible Debt, Current		$ 13,500,000
Merger Agreement with DK [Member] | Maximum [Member]
Ownership Percentage of Combined Entity by Former Shareholders of Merged Entity	24.00%
Merger Agreement with DK [Member]
Repayments of Debt	$ 8,000,000
Merger Breakup Fee	$ 1,000,000
Required Additional Working Capital		5,000,000
Notes Payable, Current		13,696,000		$ 8,190,000
Cash and Cash Equivalents, at Carrying Value		1,606,000	$ 4,798,000	4,798,000		$ 3,896,000	$ 3,434,000
Accounts Payable and Accrued Liabilities, Current		5,788,000		$ 4,782,000
Working Capital Deficit Excluding Convertible Debt		$ 1,400,000

Note 7 - Merger Agreement (Deta

Note 7 - Merger Agreement (Details Textual)	Apr. 02, 2015
Merger Agreement with DK [Member] | Upon Closing [Member]
Ownership Percentage of Combined Entity by Investor Group and Former Shareholders of Merged Entity	47.00%

Note 8 - Consulting Agreement28

Note 8 - Consulting Agreement with Samuel S. Weiser (Details Textual) - Former Board of Directors Chairman and CEO [Member] - USD ($)	Apr. 02, 2015	Sep. 30, 2015
Consulting Fees for Former CEO and Chairman Post Resignation in Aggregate [Member]
Related Party Transaction, Amounts of Transaction	$ 300,000
Monthly Payments of Consulting Fees for Former Chairman and CEO [Member]
Related Party Transaction, Amounts of Transaction	$ 20,000
Final Payment [Member] | Subsequent Event [Member]
Due to Related Parties		$ 180,000